Hotline dhujhd Customer Services: +370 5240 5555
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Personal Account FAQs

1. How can I open a personal current account online?

You can easily open a personal current account with DSBC in a matter of seconds and at no additional cost by filling out our application form on our website. This can be found either on the personal account features tab or on the top right corner of our website. We will then contact you to complete the identification process and you will be able to use all of DSBC Financial Europe's benefits right after the 1st deposit of €500 is made.

After the process of opening an account is done, you would gain many benefits of being a DSBC’s customer including secure online banking, ability to transfer money internationally as well as exchange currency at a favourable rate. 

In addition, we also provide corporate accounts for our business customers including current account, merchant account and payment gateway functions with many more benefits for businesses with a very straight forward process as well. Please visit our website for the more information about the latest promotions and other accounts’ benefits 

If you ever encounter any difficulties during the account opening process, please contact us via email: [email protected] or our hotline at: +370 5 240 5555.

2. What Is SWIFT?

SWIFT - Society for Worldwide Interbank Financial Telecommunication.

Transaction orders are transmitted between members of this network.

Each member is identified with a unique SWIFT/ BIC code.

To this day, SWIFT is the biggest and most efficient tool for international money transfer, with over 11.000 member institutions in over 200 countries, sending over 5 billions financial messages globally every year.

3. What Does SWIFT Code Represent?

SWIFT works by assigning each member institution a unique ID code that identifies the bank name, country, city, and branch.

For example DSBC Financial Europe BIC code is: DSFE LT 21 XXX

  • The first 4 characters represent our institution (DSFE - DSBC Financial Europe).
  • The 2 following characters represent the country we are based in (LT - Lithuania).
  • The other 2 following characters might be used to represent the location/city or a combination of numbers based on the organization's liking.
  • There might be an additional 3 characters, which are the institution’s branches.
4. How old must I be to open an International Account with DSBC Financial Europe?

You can become a DSBC Financial Europe's client and gain full benefits from our personal accounts at the age of 16. If you are younger than 16, you would need a legal representative to open the account in their name and take responsibility for you when using our services. 

To open account with us, you would need to finish the identification procedure for the registering process, you would need to provide us with an international personal documentation, ie. a passport or ID card. 

After you finish the registering process with us, you will receive an online banking (DSBCnet) account and you can start using our services from that moment onward. For ease of use in everyday activity, you can order a debit/prepaid card from DSBC which would be sent to you via postal services as quickly as 2 working days.

However after that process, there would be no more paperwork to fill and you can enjoy many benefits like managing your account anywhere, a multi-currency account if you travel a lot and no limits in transferring transactions around the globe (We may need you to prove your identification if you want to transfer a large sum of money). You would essentially receive an international account when you open an account with us.

5. What Are The Differences Between SWIFT And SEPA?

 

Difference between SEPA and SWIFT:

 

Network 28 + 3 EU/EEA countries. 118 countries and territories.
Currency EURO. Multiple currencies.
Transaction time 01-02 business days. 02-05 business days.
Or more depending on the relationship between the two payment institutions.
Transaction limit

10,000 EUR/day for personal account.

50,000 EUR/day for corporate account.

Note:
This is the default limit when establishing your account.
The limit can be increased upto 200,000 EUR for personal account and 500,000 EUR for corporate account..
Contact + 370 5 240 5555 for transaction limit update.
Transfer fees Cheaper for transfer within the EU/EEA region. Depends on the fees of the correspondent banks involved.
6. Can I Send And Receive Transfer In Other Currencies?

At this time, with DSBC SWIFT transfer, you can send money from your Euro account to other accounts in any other currencies.

However, when you receive payments in other currencies, the fund will be automatically converted to Euro in your DSBC Financial Europe current account.

7. How can my DSBC Financial Europe account be credited or debited?

You can send and receive international funding via SWIFT and SEPA transfer.

SEPA transfer is used when transaction is made between countries in the EU/EEA.

SWIFT transfer can be used for transaction between 118 countries and territories around the world, including European countries.

At DSBC, we understand the urgency when you need cash from your account, that's why we provide debit/prepaid cards for easier withdrawal of money, you can do this at any ATMs or cash point approved by Mastercard.

See more: DSBC table of fees for SWIFT and SEPA

8. Are There Any Place Limited From Receiving Or Transferring Fund Using DSBC SWIFT Transfer?

DSBC Financial Europe support SWIFT transfer in 118 countries and territories, excluding the following countries/ territories:

Nigeria, Pakistan, Syria, Yemen, Seychelles, Cayman and .

