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Frequently asked questions

Accounts and Transfers

  • How can I cancel a domestic payment?

    You can cancel payments (including standing orders) in the "List of payments" section of the Internet Bank. In the "List of payment" you will find payment orders that you submitted after the specified bank hours or on bank non-business days, if such payments were not sent from the bank.

    Note: in certain cases (subject to technical possibilities) payment orders to transfer euros to another bank in Lithuania submitted on bank business days between 16:00 and 16:30 may be performed and reach the beneficiary's bank on the same bank business day.

    If you do not find the payment you want to cancel in the "List of payments", then you need to send the message "Payment order cancellation" in the Internet Bank. In this case, the cancellation of the payment will be subject to a commission fee according to the applicable bank services and operations fees, regardless of whether the funds will be refunded.

    If the payment was sent to another bank, we will contact the beneficiary’s bank with a request for a refund. The funds will be refunded only with the consent of the beneficiary.

  • How can I cancel a payment made from the funds borrowed from the bank (credit limit, credit line, overdraft)?

    You can cancel payments (including standing orders) in the "List of payments" section of the Internet Bank. In the "List of payment" you will find payment orders that you submitted after the established bank hours or on bank non-business days, if such payments were not sent from the bank.

    Note: in certain cases (subject to technical possibilities) payment orders to transfer euros to another bank in Lithuania submitted on bank business days between 16:00 and 16:30 may be performed and reach the beneficiary's bank on the same bank business day.

    Note: If you cancel the payment on the next day after submitting the payment order, you can apply via an Internet Bank message to recalculate / revise the accrued credit interest.

    If you do not find the payment you want to cancel in the "List of payments", then you need to send the message "Payment order cancellation" in the Internet Bank. In this case, the cancellation of the payment will be subject to a commission fee according to the applicable bank services and operations fees, regardless of whether the funds will be refunded.

    If the payment was sent to another bank, we will contact the beneficiary’s bank with a request for a refund. The funds will be refunded only with the consent of the beneficiary.

  • When will the payee receive a money transfer to another bank of Lithuania?

    The beneficiary will receive money in a few seconds at any time of the day if Bank could execute the transfer as instant payment:

    • The beneficiary account is within a payment institution registered in Lithuania that has joined Instant payments scheme;
    • Transfer amount is less than EUR 15 000 and it’s being made via Swedbank app or Internet bank by selecting "New payment"

    Otherwise, the ordinary money transfer in euros to another bank or payment service institution registered in Lithuania will be sent on the same day, if the payment order is submitted on bank working days before 4 p.m. If the payment order is submitted later or on Saturdays, Sundays, January 1, Good Friday, Easter Monday, May 1, December 25 and 26, the money will be sent on the next working day.

  • What fee is charged for a money transfer?

    The fees for SEPA money transfers are available here.

    The fees for non-SEPA money transfers are available here.

  • Is it necessary to indicate the payment code when making a money transfer?
    Either a payment purpose or a payment code must be indicated in a payment order. The payment code must be indicated in all cases when transfers are made to the accounts of the STI, the State Social Insurance Fund (SODRA) and Customs Department.
  • When will the payee receive a money transfer to another account with Swedbank?
    Money will be credited to another account with Swedbank immediately.
  • What should I do if I have made a money transfer to a wrong payee?

    If the payee is known to you, you can ask the payee to repay the funds to you.

    If the payee is not known to you, send a message from the Internet Bank or complete a free-form request for repayment of the funds at the Bank’s branch. The funds will be repaid only with the payee’s consent. For cancellation of the payment order you will be charged a fee fixed in the Fees for Services and Operations of the Bank.

  • What should I do if, after making a money transfer, I noticed that the payee’s name was indicated incorrectly?
    Write to us a message in the Internet Bank, call at the phone number 1884, or visit the Bank’s branch.
  • If I made a money transfer with a specified wrong payment purpose, is it possible to change the payment purpose?
    The payment purpose of a domestic money transfer which was already sent cannot be changed.
  • What should I do if the payment order made by me has not reached the payee’s account?
    Write a message in the Internet Bank for the clarification of circumstances.
  • When will an urgent domestic money transfer order reach the payee’s bank?
    The payee’s bank account should be credited with funds of the money transfer not later than within one hour.
  • What fee is charged for an urgent domestic credit transfer?
    The fees for SEPA money transfers are available here.
  • How to make correctly and international money transfer?
    The name of the payee’s bank and of the payee as well as the payee’s account number must be indicated correctly.
  • Why after making an international money transfer I can’t see it immediately in the statement of account?
    When an international money transfer is made, it can be immediately viewed in the Internet Bank section “History” and in the statement of account it will be show after 20 minutes.
  • How to make a money transfer to a foreign country in the currency other then euro?
    Select in the Internet Bank the menu item “International payments” and complete the international payment order form.
  • What should I do if the currency in which I want to make a money transfer is not specified in the list?
    You can't make a money transfer in the currency which is not specified in the list. You can select another currency from the list for making the money transfer.
  • What requisites should be specified in order to receive a money transfer from a foreign bank?
    Examples of money transfers are available here.
  • What are SWIFT and BIC? Where can I find these codes?

    SWIFT (BIC), i.e. the Bank Identification Code consisting of a sequence of 8 or 11 characters and/or numbers: the unique code of a financial institution (4 characters), the country code (2 characters according to the ISO standard of the country where a financial institution is established), and the location code (2 symbols designating geographical objects, e.g., city, county, state or time zone). A financial institution that has several branches in the country can use three symbols for this purpose.

    The payee should provide to you SWIFT (BIC) code of his bank.

  • Where a foreign bank’s sort code should be entered?
    The sort code is a code of banks of England consisting of 6 numbers and should be indicated next to the payee’s bank name.
  • To which countries can I make an international money transfer?
    „Swedbank“ carries out transfers of funds to banks and payment service institutions in Lithuania and other countries, except for: Afghanistan, American Samoa, Anguilla, Aruba, Belarus, Belize, Bhutan, Bonaire, Sint Eustatius and Saba, British Virgin Islands, Brunei Darussalam, Burkina Faso, Burundi, Central African Republic, Chad, Comoros, Cook Islands, Democratic People's Republic of Korea (North Korea), Djibouti, East Timor (Timor Leste), El Salvador, Equatorial Guinea, Eritrea, Eswatini (Swaziland), Fiji, Gambia, Grenada, Guinea, Guinea-Bissau, Haiti, Islamic Republic of Iran, Iraq, Kiribati, Lesotho, Marshall Islands, Mauritania, Myanmar (Burma), Federated States of Micronesia, Montserrat, Nauru, Niger, Niue, Northern Mariana Islands, Palau, Papua New Guinea, Russia, Saint Helena, Saint Lucia, Saint Vincent and the Grenadines, Samoa, Sao Tome and Principe, Syria, Solomon Islands, Somalia, South Sudan, Suriname, Tonga, Turks and Caicos, Tuvalu, Vanuatu, Bolivarian Republic of Venezuela, Wallis and Futuna, Western Sahara.
  • What fee is charged for an international money transfer?
    The Fees for non-SEPA money transfers are available here.
  • If I sent an international money transfer with a specified wrong payment purpose, is it possible to change the payment purpose?
    The payment purpose of the international money transfer (except for the European payments) can be adjusted by completing a request form for the international money transfer at the Bank’s branch. The adjustment of the payment purpose will be charged a commission according to the applicable Fees for Services and Operations of the Bank.
  • What should I do if the payee claims that he has not received a credit transfer made by me?
    You should complete a request form for the international money transfer at the Bank’s branch. The investigation of circumstances of the international money transfer will be charged a commission according to the applicable Fees for Services and Operations of the Bank.
  • Why when making an international credit transfer it is necessary to enter the amount twice?
    The repeated entry of the amount allows ascertaining that you are transferring the required amount to the payee.
  • When will a credit transfer reach a foreign bank?
    The time when the credit transfer will reach the foreign bank depends on the selected payment order type and urgency. The times of submission and execution of a payment order are specified in the Fees for Services and Operations of the Bank.
  • What is a SWIFT copy? How can I order it?
    You can find Payment message (SWIFT) copy by opening the needed transfer from "Account statement" and save it or print it using the standard printing functions of the browser “file” > “print” or “ctrl + p”.
  • Why was the money transfer returned to my account?

