Methods of Payment

Various payment methods are possible in Lithuania.  The most popular of those include wire transfers as pre-payment or after-payment, letters of credit, or payment by credit card.  Checks are not common as a payment method and are rarely accepted.  For more information about the methods of payment or other trade finance options, please read the Trade Finance Guide.   

Banking System

The Bank of Lithuania  acts as the central monetary authority in the country. It oversees financial institutions and banks in Lithuania, formulates and implements monetary policy, maintains price stability, and issues the national currency.  Currently, 85 credit institutions operate in Lithuania, comprising six banks in Lithuania, seven branches of foreign banks, and 71 credit unions. Top banks in Lithuania include: Swedbank, Luminor, SEB, Siauliu Bankas, Citadele Bankas, Medicinos Bankas.  Credit guarantees from U.S. EXIM Bank are available for projects in Lithuania.

For more information on the banking system please read the section Capital Markets and Portfolio Investment of the Investment Climate Statement.