Lithuania based neobank Valyuz is offering Personal accounts (with debit card) where all transactions can be managed through the iPhone or Android application. At the moment, Valyuz accepts to open mobile bank accounts to the residents of Lithuania.
Valyuz has a rating of 3.2 out of a total of 1 reviews on TrustPilot and is a multifaceted mobile banking solution for the contemporary customer that wants choice, speed and security. Because Valyuz is a fully digital financial platform, it’s simple for users to manage their finances on the go, with all services available directly from a smartphone. They can expect real time account management, instant payments and transfers, low cost currency exchange and holding of several currencies in one single account.
The intuitive interface of the platform makes the banking experience very simple as compares to other apps, whereas it provides a quick overview of balance, transaction history, and helps the user to gain better budgeting. As for safety, Valyuz has done everything it can to ensure your data and funds are closely wrapped in state of the art encryption and authentication. Also, the app works with other fintech services for providing the users with a system of financial options, ranging from investments to loans. Valyuz is a mobile bank designed for both individual customers and businesses, customizing banking to the unique needs of its users beyond what traditional brick and mortars can offer.
It is a Neobank that provides business accounts in multiple currencies, dedicated IBANs, international transfers and corporates expense management.
How to use
To start using Valyuz, follow this comprehensive guide:
Visit the Valyuz Website
Navigate to the official Valyuz website: [https://www.valyuz.com](https://www.valyuz.com)
Initiate the account opening process
The first thing you must do is to open up accounts to people to sign up for your bank. To do this, they’ll need an account to store money in. An easy form would be a way to let people enter their basic information like name, email, and password. You store this information securely in your database. Also, you’ll need to verify users identities (known as KYC or “Know Your Customer”). This is to make sure the bank is safe.
Complete the corporate Questionnaire
You’ll want to fill out the initial corporate questionnaire with as accurate information as possible about your business.
Prepare required documentation
On the basis that Valyuz knows your background, he will state the exact documents he needs. Generally, the following corporate documents are required:
- Certificate of Incorporation.
- Change of Name Certificate (if applicable).
- Directors certificate.
- Shareholder Registry/Certificate.
- Memorandum and Articles of Association.
- Group Structure (if applicable).
- Personal Information of Directors and Ultimate Beneficial Owners (UBOs):
- Copy of passport or ID.
- Recent utility Bill.
Requirements will vary by jurisdiction, incorporation date and license requirements.
Submit documentation
Valyuz will provide instruction, and you’ll upload required documents through the secure portal.
Verification process
Valyuz will review your application with the documents.
At this stage they may request additional information or clarification.
Account approval and activation
Verify your account and upon successful verification you will get confirmation of your account approval. You can then access your account at Valyuz’s online platform or their mobile application.
Explore Valyuz services
Once your account is active, you can utilize various services offered by Valyuz:
Dedicated IBANs
With unique IBANs for transactions in many currencies such as EUR, USD, GBP, ILS, ZAR, SEK, and many other currencies, including SEPA, SWIFT, Faster Payments.
Multi-currency accounts
All cross border payments can be handled by paying in local currencies, exchanging currencies at competitive rates and managing multi currency accounts in one place.
Payment capabilities
What’s more, enjoy multi signatory features and bulk payment options. SEPA and SWIFT payments in all currencies at your fingertip, live FX rates to optimize your financial ops.
Business debit cards
Access funds worldwide with virtual and physical debit cards. Use the mobile app and online platform to help set limits on spending, to control spending and to manage expenses.
By following these steps you can successfully set up your business banking needs with Valyuz efficiently.
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