Lithuania

Lithuania is in the euro area and uses the euro (EUR). Alongside traditional banks and credit unions, its financial services market includes payment institutions and electronic-money institutions. These firms may offer convenient accounts and transfers, but they are not interchangeable with deposit-taking banks. The precise licence determines which activities an institution may provide.

The Bank of Lithuania oversees a wide range of financial market participants, including banks, credit unions, insurers and payment firms, in cooperation with European supervisory structures where applicable. The public institution Deposit and Investment Insurance manages separate arrangements for eligible deposits and certain investment claims. Funds held as e-money do not become insured bank deposits simply because they are visible as an account balance.