  • 1. Akrotiri
  • 2. Ashmore and Cartier Islands
  • 3. American Samoa, territory of
  • 4. Ashmore and Cartier Islands
  • 5. Baker Island
  • 6. Bouvet Island
  • 7. Bahamas
  • 8. Barbados
  • 9. Botswana
  • 10. Bouvet Islands
  • 11. British Indian Ocean Territory
  • 12. Burkina Faso
  • 13. Burundi
  • 14. Cambodia
  • 15. Cayman Islands
  • 16. Christmas Island
  • 17. Clipperton Island
  • 18. Cocos (Keeling) Islands
  • 19. Coral Sea Islands
  • 20. Cuba
  • 21. Crimea
  • 22. Dhekelia
  • 23. Djibouti
  • 24. French Southern and Antarctic Lands
  • 25. Fiji
  • 26. Gabon
  • 27. Ghana
  • 28. Gambia, The
  • 29. Guam
  • 30. Guinea
  • 31. Guinea-Bissau
  • 32. Guyana
  • 33. Haiti
  • 34. Heard Island and McDonald Islands
  • 35. Howland Island
  • 36. Jamaica
  • 37. Iran
  • 38. Iraq
  • 39. Jan Mayen
  • 40. Jarvis Island
  • 41. Johnston Atoll
  • 42. Kingman Reef
  • 43. Midway Islands
  • 44. Myanmar
  • 45. Nicaragua
  • 46. Nigeria
  • 47. Navassa Island
  • 48. Norfolk Island
  • 49. North Korea
  • 50. Oman
  • 51. Pakistan
  • 52. "Palestinian Territories"
  • 53. Palmyra Atoll
  • 54. Palau
  • 55. Panama
  • 56. Paracel Islands
  • 57. Pitcairn Islands
  • 58. Samoa
  • 59. Seychelles
  • 60. South Georgia and the South Sandwich Islands
  • 61. Somalia
  • 62. South Sudan
  • 63. Sierra Leone
  • 64. Spratly Islands
  • 65. Sudan
  • 66. Svalbard
  • 67. Uganda
  • 68. Syria
  • 69. US Virgin Islands
  • 70. Afghanistan
  • 71. Trinidad & Tobago
  • 72. Vanuatu
  • 73. Venezuela
  • 74. Wake Island
  • 75. Wallis and Futuna
  • 76. Yemen
  • 77. Zimbabwe
9. How can I transfer money from current account to other banks or other payment systems?

Yes, we provide many current account services including transfer funds to other accounts within or outside the DSBC system. This process will take up different amounts of time depending on the urgency of the transfer, which can reach as quickly as arriving at the same day.

Transfers from a DSBC Financial Europe account to other banks are performed just like at a traditional bank with one distinction, you will go through the whole process online, at your own pace and there is no angry line behind you. You can find this function on our online banking site (DSBCnet) or our mobile apps. 

You would need  the recipient data including the account number and purpose of payment/reference. In the case of transferring money from DSBC Financial Europe to other payment systems, you will have to indicate the client number in the system or other data depending on the payment system. 

However, there are advantages when it comes to using the DSBC network of transfer, we would not limit the amount you transfer or take into account any geographical barrier when transferring and you will benefit from the highest level of protection when transferring online. Users also have 24/7 access to DSBC Financial Europe’s e-payments system to perform and keep track of all transactions.

10. What are all the fees and charges associated with personal current account / checking account?

There is no extra fee associated with your personal current account/ checking account during the time of usage but you would need to have a minimum amount of €240 kept in your account for an ongoing basis for payment of maintenance fees in 1 year. This amount will cover all your services, including a technical hotline if you even encounter any problems. You can use the debit/prepaid card provided at any shop or any foreign shop you like because there would be no geographical limit for our services.

If you transfer money to another account within our DSBC Financial Europe network, there would be no extra fee occurred but if you want to wire transfer to a bank account outside the network, we will charge you according to the speed of your transfer. You can check the full fees in the link below.

However, we will never charge you for checking your account online, so please check your account frequently and let us know any suspicious fees occurred because we will never charge you any hidden fees you wouldn’t know of. 

You can check the full details of all your fees and charges updated on our website.

See more: Personal Account Opening Fees 

11. Can I Send Money Between EU/EEA Countries Using SWIFT?

Here at DSBC, we believe that every transaction made using our services should be carried out with the best possible price we can provide.

At www.dsbcnet.com or our mobile banking applications, you can find both SWIFT and SEPA services. When you fill in the information at any of the 2 pages, we will automatically identify whether your transaction should be made with SWIFT or SEPA and direct you to the suitable page to give you the best option regarding time and fee.

So in regard to the question, no, DSBC Financial Europe simply does not allow our customers to be charged anything more for whatever you intended to do.

12. Are my funds secured in my multi currency current account?

The short answer is very secure, DSBC Financial Europe ("DSBC") is protected by many layers of encryption and a 24/7 fraud monitoring system, every time you sign in on our DSBCnet, you would need a two-factor authentication code along with your password to ensure only the owner has access to the account.

However, if by secure you mean if DSBC would prevent your funds from being used for other purposes then the answer is also a big yes. DSBC is complied with the Law on Payment in both the EU and the US region, which specifically stated:

  • The clients' funds are held only on special bank accounts exclusively for one purpose only, to keep funds of the clients;
  • Clients' funds are NOT to be used for the needs of the company, loans or investments;
  • Clients' funds cannot be subjected to recovery of debts of the payment institution.

Furthermore, we are a payment institution, licensed by the central bank of Lithuania, which does not allow us to loan money to customers so your funds will stay with us safely waiting for you to use them. 