    A money transfer may be returned on the initiative of the Bank if the data specified in the money transfer are insufficient for sending it to another bank or if the money transfer does not meet/is in conflict with the established requirements for the prevention of money laundering.

    A money transfer may be returned by a foreign bank because the data specified in it are incomplete or insufficient.

  • How can I cancel an international payment?

    You can cancel the payments in the "List of payments" section of the Internet Bank. In the "List of payments" you will find payment orders that you submitted after the established bank hours or on bank non-business days, if such payments were not sent from the bank.

    Note: in certain cases (if technically possible) payment orders to transfer funds to other banks submitted on bank business days within 30 minutes after the established bank hours may be sent to the beneficiary's bank on the same bank business day.

    If you do not find the payment you want to cancel in the "List of payments", then you need to send the message "Payment order cancellation" in the Internet Bank. In this case, the cancellation of the payment will be subject to a commission fee according to the applicable bank service and transaction fees, regardless of whether the funds will be refunded.

    If the funds are credited to the beneficiary's account or the payment is sent from the bank, then the funds can be returned to the payer only with the consent of the beneficiary.

  • How can I cancel a payment made from the funds borrowed from the bank (credit limit, credit line, overdraft)?

    You can cancel payments (including payments from borrowed funds) in the "List of payments" section of the Internet Bank. In the "List of payment" you will find payment orders that you submitted after the established bank hours or on bank non-business days, if such payments were not sent from the bank.

    Note: in certain cases (if technically possible) payment orders to transfer funds to other banks submitted on bank business days within 30 minutes after the established bank hours may be sent to the beneficiary's bank on the same bank business day.

    Note: If you cancel the payment on the next day after submitting the payment order, you can apply via an Internet Bank message to recalculate / revise the accrued credit interest.

    If you do not find the payment you want to cancel in the "List of payments", then you need to send the message "Payment order cancellation" in the Internet Bank. In this case, the cancellation of the payment will be subject to a commission fee according to the applicable bank services and operations fees, regardless of whether the funds will be refunded.

    If the funds are credited to the beneficiary's account or the payment is sent from the bank, then the funds can be returned to the payer only with the consent of the beneficiary.

  • What fee is charged for receiving of a foreign money transfer?
    The fees for crediting of the received international money transfers are available here.
  • How to create a "Basket of fees and payments"?
    The "Basket of fees and payments" consists of three sections. Saved templates of most frequently made payments are available in the sections “Payments, fees” and “Templates of domestic payments”. Mark in these sections with a plus sign those payments which you make regularly (or create new payments, if you need) and they will be transferred to the “Basket of payments”. Tick in the “Basket of payments” those payments which you want to make at this particular time. Make all payments by one click.
  • How to change the payment account in the "Basket of fees and payments"?
    In order to change the account, tick the particular payment(s) and click to the button “Change account” in the “Basket of payments”.
  • Can I create several templates with the same company?
    Yes, by creating a particular payment template and assigning to it the desired name in the box “Name” you can create the second and more payment templates for services of the same company assigning to them different names.
  • How to know according to what payment code the payment should be made?
    The payment code is specified for the customer in the invoice issued by the company for services.
  • How to find out own payer’s code?
    The payer’s code is assigned to the customer by the company. The payer’s code usually is indicated in the invoice issued by the company for services.
  • How to cancel the "Basket of fees and payments"?
    The "Basket of payments" – the first section of the "Basket of fees and payments" can be adjusted by removing the existing templates and inserting new ones. The "Basket of fees and payments" may be cancelled by removing all templates from the "Basket of payments" (by ticking them and clicking to the button “Remove from the basket of payments”) and removing all templates from sections “Payments and fees” and “Domestic payment templates” (by ticking them and clicking to the button “Delete”).
  • How to order the receipt of e-invoices?

    In order to receive e-invoices you should submit an e-invoice application. You can do this at the e-invoice sender’s company, in the Internet Bank, by calling at the Bank’s phone number 1884, and by visiting the Bank’s branch.

    In order to receive e-invoices and have them paid automatically you should submit an e-invoice application and conclude an e-invoice automatic payment agreement. You can do this in the Internet Bank, by calling at the Bank’s phone number 1884, by visiting the Bank’s branch, or at the e-invoice sender’s company if the company is authorised by the Bank.

  • Why were the funds according to the submitted e-invoice not been debited this month?
    The most frequent reason – insufficient balance. The reasons can be viewed in the section “E-invoice automatic payment agreements” by clicking on the “Payments history” in the line of the particular agreement or in the section “Payments history/Archive” of the column “Status” in the particular e-invoice line.
  • How to know the day on which the funds will be debited according to the submitted e-invoice?
    The payment day is selected when signing an e-invoice automatic payment agreement: 2 days after receiving the e-invoice, on the payment day indicated in the e-invoice or 2 days before the payment day indicated in the e-invoice.
  • Why have I stopped receiving e-invoices? What should I check?

    You should check whether the bank account indicated in the e-invoice application active? The service provider will be able to send an e-invoice to you if the bank account indicated in the e-invoice application is active. If the bank account is closed, you should submit a new e-invoice application and indicate an active bank account.

    You should check whether an e-invoice application was submitted by a customer who has concluded a service agreement with the company The e-invoice application must be submitted by the customer.

    You should check whether the type of an e-invoice application is “New” or “Termination”. The type of the application must be “New”.

    Are you waiting for the first e-invoice after submission of the application? If yes, you should apply to the sender of e-invoices.

