Living in Lithuania

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Bank accounts

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From 1st of January 2015 national currency of Lithuania is EURO (€). Euro is currently used in majority of EU - Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. If you have some litas left, you will be able to exchange them to euros indefinitely at Lithuanian Bank (at a fixed rate of 1 euro to 3,4528 litas).

You can exchange foreign currency at banks, bureaux de change, airports, and railway stations. As in all European countries, cards such as Mastercard, Eurocard, Globus, Visa, Visa Electron, Maestro and  American Express are accepted in most shops and places where you can buy food and drinks. You can make cash withdrawals using a cash point; you’ll be able to find them in all major cities and towns. Also, many banks have cash points which allow cash withdrawals of foreign currency.

Some information about the banking system: eight commercial banks are licensed by the Bank of Lithuania. Twelve foreign banks and two agencies of foreign banks operate in the country and 225 banks of the European Union provide interstate services without having branches in Lithuania.

To open an account at one of the banks in Lithuania, you can apply to any bank (all banks have representatives who speak English) or ask for advice from the Department of International Relationships and Studies. 

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