# ibsettle: Business account

> A Lithuanian e-money institution's business account: an IBAN in your company's name, SEPA, SEPA Instant and international transfers in about 20 currencies, opened fully online. Prices depend on where the company is: €10 a month for Lithuanian companies, €30 in the EEA, €50 elsewhere.

Finzil profile: https://finzil.com/providers/ibsettle · Provider website: https://ibsettle.com · Facts checked: 2026-10-20

## Key facts

- **Monthly fee:** from €10 (€30 EEA, €50 international, €200 compliance-intensive)
- **Setup fee:** from €50 (application processing; €200 EEA, €500 international)
- **Currencies:** 20+
- **Onboarding:** 3–5 days (typical)
- **Provider type:** E-money institution
- **IBAN:** Lithuanian IBAN in the company's name
- **Payment rails:** SEPA, SEPA Instant, SWIFT
- **Remote opening:** Yes
- **Non-residents:** Accepted
- **Headquarters:** Lithuania
- **Trustpilot:** 3.1 from 5 reviews (checked 2026-10-20)

## Who can apply

- **Non-resident owners** (owner or director living outside the company's country): Accepted. Non-residents are accepted: owners and directors do not need to live in the country where the company is registered.
- **Countries of incorporation accepted:** Åland Islands, Albania, Algeria, Andorra, Angola, Anguilla, Antarctica, Antigua & Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Botswana, Bouvet Island, Brazil, British Indian Ocean Territory, British Virgin Islands, Brunei, Bulgaria, Cameroon, Canada, Cape Verde, Caribbean Netherlands, Cayman Islands, Chad, Chile, China, Christmas Island, Cocos (Keeling) Islands, Colombia, Comoros, Congo - Brazzaville, Cook Islands, Costa Rica, Côte d’Ivoire, Croatia, Curaçao, Cyprus, Czechia, Denmark, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Estonia, Eswatini, Falkland Islands, Faroe Islands, Fiji, Finland, France, French Guiana, French Polynesia, French Southern Territories, Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guernsey, Guyana, Heard & McDonald Islands, Honduras, Hong Kong SAR China, Hungary, Iceland, India, Indonesia, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Kazakhstan, Kiribati, Kosovo, Kuwait, Kyrgyzstan, Laos, Latvia, Lesotho, Liberia, Liechtenstein, Lithuania, Luxembourg, Macao SAR China, Madagascar, Malawi, Malaysia, Maldives, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montenegro, Montserrat, Namibia, Nauru, Nepal, Netherlands, New Caledonia, New Zealand, Nigeria, Niue, Norfolk Island, North Macedonia, Northern Mariana Islands, Norway, Oman, Palestinian Territories, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn Islands, Poland, Portugal, Puerto Rico, Qatar, Réunion, Romania, Rwanda, San Marino, São Tomé & Príncipe, Saudi Arabia, Serbia, Seychelles, Sierra Leone, Singapore, Sint Maarten, Slovakia, Slovenia, Solomon Islands, South Africa, South Georgia & South Sandwich Islands, South Korea, Spain, Sri Lanka, St. Barthélemy, St. Helena, St. Kitts & Nevis, St. Lucia, St. Martin, St. Pierre & Miquelon, St. Vincent & Grenadines, Suriname, Svalbard & Jan Mayen, Sweden, Switzerland, Taiwan, Tajikistan, Thailand, Timor-Leste, Togo, Tokelau, Tonga, Tunisia, Türkiye, Turkmenistan, Turks & Caicos Islands, Tuvalu, U.S. Outlying Islands, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Vatican City, Vietnam, Wallis & Futuna, Western Sahara, Zambia (only these)
- **Countries of incorporation refused:** Afghanistan, American Samoa, Mali, Belarus, Morocco, Mozambique, Burkina Faso, Myanmar (Burma), Burundi, Nicaragua, Cambodia, Niger, Central African Republic, North Korea, Pakistan, Cuba, Palau, Congo - Kinshasa, Russia, Samoa, Eritrea, Senegal, Ethiopia, Somalia, Guam, South Sudan, Guatemala, Sudan, Guinea, Syria, Guinea-Bissau, Tanzania, Haiti, Iran, U.S. Virgin Islands, Iraq, Uganda, Jordan, Vanuatu, Kenya, Venezuela, Lebanon, Yemen, Libya, Zimbabwe, Bosnia & Herzegovina, Trinidad & Tobago
- **Owner residency accepted:** Åland Islands, Albania, Algeria, Andorra, Angola, Anguilla, Antarctica, Antigua & Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Botswana, Bouvet Island, Brazil, British Indian Ocean Territory, British Virgin Islands, Brunei, Bulgaria, Cameroon, Canada, Cape Verde, Caribbean Netherlands, Cayman Islands, Chad, Chile, China, Christmas Island, Cocos (Keeling) Islands, Colombia, Comoros, Congo - Brazzaville, Cook Islands, Costa Rica, Côte d’Ivoire, Croatia, Curaçao, Cyprus, Czechia, Denmark, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Estonia, Eswatini, Falkland Islands, Faroe Islands, Fiji, Finland, France, French Guiana, French Polynesia, French Southern Territories, Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guernsey, Guyana, Heard & McDonald Islands, Honduras, Hong Kong SAR China, Hungary, Iceland, India, Indonesia, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Kazakhstan, Kiribati, Kosovo, Kuwait, Kyrgyzstan, Laos, Latvia, Lesotho, Liberia, Liechtenstein, Lithuania, Luxembourg, Macao SAR China, Madagascar, Malawi, Malaysia, Maldives, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montenegro, Montserrat, Namibia, Nauru, Nepal, Netherlands, New Caledonia, New Zealand, Nigeria, Niue, Norfolk Island, North Macedonia, Northern Mariana Islands, Norway, Oman, Palestinian Territories, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn Islands, Poland, Portugal, Puerto Rico, Qatar, Réunion, Romania, Rwanda, San Marino, São Tomé & Príncipe, Saudi Arabia, Serbia, Seychelles, Sierra Leone, Singapore, Sint Maarten, Slovakia, Slovenia, Solomon Islands, South Africa, South Georgia & South Sandwich Islands, South Korea, Spain, Sri Lanka, St. Barthélemy, St. Helena, St. Kitts & Nevis, St. Lucia, St. Martin, St. Pierre & Miquelon, St. Vincent & Grenadines, Suriname, Svalbard & Jan Mayen, Sweden, Switzerland, Taiwan, Tajikistan, Thailand, Timor-Leste, Togo, Tokelau, Tonga, Tunisia, Türkiye, Turkmenistan, Turks & Caicos Islands, Tuvalu, U.S. Outlying Islands, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Vatican City, Vietnam, Wallis & Futuna, Western Sahara, Zambia
- **Owner residency refused:** Afghanistan, American Samoa, Mali, Belarus, Morocco, Mozambique, Burkina Faso, Myanmar (Burma), Burundi, Nicaragua, Cambodia, Niger, Central African Republic, North Korea, Pakistan, Cuba, Palau, Congo - Kinshasa, Russia, Samoa, Eritrea, Senegal, Ethiopia, Somalia, Guam, South Sudan, Guatemala, Sudan, Guinea, Syria, Guinea-Bissau, Tanzania, Haiti, Iran, U.S. Virgin Islands, Iraq, Uganda, Jordan, Vanuatu, Kenya, Venezuela, Lebanon, Yemen, Libya, Zimbabwe, Bosnia & Herzegovina, Trinidad & Tobago
- **Owner nationality refused:** Afghanistan, American Samoa, Mali, Belarus, Morocco, Mozambique, Burkina Faso, Myanmar (Burma), Burundi, Nicaragua, Cambodia, Niger, Central African Republic, North Korea, Pakistan, Cuba, Palau, Congo - Kinshasa, Russia, Samoa, Eritrea, Senegal, Ethiopia, Somalia, Guam, South Sudan, Guatemala, Sudan, Guinea, Syria, Guinea-Bissau, Tanzania, Haiti, Iran, U.S. Virgin Islands, Iraq, Uganda, Jordan, Vanuatu, Kenya, Venezuela, Lebanon, Yemen, Libya, Zimbabwe, Bosnia & Herzegovina, Trinidad & Tobago
- **Company types accepted:** Legal entities (no sole traders); trusts and foundations only with pre-approval