  • What is the difference between the application and the automatic payment agreement?
    An e-invoice application is a document by which you order the receipt of e-invoices. An e-invoice automatic payment agreement is a document according to which the Bank debits funds from the customer’s bank account.
  • What is the payer’s code?
    A unique code assigned to the payer by the sender of e-invoices (e.g., a payment code, a customer’s number, an agreement number, etc.).
  • What fee is charged for automatic payment of an e-invoice?
    You can get familiarised with the standard fees for payment of e-invoices here. If you order a service plan, payments of e-invoices will be included in the plan’s monthly fee; therefore, you will not have to pay for them additionally. More information about service plans.
  • How to terminate the receipt of e-invoices?
    You can terminate the receipt of e-invoices by connecting to the Internet Bank, in the section “E-invoice applications”, by calling at the phone number 1884, by visiting the nearest branch of the Bank or by applying to the e-invoice sender.
  • Is it necessary to terminate an e-invoice application and an automatic payment agreement?
    Yes, if you don’t want to receive e-invoices any more.
  • How can I cancel the payment of an e-invoice?
    • An automated payment may be cancelled before the payment day under the E-invoice automated payment service agreement. If the payment is cancelled, the E-invoice will not be paid – the payer will have to pay it himself.
    • An automated payment is also not executed (is cancelled) if the payer pays by local transfer directly from the received e-invoice, without waiting for the payment day selected in the agreement.
    • A customer can himself cancel in the IB the payment of an e-invoice to other banks, if the payment order was submitted after the hours set by the Bank (including weekends or other bank holidays) and the Bank has not yet made the transfer.
  • How to onboard the owned account at the other bank to Swedbank Internet bank?
    You can find this function in Everyday banking menu in Swedbank Internet Bank (Everyday banking -> Account info -> Add other bank’s accounts). You’ll be asked to submit the consent to view other Bank’s accounts in Swedbank Internet Bank and you’ll be redirected to the other bank’s environment to confirm your consent.
  • How long is the consent to view other Bank’s accounts information in Swedbank internet bank valid?
    Consent is unterminated, however, once during a period of 180 days we will ask you to confirm it again. You can review the status and validity until new confirmation of each consent in Swedbank Internet Bank home page under the tab “Accounts in other banks” by pressing the “Manage” button. You can renew and revoke the consent here as well.
  • Where can I start Payment Initiation in Swedbank internet bank?
    You can find this new function in the New Payment form under the Everyday banking menu (Everyday banking/Payments -> New payment). The other bank’s accounts will be available in “Pay from account” field (drop-down list) among Swedbank accounts. If you select to pay from the other bank’s account, you will be redirected to separate Payment Initiation form. Important! If you want to initiate payment from the other bank’s account, you must onboard it first in Swedbank Internet Bank!
  • What kind of payment can be initiated from other banks’ accounts in Swedbank Internet bank?
    Instant payments and domestic SEPA payments in euros can be initiated. This means that the payment recipient’s account must be in the same country as the payment account from which the payment is initiated.
  • Do I need to provide/submit a separate consent in order to use the payment initiation service?
    Customer consent is not needed for payment initiation; however, customer consent to view the other bank’s account information in Swedbank Internet Bank must be valid. The customer will be asked to confirm each payment with SCA (Strong Customer Authentication), which is accepted in the bank from whose account you want to initiate payment.
  • Where can I find information about payments that have been initiated in Swedbank Internet Bank?
    Previously initiated payments will be seen in Payments history (for Private Clients)/Payment Archive (for Corporate Clients).
  • Can I initiate multi-signed payment from the other bank’s account?
    For some time only single-signee payments can be initiated from the other bank’s accounts.
  • How will a payment initiated in Swedbank Internet Banking be authorised?
    Payment in all cases will be authorised on the account servicing bank’s side, with SCA provided and accepted by that bank. The information presented to the customer before payment authorisation will depend on the method of signing chosen by the customer.
  • What interfaces will be available for authorising a payment initiated in Swedbank internet bank?

    SEB: If a customer chooses to authorise the payment with Smart ID or Mobile ID, signing will be done in the Swedbank interface. If payment is authorised with a PIN generator or an ID card (EE), then the customer will be redirected to the other bank’s internet bank.

    LHV and CITADELE: Whatever signing method is chosen, the customer will always be redirected to the other bank’s internet bank.

  • How much does Payment Initiation cost?
    Payment initiation does not cost anything on Swedbank’s side, but payment order execution may incur a cost on the other bank’s side, depending on the pricelist applied to the customer there, including possible fees for exchange rates
  • How fast will a payment initiated in Swedbank internet bank be processed?

    It depends on the bank where the account payment is initiated and also the recipient’s bank:

    1. If both banks are connected to an instant payment schema, then the transfer will be processed as an instant payment.
    2. If an instant payment is not possible (amount limitation in the bank where the account payment is initiated, or unforeseen technical issues), then the payment will be processed as a regular interbank payment.
    3. If one of the banks is not connected to the instant payment schema, then payment will be processed as regular SEPA domestic payment.
    4. If the accounts of the payer and the recipient are in the same bank, then payment will be processed as an intrabank payment.
  • Where can I find the other bank’s account statement in Swedbank Internet Bank?
    This function is available under the Everyday banking menu (Everyday banking/Account info -> Account statement). Other bank’s accounts will be available in the “IBAN” field (drop-down list) among Swedbank accounts. Important! If you want to see an account statement from the other bank, you must onboard this bank first (Everyday banking/Account info -> Add other bank’s account)!
  • How can I cancel a payment initiated through a payment initiation service provider?
    In the "List of payments" section of the Internet Bank, you will find payment order submitted through the payment initiation service provider after the established banking hours or on bank holidays, if such order have not been sent from the bank. You have to submit the request for the cancellation of the payment to your chosen payment initiation service provider.

Internet Bank

Mobile app

  • How will my app update and when?

    Swedbank Lithuania users
    Your current Swedbank Lithuania app will update automatically if you have automatic updates set on. You can check this in your phone settings. Otherwise you’ll need to update the app manually by going to the App Store/Google Play, finding Swedbank Lithuania app and pressing the update button. The update will be launched in July/August. Bear in mind that the update is rolling out in portions thus it may take one month or a little bit more from the launch date before your current app will be updated. If you won’t receive an update in this term or have any other questions, do not hesitate to contact us.

    Swedbank 2019 users
    If you have Swedbank 2019 app only, you would need to switch to the new Swedbank app. From July 2nd, you should manually download and install the new app from Google Play/App Store. This is important if you want to keep enjoying Swedbank’s mobile banking, as the Swedbank 2019 app was only the trial version of the new app and it will be discontinued from July 31st.
    Note: if you downloaded the old version of the App from Google Play, please wait for its update in July / August.

    Not the Swedbank app users
    From July 2nd, you can download and install the brand new Swedbank Lithuania app from Google Play and App Store.
    Note: if you downloaded the old version of the App from Google Play, please wait for its update in July / August.

  • I cannot update Swedbank mobile app. What to do?

    The new app works on the devices that have:

    • iOS 12.0 and above;
    • Android 5.0 and above.

    The app doesn’t work with other operating systems (Windows, etc.).

    If your phone has a compatible operating system version, you should check on your device settings if you have enough storage space for the new app. It needs around up to 40 MB of free storage.

  • How can I login to Swedbank mobile app?
    To login into the new app for the first time you’ll need to use your Smart-ID, mobile-ID or PIN generator. Since the new app offers biometric login feature, later you will be able to use your fingerprint or face recognition option for regular logins to your app. You will also be able to login to the app using traditional authentication tools like Smart-ID, mobile-ID and a PIN generator.
  • I can’t find the functionality “Quick balance”. How can I quickly check my balance in the app?

    You will still be able to quickly check your balance. We have integrated the most popular and acknowledged options to do that: through a biometric login and an app widget.

    Using a fingerprint, you just have to put your finger on the fingerprint reader of your phone. While using the device with a face recognition option, you will not need to do any additional actions – your account balance will appear on your phone’s screen as soon as the app turns on. It’s not only easy and fast, but also safer as only the account owner will access his/her balance.

    Users, who don’t have a device with biometric sensors, will be able to use account balance widget. It allows to quickly check the balance even without the need to login into the app.

  • What is the app widget? How should I use it?
    Widget is available for iOS and Android. It is a convenient tool to quickly check your balance without even opening Swedbank app. To see your account balance, you just need to click the widget on the phone screen. With Android you can initiate mobile contactless payments as well by clicking on the widget.
  • I can’t find the functionality “Send money”. Can I make payments quickly in the new app?
    Yes, the new Swedbank mobile app will allow users to make up to 10 payments each of up to 100 EUR confirming the transactions with biometric authentication alone. It is a user-friendly and fast way to confirm the payment. Biometrics are also considered a safer authentication method thus the value of the maximum payment amount is higher – 100 EUR. If you do not use biometric authentication, you can quickly and easily execute orders using Smart-ID.
  • I can’t find the functionality “Receive money”. Is it in the new app?
    You will find this functionality in the section “Transfers”. Click on the icon with the phone picture.
  • How can I use biometric authentication with Swedbank mobile app?

    Biometrics is an authentication with Touch ID, Face ID, fingerprint, IRIS, etc.

    It is available for iOS and Android (from 6.0) users. Device has to have this functionality.

    You can use it for login and payments (up to 10 transfers up to 100 EUR) in Swedbank app.

