SATCHEL

Opening an account in the Satchel payment system (Lithuania)

Cost for the private persons from 400

Cost for the legal entities from 600

Opening Term: 5 - 10 working days

Remotely: yes

Satchel (SatchelPay) is a modern fintech company that offers effective financial solutions for businesses and individuals. In 2018, the company received a license from the National Bank of Lithuania, which guarantees that its activities comply with EU security and financial regulation standards. It is important that all customer funds are kept in a separate account, which is protected by the National Bank of Lithuania using 3D-Secure and two-factor authentication (2FA). This ensures a high level of customer confidence.

Satchel payment system opens multi-currency accounts and provides an opportunity to make international transfers via SEPA and SWIFT at favorable rates. With Satchel, it is now possible to open a business account in the EU online.

For individuals, Satchel offers the opening of personal multi-currency SWIFT accounts that allow you to send and receive money in more than 20 currencies. It is important that to open an account with SatchelPay, an individual does not need to confirm his or her residence and address in the EU. Opening an account in the EU for a Ukrainian is now possible without traveling abroad.

An account in the Satchel payment system can be opened by:

  • small and medium-sized businesses
  • individuals freelancers
  • fintech companies 
  • startups 
  • merchant accounts for various types of e-commerce business.

Maira Consult will help you quickly open an account in the Satchel or other payment systems.

SATCHEL advantages

1

Keeping funds in the Central Bank of Lithuania

2

Accounts for freelancers and merchant accounts

3

Unique European IBAN

4

Multi-currency account

General Information

Types of accounts

Satchel Pay opens personal and corporate accounts, accounts for freelancers and merchant accounts.

Personal visit

Opening an account in the Satchel is a completely remote procedure.

Service rates

Openning an account: for individuals (EU residents) - free of charge; for individuals (non-EU residents) - 575 EUR; for freelancers (EU residents) - 50 EUR; for legal entities (EU residents) - 375 EUR; for legal entities (non-EU residents) - 1075 EUR. Opening a SEPA Instant account is free for all clients.

Useful information

Official website: www.satchel.eu

Stages of account opening

01

Preparation of documents

To open an account with Satchel, you need to fill out our questionnaire and describe in detail your activity or company's business, the purpose of opening an account, account turnover, partners for incoming and outgoing payments.

02

Analysis of documents

At this stage, our lawyers analyze the information and documents provided and fill out Satchel forms.

03

Submission of documents

We send the completed forms, corporate documents, director and beneficiary documents (for a legal entity) or documents of an individual (for a personal or freelancer account) to the payment system manager for review.

04

Passing verification

The individual pass online identification during an online video meeting with the Satchel manager.

05

Compliance Check

At this stage, the Satchel payment system verifies the client and may request additional documents and information about the activity and source of funds.

06

Account opening

After opening an account with Satchel, the manager sends the account details to the client.

Answers to the Most Common Questions:

Yes, opening an account in the Satchel payment system is an online procedure. To open EU business account the director and beneficiary of the company are identified during an online meeting with the manager.
The standard term for opening an account in the Satchel payment system is 5-10 business days from the date of submission of all documents and online identification of the client.
Yes, it is possible to open an account for a Ukrainian in the Lithuanian payment system without traveling abroad. The procedure for opening an account in Lithuania does not require proof of residence in Lithuania or other EU countries.

Our Contacts

Client Relations Department

+380 73 427-66-30

Address

Kyiv, 01054, Ukraine,

40B Ivan Franko St., office 207

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International Law Company Maira Consult