Overview
myTU, at a glance.
myTU is an e-money institution headquartered in Lithuania, regulated by Bank of Lithuania. Business accounts cost from €7 a month. Opening an account takes 3–5 days.
Customer money is ring-fenced at a bank or central bank and cannot be lent. No deposit guarantee scheme applies.
Why businesses pick myTU
- From €7 a month, with no opening fee on Starter and Standard
- Open to sole proprietors as well as companies
- SEPA Instant payments
- Visa cards with spending controls, and several user roles
- Trustpilot score of 3.9 from more than 600 reviews
Watch out for
- Only for businesses registered in the EU or EEA
- Euro only: no SWIFT payments and no currency exchange yet
- A long prohibited list that includes import and export, international shipping, crypto, crowdfunding and charities
- Higher-risk businesses pay from €200 or €1,000 to open
Business fit
Will myTU accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on myTU's published rules
Likely no
myTU does not list United Kingdom among the countries where it accepts companies.
myTU does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What myTU publishes about the businesses it takes on.
Who myTU serves
- Freelancers
- Startups and SMEs
- Professional services
All 5 industries on myTU's accepted list
- Sole proprietors
- Local/small businesses
- Growing SMEs
- Businesses needing multi-user roles
- Businesses needing card acquiring settlement
Not supported
Industries and countries myTU does not accept, from its own published lists.
Industries
- Dealing in artefacts and antiquities
- Crowdfunding and peer-to-peer platforms
- Horoscopes, astrology and fortune tellers
- International shipping, cargo, import/export
- Multi-level marketing
- Weapons/explosives trade, mediation or production
- Online sales of alcohol, tobacco, e-cigarettes and vapes
- Sexually oriented or pornographic services including escort/adult dating
- Stocks, indices, raw materials, currencies/Forex, options, ETFs or investment services
- Crypto or unregulated virtual currencies
- Drug paraphernalia/marijuana
- Gambling or betting
- Online gaming
- Affiliate marketing
- Offshore-company incorporation/agency/referral services
- Pawnbrokers
- Political organisations/groups
- Public-procurement providers
- Works of art or numismatic values
- Ferrous, non-ferrous and precious/rare metals and stones
- Carbon-credit activities
- Ponzi/pyramid financial schemes
- Charities/relief organisations
- Explosives and nuclear-fuel production/recycling
- Illegal goods/services including trademark infringement, human/sex trafficking and child labour
- Payment or electronic-money institutions
- Money-services businesses/remittance/FX/money-transfer/cash services
- Shell financial institutions
- Wholesale alcohol and tobacco
- Petroleum extraction/production/trade
- Supplements/nutraceuticals
- Pharmaceuticals
- Counterfeit items/products
Countries
- Not published
Coverage
Where can you use myTU?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
EUR
- EUR
Payment reach
Not published
Who can apply
Company incorporation countries30 countries · show list
- Austria
- Belgium
- Bulgaria
- Croatia
- Cyprus
- Czechia
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Iceland
- Ireland
- Italy
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Malta
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Sweden
Owner nationality
Not publishedOwner residency
Not publishedCompany types
Companies, Sole proprietors
Pricing
What does myTU cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
From €0
depends on plan
Monthly fee
€7–49
depends on plan
Starter
Lowest cost€7 per month
€0 setup · €84 in year one
Standard
€19 per month
€0 setup · €228 in year one
Premium
€49 per month
€200 setup · €788 in year one
Premium+
Custom
Opening fee is a starting price
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Outgoing | ||
| SWIFT / international | Not offered | Not available |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not offered | Not available |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Sign up
Start in the app or online.
- 2
Business details
Give the company or sole-proprietor registration and its owners.
- 3
Verification
Verify identity and upload proof of registration.
- 4
Account live
You receive a European IBAN; the compliance review can take longer for some businesses.
Documents you need
- Certificate of Incorporation or registry extract
- Company/representative/user identity and authority
- Corporate structure/directors/signatories/UBOs and residence
- Purpose and payment countries/partners
- Activity, financial indicators/turnover and other bank accounts
- Expected monthly turnover and declarations
FAQ
Your questions, answered.
Is myTU a bank?
No. myTU is run by UAB Travel Union, an e-money institution licensed by the Bank of Lithuania, register code LB001966. Customer money is ring-fenced, and no deposit guarantee applies.
How much does myTU Business cost?
Starter costs €7 a month, Standard €19 and Premium €49. Starter and Standard have no opening fee; Premium costs from €200 to open.
Which countries can open a myTU Business account?
Businesses registered in the 30 countries of the EU and EEA.
Does myTU support international payments?
No. The account is in euros and works on SEPA and SEPA Instant. SWIFT payments and currency exchange are not available.
Which businesses does myTU not accept?
Its list of 33 prohibited activities includes crypto, crowdfunding, multi-level marketing, weapons, online alcohol and tobacco sales, investment services, charities, and international shipping, cargo and import/export.
Alternatives
How myTU compares.
If myTU is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 myTUThis pageE-money institution |  | Low feesSole traders |
 WamoE-money institution |  | Free planSole traders |
 PayseraE-money institution |  | Low fees16 support languages |
 FinomE-money institution |  | Freelancers and small companiesInvoicing |
 iCardE-money institution |  | Low feesFree Mastercard |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.