  • What are the preconditions to use the mobile contactless payments (Android)?
    • Operating system of the device has to be Android version 6.0 (Marshmallow) or above.
    • The device must have an NFC antenna enabled.
    • The device will not work if user has rooted it.
    • Screen lock must be enabled.
    • The feature works with contactless MasterCard cards only.
  • Why is my mobile contactless payments functionality not working (Android)?

    There might be several reasons:

    • Screen lock was disabled or changed. Please login and follow app instructions.
    • Card contactless function got disabled. Please login and follow app instructions.
    • Your card was blocked via the app. Please login, unblock your card and digitize it back manually.
    • NFC function on your device is disabled. Please follow app instructions to enable NFC.
    • Another app was set as a default payment app. Please follow app instructions to set Swedbank mobile app as your default payment app.
    • If your card was blocked by the bank. Please order a new card and onboard it to Swedbank mobile app.
    • Device has failed security tests. See details in the app.
    • Card’s limit for purchases was set to 0 (or disabled). Please increase purchase limit.
    • Your phone has 2 SIM card slots. Possible solution: insert SIM card into another card slot.
    • You are using phone with iOS.
  • How can I use/access other functions that are in internet bank?
    We have made the connection between the app and the internet bank a breeze. You can access internet bank simply via the Services tab on the app. You will not need any additional login.
  • What should I do if I lose a device with Swedbank mobile app?
    If you lost your device, you should disable mobile services. You can do this in iBank or by reaching out to us by phone 1884. Please always use screen lock to protect your device.
  • How can I find out my user ID?
    • You can find your user ID in your Agreement on Electronic Services.
    • You may also come to the bank’s branch to find out your user ID.
  • Can I activate a payment card in the app?
    Yes, you should click the “Activate” button under the respective card that you want to activate in the “Cards” section of the app and you will be redirected to the IB card page where you will be able to activate the card.
  • How to start using the “Garmin Pay” or “Fitbit Pay” features?
    Detailed information on payment with a smartwatch is available here.

Debit Cards

  • In which cases can card internet purchases be declined?

    Since January 1, merchants are required to provide secure internet shopping. Otherwise, the transaction can be declined. The requirements apply to all European merchants and card issuers. The changes are aimed at making online shopping even more secure for customers - reducing the fraud risks, ensuring the confidentiality of the user data.

    Since some online stores may not be able to prepare properly, in order to avoid inconvenience for customers who pay with a card online, Lithuania has a transitional period of 3 months. This means that in January customer card transactions in online stores will not be rejected if they do not exceed 500 EUR, in February - 250 EUR, in March - 100 EUR. Exceeding these limits, and from April - regardless of the amount, online card purchase may fail if the online store is not ready to request payment with strong customer authentication.

  • What should I do if my purchase is declined?
    If a transaction has been declined because the merchant is not compliant with the PSD2 and other legal requirements, the bank can’t help the transaction to go through successfully in any way. In such a case, only the retailer itself can provide information to customers about other payment options if there are any. We urge to always make sure that the internet shop and the retailer are safe!
  • To which countries do the PSD2 requirements apply?
    The PSD2 legislation applies to all countries within the European Economic Area.
  • Will this requirement apply to online stores registered in the USA, China or UK?
    No, the PSD2 requirements are only binding for the merchants registered in the EU and EEA. However, bear in mind that many large stores and shopping platforms have subsidiaries registered in the EU.
  • How can I check weather a transaction will be successful in the particular internet shop?

    One of the options is to look for the Secure Shopping logotype on the merchant’s website.

    However, keep in mind that a transaction can also be successful in situations when merchant’s website doesn’t have such a logotype. You can also check if the merchant provides other payment methods. We urge to always make sure that the internet shop and the retailer are safe!

  • What exactly are those new requirements?
    The PSD2 directive expands the range of cases when internet (online) purchase must be strongly authenticated (using Smart-ID, biometrics, PIN generator, mobile-ID or ID-card) and at the same time sets exceptions when the strong authentication may be not applied.
  • Are these changes applicable only for private cards or corporate ones too?
    They are applicable for all cards, both private and corporate.
  • Validity of the card is expiring, what should be done in order to obtain a new card?
    As the validity period of the held debit card is coming to end, a renewed card is produced, provided that during the last 35 days at least one payment or cash deposit/withdrawal transaction was carried out in the ATM.
  • How to order a new card?
    You can order a new payment card in the Internet Bank, by entering “Cards” -> “Debit cards”, selecting the card and clicking to “Order” – you will be referred to the Internet Bank and will continue following the provided instructions.
  • What should I do if I want to have several cards linked to the same account?

    On request, additional cards may be issued to the same account enabling family members of other persons to use the funds held in the account.

    You can have only one active card of the same type linked to one account.

  • How can a minor order/receive a card?

    A card for a minor aged 6–13 may be ordered by one of the parents/guardians upon visiting the nearest bank’s branch. The card will be sent by post to your indicated address. The child’s card may be activated or the card terms and conditions may be changed by parents/guardians in their Internet Bank under “My cards” -> “Other person’s cards”.

    A minor aged 14–17 may order a card upon visiting the nearest bank’s branch together with one of the parents/guardians. If you have your parents’/guardians’ prior consent, you should bring your passport or personal ID card and your birth certificate or an extract from the birth certificate to the nearest bank’s branch. The card will be sent by post to your indicated address. The child may activate the card in his/her own Internet Bank (only with parents’ consent).

  • How long does it take to produce a new card and deliver it to the branch of the Bank?
    Normally, we produce a card and deliver to the Bank’s branch selected by you within 10 business days.
  • What should I do if my old card has expired and I have not received yet the card by post?
    If you have not received a card sent in Lithuania after expiry of your old card, inform us by the Internet Bank message (choosing “Report about not received card sent by post”) or by phone 1884. When a card is sent abroad, you can receive it later – this depends on the selected country.
  • When will I receive the renewed card?
    You will receive a renewed card at the beginning of the month of expiry of the old card, e.g. if the card expires on 31.07.2020, you will receive the renewed card in the first half of July.
  • I want to cancel the card renewal. What to do?
    If you do not want to renew the card, log in to the Internet Bank, go to “Cards” -> “My cards”, select the card, click “Card renewal”, select “No”, save the changes. The card will not be renewed if you notify on your decision no later than 2 months before the card expires.
  • Is it possible to order a card for another person to my account? How much does it cost?

    On the account holder’s request, additional cards may be issued linked to the same account enabling family members of other persons to use the funds held in the account.

    The card prices according to the types of cards are available here.

  • Can another person (not its user) receive my card at the Bank's Branch?
    No. The card can be issued only to the person whose forename and surname is written on the card. When an additional card (linked to another person’s account) is issued, both the holder of the account and the user of the additional card must arrive at the Bank’s branch.
  • When does my card expire?
    The expiration date (the month and the year) of the card is indicated on the card. E.g., 03/22 means that the card expires on 31 March 2022.
  • You ordered a card by mistake, but you don't need it?
    You can close the card at any time by calling +370 5 268 4444.
  • How to block a payment card?
    If you lost the card, block it immediately by connecting to your mobile app or Internet Bank calling the Bank at 1884 (calling from abroad: +370 5 268 4444) or visiting a branch of the Bank.
  • How to unblock a payment card?
    You can unblock the card by connecting to your mobile app or Internet Bank (if you have blocked the card yourself), by calling the Bank at 1884 (calling from abroad: +370 5 268 4444) or visiting a branch of the Bank (if you have blocked the card by phone or at the Bank’s branch). The card may be unblocked within 10 days after its blocking.
  • How to unblock a payment card which was blocked in a store?
    If you have blocked the card when paying for purchases (via an e-card reader), you can unblock the card in an ATM if you know you card’s PIN.
  • How to unblock a payment card which was blocked in an ATM?
    If you have blocked the card in an ATM you can unblock it by connecting to your mobile app or Internet Bank.

