General
Storing and sending funds have never been easier, so apply for your account now.
How is Payswix regulated?
Payswix, UAB is an Electronic Money Institution, authorized by the Central Bank of Lithuania (No. 21) for the issuing of electronic money.
In what languages does Payswix provide its services?
While the information on the Payswix website is available in a variety of languages for marketing and easy accessibility purposes, our team will provide further assistance in English and Lithuanian languages only.
Is it safe to send money through payswix?
Of course. Your safety is one of our top priorities. We preach full transparency when it comes to our customers’ accounts and transactions; therefore, we will keep you informed about the status of your account as well as your payments.
Is my personal data safe with payswix?
Since Payswix, UAB is registered under the Data Protection Act, our internal procedures and systems are designed to comply with the data security regulations. Hence, we assure you that the information and documents you share are completely safe.
To know more about our data protection, please check our General Payment Service Agreement and Privacy Policy.
What countries belong to the EEA?
The EEA stands for European Economic Area and the countries that belong to it are Austria, Belgium, Bulgaria, Croatia, the Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.
What countries are the members of the Hague Convention?
The Hague Convention includes Albania, Andorra, Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Barbados, Belarus, Belgium, Belize, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Brunei Darussalam, Bulgaria, Burundi, Canada, Cape Verde, Chile, China, People's Republic of (Including Hong Kong & Macao Special Administrative Regions), Colombia, Cook Islands, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Dominica, Dominican Republic, Ecuador, El Salvador, Estonia, Fiji, Finland, France, Georgia, Germany, Greece, Grenada, Guatemala, Guyana, Honduras, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Japan, Jamaica, Kazakhstan, Korea, Republic of, Kosovo, Kyrgyzstan, Latvia, Lesotho, Liberia, Liechtenstein, Lithuania, Luxembourg, Malawi, Malta, Marshall Islands, Mauritius, Mexico, Moldova, Republic of, Monaco, Mongolia, Montenegro, Morocco, Namibia, Netherlands, New Zealand, Nicaragua, Niue, North Macedonia, Republic of, Norway, Oman, Pakistan, Palau, Panama, Paraguay, Peru, Philippines, Poland, Portugal, Romania, Russian Federation, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Singapore, Slovakia, Slovenia, South Africa, Spain, Suriname, Swaziland, Sweden, Switzerland, Tajikistan, Tonga, Trinidad and Tobago, Tunisia, Turkey, Ukraine, United Kingdom of Great Britain, and Northern Ireland, United States of America, Uruguay, Uzbekistan, Vanuatu, Venezuela.
What countries belong to SEPA?
The outgoing and incoming SEPA payments are available from/to Austria, Andorra, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom, Vatican City and Non-EEA Territories, namely, Saint-Pierre-et-Miquelon, Guernsey, Jersey, Isle of Man.
How to avoid fraud?
Online fraud has become an increasingly common occurrence these days. Hence, while Payswix considers your safety a top priority, it is also important to remember that how careful you are with your daily financial activities plays a big role in keeping your money safe. To learn how to keep your Payswix account safe please check our Fraud Prevention Guidance.
Solutions
Is there an Referral Program I can apply for?
Yes. The Payswix Referral Program is a great way to earn money by introducing leads to us. It is easy to join, and you can enjoy exclusive perks. Just reach out to us at sales@payswix.com to get started!
What are the base requirements to conclude a Correspondent Banking partnership with Payswix?
To establish a Correspondent Banking partnership with Payswix, you must be a licensed financial institution (e.g., EMIs, SPIs, or Banks). Additionally, your company must be registered and licensed in a jurisdiction supported by Payswix.
What can I get from a Correspondent Banking solution?
A: With a Correspondent Banking solution, you can access:
- A Master Account for your company's operations.
- Outgoing SWIFT transfers in USD, GBP, and EUR for your company's own funds.
- Named IBANs for your clients.
How do I apply for revenue-based financing?
To apply for revenue-based financing, you will first need to apply for a payswix dedicated IBAN and Merchant Account. You can do this by filling out the registration form here.
Once the registration form is submitted, you will also be able to complete and submit the merchant form.
After both forms are approved and your account is issued, you will see the option to apply for revenue-based financing directly in your Internet Banking dashboard.
Who can apply for revenue-based financing?
Businesses are eligible to apply if they have been operating for more than 6 months and generate at least €3,000 in average monthly revenue through online sales or via POS terminals.
