myTU

myTU is a Lithuanian electronic money service, operated by UAB Travel Union (company number 305106882), that offers mobile personal and business e-money accounts. It holds EMI licence 68 with authorisation LB001966 from the Bank of Lithuania, and its VAT number is LT100012316519.

Services For companies the service includes business accounts, business cards and payment transfers. The business account is accessed through a web interface, with confirmation of actions in the mobile app, so the owner needs the phone at hand for approvals.

Safeguarding According to the website, client funds are segregated and safeguarded in commercial banks. As with other e-money institutions, this is a safeguarding model and not bank deposit insurance, which is worth remembering when holding larger balances.

Registered address The company is located at Konstitucijos pr. 7, Vilnius 09307.

Who it suits The account suits small and mid-sized businesses, particularly those with a team that travels or works remotely and prefers mobile-led control of spending through cards. Fees, limits, supported currencies and the list of eligible countries are not stated here, so they should be requested before opening an account. The parent entity's name, Travel Union, may also help in confirming who the contracting party is.