Overview
Satchel, at a glance.
Satchel is an e-money institution headquartered in Lithuania, regulated by Bank of Lithuania. Business accounts cost from €5 a month. Opening an account takes 7–10 days. Non-residents are accepted: companies and owners from outside the EU and EEA apply on the International tariff.
Balances are electronic money held in segregated accounts. They are not bank deposits.
Why businesses pick Satchel
- European IBAN in your company's name
- Accepts non-residents, on its International tariff
- Incoming SEPA payments are free
- 38 currencies and Mastercard business cards
Watch out for
- International companies pay €1,075 to open and €50 a month
- Outgoing SWIFT costs 0.5%, with a €35 minimum
- Does not onboard companies or owners from about 100 listed jurisdictions
- No deposit insurance
Business fit
Will Satchel 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 Satchel's published rules
Likely fit
Satchel lists both United Kingdom companies and Import and export as accepted.
Satchel 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 Satchel publishes about the businesses it takes on.
Who Satchel serves
- Import and export
- Startups and SMEs
Not supported
Industries and countries Satchel does not accept, from its own published lists.
Industries
- Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and agreements, including host-country environmental, health and safety and labour requirements
- Production or trade in weapons and munitions
- Production, trade, storage, or transport of significant volumes of hazardous chemicals, or commercial-scale usage of hazardous chemicals
- Trade in wildlife or wildlife products regulated under CITES
- Production or trade in radioactive materials
- Commercial logging operations or purchase of logging equipment for use in primary tropical moist forest
- Production or trade in pharmaceuticals subject to international phase-outs or bans
- Production or trade in pesticides/herbicides subject to international phase-outs or bans
- Drift-net fishing in the marine environment using nets over 2.5 km
- Production or activities involving harmful or exploitative forced labour or harmful child labour
- Production or trade in ozone-depleting substances subject to international phase-out
- Production or trade in wood or other forestry products from unmanaged forests
- Money exchange dealings
- Any business relating to prostitution
- Quarries, mining, or processing of metal ores or coal
- Giving or receiving gifts intended to influence business decisions
- Illegal use of confidential material and non-public information
- Trading of animal fur, bones and ivory
- Diamond trading without Kimberley Certification
- Creation of indecent and obscene material including child pornography
- Trading of cultural objects such as sculptures, statues, antiques, collectors’ items and archaeological pieces, especially from Iraq
- Trading of fireworks, explosives and weapons
- Drug trafficking including chemicals used to manufacture synthetic drugs
- Trading in derivatives/options/hedging
- Non-licensed offline gambling/betting/casino/horse racing/bingo/sports betting
- Non-licensed online casino/online poker/online gambling/online betting/prize draws/gift cards/any form of lottery/scratch cards
- Trading of bearer shares and bonds
- Dealing in jewels, gems and precious metals
- Non-licensed forex/binary options
Countries
- Afghanistan · owners
- American Samoa · owners
- Angola · owners
- Bangladesh · owners
- Barbados · owners
- Benin · owners
- Bolivia · owners
- Botswana · owners
- Brunei · owners
- Burkina Faso · owners
- Burundi · owners
- Cambodia · owners
- Cameroon · owners
- Cayman Islands · owners
- Central African Republic · owners
- Chad · owners
- Christmas Island · owners
- Congo - Kinshasa · owners
- Congo - Brazzaville · owners
- Côte d’Ivoire · owners
- Cuba · owners
- Djibouti · owners
- Dominica · owners
- Equatorial Guinea · owners
- Eritrea · owners
- Ethiopia · owners
- Fiji · owners
- French Southern Territories · owners
- Gabon · owners
- Gambia · owners
- Ghana · owners
- Guam · owners
- Guinea-Bissau · owners
- Guinea · owners
- Guyana · owners
- Haiti · owners
- Honduras · owners
- Iran · owners
- Iraq · owners
- Jamaica · owners
- Kiribati · owners
- Kosovo · owners
- Kyrgyzstan · owners
- Laos · owners
- Lebanon · owners
- Lesotho · owners
- Liberia · owners
- Libya · owners
- Madagascar · owners
- Malawi · owners
- Maldives · owners
- Mali · owners
- Mauritania · owners
- Mauritius · owners
