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Opening an account in Wittix payment system (Lithuania)
- Price:500 EUR
- Term:10-15 days
Wittix, UAB is a payment system authorized by the Bank of Lithuania as an electronic money institution. The company's main purpose is to issue, distribute, and redeem electronic money, as well as perform various operations in the field of payments and finance. Focused on both individuals and diversified businesses, including high-risk activities.
The company received permission to operate in 2019. Wittix is a member of the international payment network SWIFT and SEPA, including SCT (SEPA Credit Transfer) and SCT Inst (SEPA Instant Credit Transfer).
- Virtual and plastic Visa cards (only in euros).
- LT IBAN accounts are opened in euros but support 23 currencies, including the pound and the dollar.
- Payment methods for transfers: SEPA and SWIFT, without transaction limits.
- Transfers with sanctioned countries and Ukraine are not available.
- Tariffs for clients depend on the risk group and country of residence.
- For some transactions, Wittix bank details may be used.
- Client funds are kept in the Central Bank of Lithuania.
- You can configure different account access roles.
- You can withdraw money from PayPal and Stripe to your account.
- Open accounts for Ukrainian residents.
Wittix works with different countries and completely different businesses, accepts high-risk clients.
They open accounts for many company structures, including partnerships, corporations, freelancers. They do not serve foundations, trusts, charities, associations.
Wittix does not work with countries included in the list of prohibited jurisdictions (over 100 countries). In addition to sanctioned countries, this includes, among others, classic offshores (Bahamas, Belize, Caymans, Comoros, Seychelles, Panama), UAE, Georgia, Montenegro, Turkey, Moldova and others (Ukraine is not on the list).
Business and personal accounts are for settlement/transaction purposes only.
Opening an account in the payment system takes place remotely through account creation. It is important that before opening you need to confirm your residential address and undergo photo identification.
Please note that according to international standards for opening accounts, each payment system must 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.
In order 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 Wittix payment system.