## Industries

- **Industries served:** Import and export, E-commerce, Startups and SMEs
- **Prohibited industries (provider's own list):** Weapons, defense, military, explosives and semi-military goods/services; Atomic power; Auction houses and penny auctions; Bearer corporations; Binary options and prohibited or unlicensed financial trading; Carbon credits; Child pornography, prostitution and escort services; Cultural artefacts, ivory and protected species; Scrap metal; Sanctioned jurisdictions or UBOs and terrorism supporters; Drug paraphernalia; Extractive industries including trading; UN/EU-sanctioned groups and persons; Major-offence sanctioned clients; Illegal or counterfeit goods; Marijuana and narcotics; Non-financial institutions providing foreign currency, money orders or traveller’s cheques; Non-regulated non-profit and non-government organisations; Shell banks and shelf companies; Pawnbrokers; Pseudo-pharmaceuticals, nutraceuticals, supplements, smart drugs/nootropics; Political groups, associations, embassies and consulates; Ponzi/pyramid schemes; Unauthorised multi-level marketing and get-rich-quick schemes; Unlicensed financial institutions; Unlicensed gambling/gaming including online gambling and betting; Unregistered charities; Rough diamonds (source: https://www.ibsettle.com/legal-documents/prohibited-industries-and-jurisdictions)
- **Permitted industries (provider's own list):** International businesses needing EUR/SEPA payments; Businesses needing named IBANs and multi-currency balances; Companies making international bank transfers; Businesses needing currency exchange and account statements

## Licences

- Lithuania: Bank of Lithuania, E-money institution, UAB IBS Lithuania, register no. LB000404 (https://www.lb.lt/en/sfi-financial-market-participants/ibsettle-uab)

Safeguarding: ibsettle is an e-money institution: the account holds e-money, not a bank deposit, and no deposit insurance applies. Its terms do not describe how client money is safeguarded.