Credit Cards

  • What are the conditions for obtaining a credit card?
    A credit card of private persons may be obtained by an adult customer who has a bank account, has been working for at least 6 months in a well-established company, whose probation period has expired and whose monthly salary is at least 400 (after taxes). If a credit card is obtained together with a co-borrower for family needs, total income of the family (co-borrowers) after taxes must be not smaller than EUR 850. The possibility to grant a credit card is determined individually after filing by the customer of an application for issuing a credit card and after assessing the customer’s financial situation and the possibilities to grant the credit.
  • How to fill an application for obtaining a credit card?
    Applications for credit cards (likewise for other consumer loans) may be filed only between 07:00 and 22:00 (at night applications are not accepted).
  • How long does it take to examine the application and to obtain the card?
    After completing the application, depending on the data available about the customer, the taking of the decision can last from several minutes (for customers received a personally calculated offer) to 1-3 business days. The customer is informed by SMS, Internet Bank message or phone.
  • What interest is offered when acquiring a credit card?
    Interest of credit cards depends on the particular credit card type and individual customer’s assessment. Interest on Standard and Golden credit cards may be from 17%, Platinum cards – from 12%.
  • How is interest calculated on the used credit limit?
    Interest on used and outstanding credit is calculated every day. Interest accrued until the payment day during the month is debited from the servicing bank account. Interest calculated every day is rounded according to the arithmetic rounding rules.
  • When does the interest payment deferral period apply?
    Interest calculation on used credit funds is deferred when the customer pays for goods and services at POS or makes online purchases and enters the data of the card.
  • What fees are charged for payment with a credit card for purchases made in stores and online?
    Payment with a credit card, as well as with a debit card, for Customers is free of charge. It should be noted that when payment s made in the currency other than euro, the currency exchange fee of the fixed amount (2.45%) may be charged. The fee is not applicable for non-euro transactions with Gold and Platinum credit cards up to EUR 10.000 per month. Furthermore, after the credit deferral period the contractual interest rate is charged on used and not repaid funds of the credit.
  • How to change the day of payment of the credit card’s interest?
    The most convenient way to change the credit card’s interest payment day is to connect to the Internet Bank (in the Internet Bank section “My cards” –“Card agreement and changes”. Please note that the payment day cannot be changed at night time (from 22:00 until 07:00) and on the fixed date of payment.
  • When will my travel insurance be valid if I have a credit card and am going abroad?
    The insurance will be valid if during travel you have a valid Classic, Gold and Platinum card.
  • What should I do if I lose my credit card?
    If you lose the credit card, you should immediately contact the Bank and block the card. If you think that there is a possibility to find the card, you can temporarily block the card in your mobile app or in the Internet Bank – when the card blocked this way is not unblocked within 10 days, the card will be closed without the possibility of unblocking. If the card is lost or finally blocked, you should call the Bank during business hours or visit the nearest branch and order the replacement of the card.
  • Will my card be automatically extended? Where can I receive it?

    When the expiry date of the card approaches (around 70 days before its expiry date), each credit card holder is preliminary assessed in respect of extension of the credit cards: whether the credit card held meets the current conditions (has at least the minimum credit limit, whether a card of such type is still issued); how the customer fulfils the obligations and what is the customer’s financial situation. Customers who meet the criteria for responsible lending are informed that they have to submit an application for card renewal. They can do it in the Internet Bank section "My cards" - "Application for card renewal". We may need to ask for additional information and in some cases a spouse can be included for family solvency evaluation.

    The card reaches customers in the middle of the last month before current card expiry – the customers who have ordered to receive the card by post will simply have to activate the card in the Internet Bank. The old card’s PIN will be used for the renewed card.

    The customers are informed about non-extension of the credit card one month before the expiry date of the credit card.

  • Can I deposit/withdraw cash in an ATM with the credit card?
    You can deposit and withdraw cash in an ATMs with the credit card.We recommend the customers, if possible, to pay with a credit card, because in the case of payments with the credit card the interest deferral period and purchase insurance is applied to many purchases.
  • How to change the credit card’s limit?
    A credit card of private persons may be obtained by an adult customer who has a bank account, has been working for at least 6 months in a well-established company, whose probation period has expired and whose monthly salary is at least EUR 400 (after taxes). If a credit card is obtained together with a co-borrower for family needs, total income of the family (co-borrowers) after taxes must be not smaller than EUR 850. The possibility to grant a credit card is determined individually after filing by the customer of an application for issuing a credit card and after assessing the customer’s financial situation and the possibilities to grant the credit.
  • What safeguards are offered by the Bank to the customer who cannot cover the credit in due time?
    When acquiring the credit card the customers can separately obtain the insurance of credit card obligations which provides protection for the customers in the case of permanent illness or unemployment.
  • What should I do in order to reduce the credit instalment and extent the loan repayment term on expiry of the credit card agreement?
    In such case, you should file an application with the Bank on the refinancing of the used credit limit into another loan, e.g., a consumer loan.
  • What should I do in order to use make the travel insurance valid with the credit card?
    The insurance will be valid if during the travel you will have a valid Classic, Gold or Platinum card.
  • Where can I check the insurance covers provided to me?
    The terms and conditions of credit cards depend on the type of the available credit card – the Classic card is provided only with a basic travel insurance which includes only insurance of medical expenses, whereas the Platinum offers a widest insurance with the largest number of covers. You can check the terms and conditions of the credit card in Swedbank Internet Bank by selecting the card type description.
  • What family members travelling together also benefit from the insurance?
    The insurance of the card applies to the spouse or the person who lives together and maintains the common household, as well as children up to 18 years of age who travel together. In the case of the Gold and Platinum card the concept of insured persons is wider – the insurance cover applies to the spouse or the person who lives together and maintains the common household, as well as children and grandchildren up to 18 years of age, and if they are day time students – up to 21 years of age.
  • How long is the credit card’s travel insurance valid?
    The travel insurance is valid for 30 days of an uninterrupted trip for Classic cards and 90 days – for Golden and Platinum cards. The number of travels as well as toe total number of days of all trips is not limited.
  • How can I obtain an insurance policy?
    All customers who hold a credit card are covered by travel insurance, but the insurance policy is not issued – it is enough to have the card. If necessary, the customer may be print a confirmation of validity of the insurance terms and conditions in the internet bank section „My cards“ – such document might be required for customers who need a confirmation when applying for a visa of a foreign country (usually – Russian Federation).
  • When does purchase insurance apply?
    Insurance of purchases applies from the day on which the purchase is made and is valid for 180 days. The purchase must be made with a credit card or by payment order from the credit limit account.
  • How long is purchase insurance valid?
    Insurance of purchases is valid for 180 days.
  • Where can I check the insurance covers applicable to me?
    Insurance of purchases is offered with credit cards of all types, including the Fixed-payments credit card. You can check the terms and conditions of purchase insurance in the Internet Bank.
  • How can I obtain the insurance policy?
    The insurance policy is not issued for this service. Upon occurrence of the event, the form of the claim for damages should be submitted via the Internet Bank, and if there is no such a possibility – you should call the Bank by phone or visit its nearest branch.
  • What purchases are covered by purchase insurance?
    Insurance of purchases is valid for the majority of long-term end-use movable things acquired for personal or family needs, such as, for example: clothes, footwear, furniture, haberdashery, toys and household goods. More information about validity of the insurance cover is provided in the insurance terms and conditions published in the Internet Bank.

Loans

  • What are the conditions for obtaining a small loan?

    Prior to granting a small loan, we assess many criteria, but the most important of them are your or your family regular income, existing financial obligations and credit history.

    Income – not less than EUR 350/month for a small loan, EUR 400/months – for a small car loan, EUR 450/month – for a small home loan after taxes must be received by you regularly for at least 6 months in a row and your probation period must be expired. If you are taking a loan with a co-borrower, the total income after taxes should be not less than EUR 800/month.