If you're applying as an e-commerce business, your store must be hosted on a third-party platform such as Shopify, WooCommerce, Wix, etc.
Also, revenue-based financing is available for businesses registered in the following countries: Belgium, Cyprus, Finland, Netherlands, Slovakia, Spain, Lithuania, Latvia, and Estonia.
How much does revenue-based financing cost?
How much does revenue-based financing cost?
A one-time fixed fee is applied when a merchant accepts a financing offer—typically around 10% of the funding amount.
There are no interest rates and no hidden fees.
Example:
Funding amount: €9,000
Loan term: up to 12 months
One-time fixed fee: 8% (€720)
Interest rate: 0%
Repayments: 15% of your incoming revenue until the loan is fully repaid
Why are integrations with third-party platforms required for business financing?
Integrations are what make revenue-based financing possible—no collateral, no paperwork, no rigid schedules.
Here's why:
They allow us to understand your business performance in real time and provide a tailored offer.
The data accessed is strictly read-only and aggregated. For example, when connecting Google or Meta accounts, we don’t see the specifics of your campaigns.
Integrations create a fast, frictionless experience and support fair, data-driven decisions.
What verticals or client categories can I issue IBANs to through Payswix?
You can issue IBANs to the same verticals or client categories that are supported for Payswix's own clients. A detailed list will be provided during the onboarding or agreement process with the Payswix Sales Team.
What is the cost of Correspondent Banking partnership?
At Payswix, we understand that each client profile is unique, so we offer tailored pricing. For more information, please contact our Sales Team at sales@payswix.com.
Do I need to onboard my clients brought through a Correspondent Banking partnership to the Payswix system?
No, Payswix does not onboard your clients directly. However, we are legally required to identify your clients. As part of this process, you must provide the necessary KYC documents and information for every client you intend to issue an IBAN to.
How is revenue-based financing different from traditional loans?
You pay a single, fixed fee instead of ongoing interest charges.
Repayments are flexible—based on your revenue. When your business earns more, you repay faster; when revenue dips, repayments adjust accordingly.
There’s no need for collateral, and no penalties for early repayment.
Where is the catch with business financing?
No catch. Revenue-based financing is designed to be simple, transparent, and aligned with your business success.
You’ll always know the cost upfront, and it never changes—no surprises, no fine print.
What is Softloans?
Softloans is a fintech company that powers the revenue-based financing solution available through Payswix.
Their embedded financing technology enables Payswix to offer fast, transparent access to working capital—without paperwork, collateral, or fixed repayment schedules.
By analyzing real-time business data, Softloans helps us support growing SMEs with funding that flexes with your revenue.
What is Softloans?
Softloans is a fintech company that powers the revenue-based financing solution available through Payswix.
Their embedded financing technology enables Payswix to offer fast, transparent access to working capital—without paperwork, collateral, or fixed repayment schedules.
By analyzing real-time business data, Softloans helps us support growing SMEs with funding that flexes with your revenue.
Applying for an IBAN
What is a multi-currency account?
Multicurrency account allows our clients hold their funds in different currencies within the same account. Such service makes it easier to store, send and receive funds.
What is a designated IBAN account and how do I apply for it?
Designated accounts are generated to provide a named IBAN for receiving and sending out payments. You can apply for a designated IBAN here and fill out the online registration form. Once your account has been set up, you will receive an email with the details of your designated account.
What jurisdictions are accepted by Payswix?
For corporate accounts: Payswix accepts companies registered in countries that are not included in Payswix’s Prohibited Jurisdictions List.
For individual accounts: Payswix accepts individual clients that reside in the European Economic Area including Switzerland, the United Kingdom, and Ukraine.
Prohibited Jurisdictions
The list of Prohibited Jurisdictions includes Afghanistan, American Samoa, Anguilla, Angola, Algeria, Azerbaijan, Bangladesh, Barbados, Belarus, Burkina Faso, Burundi, Cambodia, Cameroon, Central African Republic, Chad, Comoros, Congo, Cote d'Ivoire, Crimea, Croatia, Democratic Republic of Congo, DPRK (North Korea), Equatorial Guinea, Eritrea, Fiji, Guam, Guatemala, Guinea Bissau, Haiti, Honduras, Iran, Iraq, Jamaica, Kazakhstan, Kenya, Kyrgyzstan, Lebanon, Liberia, Libya, Laos, Madagascar, Mali, Monaco, Mozambique, Myanmar, Namibia, Nicaragua, Nigeria, Nepal, Palau, Panama, Philippines, Palestinian Territory, Paraguay, Pakistan, Russia, Samoa, Senegal, Somalia, South Africa, South Sudan, Sudan, Syria, Tajikistan, Tanzania, Trinidad and Tobago, Turkmenistan, Uganda, US Virgin Islands, Vanuatu, Venezuela, Vietnam, Yemen, Zimbabwe.