## Fees

Source: https://www.ibsettle.com/pricing (checked 2026-10-20)

### Plans

- **Lithuanian residents:** 10 EUR a month, setup 50 EUR
- **EEA residents:** 30 EUR a month, setup 200 EUR
- **International:** 50 EUR a month, setup 500 EUR
- **Compliance intensive:** 200 EUR a month, setup 1000 EUR

### Incoming

- SEPA (Lithuanian residents): Free
- SEPA (EEA residents): €1
- SEPA (International): €5
- SEPA (Compliance intensive): 0.1%, min €5
- SWIFT / international (Lithuanian residents): 0.1%, min €20
- SWIFT / international (EEA residents): 0.1%, min €20
- SWIFT / international (International): 0.15%, min €30
- SWIFT / international (Compliance intensive): 0.3%, min €30

### Outgoing

- SEPA (Lithuanian residents): €2
- SEPA (EEA residents): €2
- SEPA (International): 0.04%, min €5
- SEPA (Compliance intensive): 0.2%, min €5
- SWIFT / international (Lithuanian residents): 0.1%, min €20
- SWIFT / international (EEA residents): 0.1%, min €20
- SWIFT / international (International): 0.15%, min €50
- SWIFT / international (Compliance intensive): 0.5%, min €70
- To another ibsettle account: Free

### Currency exchange (FX)

- FX markup: Not published · Live rate shown during the exchange

## Opening an account

Opening an account typically takes three to five business days.

1. **Start online.** Begin onboarding on ibsettle.com and complete remote identification.
2. **Application.** Fill in the application form and upload the business and owner documents.
3. **Review.** ibsettle checks the company; it may ask for notarised, apostilled or translated copies.
4. **Account live.** Once approved, the account and its IBAN are opened.

Documents: Not published

## Pros and cons

- Pro: IBAN in your company's own name
- Pro: Opened fully online, with remote identification
- Pro: Takes companies from outside the EEA, at a higher price tier
- Pro: Published price list for each type of client
- Pro: Licensed gambling, crypto and trusts considered with pre-approval
- Con: €50 a month and €500 to apply for companies outside the EEA
- Con: International transfers cost at least €20, and €50 out for non-EEA companies
- Con: Balances above an average €50,000 a month are charged 0.05% a month
- Con: Companies from 47 countries refused, including Morocco, Pakistan, Kenya and Jordan
- Con: Trustpilot score of 3.1 from 5 reviews

## Finzil's take (opinion)

ibsettle is a small Lithuanian EMI that publishes its prices openly and takes companies from outside the EEA, at a higher tier. For a non-EU company that needs a named EUR IBAN it is a straightforward option; check first that neither the company nor its owners are linked to one of its 47 refused countries.

## Alternatives

- [Paysera](https://finzil.com/providers/paysera): E-money institution · Lithuania
- [ConnectPay](https://finzil.com/providers/connectpay): E-money institution · Lithuania
- [Wallter](https://finzil.com/providers/wallter): E-money institution · Lithuania
- [Finci](https://finzil.com/providers/finci): E-money institution · Lithuania

## FAQ

**Is ibsettle licensed?**

Yes. UAB IBS Lithuania holds an e-money institution licence (No. 10, authorisation LB000404) from the Bank of Lithuania. It is not a bank; balances are e-money.

**How much does ibsettle cost?**

It depends on the client category: Lithuanian residents pay €50 to apply and €10 a month, EEA residents €200 and €30, international clients €500 and €50, and compliance-intensive clients €1,000 and €200. SEPA out costs €2 for Lithuanian and EEA clients.

**Can a company outside the EU open an ibsettle account?**

Yes, in the International category, unless the company or its owners are from one of the 47 countries ibsettle refuses.

**Which countries does ibsettle refuse?**

Its list includes Afghanistan, Belarus, Bosnia and Herzegovina, Cambodia, Cuba, Guatemala, Iran, Iraq, Jordan, Kenya, Lebanon, Morocco, Myanmar, North Korea, Pakistan, Russia, Senegal, Syria, Tanzania, Trinidad and Tobago, Uganda, Venezuela, Yemen, Zimbabwe, Crimea and the Donetsk and Luhansk regions.

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