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Offshore Account Fees

Euro currency FREE

DSBC Financial Europe Offshore account opening fee

Euro currency FREE

Multi currency current account opening fee

 

Euro currency FREE

Internet banking for business (sign up + monthly fee)

Euro currency 99

Monthly maintenance fee

* Effective from 5th March 2021

PERSONAL AND Offshore account FEES

ACCOUNT SERVICE
Account opening fee Free of charge
Monthly Maintenance Fee

Standard Package: 19 EUR

ELITE Package (1): 9 EUR

99 EUR
Internet Banking, Mobile Banking Sign up and Monthly fee subscription Free of charge
INCOMING TRANSACTION
Incoming payments from another DSBC Account Free of charge
SEPA incoming 5 EUR
SWIFT incoming (SHA/BEN/OUR) 0.07% - min 20 EUR 0.07% - min 20 EUR
OUTGOING TRANSACTION
Outgoing to another DSBC account Free of charge
SEPA Urgent D+1(2) 0.25%(3) + 25 EUR
SEPA Express D(2) 0.25% + 50 EUR
SWIFT Outgoing (SHA/BEN) 0.3% + 50 EUR 0.35% + 50 EUR
SWIFT Outgoing (OUR) 0.3% + 50 EUR + correspondent bank fee (if any) 0.35% + 50 EUR + correspondent bank fee (if any)
Payment cancellation, modification, refund (SEPA) 10 EUR
Payment cancellation, modification, refund (SWIFT) 55 EUR
Due diligence fee on large amount payment(4)/ complex transaction 0.05% - max 200 EUR

Note:

  1. Elite Package is the package of payment account and payment card opened at the same time. More information could be found at our website.
  2. D – current working date, Lithuania time zone, 08:30 AM – 10:00AM (cut-off time at 10:00 AM).

    D+1 – value date on the following working day, Lithuania time zone.

  3. 0.25% of the total amount of transactions.

    Maximum transaction fee capped at 175 EUR for Urgent D+1. Express D will be charged an additional amount of 25 EUR depending on your request.

  4. Applicable with a transaction amount over 50,000 EUR.

    This service charge is an extra fee for large transactions to check documents and scan KYC compliance. The processing fee is still fixed following the information on the above table.

OTHER SERVICES RENDERED

Account, Statement & Notification
DSBC Financial Europe account statement 10 EUR Hard copy. Free when download via DSBCnet
Balance Certificate for a specific account 20 EUR  
DSBC Financial Europe current account reference letter 50 EUR  
Express courier original copy 60 EUR To client address worldwide: DHL/FedEx
SMS notification about account transactions 0.2 EUR Per message
Email notification about account transactions Free of charge  
Account closure
Closing the Personal or Offshore account after one year Free of charge  
Closing the Personal account within 12 months 200 EUR  
Closing the Offshore account within 12 months 1000 EUR  

Information updated as of 05 March 2021. The fees and charges are subject to change from time to time.

Find out many benefits DSBC can offer for each jurisdiction

Offshore Account FAQs

1. How can I open an offshore company account?

An offshore company account can only be opened by the CEO of a company or owner(s) who has completed the identification procedure.

If you are not the head of the company, but an authorized person, you also need to complete the identification procedure. Afterwards, you'll be required to submit a power of attorney or permission with e-signature by the company head to complete the steps to open an international company account.

To open an offshore company account, you can visit dsbc.eu and click the “Open an account” button on the top right menu. After that, a new landing will appear, in the select box “Type of DSBC Financial Europe Account”, please choose the “corporate account option”. Then you need to fulfil mandatory information and submit. You will receive a confirmation email from DSBC Financial Europe and our Relationship Manager will get in touch with you for documents and onboarding advisory.

We also offer international current accounts for personal usage. If you are an expat and want to open a current account for your business transactions or international payments as well as local expenditures, you can apply for a personal current account. Personal current account is also an offshore account that facilitates you to live your life with ease, transfer money with low cost internationally or domestically.

Personal offshore accounts for expats helps you pay bills or daily spendings conveniently with prepaid/debit Mastercards. DSBC cards are accepted worldwide and you can easily access any ATM around the globe.

See more:

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 is an offshore current account (overseas account, international company account)?

An account held by a foreign bank is often referred to as an offshore account. You can either reside in London or New York or almost anywhere and still open an offshore current account in the capital of Singapore. There are no physical boundaries to possess an international company account. Or global companies whose ownership or business activities lie outside of Europe like some offshore nationalities/jurisdictions: Hong Kong, Singapore, British Virgin Islands, Cayman, Belize, Seychelles, etc can open overseas company accounts in Europe.

Moreover, It is remarkably easy to contact service providers and make an online registration for an offshore current account as long as your institution satisfies the eligible criterias.

Opening and owning an international company account is extremely beneficial for enterprises that do business globally because of the financial advantages and the manoeuvrability it brings.

For example, a large number of costs and fees will be less charged for money remittances by using an overseas current account which no traditional banks can offer. Also, having an offshore business account helps corporates avoid political risks and put their assets under protection.

In conclusion, an offshore corporate account gives enterprises a better, simpler way to make transactions without worrying about hidden fees. Everything that an DSBC Financial Europe overseas account offers is completely transparent.

4. 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.
5. Can I open an offshore current account from another country?

Absolutely. DSBC Financial Europe welcomes and accepts online applications for opening an offshore current account anywhere in the world with the assistance of our dedicated consultant team and experts.

Just by a few minutes to register your information online on our public website dsbc.eu, you can own your international business account without any paperwork.

DSBC offers international business account for clients worldwide. If you are an entity operating your business outside Europe, we also support you opening an account, because every step for onboarding is performed online from registering to documents submission and remote interview.

Moreover, if you are clients whose nationalities/jurisdictions are offshore countries like HongKong, Singapore, British Virgin Islands, Cayman, Belize, Seychelles…, you can apply for DSBC overseas current accounts without any difficulty.

If your businesses are incorporated in the US, India, China, the Middle East..., and you need an offshore current account for transactions with Europe in euro currency, DSBC is the best option for you with an online opening account and fast onboarding process that help you manage cost and time effectively.

Please note that every nationality/jurisdiction will have different requirements, we flexibly support our customers case by case.

For more information, you can contact us by visiting the contact us page or chat box at the bottom right corner on DSBC public website. If you need to speak directly, you can call our hotline +370 5 420 5555 or call WhatsApp/Viber at +370 638 07451.

See more:

6. 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.
Maximum amount transferred per day 15,000 EUR/day Unlimited.
Note: The maximum amount can be pre-set when establishing your account.
Transfer fees Cheaper for transfer within the EU/EEA region. Depends on the number of correspondent banks involved.
7. What are the differences between EU Corporate Accounts and EU offshore accounts?

The main differences lie in the location that a legal entity incorporates. EU Corporate accounts are applied for companies that are operating businesses in the EU, while EU Offshore Accounts are opened for entities that run business activities outside of Europe. For example, if your enterprise is licensed to operate in regions within the European Union territory, such as German, Italy, Spain, Sweden, etc. Then the most suitable current account for your institution should be a corporate account.

On the other hand, financial institutions like DSBC Financial Europe also provide money remittance service and offshore company account opening service for establishments doing business outside of the EU. There are little to no limits for enterprises operating anywhere in the world legally when owning an EU offshore account.

However, there are some of the constraints on opening EU offshore accounts in specific regions due to the European commission's charter. Find out more about regional terms and conditions.

See more:

8. 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.

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(Expired) Enjoy free 03 months of account management fee when opening a Personal and Corporate account with DSBC Financial Europe!

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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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