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General Questions

Which countries is Satchel available in?

Satchel provides digital banking solutions to customers all over the world, offering full financial freedom. You can open an account with us regardless of your citizenship or financial history, but we do have a list of countries that we do not onboard clients from.You can find the full list of Blacklisted jurisdictions on our dedicated web page: “Blacklisted jurisdictions”.

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How can I sign up?

Applying for a Satchel account is simple and can be done remotely. To start the application process, click on “Open personal account” and proceed to the application form. After the submission of an application form, your case will go through our compliance review. This step can take up to 7-10 business days. In some cases, we may ask you to provide additional information in order to complete everything in accordance with our regulator’s requirements.

Please note that after your documents have been checked and your account is opened, you will receive an email from Satchel with a password setup link. The link is valid for 24h and after it expires, you should request a new one by contacting our Customer Support team at support@satchel.eu. After your password has been set, please proceed to Google Play or AppleStore to download our app. The final stage of the account opening process is verifying your identity through our mobile app. Your smartphone must have a front camera. Please have your passport or a national ID ready as well.

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What is ID verification?

It is an identity verification procedure powered by our partner Onfido, performed through a one-time video call.

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How do I complete the video ID verification call?

Our partner Onfido has developed a safe, secure and convenient method for digital ID verification in real-time, from anywhere in the world. To initiate your one-time ID verification process, please log into your Satchel mobile app from your smartphone, using your email address and password. During the video call you will take photos of your passport or national ID, make a selfie, move your head to the right and left and pronounce a few numbers, which will be given to you by the system. It will not take more than one minute of your time.

Here are a few tips on how to prepare yourself for the video call:

  • Ensure you are in a quiet place with a strong internet connection and good natural lighting.
  • Select your country of citizenship, check what type of document you can use and have it ready.
  • Important: you can pass the verification with a national ID or passport if you are an EU resident and with a passport ONLY if you are a non-EU resident.
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Why is the video ID verification call necessary?

Satchel has a license issued by the Supervision Service Department of the National Bank of Lithuania and has been granted the electronic money institution license Nr. 28, with a payment system participant code Nr. 30600, and conducts business under the laws of the Republic of Lithuania, according to the EU Directive (2009/110/EC) and the EU Directive (2015/2366) on EU-wide payment services. We are legally required to verify your identity before we can open a Satchel account for you. The ID verification procedure through video call is a legally-compliant remote identification process, designed to comply with the latest banking regulations and laws, as well as the Anti Money Laundering Act (AML).

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How old do I have to be to use Satchel services?

At the moment, the minimum age for becoming a Satchel client is 18. We are working to lower it down in the future, developing products for younger generations.

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Contact our support team via e-mail or call