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 provides payment initiation service. From now on private and business clients, having accounts in:

  • AB SEB bankas in Lithuania;
  • AS SEB banka in Latvia;
  • AS SEB PANK in Estonia;
  • AS LHV Pank in Estonia;

as well as Swedbank banks in the Baltic countries (Lithuania, Latvia and Estonia), can initiate payments from the accounts held in these banks; and when using the internet banking facility of Swedbank in Lithuania, they can transfer money to another bank operating in the same country.

Important! Even though you must fill in the transfer payment form using the using the internet banking facility of Swedbank, the payment order is executed on the account at the other bank, where the payment is initiated.

Before using payment initiation, please, onboard your other bank’s account to Swedbank Internet Bank and/or check if access to the other bank account is valid. You can find out how to do it and other important information about Payment Initiation service here.

Account information service

Attention! Swedbank expands Account Information Service and starts to provide other banks’ statements in Swedbank Internet Bank. Private and corporate customers who also have accounts in:

  • AB SEB bankas in Lithuania;
  • AS SEB banka in Latvia;
  • AS SEB PANK in Estonia;
  • AS LHV Pank in Estonia;

as well as Swedbank banks in other Baltic countries (Lithuania, Latvia and Estonia) are able to see the balances and statements of these accounts in their Swedbank internet bank facility. Customers can also manage their consents, given to view this information, in Swedbank internet bank. You can find out the most important information about Account Information service here.

Swedbank Open Banking
If you are interested in Swedbank Open Banking and Swedbank API, we invite you to visit Open Banking page.