    Financial obligations – your (your family’s) monthly expenses for covering of the existing financial obligations may not exceed 30 - 40% of your monthly income.

    Credit history – you must have no overdue credits to Swedbank and other creditors and no unpaid invoices for different services.

  • How to file a small loan application?
    You can file a small loan application by connecting to the Internet Bank or app. If you are a Swedbank customer, we recommend completing the application by connecting to your Internet Bank. In such case, we will be able to provide you with a more precise solution specially tailored for you.
  • What is the time limit for taking a decision to grant a small loan?
    The time limit for taking the decision can vary from several hours to several days (depending on the submitted information, required additional documents, etc.). When the decision is taken, you will be immediately notified by phone, SMS or Internet Bank message.
  • What interest rate is charged on the taken loan?
    The interest rate on the small loan is fixed and determined individually for each customer according to the selected small loan type, amount and credit history of the customer. When you complete the application, you will receive the full answer with the interest rate calculated personally for you.
  • What is the difference between the small loan, small home loan and small car loan?

    These loans differ not only according to their purpose, but also according to their terms and conditions: the size of the amount, maturity, price, additional requirements.

    A small loan is intended for realisation of your various plans: from the planned refurbishment of your home to covering of unexpected expenses (e.g., for car repair). The loan amount is EUR 500-20,000. Maturity: 6 months – 5 years. Detailed information is available here.

    A small home loan is intended for repair, reconstruction or essential renovation of your home, living environment or for purchase of immovable property (e.g., a garage, a storage, a garden plot, a country house, a flat, etc.). The loan amount is EUR 5,000-20,000. Maturity: 6 months – 10 years. Applicable interest rate is lower than in the case of a small loan (and is calculated individually for each customer). You or your co-borrower must be the owner of the immovable property being repaired and in the case of acquisition – you must register the acquired immovable property in your name with the Real Property Register of the Republic of Lithuania within 90 days after signing the agreement. Otherwise the interest rate discount will not be applied. Detailed information is available here.

    A small car loan is most suitable for purchase of a used car. The loan amount is EUR 3,000-20,000. Maturity: 6 months – 7 years. Applicable interest rate is lower than in the case of a small loan (and is calculated individually for each customer). You must register the purchased car with the SE Regitra within 30 days after signing the agreement. Otherwise the interest rate discount will not be applied. Detailed information is available here.

  • What is the difference between a small car loan and a car lease?

    The small car loan is most suitable for purchase of a used car (the loan amount is EUR 3,000-20,000; maturity: 6 months – 7 years; the down payment is not required; Casco insurance is recommended, but not mandatory; the funds are transferred to your account and you must register the purchased in your name).

    The car lease is used for purchase of a new or almost unused car (the loan amount is from EUR 7,000; maturity: 6 months – 7 years; the down payment in the amount of 10% or more of the car value is required; Casco insurance is mandatory during the entire agreement period; the car is registered in the name of the leasing company and this company pays the money directly to the seller of the car).

    Detailed comparison of these loans is available here.

  • What additional conditions are applied when taking a small home loan?

    In the case of a loan for repair or reconstruction you or your co-borrower must be the owner of the repaired immovable property.

    If you obtain a loan for purchase of immovable property, you must register the acquired immovable property in the name of the borrower (or co-borrower) with the Real Property Register of the Republic of Lithuania within 90 days after signing the agreement. Failing that, the Bank has the right not to apply the interest rate discount and to charge standard consumer credit interest, or you may repay the loan early without any additional charges.

  • Is there a possibility of early repayment of the loan? How to do that?
    Yes, you can repay all or part of the borrowed amount before the repayment term fixed in the agreement without any additional charges. You can do this yourself by connecting to the Internet Bank, selecting at the top of menu “Loans, leasing, credit cards” -> “Obligations” -> “My agreements”.
  • What to do if I can’t pay the loan repayment instalment in due time?
    In the event of change of the date of receiving the wage, benefits or other income, you can change the loan instalment repayment date free of charge on its payment day. Log-in to your Internet Bank and select “Loans, leasing, credit cards” -> “Obligations” -> “My agreements” at the top of the menu. More information about how to proceed in the cases of loan repayment difficulties is available here.
  • How to change the loan repayment and interest payment day?
    You can do this yourself by connecting to the Internet Bank and selecting “Loans, leasing, credit cards” -> “Obligations” -> “My agreements” at the top of menu.
  • How to change the account from which loan repayment instalments are debited?
    You can do this yourself by connecting to the Internet Bank and selecting “Loans, leasing, credit cards” -> “Obligations” -> “My agreements” at the top of menu.
  • Where can I review the loan repayment schedule?
    You can do this by connecting to the Internet Bank and selecting “Loans, leasing, credit cards” -> “Obligations” -> “My agreements” at the top of menu.
  • What happens if the wage is late for several days or a week? When the penalty is calculated for the customer for the overdue prepayment of the loan and payment of interest?
    If the date on which the wage, benefits or other income is received changes, you can change yourself the instalment repayment date free of charge. Log-in to your Internet Bank and select “Loans, leasing, credit cards” -> “Obligations” -> “My agreements” at the top of the menu. The penalty is calculated from the first overdue repayment date.
  • How can I have the loan instalment reduced and the loan maturity extended?
    You can write to us a message in the Internet Bank, call us at the short number 1884.
  • How to receive more information about home financing?
    For more information about home loans and their terms and conditions please visit the Bank’s website at www.swedbank.lt and selecting “Loans, leasing, credit cards” -> “Home loans” or call at the Bank’s phone number 1884.
  • What is the difference between home loans and a small loan?

    A home loan is intended for those who are planning to purchase, construct or reconstruct their home, to purchase a land plot and build a house on it.

    A home equity loan is intended for those who are planning to repair their home, a garden house, to construct or reconstruct farm buildings to purchase a land plot or a country house.

    In the case of granting both the home loan and the home equity loan their repayment is secured by mortgage.

    A small loan will suit you if you are planning to renovate your home, to repair your car, to purchase new furniture, domestic appliances or some other more extensive item and are going to borrow smaller amounts for a shorter period and without collateral.

  • What are the terms and conditions for obtaining a home loan?
    When assessing the customer’s possibilities to borrow the Bank considers the customer’s financial situation, its stability, prospects and devotes great attention to the assessment of the Customer’s obligations and their payment history both in the Bank and in other companies. The main requirement for the customer’s financial situation is to receive stable income the continuity of which does not give rise to any doubts. It is recommended that monthly payments of all financial obligations do not exceed 30% of income. In all cases, home loans can be granted only if their repayment is secured by mortgage and customers have accumulated a sufficient down payment accounting for 15% of the value or price of the dwelling mortgaged to the Bank, whichever of the two is smaller.
  • How to file a home loan application?
    Both, the principal borrower and the co-borrower can file an application for a home loan via the Internet Bank. Links to applications are available here.
  • What is the time limit for taking a decision to grant a home loan?
    In standard cases, the home loan granting decision is taken within 48 hours after submission of all documents to the Bank. The customer is informed about the taken decision in the manner convenient to him – by phone or e-mail.
  • Is it necessary to borrow with the spouse?
    When taking a home financing decision the solvency of the whole family is assessed and, accordingly, the spouse must become a co-borrower. An except is possible only when the customer has concluded a marriage agreement or a post-nuptial agreement which provides that the property acquired is a private property of the customer and the loan is the personal obligation of the customer.
  • What insurances are mandatory?

