Domestic payments

Domestic payment is a credit transfer of any currency from one’s account to the beneficiary’s account within Swedbank, AB, or money in EUR to the beneficiary’s account in a bank or payment services institution in Lithuania.

Please note that Good Friday before Easter (10 April 2020) is a rest day for the clearing system of the European Association of Banks therefore, “Swedbank” will perform not all interbank transfers. Instant payments can be performed on any day to the accounts opened in the banks SEB, Citadele, Šiaulių bankas and Paysera.

An instant payment is performed if it is submitted via “Swedbank” mobile application or in the Internet Bank by choosing the form “New payment”, and for the amount below EUR 15 000, for which no secondary confirmation is required.

More information on the transfer terms and conclusions are available here.

  • If the sender’s and the beneficiary’s accounts are opened with Swedbank, AB, the remittance in any currency will take place on the same day.
  • Instant transfer in EUR to other bank or payment services institution in Lithuania that has joined Instant payments scheme will be executed within several seconds at any time 24 hours per day 7 days per week.
  • An ordinary money transfer in EUR to a bank or payment services institution in Lithuania will be executed on the same workday, if the payment order is submitted before 4 PM. If payment orders are submitted after the time specified, payments will be executed on the next workday.
  • Urgent money transfer in EUR to a bank or payment services institution in Lithuania will be executed on the same workday, if a payment order is submitted before 4 PM. Payment order will be sent to the beneficiary’s bank immediately.
  • If the amount of a payment order is EUR 30000 (or the equivalent of this amount in any other currency) or more, the term for payment order execution may be extended on the bank’s initiative but shall not exceed the limits established in the Republic of Lithuania Law on Payments.

If transfer can be executed as instant it will be executed within several seconds at any time (24 hours per day 7 days per week). In other cases You will be able to choose to make it as ordinary or as urgent.

Instant transfer will be sent to the bank or payment services institution registered in Lithuania that has joined Instant payments scheme . If the transfer amount is less than EUR 15 000, order presented via Swedbank APP or Internet bank form New payment, double acceptance not needed and future value date not set.

Ordinary transfers in EUR to banks or payment services institutions registered in Lithuania are executed on the 5 times a day on workdays of the European clearing platform EBA.

Payments are not executed on Saturday, Sunday, Great Easter Friday, second Easter day, 1st of May, 25th and 26th of December and 1st of January.

During the workdays of clearing system, payments in EUR are executed as follows:

Time of payment order submission Approximate time of money transfer in the clearing system*
07:00 – 09:45 11:15
09:45 – 12:15 13:45
12:15 – 14:45 val. 16:15
14:45 – 16:00 17:45
From 16:00 to 07:00 of the next business day 09:00

*The actual time of money being credited to a beneficiary’s account depends on the beneficiary’s bank or payment services institution and may be later than indicated in the table.

To submit a payment order in foreign currency to the banks or payment services institutions registered in Lithuania, you must complete an international payment form.

Money transfer in USD to banks or payment services institutions registered in Lithuania will be sent on the same bank workday if the payment order is submitted before 3 PM.

Money transfers in other foreign currency to banks registered in Lithuania will be sent within 1 bank workday if the payment order is submitted before 2 PM.

Important

Please make sure to enter the right beneficiary’s account number & check it before confirming the payment to be sure that money goes to the right person or company.

If both the beneficiary and the remitter have accounts within Swedbank, AB, the match between beneficiary’s name and account number will be verified when executing the transfer.

If an obvious mismatch will be detected between the account number and account holder name, the bank will not proceed with the payment order.

If the sender’s account is in another bank or payment services institution, money will be credited to the beneficiary’s Swedbank account only according to the account number specified in the payment order. In this situation the bank does not verify, whether the account and beneficiary’s name match. For this reason, if an incorrect account number in IBAN format is provided, money may be credited to another client’s account regardless of the specified beneficiary’s name.