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Opening an account in LuxPay payment system (Lithuania)
- Price:500 EUR
- Term:about 5 days
Lux International Payment System (LuxPay) is a Lithuanian electronic money institution founded in 2019. Since February 2021, the company has been operating under EMI license No. 81 issued by the Bank of Lithuania.
Lux International Payment System provides clients with the opportunity to make electronic payments, store money in electronic wallets and manage their finances online. LuxPay targets both individual and corporate clients worldwide, providing them with various financial tools to manage their money digitally, making it an attractive choice for international transactions and businesses.
The payment system works in partnership with banks in Lithuania, such as European Merchant Bank and Mano Bank.
- Mastercard payment cards are available.
- LuxPay provides special IBANs based on the client's profile, including IBANs issued in the UK (GB).
- Accounts are opened in EUR, GBP and USD. AED currency will be available in the near future.
- Payment methods: SEPA, Target2, SWIFT, Faster Payment, Fedwire, ACH.
- Local and international payments are possible in Euros, Pounds Sterling and US Dollars.
- Only outgoing payments are available in US dollars (incoming payments will be enabled soon).
- Open accounts for cryptocurrency companies and high-risk activities.
- Client funds are held with the Central Bank and major EU banks in separate accounts, separate from LuxPay funds, and cannot be used for commercial purposes or lending.
LuxPay accepts clients from almost all over the world except for sanctioned jurisdictions. They consider activities of different risk levels, including Crypto, PSP, EMI, Trust's.
Open personal and corporate accounts. It is planned to launch acquiring services.
All procedures for opening an account with LuxPay and verifying your identity take place online.
To apply for a business account with Lux International Payment System, the CEO or other signatory of the company must pass a KYC (know your customer) check and first open a personal account.
Please note that according to international standards for opening accounts, each payment system is required to adhere to the KYC procedure and, therefore, will require documents and data confirming identity, business and wealth for identification. Also, a financial institution may, based on its internal rules, refuse cooperation without giving reasons.
To avoid such negative consequences, contact specialized lawyers for preliminary consultation on opening foreign accounts, and we will tell you all the nuances of how to open an account in the LuxPay payment system.