    When taking a home loan, the mortgaged property must be insured for the entire agreement term. The property insurance cover can be obtained either directly from our Bank under especially favourable conditions or from other insurance undertakings acceptable to the Bank, the list of which is available here: https://www.swedbank.lt/static/lt/files/draudimo_bendroves.pdf. You can also conclude a property insurance contract with another insurance undertaking, provided that the insurance cover offered by such insurance contract is equivalent to the insurance cover that would be offered under the property insurance contract of the insurance undertaking acceptable to the Bank. The Bank has the right, during the additional time limit set by the Bank about which you will be informed separately, to carry out an additional assessment of the submitted insurance contract of the insurance undertaking to determine whether the provided insurance cover meets the requirements.

    On your request, the property mortgaged to the Bank can be insured by our manager and you will not have to apply to an insurance undertaking. When obtaining the insurance cover from the Bank you will not have to spend your time for search of an insurance undertaking and will be sure that the mortgaged property is insured properly. We will insure your home under favourable conditions with the non-life insurance undertaking – Swedbank P&C Insurance AS Lithuanian Branch. In addition, on your request, we will insure your civil liability to a third party against damage related to defects of the mortgaged property or to its management and use. You will also have a possibility to choose home (movable property) insurance which will protect the objects in your home from unexpected events, such as robbery, fire, power voltage fluctuation, etc. Detailed terms and conditions of insurance are available here.

  • Is there a possibility of early repayment of a home loan?

    The early repayment of a home loan is possible even from your home by connecting to your Internet Bank, selecting “Loans, leasing, credit cards” -> “Home loans” and clicking to “Change” in the section “My agreements”.

    If at the moment of early repayment of the loan it is charged a variable interest rate which was fixed for the term not exceeding 12 months – the early loan repayment fee does not apply. In this case, the minimum amount of early repayment must be not smaller than EUR 300. If the amount obtained dividing the outstanding loan amount by the residual loan maturity (in months) is smaller than EUR 300, the part of the loan which the borrower can repay early is smaller than EUR 300.

    If at the moment of early repayment of the loan it is charged a fixed interest rate or a long-term variable fixed interest, the loan repayment fee, i.e. the compensation rate (C) is calculated according to the procedure specified in Annex 1.

    All fees applied by the Bank are available here.

  • How to change the home loan repayment day?
    You can change the home loan repayment day by connecting to the Internet Bank and selecting “Loans, leasing, credit cards”-> “Home loans” and clicking to “Change” in the section “My agreements”. The change of the repayment day is free of charge.
  • Where can I review the loan repayment schedule and the loan balance?
    The loan repayment schedule or the loan balance can be reviewed in the Internet Bank, selecting “Loans, leasing, credit cards”-> “Home loans” and clicking to “Review” in the section “My agreements”.
  • How to change the account from which the home loan repayment instalments are debited?
    The account from which the home loan repayment instalments are debited can be changed in the Internet Bank, selecting “Loans, leasing, credit cards”-> “Home loans” and clicking to “Change” in the section “My agreements”. The change of the account from which the home loan repayment instalments are debited is free of charge.
  • Where can I obtain a statement on home loan repayment instalments?
    You can send a request for issue of a statement on home loan repayment instalments by connecting to your Internet Bank and selecting from the tools bar at the top of the page the envelope icon -> “Order a certificate” -> “Certificate/approvalon home loans”. When ordering a certificate or an approvalit is necessary to choose or specify what information about the taken home loan should be indicated in the certificate or authorisation.
  • How to defer the repayment of the home loan instalments?
    A request for such changes can be sent by connecting to the Internet Bank, selecting “Loans, leasing, credit cards”-> “Home loans” and clicking to “Change” in the section “My agreements”. Or by calling at the Bank’s phone number 1884.
  • Can I change the loan guarantor/co-borrower/mortgaged property?
    A request for such changes can be sent by connecting to the Internet Bank, selecting “Loans, leasing, credit cards”-> “Home loans” and clicking to “Change” in the section “My agreements”. Or by calling at the Bank’s phone number 1884.
  • How can I have the loan repayment instalment reduced and the loan maturity extended?
    A request for such changes can be sent by connecting to the Internet Bank, selecting “Loans, leasing, credit cards”-> “Home loans” and clicking to “Change” in the section “My agreements”. Or by calling at the Bank’s phone number 1884.
  • What happens if the wage is late for several days or a week? When the penalty calculation for the customer begins?

    In the event of delayed payment day the customer pays to the Bank a penalty at the fixed rate from the overdue amount per each calendar day of the delayed repayment term. If the payment day is not a business day and the funds in the account are insufficient for making the payments, the penalty fixed in the credit agreement is calculated from the nearest business day flowing the payment day.

    In all instances, we recommend selecting the payment day convenient for the customer also taking account of the possible delay in the payment of wage. The customer can change the payment day in the Internet Bank free of charge.

    The information about how to proceed in the cases of loan repayment difficulties is available here.

  • Where should I apply if I want to sell the property mortgaged to the Bank?
    In order to sell the property mortgaged to the Bank the approval of the Bank is required. A request for the preparation of the Bank’s approval regarding the sale of the mortgaged property can be sent by connecting to the Internet Bank and selecting from the tools bar at the top of the page the envelope icon -> “Order a certificate” -> “Certificate/approval on home loans”. When ordering a certificate or an approval it is necessary to choose or specify what information about the taken home loan should be indicated in the certificate or approval.
  • How can I change the insurance of the mortgaged property?
    In order to change the terms and conditions of insurance of the mortgaged property call at 1884.
  • What is variable interest?

    The name 'variable interest rate' refers to the fact that it varies from time to time, going up or down, depending on the economic situation of a country or the situation on the financial markets. Variable interest rates vary according to the index to which they are linked. In Lithuania, for example, interest rates are linked to EURIBOR.

    In Lithuania, the variable interest rate is composed of the EURIBOR index and a margin, the latter being agreed between the client and the bank when concluding the mortgage contract. The size of the margin usually reflects the borrower’s risk – the higher the risk, the higher the margin. The margin remains unchanged throughout the life of the credit agreement in the absence of material breaches of the credit agreement.

    The other part of the variable interest rate, EURIBOR, is the interbank rate, which depends on the base rate set by the European Central Bank (ECB). If the ECB starts to increase interest rates, then EURIBOR increases and, consequently, the monthly mortgage interest paid by people who borrow at variable rates increases. If EURIBOR is negative, it is considered to be zero.

  • Why are my mortgage repayments changing/increasing?

    In cases where the interest rate of the mortgage contract is variable, the monthly repayments will also change depending on the change in the interest base (EURIBOR).

    The variable interest consists of the EURIBOR base plus a margin, the amount of which is agreed between the client and the bank at the time of concluding the mortgage contract. The margin remains unchanged throughout the life of the credit agreement in the absence of material breaches of the credit agreement.

    The EURIBOR interest rate is the European Interbank Offered Rate expressed as an annual interest rate and this interest rate changes every 3/6/12 months, so the total amount of interest you pay may decrease or increase depending on the change in the Interest Rate Base (new loans are only granted with a 6-month floating interest component).

    The volatility of this interest during certain periods may also increase the interest payments you pay to the bank each month due to the increase in the floating part.

  • How will the interest on my loan change in the future?

    The margin set by the bank remains unchanged throughout the life of the credit agreement, in the absence of material breaches of the credit agreement. However, the total interest on the loan may change depending on changes in the EURIBOR variable interest rate, which is not set by the Bank. This indicator is calculated by the European Banking Federation on the basis of interest rates published by its sample of the most active interbank market participants.

  • Where can I find information on the interest rates and repayments I am charged?

    Variable interest rates consist of EURIBOR and a margin. The amount of the margin and the total interest rate, including information on the next EURIBOR base change date and its volatility period, are set out in the mortgage loan agreement. The terms and conditions of the loan agreement and the payment schedule can be viewed by logging on to the Bank's website.

    In the event of additional changes in the EURIBOR interest rate, the Bank shall inform each client individually of the change in the interest rate, together with the instalment schedule for the next payment period. This information is provided by means of a message from the Internet Bank or by sending a letter by post.

