# Okeo Payments: Business account

> A Lithuanian e-money institution for companies registered in the EEA, Switzerland or the UK: named IBAN accounts in EUR, GBP, PLN and USD (up to 10 IBANs, your own number), SEPA, SEPA Instant and SWIFT, and payments in 15 currencies. Essential €15 or Plus €100 a month, plus €25 for company checks.

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

## Key facts

- **Monthly fee:** from €15 (Plus €100)
- **Setup fee:** €25 (company KYC and verification)
- **Currencies:** 4 (to hold; payments in 15)
- **Onboarding:** 3–5 days (typical)
- **Provider type:** E-money institution
- **IBAN:** Named IBANs in the company's name, up to 10
- **Payment rails:** SEPA, SEPA Instant, SWIFT
- **Safeguarding:** Safeguarded at an EU bank
- **Remote opening:** Yes
- **Headquarters:** Lithuania
- **Trustpilot:** 3.8 from 3 reviews (checked 2026-10-20)

## Who can apply

- **Non-resident owners** (owner or director living outside the company's country): Not published. Representatives and beneficial owners must be citizens of the EEA, Switzerland, Ukraine or the UK; Okeo publishes no rule on where they live.
- **Countries of incorporation accepted:** Austria, Belgium, Bulgaria, Switzerland, Cyprus, Czechia, Germany, Denmark, Estonia, Spain, Finland, France, United Kingdom, Greece, Croatia, Hungary, Ireland, Iceland, Italy, Liechtenstein, Lithuania, Luxembourg, Latvia, Malta, Netherlands, Norway, Poland, Portugal, Romania, Sweden, Slovenia, Slovakia (only these)
- **Countries of incorporation refused:** Not published
- **Owner residency accepted:** Not published
- **Owner residency refused:** Not published
- **Owner nationality refused:** Not published
- **Company types accepted:** Private and public limited companies, LLPs and partnerships, Sole proprietorships

## Industries

- **Industries served:** Import and export, E-commerce, Professional services, IT and software, Holding companies, Travel
- **Prohibited industries (provider's own list):** Adult industry; Human trafficking; Weapons and munitions; Drugs industry; Extraction and trading in precious metals, stones, jewelry, fine art; Trading of animal fur, bones and ivory; Tobacco and alcohol; Fake goods/counterfeit consumer products; Chemicals and related products; Auctions; Crypto assets; Multilevel marketing; Streaming companies; Video game arcades; Casino (gambling sector); Unlicensed activities (business operating in breach of licensing requirements); Unregulated businesses (e.g., trading at Forex), etc. (source: https://help.okeo.com/hc/en-us/articles/17499794159889-Which-industries-are-prohibited)

## Licences

- Lithuania: Bank of Lithuania, E-money institution, Okeo Payments UAB, register no. LB001991 (https://www.lb.lt/en/sfi-financial-market-participants/okeo-payments-uab)

Safeguarding: Okeo Payments UAB is an e-money institution licensed by the Bank of Lithuania (licence No. 71). Customer funds are kept separately from Okeo's own on a dedicated account at a commercial bank in the EU; the Lithuanian deposit guarantee scheme does not cover e-money.

## Fees

Source: https://help.okeo.com/hc/en-us/article_attachments/36798812173457 (checked 2026-10-20)

### Plans

- **Essential:** 15 EUR a month, setup 25 EUR
- **Plus:** 100 EUR a month, setup 25 EUR
- **Bespoke:** Custom pricing

### Incoming

- SEPA (Essential): Free
- SEPA (Plus): €1
- SWIFT / international (Essential): €15 · Top-up in GBP, USD or EUR by SWIFT
- SWIFT / international (Plus): €25 · Top-up in GBP, USD or EUR by SWIFT

### Outgoing

- SEPA (Essential): €1
- SEPA (Plus): €2.5
- SWIFT / international (Essential): €7 · Express payment in CHF, GBP, EUR or USD; CNY €15, HKD or SGD €22
- SWIFT / international (Plus): €17 · Express payment in CHF, GBP, EUR or USD; CNY €25, HKD or SGD €32

### Currency exchange (FX)

- FX markup (Essential): 0.5% · PLN 0.5%, CZK/GBP/USD 0.6%, CHF/DKK/NOK/SEK 0.75%, BGN/RON 0.8%, CNY/HKD/HUF/SGD 0.9%
- FX markup (Plus): 0.6% · PLN 0.6%, CZK/GBP/USD 0.7%, CHF/DKK/NOK/SEK 0.85%, BGN/RON 0.9%, CNY/HKD/HUF/SGD 1%

### Cards

- Physical card issue: Not offered

## Opening an account

Opening an account typically takes three to five business days.

1. **Join.** Choose Join OKEO and the account type; verify your email and phone.
2. **Identity.** Verify your identity online.
3. **Company.** Give the business information and documents and verify the directors and owners.
4. **Review.** Okeo reviews the application, usually within 3 business days of receiving everything.

Documents: Not published

## Pros and cons

- Pro: Named IBANs in EUR, GBP, PLN and USD, up to 10, with your own number
- Pro: Free incoming SEPA on Essential; SEPA out €1
- Pro: Payments in 15 currencies, including CNY, HKD and SGD
- Pro: Published FX rates from 0.5% (PLN) to 0.9% (CNY, HKD, HUF, SGD) on Essential
- Pro: Companies from the EEA, Switzerland and the UK, most legal forms
- Con: €25 company verification fee and €15 or €100 a month
- Con: SWIFT top-ups cost €15 (Essential) or €25 (Plus)
- Con: Owners and representatives must be citizens of the EEA, Switzerland, Ukraine or the UK
- Con: No cards
- Con: Trusts, foundations, charities, crypto, gambling and forex refused

## Finzil's take (opinion)

Okeo is a small Lithuanian EMI with a clear, published price list, named IBANs in four currencies and a choice of your own IBAN number. Its citizenship rule for owners and the refusals of crypto, gambling and forex narrow who it fits.

## Alternatives

- [Paysera](https://finzil.com/providers/paysera): E-money institution · Lithuania
- [Genome](https://finzil.com/providers/genome): E-money institution · Lithuania
- [Wise Business](https://finzil.com/providers/wise): E-money institution · UK, Belgium
- [Revolut Business](https://finzil.com/providers/revolut): Bank · UK, Lithuania

## FAQ

**Is Okeo a bank?**

No. Okeo Payments UAB is an e-money institution licensed by the Bank of Lithuania (LB001991, licence No. 71). Funds are safeguarded at an EU commercial bank, not covered by deposit guarantee.

**How much does Okeo cost?**

€25 for company verification, then Essential €15 or Plus €100 a month. On Essential, incoming SEPA is free, outgoing SEPA €1, SWIFT express payments €7 and SWIFT top-ups €15; FX costs 0.5% to 0.9% by currency.

**Which companies can open an account?**

Companies registered in the EEA, Switzerland or the UK: private and public limited companies, LLPs, partnerships and sole proprietorships. Representatives and owners must be citizens of the EEA, Switzerland, Ukraine or the UK. Trusts, foundations, charities, associations and public institutions are not served.

**Which industries does Okeo refuse?**

Adult, weapons, drugs, precious metals and stones, fur and ivory, tobacco and alcohol, counterfeit goods, chemicals, auctions, crypto, MLM, streaming, video-game arcades, casinos and gambling, unlicensed and unregulated businesses such as forex trading.

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