You will find the List of Prohibited Jurisdictions and Class of Trade here
You can open a business account by completing the online application here. Simply follow the instructions on the screen. Regarding personal account, you will need to wait a little – in order to simplify Personal Account opening processes we are rebuilding the whole onboarding procedure thus witholding new applications for the time being.
You can find the detailed guidelines for Onboarding / KYC Process and required documents here.
It usually takes 2 business days for your application to be reviewed. The whole onboarding process usually takes up to 2-3 weeks, depending on the complexity of the structure, jurisdictions involved and business activity. Please note that close co-operation is required for smooth and effective onboarding.
ConnectPay evaluates each client applying for an IBAN account for business based on the following criteria:
• ID issue country for directors, UBOs, shareholders
• country of incorporation of the company
• country of incorporation of the companies forming the ownership structure (if any)
• country of location of headquarters
• nature/risk of business activity.
After the evaluation of the above-mentioned criteria, the client is assigned one of the four business categories. Only the pricing listed for that particular category will apply.
ConnectPay offers remote identity verification methods. We request to verify identities of Authorized Representatives and all Users of the accounts remotely. In some cases, we may also request to remotely verify identities of Directors and Ultimate Beneficial Owners.
Submitted corporate documents are verified remotely in jurisdictions where public access to the company registers are available. In case public access to the corporate register is not available in the jurisdiction, all Corporate documents from these jurisdictions must be originally certified by Apostille and uploaded in your Online Business Application form or sent directly to email@example.com.
More information on remode ID verification process and general requirements for corporate documents can be found here.
Note: ConnectPay may use a third-party provider/tool to verify your identity. The third-party operates under the same regulations of data confidentiality and security as ConnectPay.
There is an application processing fee that covers all costs incurred for opening your account with ConnectPay. This fee is determined by the pricing category you have been assigned to. You can review the application processing fees in the IBAN account for business price list.
You can find all the fees related to the Hercus card on our HERCUS Prepaid MasterCard Price list.
ConnectPay uses express shipping services for card delivery. It takes up to 7 business days for the order to reach the recipient.
The card can be ordered through our website, simply by clicking here and filling in the Card Ordering Form. Currently the card is offered to the existing ConnectPay clients only. Only the MAR of the company is eligible to initiate a card order.
To activate your Prepaid card, please call to one of our Customer Support specialists at +370 666 44600 I +356 279 22875 (Customer Support is available 24/7). When calling, please make sure you have your activation code with you that has been sent to mailbox.
When you activate your card, your PIN code will be sent to the mobile phone number that was provided in the card ordering form.
If you forgot your PIN code, please contact our Customer Support team directly by phone +370 666 44600 I +356 279 22875 (Customer Support is available 24/7). Your PIN code will be sent to you by SMS.
You have to login to your ‘Crunchaccount”. Your card balance will be visible on the first page of your dashboard.
You can make make a purchase wherever MasterCard is accepted. This card is also contactless so you can use it for small purchases up to 25 euros without using your PIN code. You can also withdraw cash from any ATM that accepts MasterCard.
You can load your card from your ConnectPay IBAN account for business to your ConnectPay card account by transfer. You can find all information in our Card Payment Guidelines.
You can block your card by logging in to your ‘crunchaccount’. Alternatively, you can call our Customer Support team at +370 666 44600 I +356 279 22875 (available 24/7). If you need to block your card after business hours and you can’t login to your account online, please call us at (00) 370 626 68977 (only for urgent requests after business hours).
If you decide to close your ConnectPay account, you need to inform our Customer Support team by sending an email to firstname.lastname@example.org or through the Online Banking message.
If you have a debt in your account, you need to make sure you cover it before we can close your account. If there are any funds left in your account, you need to transfer it to your chosen bank account before we close your ConnectPay account. Alternatively, we can make the transfer for you. In this case, you will have to cover administrative/transfer costs.
Once there are no pending operations in your ConnectPay account, it takes up to 3 business days to close it. We will inform you by email when all the procedures have been completed and your account is no longer valid.
Unlike traditional banks, ConnectPay does not invest your money. Therefore, your money is always instantly available. Regulation set by the Central Bank of Lithuania (government institution directly regulated by the European Central Bank) requires all funds deposited in ConnectPay accounts to be stored within segregated accounts in credit institutions and always to be kept readily available for client withdrawal.
As a result, your money is always safe with us.
Yes. ConnectPay is an Electronic Money Institution, company code 304696889, authorized and regulated by the Lithuanian supervisory authority – Central Bank of Lithuania. Central Bank of Lithuania is the part of the Eurosystem and cooperates with the European Central Bank and other Euro Area Central Banks.
