Lightyear Bank - Estonian IBAN + 3.50% on USD Deposits

[GeneralGogol]

Did anybody here try out Lightyear?

They offer Estonian IBAN and pay 3.50% on idle USD balances, 1.25% on idle EUR balances. Rest of the prices seem pretty cheap as well.

Might be useful for people that need Estonian IBAN for their Estonian companies too.

https://golightyear.com/eu/pricing

 

[Sols]

It's not a bank, nor is it an EMI. It's an investment firm. You do not have the same kind of security and safety mechanisms as you do with a bank or EMI.

Given that it's an unsustainable business model, I'd be careful. If they are burning up investors' money, that will eventually dry up and things will have to change. In their financial statements in UK, they chose to not publish P&L figures.

Do they provide dedicated, named IBANs and allow third party payments to/from those IBANs?

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This is the probably the answer to your question.

 

[Martin Everson]

GeneralGogol said:
Might be useful for people that need Estonian IBAN for their Estonian companies too.
Click to expand...

Most would just use Airwallex to get Estonia IBAN I think.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[GeneralGogol]

Sols said:
It's not a bank, nor is it an EMI. It's an investment firm. You do not have the same kind of security and safety mechanisms as you do with a bank or EMI.

Given that it's an unsustainable business model, I'd be careful. If they are burning up investors' money, that will eventually dry up and things will have to change. In their financial statements in UK, they chose to not publish P&L figures.

Do they provide dedicated, named IBANs and allow third party payments to/from those IBANs?
Click to expand...

Thanks for the detailed reply.

Martin Everson said:
Most would just use Airwallex to get Estonia IBAN I think.
Click to expand...

Thanks for the helpful reply.