- Micronesia · owners
- Mongolia · owners
- Mozambique · owners
- Myanmar (Burma) · owners
- Namibia · owners
- Nauru · owners
- Nicaragua · owners
- Niger · owners
- Nigeria · owners
- Niue · owners
- North Korea · owners
- Pakistan · owners
- Palau · owners
- Palestinian Territories · owners
- Panama · owners
- Papua New Guinea · owners
- Pitcairn Islands · owners
- Russia · owners
- Rwanda · owners
- Samoa · owners
- São Tomé & Príncipe · owners
- Senegal · owners
- Sierra Leone · owners
- South Sudan · owners
- Sri Lanka · owners
- Sudan · owners
- Eswatini · owners
- Syria · owners
- Tajikistan · owners
- Tanzania · owners
- Timor-Leste · owners
- Togo · owners
- Tokelau · owners
- Tonga · owners
- Trinidad & Tobago · owners
- Turkmenistan · owners
- Turks & Caicos Islands · owners
- Tuvalu · owners
- Uganda · owners
- U.S. Outlying Islands · owners
- U.S. Virgin Islands · owners
- Vanuatu · owners
- Vatican City · owners
- Venezuela · owners
- Western Sahara · owners
- Yemen · owners
- Zambia · owners
- Zimbabwe · owners
- Afghanistan · company or owners
- American Samoa · company or owners
- Angola · company or owners
- Bangladesh · company or owners
- Barbados · company or owners
- Benin · company or owners
- Bolivia · company or owners
- Botswana · company or owners
- Brunei · company or owners
- Burkina Faso · company or owners
- Burundi · company or owners
- Cambodia · company or owners
- Cameroon · company or owners
- Cayman Islands · company or owners
- Central African Republic · company or owners
- Chad · company or owners
- Christmas Island · company or owners
- Congo - Kinshasa · company or owners
- Congo - Brazzaville · company or owners
- Côte d’Ivoire · company or owners
- Cuba · company or owners
- Djibouti · company or owners
- Dominica · company or owners
- Equatorial Guinea · company or owners
- Eritrea · company or owners
- Ethiopia · company or owners
- Fiji · company or owners
- French Southern Territories · company or owners
- Gabon · company or owners
- Gambia · company or owners
- Ghana · company or owners
- Guam · company or owners
- Guinea-Bissau · company or owners
- Guinea · company or owners
- Guyana · company or owners
- Haiti · company or owners
- Honduras · company or owners
- Iran · company or owners
- Iraq · company or owners
- Jamaica · company or owners
- Kiribati · company or owners
- Kosovo · company or owners
- Kyrgyzstan · company or owners
- Laos · company or owners
- Lebanon · company or owners
- Lesotho · company or owners
- Liberia · company or owners
- Libya · company or owners
- Madagascar · company or owners
- Malawi · company or owners
- Maldives · company or owners
- Mali · company or owners
- Mauritania · company or owners
- Mauritius · company or owners
- Micronesia · company or owners
- Mongolia · company or owners
- Mozambique · company or owners
- Myanmar (Burma) · company or owners
- Namibia · company or owners
- Nauru · company or owners
- Nicaragua · company or owners
- Niger · company or owners
- Nigeria · company or owners
- Niue · company or owners
- North Korea · company or owners
- Pakistan · company or owners
- Palau · company or owners
- Palestinian Territories · company or owners
- Panama · company or owners
- Papua New Guinea · company or owners
- Pitcairn Islands · company or owners
- Russia · company or owners
- Rwanda · company or owners
- Samoa · company or owners
- São Tomé & Príncipe · company or owners
- Senegal · company or owners
- Sierra Leone · company or owners
- South Sudan · company or owners
- Sri Lanka · company or owners
- Sudan · company or owners
- Eswatini · company or owners
- Syria · company or owners
- Tajikistan · company or owners
- Tanzania · company or owners
- Timor-Leste · company or owners
- Togo · company or owners
- Tokelau · company or owners
- Tonga · company or owners
- Trinidad & Tobago · company or owners
- Turkmenistan · company or owners
- Turks & Caicos Islands · company or owners
- Tuvalu · company or owners
- Uganda · company or owners
- U.S. Outlying Islands · company or owners
- U.S. Virgin Islands · company or owners
- Vanuatu · company or owners
- Vatican City · company or owners
- Venezuela · company or owners
- Western Sahara · company or owners
- Yemen · company or owners
- Zambia · company or owners
- Zimbabwe · company or owners
Coverage
Where can you use Satchel?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
38 currencies
Payment reach
100+ countries
SEPA and SEPA Instant across the SEPA area, and SWIFT to over 100 countries.