Our activities include the issuing of electronic money, the redemption of electronic money, issuing and/or acquiring of payment instruments, execution of payment transactions. Our license and all activities covered by this license can be checked here. All our business activities are regulated by the applicable laws related to the electronic money, including, but not limited to the legal acts related to the financial institutions and financial services.
Yes, you can. Please contact us via online banking if you would like to change your registered e-mail or phone number. You can do that by logging in to your account and clicking on the message icon ✉ in the top right corner. Alternatively, you can call us at +370 666 44600 I +356 279 22875 (Customer Support is available 24/7) or email us at email@example.com.
You can add additional account users by logging in to your online banking account and navigating to user settings. Click on the User settings -> USERS -> Invite additional user. After reading the disclaimer and entering user’s email address, click INVITE. You will be asked to sign the action with OTP (one – time password) or through ConnectPay App.
You can exchange currency by logging in to your account and clicking on the PAYMENTS->Payments->Currency exchange option.
You will be able to see the currency exchange rates while you perform a currency exchange.
Currently the following currencies are supported:
EUR, CAD, CHF, GBP, JPY, PLN, RUB and USD.
In order to modify your limits you will need to login to your Online Banking account and drop us a message with required changes.
For additional information, please contact our Customer Support at +370 666 44600 I +356 279 22875 (Customer Support is available 24/7) or email us at firstname.lastname@example.org.
In order to receive funds to your ConnectPay account, you have to use your IBAN account number, SWIFT code, name and surname or company name.
Beneficiary name: < Insert name and surname or company name that holds the ConnectPay account >
Beneficiary account: < Insert your ConnectPay IBAN account number >
Financial institution name: UAB ConnectPay
Financial institution SWIFT/BIC code: CNUALT21XXX
Financial institution address: Algirdo str. 38, 03218, Vilnius, Lithuania
Yes, you can receive SEPA and SWIFT payments to your ConnectPay account. SEPA participant countries can be found here. SEPA is the fastest and cheapest way to send and receive funds, most SEPA transactions clear the same day. The fees for receiving SEPA transfers are provided in the IBAN account for business price list and the Personal IBAN account price list. More information about sending and receiving funds is provided in our Payment Guidelines.
SWIFT payments are available under certain conditions. Please contact us for more information.
Yes, SEPA and SWIFT transfers are available.
SEPA (Single European Payment Area) transfers are executed only in the EU and EEA countries, in EUR currency.
SWIFT transfers are executed in other currencies and/or in Euro currency to banks in countries outside the EEA or SEPA.
Note: Services are restricted and are not available to the following categories: adult content, carbon credits, cash, charities, counterfeit goods, defense/military, drug paraphernalia, explosives high value dealers, illegal goods, MSBs. PSPs, multi-level marketing (MLM), pawnbrokers, political groups, Ponzi/pyramid schemes, precious metals, prostitution, shell banks, speculative trading, weapons.
More information about sending and receiving funds is provided in our Payment Guidelines.
In order to send funds from your ConnectPay account, you must login to your online banking account, click on the Payments option in the main menu and select Payments from the dropdown menu.
Please send us an email email@example.com or call us at +370 666 44600 I +356 279 22875 (Customer Support is available 24/7) and we will help you recover your details after confirming your identity.
a) payment service users (payees and payers);
b) financial institutions (subject to Customer’s consent and in the scope of the personal data of the solely specified by Customer);
c) The Bank of the Republic of Lithuania and the SEPA participant (personal data for these beneficiaries is due to the use of the Single Euro Payments Area – SEPA).
Customers’ personal data may be transmitted to the third parties not specified above for the specified and legitimate purposes only, and only to third parties who have the right established by laws and other legal acts to receive personal data in the countries of the European Union and the European Economic Area.
ConnectPay is fully compliant with the General Data Protection Regulation, effective of 25 May 2018, with the Legal Protection of Personal Data of the Republic of Lithuania, with all of the other Laws and/or legal acts, as well as all of the European Union acts that are applicable in accordance with the personal data protection regulations applicable for the specific country in which the services are provided.
We do not use the private information you disclose to us by email contact form, phone communication, account application or any other channel that enables the collection of personal data to market our product unless you have expressed your consent.
All subsequent communication initiated by ConnectPay is mandatory to complete your request, in view of:
1. Provision of services of issuance, distribution and redemption of electronic money and provision of payment services;
2. Conclusion and execution of the agreements;
3. Customers’ identifications;
4. Implementation of the obligations under the Law on Money Laundering and Terrorist Financing Prevention.
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