A savings account is an account for the purpose of forming the authorised capital of the Customer, the legal entity to be established (for the purpose of accumulating initial cash contributions).

Deposit (trust) account is opened only for the statutory customers for the safekeeping and management of funds entrusted to them by other persons, where these funds remain the property of the persons who entrusted them.

A savings account with Urbo Bank may be opened by the founder of the company or a person authorised by the founder.

A deposit account is opened for persons who, in accordance with the legislation of the Republic of Lithuania, may hold funds of third parties as deposits or in trust.

The account can be opened for:

• Lawyers and notaries;
• Bailiffs, courts and prosecutor offices;
• STI, Customs departments;
• Financial brokerage firms, banks and other credit institutions.

To open a deposit account, legal persons must have an Urbo Bank account in their name.

A savings account can be opened:

• At a bank branch on presentation of the documents required by the bank;
• Electronically via the State Enterprise Centre of Registers.

Once the company is registered, you can convert your savings account into a bank account by visiting your nearest bank branch (insert link to list of departments here)