Prohibited Industries
Payswix does not provide services to companies related to the following industries:
• Unlicensed businesses, where the license is required by law.
• Non-fungible token (NFT).
• Collection of donations as a charity or non-profit organization, NGOs (unregulated, unregistered, and incorporated outside EU).
• Oil & Gas industries (extraction, distribution).
• Activities related to the sale of hazardous goods.
• Replicas.
• Adult services - this includes, but is not limited to, pornography and
nudity (webcam) streaming websites, escort).
• Customer engaging in alcohol and tobacco trade (including online sales).
• Weapons, firearms, and ammunition (production, distribution).
• Customers engaged in drug sales such as marijuana or other illegal substances.
• Religious Organizations and NPOs.
• Extractive industries such as the extraction of precious stones and minerals.
• Art and Antiques.
What documents do I need to provide during the Onboarding/KYC process?
There is a standard package of documentation that we always request once the Onboarding/KYC process is started. However, any type of additional data required will depend on the type of business that your company conducts. You can check our Onboarding/KYC guide here.
Why do you need my personal information?
As a licensed Electronic Money Institution, we require our customers to go through the necessary KYC checks that include the disclosure of certain personal information and documents. This guarantees a safe and efficient onboarding process. Please be assured that we take data use and storage seriously and are operating under the Data Protection Act. Hence, your information is safe with us.
Is it important to give up-to-date information?
Yes, the information you provide must be correct and up to date. Only then, we can conduct successful KYC checks.
What fees will be applied to my account?
Your account fees depend on the pricing category you are in. You can check our pricing here.
My application was rejected. Can I receive an explanation or start a new registration?
Due to Payswix's internal policy, there is certain information we are unable to share with clients, including the reason for the account rejection. If a new registration is possible, our team will reach out to inform you.
What do I do if I put the wrong details while registering?
There is no need to worry. Just contact support@payswix.com and we will help you to amend them.
Can regulated entities receive funds from individuals?
It depends on the type of license and business that your company conducts. Please write support@payswix.com for more information regarding such payments.
Accounts
How can I log into my account?
You can log into your account by pressing on the ‘Login’ button in the top right corner of the main page and by putting the email address and password you used during the registration, as well as confirming your identity by putting an OTP received via SMS or Google Authenticator.
Where do I check my balance?
You can see the balance of your account in the ‘Account’ section. If you have more than one account, you can also see their balances on the Account page by clicking the arrows in the Total Balance window next to the account name.
How do I add users to my account?
You can add sub-users to your business profile so other employees or managers can use the account. To add a sub-user, follow these steps:
1. Go to Settings in your account.
2. Click on Company Users.
3. Add a new user by filling in the required details.
4. Choose the permission level for the sub-user to control what they can access:
• View: Can only view reports.
• Edit: Can edit data, such as recipients.
• Sub Admin: Can do everything except managing sub-users and changing company details.
• Admin: Has full access to everything.
Once set up, the new user can log into the business account with their own email and password. Please note that this feature is available only for corporate clients.
Can I open an additional account?
Yes, you can. Additional accounts (sub-accounts) are great for keeping your funds separate – like savings, salary, etc. – making it easier to manage them individually. You can use any of your accounts to transfer or receive funds.
To create an additional account:
1. Go to the Account page after you log into your Payswix account.
2. Click on New Account in the Total Balance section (purple block).
3. Fill in the required information and submit it for approval.
Once we receive your application, our Team will contact you to confirm which sub-accounts should be activated and review the applicable pricing.
How do I change my password?
Go to ‘Settings’ at the top right corner of your account page and click ‘Change password’. You can also click on the ‘Forgot Password’ button on the login page, put in your registered email address and you will be sent a reset link. Please make sure to choose a secure password by putting a minimum of 8 characters including at least one lowercase and an uppercase letter, one digit, and one of these special characters: !@#$%^&*_
How do I change my email address or my mobile phone number?
For individual clients: Please send your inquiry to support@payswix.com from your registered email address and we will do the rest.
For business clients: to change your mobile number or email address, please send us (support@payswix.com) an official free-form letter with your request. The letter should include the old and the new phone numbers and/or emails and be signed by the director of the company. Once the letter is received, we will do the rest.
