Domestic payments

• How long does it take to remit money?

  • If the sender’s and the beneficiary’s accounts are opened with Swedbank, AB, the remit will take place on the same day.
  • An ordinary money transfer in EUR to a credit institution in Lithuania will be executed on the same business day, if a payment order is submitted before 4:00 p.m. If payment orders are submitted after the specified time, payments will be executed the next business day.
  • Urgent money transfer in EUR to a credit institution in Lithuania will be executed on the same business day, if a payment order is submitted before 4:00 p.m. Payment order will be sent to the beneficiary’s bank immediately.
  • If the amount of a payment order is EUR 30,000 (or the equivalent of this amount in any other currency) or more, the term for execution of the payment order may be extended on the Bank’s initiative but shall not exceed the limits established in the Republic of Lithuania Law on Payments.

• Transfers to accounts in other banks

  As of 1 January 2016, payments in EUR are executed via the European clearing platform EBA STEP2 on each bank business day. Payments are not executed on Saturday, Sunday, the Good Friday before Easter and on other holidays or public holidays as established in legislation of the Republic of Lithuania.

  Money transfers between accounts with other banks are executed on bank business days five times a day.

  On bank business days, payments 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 and may be later than indicated in the table.

• How to remit foreign currency to a bank registered in Lithuania?

  To submit a payment order in foreign currency to the banks registered in Lithuania, you have to complete an international payment order form. The execution of money transfer in foreign currency will be charged according to the rates of fees and transactions charged at the time of the transaction for payment orders in foreign currency.

Important

Please be careful when entering the beneficiary’s account number so as to make sure that money reaches the account of the desired beneficiary.

If both the beneficiary and the sender have the accounts within Swedbank, AB, during the crediting of the amount to the beneficiary’s account, the correspondence of the beneficiary’s account number specified in the payment order in IBAN format will be verified against the beneficiary’s name and surname (company name).

Should an obvious mismatching between the account number in IBAN format and the beneficiary’s name and surname (company name) be identified, the bank will not execute such payment order.

If the sender’s account is in another bank, monetary funds will be credited to the beneficiary’s account with Swedbank, AB only according to the account number in IBAN format specified in the payment order. The Bank does not verify, whether the account specified in the payment order belongs to the beneficiary; 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, surname (company name).