Who can apply
Company incorporation countries148 countries · show list
- Åland Islands
- Albania
- Algeria
- Andorra
- Anguilla
- Antarctica
- Antigua & Barbuda
- Argentina
- Armenia
- Aruba
- Australia
- Austria
- Azerbaijan
- Bahamas
- Bahrain
- Belarus
- Belgium
- Belize
- Bermuda
- Bhutan
- Bosnia & Herzegovina
- Bouvet Island
- Brazil
- British Indian Ocean Territory
- British Virgin Islands
- Bulgaria
- Canada
- Cape Verde
- Caribbean Netherlands
- Chile
- China
- Cocos (Keeling) Islands
- Colombia
- Comoros
- Cook Islands
- Costa Rica
- Croatia
- Curaçao
- Cyprus
- Czechia
- Denmark
- Dominican Republic
- Ecuador
- Egypt
- El Salvador
- Estonia
- Falkland Islands
- Faroe Islands
- Finland
- France
- French Guiana
- French Polynesia
- Georgia
- Germany
- Gibraltar
- Greece
- Greenland
- Grenada
- Guadeloupe
- Guatemala
- Guernsey
- Heard & McDonald Islands
- Hong Kong SAR China
- Hungary
- Iceland
- India
- Indonesia
- Ireland
- Isle of Man
- Israel
- Italy
- Japan
- Jersey
- Jordan
- Kazakhstan
- Kenya
- Kuwait
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Macao SAR China
- Malaysia
- Malta
- Marshall Islands
- Martinique
- Mayotte
- Mexico
- Moldova
- Monaco
- Montenegro
- Montserrat
- Morocco
- Nepal
- Netherlands
- New Caledonia
- New Zealand
- Norfolk Island
- North Macedonia
- Northern Mariana Islands
- Norway
- Oman
- Paraguay
- Peru
- Philippines
- Poland
- Portugal
- Puerto Rico
- Qatar
- Réunion
- Romania
- San Marino
- Saudi Arabia
- Serbia
- Seychelles
- Singapore
- Sint Maarten
- Slovakia
- Slovenia
- Solomon Islands
- Somalia
- South Africa
- South Georgia & South Sandwich Islands
- South Korea
- Spain
- St. Barthélemy
- St. Helena
- St. Kitts & Nevis
- St. Lucia
- St. Martin
- St. Pierre & Miquelon
- St. Vincent & Grenadines
- Suriname
- Svalbard & Jan Mayen
- Sweden
- Switzerland
- Taiwan
- Thailand
- Tunisia
- Türkiye
- Ukraine
- United Arab Emirates
- United Kingdom
- United States
- Uruguay
- Uzbekistan
- Vietnam
- Wallis & Futuna
Owner nationality and residency148 countries · show list
- Åland Islands
- Albania
- Algeria
- Andorra
- Anguilla
- Antarctica
- Antigua & Barbuda
- Argentina
- Armenia
- Aruba
- Australia
- Austria
- Azerbaijan
- Bahamas
- Bahrain
- Belarus
- Belgium
- Belize
- Bermuda
- Bhutan
- Bosnia & Herzegovina
- Bouvet Island
- Brazil
- British Indian Ocean Territory
- British Virgin Islands
- Bulgaria
- Canada
- Cape Verde
- Caribbean Netherlands
- Chile
- China
- Cocos (Keeling) Islands
- Colombia
- Comoros
- Cook Islands
- Costa Rica
- Croatia
- Curaçao
- Cyprus
- Czechia
- Denmark
- Dominican Republic
- Ecuador
- Egypt
- El Salvador
- Estonia
- Falkland Islands
- Faroe Islands
- Finland
- France
- French Guiana
- French Polynesia
- Georgia
- Germany
- Gibraltar
- Greece
- Greenland
- Grenada
- Guadeloupe
- Guatemala
- Guernsey
- Heard & McDonald Islands
- Hong Kong SAR China
- Hungary
- Iceland
- India
- Indonesia
- Ireland
- Isle of Man
- Israel
- Italy
- Japan
- Jersey
- Jordan
- Kazakhstan
- Kenya
- Kuwait
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Macao SAR China
- Malaysia
- Malta
- Marshall Islands
- Martinique
- Mayotte
- Mexico
- Moldova
- Monaco
- Montenegro
- Montserrat
- Morocco
- Nepal
- Netherlands
- New Caledonia
- New Zealand
- Norfolk Island
- North Macedonia
- Northern Mariana Islands
- Norway
- Oman
- Paraguay
- Peru
- Philippines
- Poland
- Portugal
- Puerto Rico
- Qatar
- Réunion
- Romania
- San Marino
- Saudi Arabia
- Serbia
- Seychelles
- Singapore
- Sint Maarten
- Slovakia
- Slovenia
- Solomon Islands
- Somalia
- South Africa
- South Georgia & South Sandwich Islands
- South Korea
- Spain
- St. Barthélemy
- St. Helena
- St. Kitts & Nevis
- St. Lucia