What am I supposed to do if I’m not getting the OTP message?
If you have not received an OTP upon registration, please double-check if the phone number you have provided is correct. If everything seems fine, please contact us at support@payswix.com with detailed information and we will investigate this further.
It says my account is blocked. What do I do?
It looks like there were a few incorrect attempts to enter your account credentials or OTP. As a result, your account is temporarily locked for the next 30 minutes. For further assistance, feel free to contact us at support@payswix.com.
How can I close my account?
To close the account, please send your request to support@pasywix.com from your registered email address. Please note that for a corporate account closure, you will be requested to provide an official letter with your request, indicating the reason for the account closure. The letter shall be signed by the director of your company.
My account is closed. Why?
You should have received a letter explaining why your account was closed. If you need more details, feel free to reach out to us at support@payswix.com. Please note, though, that due to our internal policies, our team may not always be able to provide additional information about the closure.
Can I get an account confirmation letter?
Currency Exchange and Payments
Can I sell and buy currencies?
Yes, once your account is activated, you will be able to sell and buy foreign currencies.
How can I exchange my currency?
To make a conversion, log into your account and click on 'Conversions' from the left menu on your dashboard, or go to the Account section and select 'Conversion.' Next, choose the 'Account from' and 'Account to' for the conversion, along with the 'Currency' and 'Amount.' Once you are ready, click 'Convert,' then press 'Confirm' to complete the conversion or 'Cancel' if you change your mind.
Why do your rates differ from other service providers?
The sources for the rate watch are global, hence the data is updated according to the open market at that time.
What currencies can I send?
The outgoing SWIFT payments are available in the following currencies:
• Major currencies: EUR, GBP, USD, CHF, AUD, SGD.
• Other currencies: CAD, BGN, NOK, DKK, HUF, BGN, CNH, NZD, CZK, XPF, HUF, ISK, JPY, MXP, XPF, RON, SBD, SEK, THB, TOP.TND, INR, HKD, PLN, JPY, BRL, CLP.
What currencies can I receive?
The incoming SWIFT payments are available in EUR, AUD, GBP, HKD, SGD, and USD. Please also check “How can I receive Swift payments? section for more information.
Do you have a Payment Processing schedule?
The cut-off times for outgoing and incoming SEPA payments on business days are as follows:
• Outgoing: 6:45; 7:30 (Monday only); 8:50; 9:30; 12:00; 14:30; 16:30; 16:45.
• Incoming: 8:30; 9:45; 12:15; 13:15; 15:15; 17:15; 17:45.
Please note that business days exclude weekends and Public Holidays in Lithuania. Preliminary payment receipt times will be affected on non-business days. As a client, you will be informed of any changes in the payment processing schedule due to public or bank holidays ahead of time.
How do I initiate a transaction?
To start a transaction, go to your Account page and select 'Quick Transfer,' or click 'Transfer' from the left menu on your dashboard and choose 'Make a Transfer.' Then, pick a recipient from your saved list or add a new one. Enter the amount and currency and approve the transaction to complete it.
How do I check my transaction listing?
You can view your most recent transaction in the 'Last Transactions' section of your Account page. For more details, click 'View Statement,' or select 'Statements' from the menu on the left side of the dashboard.
How long does it take to send funds?
Once the transaction is initiated, it might take up to 24 hours for us to process it. After that, the transfer completion time depends on the time zones and local banking hours. SEPA payments (within the EU zone) are usually received within the same or the next business day. Transfers outside of the EU and EEA zone (SWIFT payments) might take up to 2-5 business days to be received by the beneficiary.
How long does it take to receive the funds?
For SEPA payments, funds are typically credited on the same day or the next business day after processing. For SWIFT payments, it usually takes 2-5 business days for the funds to be credited.
How can I receive Swift payments?
If you are interested in receiving incoming SWIFT transactions, please contact our team at support@payswix.com from your registered email address with an individual request, so our team can provide you with personalized instructions.
Will I need to provide any additional documents to receive or send my payments?
As all the transactions are subject to internal review, our team might request additional information to verify such details as the source of funds or the reason for your transfer. This does not mean that each of your payments will be stopped.
Are there any hidden charges?
There are no other charges apart from the ones present in the pricing list provided to you, which you will also be able to see on the transaction initiation.
Which name will my recipients see when they get the funds?
