Overview
Phoenix Payments, at a glance.
Phoenix Payments is an e-money institution headquartered in Lithuania, regulated by Bank of Lithuania. Business accounts cost from €59 a month. Opening an account takes 3–5 days.
Why businesses pick Phoenix Payments
- IBANs in Germany, Luxembourg, Denmark and the UK
- SEPA Instant and UK Faster Payments
- Two published plans, at €59 and €180 a month
Watch out for
- Currency exchange costs 1.5% on the Advanced plan
- SWIFT payments cost 0.15% with a €19 minimum
- Cards are not available yet
- How client funds are safeguarded is not set out on its site
- Accepted countries and refused industries are not published
Business fit
Will Phoenix Payments 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 Phoenix Payments's published rules
Needs review
Phoenix Payments works with Businesses needing EUR business accounts, but does not publish the countries it accepts companies from.
Phoenix Payments 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 Phoenix Payments publishes about the businesses it takes on.
Who Phoenix Payments serves
- Startups and SMEs
- E-commerce
- Financial institutions
All 5 industries on Phoenix Payments's accepted list
- Businesses needing EUR business accounts
- Cross-border businesses
- Businesses needing multicurrency IBANs
- Companies needing SEPA/SWIFT/local rails
- Businesses needing payment infrastructure
Not supported
Industries and countries Phoenix Payments does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use Phoenix Payments?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
3 currencies
- EUR
- GBP
- DKK
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Not publishedPricing
What does Phoenix Payments 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
Not published
Monthly fee
€59–180
depends on plan
Business Standard
Lowest cost€59 per month
Setup fee not published
Business Advanced
€180 per month
Setup fee not published
Transaction fees
| Cost | Business Standard | Business Advanced | How it is charged |
|---|---|---|---|
| Incoming | |||
| SWIFT / international | Not published | 0.15%, min €9 | |
| Outgoing | |||
| SWIFT / international | Not published | 0.15%, min €19 | |
Other fees
Currency exchange (FX)
| Cost | Business Standard | Business Advanced | How it is charged |
|---|---|---|---|
| FX markup | Not published | 1.5% |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply
Start the application online or through the sales team.
- 2
Company and people
Give the company's registration details, directors and owners.
- 3
Checks
Upload the documents requested and complete identity verification.
- 4
Account live
Once approved, the account is opened and you receive its details.
Documents you need
Not published
FAQ
Your questions, answered.
Is Phoenix Payments a bank?
No. UAB Phoenix Payments is an e-money institution licensed by the Bank of Lithuania, register code LB000477.
How much does a Phoenix Payments account cost?
Business Standard costs €59 a month and Business Advanced €180. On Advanced, a SWIFT payment costs 0.15% with a €19 minimum and currency exchange 1.5%.
Which IBANs does Phoenix Payments offer?
Individual and virtual IBANs with German, Luxembourg, Danish and UK prefixes.
Does Phoenix Payments offer cards?
Not yet. Cards are marked as coming soon.
Alternatives
How Phoenix Payments compares.
If Phoenix Payments is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
| Phoenix PaymentsThis pageE-money institution |  | Local IBANsSEPA Instant |
 ConnectPayE-money institution | | 80+ currenciesOnline businesses |
 WittixE-money institution | | Local IBANsBulk payments |
 PayswixE-money institution | | Named IBANSEPA and SWIFT |
 PayseraE-money institution |  | Low fees16 support languages |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.