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Satchel Current Account

Where is Satchel business account available?

Satchel for Business is currently available for companies that are registered and have a physical presence in the European Economic Area (EEA) or Switzerland. This includes the following countries: Austria, Belgium, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom.

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What can I do if my country is not supported yet?

We will add your application to our priority waiting list and will notify you as soon as our services become available in your country.

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How can I open an account?

You can easily open a personal or business account by submitting a Personal / Business account opening form, which you can find on our website. After the form is submitted, it can take up to 7-10 business days to complete the compliance checks and open your account.

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What documents are required to open a personal or business account?

What documents are required to open a personal or business account?
You can find the list of required documentation on our website:

Documents set for individuals

https://satchel.eu/documents-set-for-personal/

Documents set for businesses

https://satchel.eu/documents-set-for-business/

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What requirements are in place for beneficial owners and directors of a company?

To open a Satchel business account, we need to confirm the details of the directors and primary shareholders of your company. This policy is in line with the “Know Your Customer” (KYC) regulatory procedure, which helps businesses verify the identity of its clients. You will need to provide details of the individuals who own more than 25% of the cumulative shares of your business. These shareholders and directors will need to provide a high-quality photo of an official ID, which is valid for at least the next three months. You can invite them to submit their ID check autonomously or upload the documents on their behalf. Please note that we may ask for additional documents.

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What types of accounts do we offer?

Your master account is opened in EUR, comes with a unique IBAN and BIC, and is designated for SEPA payments only. There is a possibility to open additional accounts for international transfers in various currencies via a shared IBAN. To order accounts in other currencies, please submit a SWIFT order form, and we will get back to you with the most suitable solution for your banking needs.

SWIFT order form

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Does Satchel provide online banking services?

Yes. Any personal or business IBAN account opened with Satchel includes free access to our online banking services.

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Can I manage my Satchel account directly from my smartphone?

Yes, you can easily access your Satchel for account via your smartphone by downloading our mobile banking app (Satchel for iOS and Android). You can download the app here:

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What is an IBAN?

An International Bank Account Number (IBAN) is the standard code for identifying international bank accounts across national borders. A European IBAN is comprised of a maximum of 27 alphanumeric characters. Any business or personal Satchel account has a unique IBAN assigned to it.

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Where can I find my IBAN?

You can find your account details by taking the following steps:

Satchel Web Client Office → Sign in to your Satchel account and go to the “Accounts” menu on the left side of your screen → “Accounts” page → Choose the needed currency (if you have two or more currency accounts) → Click on the Funding Instructions tab → Select one from the available accounts and click on it.

Satchel Mobile App → Sign in with your passcode and choose the needed currency (if you have two or more currency accounts) → “Add funds” → Select one from the available accounts and click on it.

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What details should I provide to receive incoming transfers to my Satchel account?

In order to receive funds to your Satchel account, you should provide your full account details to the payer. These can be found in your Satchel Client Office:

Satchel Web Client Office – Sign in to your Satchel account and go to the “Accounts” menu on the left side of your screen → “Accounts” page → Choose the necessary currency (if you have two or more currency accounts) → Click on the Funding Instructions tab. After that choose one from the available accounts and click on it. Account details, such as Currency, Bank, IBAN, SWIFT BIC , and Beneficiary Name will be shown.

Satchel Mobile App – Sign in with your passcode and select the necessary currency (if you have two or more currency accounts) → “Add funds”. After that choose one from the available accounts and click on it. Account details, such as Currency, Bank, IBAN, SWIFT BIC , and Beneficiary Name will be shown.

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How can I open a new currency account?

To order accounts in other currencies, please submit a SWIFT order form, and we will get back to you with the most suitable solution for your banking needs.

SWIFT order form

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How can I close a currency account that I no longer use?

If you would like to close your account, simply contact our Customer Support team at support@satchel.eu from your registered email, or call us on +370 5214 1818, and request to initiate the account closure procedure. Please bear in mind that additional fees may be applied.

You can see our tariff plans here.

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How can I reactivate my closed account?

Unfortunately, there is no possibility to reactivate an account that has been closed. If you wish to use our services again, please re-apply by submitting a personal or business account application form.

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How can I deposit money to my Satchel account?

The only currently available option to fund your account is via a bank transfer. You can find your account funding instructions by taking the following steps:

Satchel Web Client Office – Sign in to your Satchel account and go to the “Accounts” menu on the left side of your screen → “Accounts” page → Choose the necessary currency (if you have two or more currency accounts) → Click on the Funding Instructions tab. After that choose one from the available accounts and click on it. Account details, such as Currency, Bank, IBAN, SWIFT BIC , and Beneficiary Name will be shown.

Satchel Mobile App – Sign in with your passcode and select the necessary currency (if you have two or more currency accounts) → “Add funds”. After that choose one from the available accounts and click on it. Account details, such as Currency, Bank, IBAN, SWIFT BIC , and Beneficiary Name will be shown.

Note: If you are making a transfer from another SEPA accredited European bank account to your Satchel account in EUR, you have to make sure you are making a SEPA transfer in order to avoid any additional fees charged by your bank. The money will be credited to your Satchel account within 1-3 business days.

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How can I deposit money to my Satchel account via a credit/debit card?

Unfortunately, this option is unavailable at the moment.

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How can I change my phone number, email address, registration address or other personal data?

In order to change your contact details or personal / business data, please contact our Customer Support team at support@satchel.eu

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How can I get a bank statement?

We are currently working on implementing this feature on our online banking platform in order for you to have a quick and easy access to your banking details. Until it becomes available, you can receive an account statement by contacting our Customer Support team at support@satchel.eu, indicating the necessary period and preferred format of the statement in the email.

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How do I submit a complaint?

A complaint can be submitted via three channels:

1. Registered mail sent to the our office address Geležinio vilko g.18A, Vilnius, LT-08104, Lithuania;
2. E-mail complaint@satchel.eu;
3. Online form https://satchel.eu/customer-complaint-form/.

We welcome any constructive critical feedback from our customers, and kindly ask you to provide a detailed explanation of the issue/s you are experiencing. This will help us take appropriate action immediately.

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Didn’t find your question?
Contact our support team via e-mail or call