13. What are the criteria when applying for a personal account and to join DSBC Financial Europe ("DSBC") Debit/ Prepaid Mastercard program?

There are overall 3 conditions that are required from a Personal card holder when joining the DSBC Debit/Prepaid Mastercards program. To some, three conditions may be too many but please continue reading as our 3 conditions are very straightforward to fulfill.

  1. Card holder must be at least 16 years of age.
  2. Card holder has to be resident in EU/EEA.
  3. Card holder is not belong to/related to the Rejected list Jurisdiction/Nationality with DSBC Financial Europe

EU list of non-cooperative jurisdictions

No Jurisdiction name
1 American Samoa
2 Fiji
3 Guam
4 Oman
5 Samoa
6 Trinidad and Tobago
7 US Virgin Islands
8 Vanuatu

Card Issuer rejected list - Nationality

No Jurisdiction name
1 Afghanistan
2 Angola
3 Burundi
4 Central African Republic
5 Congo
6 Cote D'Ivoire
7 Crimea
8 Cuba
9 Eritrea
10 Gaza Strip
11 Guinea Bissau
12 Iran
13 Islamic Republic of Iraq
14 Lebanon
15 Liberia
16 Libya
17 Mali
18 Myanmar
19 North Korea
20 Sierra Leone
21 Somalia
22 South Sudan
23 Sudan
24 Syria
25 Venezuela
26 West Bank (Palestinian Territory, Occupied)
27 Yemen
28 Zimbabwe
14. What Are DSBC Financial Europe Fees For International Transfer?

Please access DSBC Financial Europe's Table Of Fees For Personal and Corporate Account for more information.

15. Can I apply for the ELITE Package as I have already had a personal current account?

Unfortunately, the ELITE Package is only available for new clients - who have not owned any account or have stopped their previous account at least 6 months before applying for ELITE Package. If you are an existing member, you are advised to apply for our Classic package. Learn more.

16. How Will My SWIFT Payment Be Carried Out?

DSBC Financial Europe has registered and connected with the SWIFT network and are currently working with several correspondent banks to support you in transferring funds abroad.

The transaction time and fees will be heavily influenced by the relationship between our correspondent banks and your beneficiary’s financial institution.

Normally, it would take 02-05 working days for the transfer of funds to be carried out.

In the near future, DSBC Financial Europe will be expanding our connection with correspondent banks around the world to support more currencies, lower transaction costs and reduce wait time.

Please note that in order to transfer funds, DSBC Financial Europe depends on our correspondent banks in some stages of transaction.

Should any delays occur, DSBC Financial Europe and our correspondent banks will work together to help you in transferring or receiving funds on time.

17. If I was an existing corporate client, can I join this ELITE Package?

Sure you can! Assuming that you currently own a Corporate Account but no Personal Account yet, you can apply for ELITE Package.

18. How Long Will It Take For My Fund To Arrive?

Normally, it would take 01-02 working days for SEPA transfer, and 02-05 working days for SWIFT.

You also have an option to transfer via SEPA Express, which can arrive on the same day your transaction is made, or on the following business day.

For more information about the services that we offer: Table Of Fees

19. Is the ELITE Package available for Digital Card?

Of course, we at “DSBC Financial Europe” UAB understand all customer uniqueness, we will make sure ELITE Package is available for both Digital and Physical Card. Now you can relax and choose a suitable card for your personal needs.

20. How long does an ELITE Package last after applying?

The usage of ELITE Package shall follow the validation date of your Digital and/or Physical Card. (Eg: If your card expires in 1 year, then the duration of your ELITE Package will remain accordingly). Therefore, the ELITE Package will be automatically extended if you renew your Payment Card usage after its duration.

21. Is there any time limitation for the ELITE Package application?

Currently, we have no deadlines for ELITE Package application. Our dear clients, please take your time to apply for your Personal Account and Payment Card.

22. Is it possible to apply for the ELITE Package if I used to be a client of DSBC Financial Europe?

You are considered as a new client if your last account was closed at least 6 months before applying for an ELITE Package.

23. How can I apply for this package?

You can visit Open an Account and following the below steps:

  • Step 1: Choose Personal Account; tick on “Apply ELITE Package”
  • Step 2: Give your Personal Information
  • Step 3: We will send you a confirmation and you can make your first funding right away.
24. Can the ELITE Package be applied to Corporation Accounts as well?

The ELITE Package is only available for clients who want to open a Personal Account along with a Payment Card only. At the present, we at DSBC have not yet owned any promotion program for Corporation Account. However, we will try our best to give our dear customers many more valuable deals in the future, so stay tuned!

25. Are my accounts with DSBC Financial Europe UAB guaranteed or insured?

No. Insurance or guarantee is not required for DSBC Financial Europe - a Payment Institution under Lithuania legislations.

See more at: https://www.dsbcf.com/faq/how-about-the-security-of-money-on-accounts

About Us

We are always proud of being an experienced Financial Institution in the global financial payment market.

We provide the best payment platform as well as worldwide money remittance service. "DSBC Financial Europe" UAB can assist you with different payment methods, whether it is a personal account or a business account.

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