OKEO

OKEO provides business accounts with a dedicated IBAN, currency conversion and multi-currency payments. The service is operated by Okeo Payments UAB, a Lithuanian electronic money institution (EMI) based in Vilnius.

Licence

The Bank of Lithuania supervises the company. It holds EMI licence 71 with authorisation code LB001991, effective from 13 August 2020. The company number is 305219549 and the BIC is OKEOLT22XXX.

Payments and currencies

OKEO takes part in SEPA, including SEPA Instant, which allows euro transfers to arrive within seconds between participating banks. Accounts can be topped up in EUR, GBP, PLN and USD. The services listed are a business IBAN, FX and multi-currency transfers.

Languages and onboarding

Client service is offered in English and Lithuanian. The conditions for admitting companies are published separately from the geography of payments, so a business outside the EEA should confirm eligibility before applying.

Who it suits

A company that needs a euro IBAN with SEPA Instant access and occasional conversion into other currencies will find the set relevant. Fees and limits should be requested from the company.