Lithuania
Profile
ING Payments and Cash Management provides a full range of services and a single point of contact for 27 European countries. We have an intimate knowledge of local business and clearing practices. Our traditionally strong services in Western, Central and Eastern Europe have been strengthened thanks to the ability of our alliance partner SEB Group (SEB) to deliver in the Nordic Countries and the Baltic region. With this we have the largest integrated network in Europe.
General Information
SEB Vilniaus Bankas provides the following financial services: account opening, reporting and payments & cash management.
| Currency | Lithuanian litas/LTL |
| Time zone | Greenwich Mean Time + 2 hours, Eastern Standard Time + 7 hours |
| Language | Lithuanian; English is widely spoken. |
Means of payment
Unlike other EU countries, paper-based credit transfers are the most popular method of making payments in terms of value. Over recent years, there has been a significant growth in the use of electronic credit transfers, both in terms of value and volume. Debit cards are commonly used for retail payments.
Payments and Cash Management Services
| ACCOUNT OPENING | |
|---|---|
| Non-resident account | • |
| Resident account | • |
| PAYMENTS & CASH MANAGEMENT | |
| Cross-border transfers | • |
| Domestic transfers | • |
| Electronic Banking | • |
| Local Cash Pooling* | • |
| Repatriation of funds | • |
| REPORTING | |
| Electronic end of day reporting | • |
Profile SEB Group
The SEB Group is a leading Northern European financial services provider with offices in some 20 countries. SEB Merchant Banking supplies financial solutions to large companies and financial institutions and is the major clearer of euro transactions in the Nordic region.