Open an EU IBAN Account Online - What you get
Monvenience simplifies opening an EU online account for individuals and businesses who are not resident in the EU. Our partner EMI - regulated in Lithuania under Bank of Lithuania supervision - issues LT IBANs accepted across the EEA and compatible with SEPA and SWIFT transfers.
Who Benefits Most?
Our service is particularly suited to:
- Freelancers invoicing international clients in EUR or USD
- eCommerce exporters receiving marketplace payouts in EUR
- International contractors managing multi-currency receipts & payroll
- Non-resident entrepreneurs expanding into EU markets
LT IBAN vs. Local EU Bank vs. Multi-currency Fintech
| Feature | LT IBAN (Monvenience) | Local EU Bank | Multi-currency Fintech |
|---|---|---|---|
| Account opening | 100% online, 24–72 hrs | Often in-person or local ID | Online, onboarding varies |
| IBAN type | LT IBAN (EU-wide) | Country-specific IBAN | Virtual/shared IBAN |
| Residency | Non-resident friendly | Usually resident required | Varies by provider |
| Best for | Cross-border invoicing, SEPA & SWIFT | Local banking needs | Low-cost FX & card spending |
| Keyword target | LT IBAN account online | local eu bank account | multi-currency fintech account |
Typical Costs
| Service | Typical fee (EUR) |
|---|---|
| Monthly maintenance fee | 35 |
| Physical card (one-time) | 9 |
| Incoming SEPA | 0.1% max 100 |
| Outgoing SEPA | 0.1% max 100 |
| SWIFT incoming transfer | 0.2% min 10 |
| SWIFT outgoing transfer | 0.5% min 15 |
How it works - quick steps
- Apply online & upload documents.
- Partner EMI performs KYC/AML checks (typically 24–72 hours).
- Receive your LT IBAN, activate online banking and request card.
KYC & verification - expected timeline and delays
Typical turnaround: 24–72 hours after full documents submitted. Common causes of delay:
- Expired or unclear ID scans (please upload high-resolution passport photo).
- Proof of address older than 3 months or not matching name on ID.
- Incomplete corporate documents for business accounts or missing beneficial owner details.
- High-risk jurisdiction screening or complexity in transaction history may require additional review.
Tip: To avoid delays, ensure documents are in PDF/JPEG, clearly legible, and that company documents list all beneficial owners.
Security & Compliance
We work with licensed European EMIs supervised in Lithuania. Accounts are opened with partner institutions and are subject to EU AML/KYC requirements.
Frequently asked questions
Can I use my LT IBAN for business invoicing?
Yes - LT IBANs work for SEPA and SWIFT payments and are accepted by most EU vendors and marketplaces.
Do I need to visit the bank physically?
No - onboarding is always remote and no visits to the bank are required. Some exceptional cases may require additional verification steps, but those will be online as well.
Who cannot apply?
Clients from restricted jurisdictions (sanctioned/high-risk) cannot be onboarded. Check our restricted jurisdictions list.
Can I Open a European bank account as a non-resident?
Yes. Monvenience specializes in helping non-residents open fully functional EU accounts remotely. Residents can also open
What documents are required?
Usually a passport, national ID, and proof of address. Businesses may need incorporation documents.
What currencies can I hold?
You can hold over 20 currencies including EUR, USD, GBP, CHF, JPY, AUD, and more.
Where can I find the rates and charges?
All rates and charges have been provided transparently at EU Bank Account Rates and Charges.
Start application - Open Your EUR Bank Account
Last updated: 14th October, 2025