- St. Martin
- St. Pierre & Miquelon
- St. Vincent & Grenadines
- Suriname
- Svalbard & Jan Mayen
- Sweden
- Switzerland
- Taiwan
- Thailand
- Tunisia
- Türkiye
- Ukraine
- United Arab Emirates
- United Kingdom
- United States
- Uruguay
- Uzbekistan
- Vietnam
- Wallis & Futuna
Company types
Registered companies
Pricing
What does Satchel 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 €50
depends on plan
Monthly fee
€5–50
depends on plan
Local (Lithuania)
Lowest cost€5 per month
€50 setup · €110 in year one
European
€35 per month
€375 setup · €795 in year one
International
€50 per month
€1,075 setup · €1,675 in year one
Transaction fees
| Cost | Local (Lithuania) | European | International | How it is charged |
|---|---|---|---|---|
| Incoming | ||||
| SEPA | Free | Free | Free | No charge |
| SWIFT / international | 0.2%, min €10 | 0.2%, min €10 | 0.2%, min €10 | Percentage, with a minimum charge |
| Outgoing | ||||
| SEPA | €3 | €3 | €5 | Fixed fee |
| SWIFT / international | 0.5%, min €35 | 0.5%, min €35 | 0.5%, min €35 | Percentage, with a minimum charge |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Physical card issue | €4–9 | Fixed fee; varies by plan |
| Delivery | €10 | Fixed fee |
| Express delivery | From €100 | Fixed fee |
| Card FX | 1% | Percentage of the amount |
Onboarding
From application to live account.
Satchel says its compliance review can take up to 7 to 10 business days.
- 1
Online application
Apply for a corporate account and set your password.
- 2
Identity check
Verify remotely in the Satchel app with a passport or national ID.
- 3
Documents
Company, director and shareholder documents, with a description of the business.
- 4
Account live
Compliance reviews the application and the account is activated.
Documents you need
- Passport or ID for business owner/directors/primary shareholders
- Proof of address
- Detailed business description
- Corporate documents
- Client/supplier supporting documents
- Initial-funding supporting documents
FAQ
Your questions, answered.
Is Satchel a bank?
No. SatchelPay, UAB is an e-money institution licensed by the Bank of Lithuania, authorisation code LB000448. Balances are electronic money, not bank deposits.
How much does a Satchel business account cost?
A Lithuanian company pays €50 to open and €5 a month. An EU or EEA company pays €375 and €35 a month. International companies pay €1,075 and €50 a month. Incoming SEPA is free, outgoing SEPA costs €3 to €5, and outgoing SWIFT 0.5% with a €35 minimum.
Can non-residents open a Satchel account?
Yes. Companies and owners from outside the EU and EEA apply on the International tariff, unless they are from one of Satchel's blacklisted jurisdictions.
Which businesses does Satchel not accept?
Its prohibited list includes weapons, tobacco, alcohol, pharmaceuticals, pornography, unlicensed gambling, charities, auctions, religious organisations and multi-level marketing.
How long does it take to open a Satchel account?
Satchel says its compliance review can take up to 7 to 10 business days.
Does Satchel offer cards?
Yes. Virtual and physical Mastercard cards. Issuing costs €4 to €9 depending on the plan, and card payments in another currency carry a 1% markup.
Alternatives
How Satchel compares.
If Satchel is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 SatchelThis pageE-money institution |  | European IBANMastercard cards |
 GenomeE-money institution | | Published pricesVisa cards |
 VialetE-money institution | | Dedicated IBANDigital businesses |
 NexpayE-money institution | | Dedicated IBANCrypto and gaming |
 3S MoneyE-money institution |    | Local IBANsNon-residents accepted |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.