You will be shown as a sender for SEPA payments. For the SWIFT transactions, the recipient will see Payswix, UAB, or our corresponding bank as a sender.
How do I add a recipient?
After logging into your account, go to the 'Recipients' page (found under 'Transfers' on the left menu on your dashboard). Click 'Add New' and fill in the recipient's personal and banking details. Once you've completed the form, save the information to create the recipient.
Be sure to double-check the details to ensure your transactions go through smoothly.
I put the wrong beneficiary details; how do I change them?
If you have not yet initiated a transaction using the incorrect beneficiary details, please go to the 'Recipients' page (found under 'Transfers' on the left menu on your dashboard) and then edit the selected incorrect recipient.
If you have already initiated a transfer, please contact us at support@payswix.com (or give us a call during working hours at +370 (8) 52 07 5750) and we will advise on further steps. You can also check the section “How do I cancel a transaction that I initiated?”.
If I sent a payment by mistake, can I recall it?
We can initiate a recall request if required to the beneficiary’s bank. If the beneficiary’s bank agrees with the recall, the transaction will be returned and credited back to your account. If the beneficiary bank does not agree with the request, we can only suggest contacting the beneficiary and their bank for further details. Charges for recall messages apply according to the set pricing if the message is initiated by Payswix.
How do I cancel a transaction that I initiated?
If the payment is already processed, Payswix can initiate a recall for the transaction. Please refer to the section “If I sent a payment by mistake, can I recall it?” for more details.
What’s the process for a refund?
If you notice a transaction in your account that has to be refunded to the beneficiary, please note that you can initiate the transfer back by yourself or contact support@payswix.com for further assistance in refunding the transaction back to the sender. Please note we will require you to provide a reason for the refund.
Why did I receive an inquiry to agree with the refund to the sender?
If the sender made a mistake or has another reason, they might request a refund for a transaction you received. If the funds have already been credited to your account and Payswix receives a request from the sender's bank, we will ask if you agree to the refund. If you agree, we will cancel the transaction and return the funds to the sender. If not, no action is needed on your part, and Payswix will not process the refund.
I did not receive the funds into my IBAN; What do I do?
For us to locate the funds, we would require proof of payment. Please make sure that all the necessary transfer details are present and send the document to support@payswix.com.
The recipient has not received the funds yet; What do I do?
For the recipient to locate the funds, please reach out to us via support@payswix.com and we will provide you with proof of payment. If the payment is not located, we will initiate a tracer.
How do I start a tracer for the funds?
If the proof of payment that you have received did not help to locate the funds, please get in touch with us again via support@payswix.com and we will start an investigation with the beneficiary bank from our side.
My transaction was cancelled. Why?
If you see that your transaction was canceled and want to know why, please get in touch with support@payswix.com and they will provide as much information as possible.
My transaction was returned. Why?
If you can see that your transaction was returned, the reason for the refund is always indicated in transaction reference\note. The most frequent reasons for the returned transactions are the following:
- AC01 - Incorrect account number
- AC04 - Closed account number
- AC06 - Blocked account
- MS02/MS03 - Not specified reasons by the sender
- RR01 - Missing debtor account or identification
- RR02 - Missing debtor name or address
- RR03 - Missing creditor name or address
- RR04 - Regulatory reasons
If the reason code that you see in the reference field does not match with any of the above-mentioned, or if you have any additional questions, please contact us at support@payswix.com.
My SWIFT payment was not received. Why?
It is very common that when SWIFT transfers have more than one Bank involvement, the transfer may be stuck with different intermediaries for many reasons starting from missing or incorrect information to AML reasons. If you see that the receipt of the transaction is taking too long, please note that in these cases only the sender Bank can correctly track the transfer. If you would like to track down the payment, please refer to the sender and its bank to locate the transaction or ask for a recall initiation if necessary.
Will there be any bank fees involved besides the Payswix ones?
There might be bank fees applied and deducted from the amount you are sending or receiving by the beneficiary by correspondent bank. Payswix has no control over such fees.
What is an internal transfer?
Internal transfers occur between clients that have Payswix accounts. Such transfers are free of charge.
What is a batch payment?
A batch payment option is a great solution to have multiple transfers initiated with one click. All you have to do is to fill out a CSV form and upload it to our system by navigating to 'Transfers' on the left menu on your dashboard and clicking on ‘Batch transfer’. If you are interested in making a batch transaction, please contact support@payswix.com to get the needed file to fill out.
Can I deposit cash into Payswix bank account?
Unfortunately, we do not accept cash deposits.