Payment Service Directive (PSD2)

Payment and account information services

  • At the start of 2018 the revised Payment Service Directive, known as PSD2, took effect in the EU. Its provisions were transferred to Republic of Lithuania Law on Payments.
  • Through PSD2, new players are introduced to the payment market, both payment initiation service providers, and account information service providers.
  • Services can be provided by banks and other third party providers (TPPs) that have a licence from FSA.
  • On 14 September 14 2019 new technical standards defining measures of practical implementation of PSD2 come into force, thus setting new security standards for how payments shall be processed.
Payment Initiation service

Attention! Swedbank is starting to provide a Payment Initiation service. From now on, private and business clients with accounts in AB SEB Bankas, in Lithuania and AS SEB PANK in Estonia as well as Swedbank banks in the Baltic countries (Lithuania, Latvia and Estonia), can initiate payments from accounts held in these banks transferring money to the other bank operating in the same country by using the Internet Bank of Swedbank in Lithuania.
Important! Even though you can fill in the payment form in the environment of Swedbank Internet Bank, the payment order will be executed from the account of th bank that holds the account from which the payment is initiated.

Before using payment initiation, please, onboard your other bank’s account, which will be used to initiate payments, to Swedbank Internet Bank and/or check if access to it is still valid. Please find out how to do it and the rest of the most important information about the Payment Initiation service here.

Account information service
Swedbank is providing an account information service. Private and corporate customers who also have accounts in AB SEB Bank in Lithuania and AS SEB PANK in Estonia as well as Swedbank banks in other Baltic countries (Lithuania, Latvia and Estonia) are able to see the balances of these accounts in their Swedbank Internet Bank environment. Customers can also manage their consents, given to view this information, in Swedbank Internet Bank.
Swedbank Open Banking
If you are interested in Swedbank Open Banking and Swedbank API, we invite you to visit Open Banking page.