Send money to Lithuania from Canada
Lithuania has used the euro since 2015, so money leaving Canada is converted into euro once and paid as euro into a Lithuanian account. Swedbank Lithuania, SEB Lithuania and Luminor Bank are supported, reached by IBAN. You see the rate and the fee before confirming, and nobody in Lithuania needs a Grey account.
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Two generations send along this corridor
Lithuanian Canada has two layers that rarely overlap. The older one arrived after the war and settled in Toronto, Mississauga, Hamilton and London, Ontario, building parishes and credit unions that are still going. Their descendants hold titles to land and houses in Lithuania that came back to the family after 1991, and the money they send tends to follow a document: a surveyor, a lawyer, a tax office, a builder.
The newer layer left after 2004, worked in Ireland or Britain first, and reached Alberta and southern Ontario later. They send for ordinary reasons and more often: parents in Kaunas or Klaipeda, a nephew's tuition in Vilnius, a car, a roof, a hospital bill.
What both need from a transfer is the same thing. One conversion into euro, a figure they can quote to whoever is waiting, and a payout straight into a Lithuanian bank account without a third party in the middle.
From Canada to a Lithuanian account in three steps
Sign up
Grey accounts are free and open in about five minutes on a phone, using a valid identity document. Nothing needs signing in front of anyone.
Fund
Your Grey balance is held in US dollars, provided by Lead Bank, in pounds or in euro. It fills up from a client, an employer or a transfer you arrange yourself.
Send
Put in the Lithuanian IBAN, check the euro figure that will arrive against the rate and fee beside it, and confirm. Transfers typically arrive within minutes.
The cost of sending euro to Lithuania
Where this bites on the Lithuanian corridor is renovation work. A builder in Panevezys or Alytus quotes in euro, asks for a deposit, then a stage payment, then a balance. Three transfers over a summer, each one conveying a number somebody else set.
Judge providers on the euro arriving at each stage, not on the fee. A wide rate applied three times over a season costs considerably more than a fee you can see and plan for, and the difference only shows up when the builder says the payment was short.
One conversion into euro, fixed when you confirm
Lithuania is inside the eurozone, so your balance converts into euro once. Euro is what Swedbank, SEB or Luminor credits, and nothing is converted again after it lands.
The rate you accept on the confirmation screen is the rate used. It does not shift while the transfer settles. That is what lets you tell a contractor or a university bursar a euro amount rather than a range.
Grey set against a Canadian bank wire
Lithuanian payments are often mid-sized and repeated, which is exactly where an international wire from BMO, RBC, Scotiabank, CIBC or TD Canada Trust works badly. The wire fee is identical for a tuition instalment and for a stage payment on a roof, the rate is applied by the bank without being shown to you first, and an intermediary bank can shave the euro before it reaches Vilnius. Grey converts once, puts the rate and the fee in front of you, and credits the Lithuanian IBAN directly.
What the Lithuanian side receives
Euro, as an ordinary credit in a Lithuanian bank account. The recipient signs up to nothing and goes nowhere to collect it.
Lithuanian bank accounts
Swedbank Lithuania, SEB Lithuania and Luminor Bank are supported. The IBAN is all the routing information the transfer needs.
How long it takes
From a funded balance, transfers to Lithuanian accounts typically arrive within minutes. SEPA Instant carries the payment where Swedbank, SEB or Luminor supports it.
GreyTag
Where the person in Lithuania has Grey as well, a GreyTag transfer between you is free and instant, with no account number exchanged.
Filling the account before you need it
Money arrives in the balance in its own currency. There is no Canadian dollar step at any point.
From a client
Canadians working on contract can have clients pay into their Grey account details, so the balance is already stocked when a Lithuanian invoice turns up.
From an employer
Pay from a company outside Canada can arrive in the balance in the currency it is paid in, ready to convert into euro.
From your own account
Move money in yourself from an account you hold in another currency, at a moment of your choosing rather than under time pressure.
On a renovation or a tuition schedule, keeping the balance slightly ahead of the next instalment is the single thing that makes the payments uneventful.
Reasons money goes from Canada to Lithuania
Building and renovation
Deposits and stage payments to contractors working on a family house, quoted in euro and payable to a Lithuanian account on dates the builder sets.
Tuition and student costs
Semester fees and rent for a son, daughter or nephew studying in Vilnius or Kaunas, paid to the university or to the student's own account.
Parents who stayed
Regular support for parents in Klaipeda, Siauliai or a smaller town, covering heating in winter, medicine and the things a pension does not stretch to.
Land and legal work
Surveyors, notaries and land registry costs on farmland or forest restored to a family after 1991, all payable in euro inside Lithuania.
Four uses account for most of this corridor, split fairly evenly between the old community and the new one.
Why Grey fits this corridor
Opening an account costs nothing. Allow about five minutes and have a valid identity document with you.
Nobody on this corridor sends only once. A builder comes back for a stage payment, a semester ends, a parent needs something in February. Opening the account while nothing is urgent is what makes the next payment a short job.
FAQs
Which Lithuanian banks does Grey pay into?
Swedbank Lithuania, SEB Lithuania and Luminor Bank are supported. You enter the IBAN and euro is credited to that account.
Does Lithuania receive euro or litas?
Euro. Lithuania joined the eurozone in 2015, so there is one conversion into euro and euro is what arrives.
Can I pay a Lithuanian builder in stages through Grey?
Yes. Each stage payment is a separate transfer to the same IBAN, with the euro amount and the rate shown beforehand.
Can I pay a university in Vilnius directly?
Yes, if the university takes a euro bank transfer. You send to its IBAN exactly as you would to a person.
How quickly does euro reach a Lithuanian account?
Transfers from a funded balance typically arrive within minutes. SEPA Instant is used where the receiving Lithuanian bank supports it.
Do my parents in Klaipeda need to install anything?
No. They receive an ordinary euro credit in their Lithuanian bank account and never deal with Grey at all.
Can I pay a Lithuanian notary handling restored family land?
Yes. A notary's account takes a euro credit like any other, and the figure is fixed when you confirm.
Is the euro converted again once it reaches Lithuania?
No. Only one conversion happens, on your side, and the Lithuanian bank credits euro without any further step.
Can I hold Canadian dollars on Grey for Lithuanian payments?
No. Grey runs no Canadian dollar balance. You hold US dollars, pounds or euro and convert on sending.
Will the rate change between confirming and the money reaching Vilnius?
No. The rate on the confirmation screen is fixed at that moment and applies to the transfer as sent.
Is Grey a bank if it credits euro to my SEB Lithuania account?
No. Licensed banking partners provide the banking behind the payment, and what your SEB account receives is an everyday euro credit.
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