Paysera
Lithuanian payment institution — fast, cheap, reliable backup
Paysera Business
Free business account with Lithuanian IB...
Free
Paysera is a Lithuanian payment institution regulated by the Bank of Lithuania since 2004. It offers business accounts with a Lithuanian IBAN, low SEPA fees (€0.15 per transfer), and fast account opening (1 day). Paysera lacks the multi-currency depth of Wise and has no integration with e-Residency service providers — but it works well as a backup account for when your primary provider has compliance delays.
I've used Paysera as a backup account since 2017. The opening was fast — approved in one day, much quicker than Wise at the time. Low SEPA fees (€0.15) and a clean interface. I recommend it as a safety net: if Wise ever freezes your account for a compliance review (rare but it happens), you need a second channel to receive payments. Paysera fills that role perfectly. I wouldn't use it as a primary account — the lack of Xolo integration means manual bookkeeping for every transaction.
— Sebastian Kühn, e-Resident since 2015
Pros & Cons
Pros
- Fastest account opening — approved within 1 day
- No monthly fees
- Very low SEPA fees (€0.15 per transfer)
- Lithuanian IBAN (LT prefix) — works across SEPA
- Regulated since 2004 — long track record
Cons
- No integration with Xolo, Companio, or other service providers
- Limited multi-currency functionality compared to Wise
- Less known internationally — some clients may question it
- No local receiving details for USD/GBP (unlike Wise)
- Manual bookkeeping required — no auto-sync with accounting tools