  • Why and how do interest rates change?

    EURIBOR is the base rate set by the European Central Bank (ECB) and is the rate to which variable interest is linked. This means that when the ECB starts to raise interest rates, EURIBOR increases and, consequently, the monthly interest paid by those people who have borrowed at variable rates increase. Conversely, if the ECB lowers interest rates, interest rates fall. As a result of the ECB's negative interest rate policy, EURIBOR has been negative since 2014, so the residential part of EURIBOR has been set at zero.

    Only the EURIBOR component changes over the life of the loan agreement. This rate is usually recalculated every 3, 6 or 12 months. As often as EURIBOR is recalculated, the interest rate on the loan also changes. For example, if the loan is at 6-month EURIBOR, this means that the customer will be re-priced twice a year. Whatever the EURIBOR is on that day, it will remain the same for the next six months until the next recalculation.

  • The ECB has not yet raised base rates, but the EURIBOR base is already rising. Why?
    EURIBOR is not set in Lithuania. The EURIBOR base is set by the major commercial banks in the euro area and reflects the price at which the major banks borrow among themselves. A rising EURIBOR base means that the market is already reflecting the ECB's base rate hike expectations, which is why EURIBOR has come out of negative territory for the first time in seven years.
  • Where can I find information on historical EURIBOR rates?
    Information on historical Euribor rates can be found here: Euribor chart - graphs with historical Euribor rates (euribor-rates.eu)
  • What is fixed interest?

    In the past, the market practice was to refer to fixed interest as interest that changes less frequently than every 12 months. However, according to the "Law on Real Estate Credit", which came into force on 1 July 2017, we can only refer to fixed interest as interest that does not change for the entire duration of the loan, and it is practically non-existent in the loan market in our country.

    For customers who wish to have interest rates that fluctuate less than 12 months, banks usually offer interest rates fixed for a period of 5 years.

  • What can the bank offer if the customer wants fixed instalments?

    Understanding our customers' desire for fixed instalments, we offer our customers a fixed-premium annuity repayment method. The fixed instalment annuity method is a repayment method where the repayment schedule is based on the annuity method, but with a fixed instalment consisting of the amount of interest payable for the previous month and the loan amount.

    As interest rates change, the maturity of the loan agreement changes (lengthens/shortens), but not beyond the fixed maturity of the loan agreement, and the monthly payment to the bank remains fixed. The customer's fixed monthly payment can only increase when the interest rate increases and the loan agreement reaches the maximum term of the loan agreement and the fixed payment is insufficient to repay the loan and make interest payments. If the interest rate decreases, the customer's monthly instalment up to the amount of the fixed instalment will decrease accordingly.

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Life Insurance

Pension

  • How to conclude the agreement?

    You can conclude Swedbank pension agreement in the Internet Bank or arriving at any branch of the Bank.

    You can conclude the agreement in the Internet Bank at the time convenient for you in a few minutes. Log-in to your Internet Bank, select the menu item “Pension” -> “Swedbank pension” -> “Start saving”. In the window that opens, the pension fund corresponding to your birth year is marked, proceed by clicking on the button “Next”, get acquainted with the terms and conditions and confirm the conclusion of the agreement.

  • What are the life-cycle funds?
    The life-cycle pension funds (the term used in the Law on the Accumulation of Pensions is the “targeted group pension funds”) – means balanced funds intended for the participants born in the year indicated in the fund’s name. You will select the fund most suitable to you according to the date of birth and you will not have to take decision and switch to another pension fund during the entire agreement term. The life-cycle strategy based pension funds help balance investment risks better – taking account of your age the proportion of shares in the funds and the investment risks are gradually reduced.
  • What are the agreement handling fees?

    Administration fees applied in Life Cycle Pension Funds of Swedbank Pension:

    Pension fund Asset management fee1 Fee for change of the company2
    Pension 1996-2002 0,5% 0,05%
    Pension 1989-1995
    Pension 1982-1988
    Pension 1975-1981
    Pension 1968-1974
    Pension 1961-1967
    Pension 1954-1960
    Asset preservation fund 0.2%

    Change of the fund inside the company in all Swedbank Pension Funds is free of charge.

    1The annual fee is calculated per each business day from the average annual value of holding in the fund reducing the pension fund’s unit value. After 2021, this fee in life cycle pension funds will be up to 0.5%; when the pension fund assets reach EUR 2,5 billion – the fee will not exceed 0.4%.
    2Calculated from the value of savings which are transferred to another pension accumulation company.

  • How are the funds accumulated by me protected from devaluation?

    The pension funds’ manager Swedbank investicijų valdymas together with the company Swedbank Robur Fonder operating in Sweden have achieved good results. The investment of funds accumulated by you is in the hands of the professional investor.

    It is also important to accumulate in the fund according to your age throughout the entire accumulation period, which is ensured by the Life Cycle Pension Funds. In these funds, the investments are dynamically changed according to the age of the participants for whom the fund is intended. When the fund’s participants are younger, more investments are made in stock markets in order to generate higher return on investments. When the retirement age of the fund’s participants is approaching, the proportion of shares (and risk) in the fund is gradually reduced and the proportion of bonds and other safer investment instruments (deposits, cash) is increased in order to protect the accumulated funds.

    You just have to select the fund once according to your year of birth and accumulate in one fund throughout the entire accumulation period. This way you are protected from choosing too risky or too conservative accumulation.

  • Is it possible to draw on a part of the accumulated funds without terminating the agreement?
    No, you cannot terminate a 2nd Pillar Pension Agreement. It is also not possible to withdraw part of the accumulated funds without terminating the agreement. Participants the 2nd Pillar Pension Funds only become entitled to receive a pension benefit once they have reached the retirement pension age or once they have been awarded an early retirement pension in accordance with the Law on Social Insurance Pensions.
  • Is it possible to terminate the accumulation of pensions before reaching the pensionable age?

    No, early termination of the Pillar II pension agreement and withdrawal of the accumulated amount is not possible. The Pillar II pension funds’ participants become eligible to receive the pension benefit when the retirement age is reached or when an early social insurance retirement pension is granted according to the Law on Social Insurance Pensions.

    Exception: a participant has the right to terminate unilaterally the pension accumulation agreement concluded for the first time having notifies the pension accumulation company in writing within 30 days after the conclusion of the agreement.

  • Why has the amount accumulated in my pension account reduced?

    There may be several reasons for that – the unit value change is influenced by financial market fluctuations, regularly/not regularly transferred contributions, the selected fund in which you accumulate.

    Financial markets fluctuate continuously, with unit values rising and falling, affecting the amount accumulated. A lower unit price will result in more units being acquired from the amount transferred to your pension fund account. Fluctuations in the value of the units with 30, 25 or 20 years left on the agreement are even advantageous, as more units are acquired. In a periodic and long-term investment, such as 2nd pension funds, the fluctuations in the value of the units are smoothed out when the contributions to the 2nd pillar pension funds are made periodically, on a monthly basis, and the units are acquired at a price that is lower or higher.

    It is important to accumulate in the fund according to the year of birth, and taking on higher risks in a younger age is useful. The accumulated amount also depends on the regularity of transferred contributions. If you were temporarily unemployed, contributions were not transferred to your personal pension fund account and, therefore, the accumulated amount was not increased. When you are employed again, contributions will be automatically transferred to your personal pension fund account.

    The life-cycle strategy based pension funds help balance investment risk better – the proportion of shares in the funds and the investment risk is gradually reduced taking account of your age.

    The accumulated funds are invested, therefore, it is likely that you will receive investment return and your savings will be larger than contributions.

  • Are the amounts accumulated in the pension fund inherited?
    Yes, after the participant’s death the share of the pension fund’s assets owned by the participant is inherited in accordance with the procedure established by the Civil Code of the Republic of Lithuania.

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