Send Money To Lithuania

Currency Symbol and Swift Codes

What currency is used in Lithuania? The Lithuanian litas (LTL) served as the currency of Lithuania until January 2015, when it was replaced by the euro (EUR). While the transition from the litas to the euro was due to take place in January 2007, the process was delayed because of the economic crisis coupled with high inflation.

When sending money to a Lithuanian bank account, you will need o the bank’s SWIFT code. Here are SWIFT codes of some popular bank in Lithuania.

Case Study

Arnas had been out of work for around six months and was having trouble keeping up with his finances. As a result, he decided to ask his brother Lukas, who lived in the UK, for some monetary help. Lukas was more than willing to send him some money and they figured that around £3,000 would do the trick.

While Lukas could use the services of various banks in the UK, he decided to compare them with some specialist money transfer companies. The corresponding table shows you how the best from both realms fared against each other.

By selecting the money transfer company over the bank, Lukas ensured that Arnas received a little extra money. Besides, the money got to Arnas sooner that it would have had Lukas used the bank.

Cash Pickup Locations in Lithuania

If you want to send money to Lithuania in a hurry you may consider transferring it to a cash pickup center. Some of the poplar companies that have agent networks in Lithuania include MoneyGram, Western Union, and Ria.

Safety Tips for Picking Up Cash in Lithuania

While crime levels in Lithuania are typically low, there have been instances of violent crimes such as muggings. Petty crimes such as bag snatching and pickpocketing tend to take place in crowded bars and restaurants as well as on public transportation. Remain vigilant around the Vilnius train station and when using public transportation, especially if approached by a group of strangers seeking help.

Foreigners may be targeted in thinly populated areas after dark. Do not leave your handbags or coats unattended in clubs, pubs, and bars. Do not leave your food or drink unattended, and do not accept food or drinks from strangers. Do not leave your belongings in parked vehicles, and park your vehicle in secure areas when possible.

What Information Do I Need to Transfer Money to Lithuania?

The information you need to send money to Lithuania depends on the transfer method you select.

• Transfer to bank account. You will need the recipient’s complete name and bank account number as well as the receiving bank’s name and SWIFT code.
• Transfer to cash pickup center. The information you need includes the recipient’s complete name and the location of a suitable cash pickup center. To collect the transferred money, the recipient will need to present an acceptable for of photo ID along with a transaction or reference

Regulations When Transferring Money To and From Lithuania

As part of the European Union, Lithuania does not have its own currency regulations. The Bank of Lithuania is responsible for overseeing the country’s payment systems and the country follows the single monetary policy set by the European Central Bank (ECB). There are no restrictions on moving money in and out of Lithuania. However, any transfer over €10,000 is declared to the relevant European Union authorities.