Frequently Asked Questions

Walletto, UAB is an electronic money institution holding a licence issued by the Bank of Lithuania on 29 March 2018 (https://www.lb.lt/en/sfi-financial-market-participants/uab-walletto). We provide payment services ranging from opening a payment account to card issuing and acquiring. While providing the payment services we also issue, distribute and redeem electronic money. Our goal is to make payments acceptable, cost-effective and easy for merchants of all sizes.

No, we are not a bank as we do not provide credit or other financial services that only licensed credit institutions can provide. We are an electronic money institution licensed by the Bank of Lithuania, and we are entitled to provide the payment services specified in the licence (https://www.lb.lt/en/sfi-financial-market-participants/uab-walletto), to issue, distribute and redeem electronic money and to exchange currency. The specific services we provide are listed in Clause 1.6 of the General Terms and Conditions.

Electronic money is electronically, including magnetically, stored monetary value as represented by a claim on Walletto. When we receive funds for payment transactions, we issue electronic money to be accepted by a natural or legal person other than Walletto. To describe the service in simple terms, when you top up your Walletto cards or accounts, you obtain electronic money issued by us. Since the value of the electronic money is equivalent to the amount and currency on your account, you will simply see your electronic money as funds available on your account.

Prior to deciding to starting to use our services, please read the Contract on the Payment Services carefully. The Contract is comprised of the following documents:
1. the General Terms and Conditions (https://walletto.eu/important-information/);
2. the Terms and Conditions of particular Service (https://walletto.eu/important-information/);
3. the Commissions (https://walletto.eu/pricing/);
4. the Privacy Policy (https://walletto.eu/privacy-policy/);
5. additional agreements between Walletto and a particular Client.

Please contact us by using our website. After filling in your details and completing identification, you will be able to use all of our benefits. An account with Walletto can be opened in seconds.

Walletto dilligently follows the requirements of the General Data Protection Regulation, therefore, we only process your personal data for legitimate purposes. The detailed information on the data categories, processing purposes and your rights can be found in our Privacy Policy.
To briefly summarise, the main purposes why we collect and process your data are:
• the provision of payment services, i.e. performance of our contractual obligations to you; and
• legal obligations, i.e. compliance with regulatory requirments, especially those relateed to the prevention of money laundering and terrorist financing, circumvention of international sanctions and fraud.

As a payment service provider, prior to the provision of payment services to you we are bound by law to gather and verify relevant information that is subject to further updates. Namely, before starting to provide any payment service to you (e.g. opening and maintenance of a payment account, execution of payment orders initiated by you, issuing of a payment card, etc.) we shall request you to provide relevant information and documents in order to verify your identity, understand the nature of your business activities (in case you are onboarded as a Business Client), etc. We shall record and store the information and documents you provide for the time limits defined in applicable laws. Please note that we are also bound by law to conduct constant monitoring of our Clients. Such monitoring is called due diligence process / KYC / KYB. Accordingly, we shall request you to update your information and documents from time to time and all the updated information and documents shall be recorder and stored for the regulatory compliance purposes.

IBAN (International Bank Account Number) is an international bank account number standard used by banks to credit funds to a payee’s account. IBAN standard is used in SEPA (Single Euro Payments Area) countries: all countries of the EU together with Norway, Iceland, Liechtenstein, Switzerland, United Kingdom, Andorra, San Marino, Vatican and Monaco.

You can view applied fees on our website: https://walletto.eu/pricing/. If, due to technical or other difficulties, the fee list is not accessible to you, please contact our Customer Support team via email: info@walletto.eu. Our team will either confirm the fees or send you a copy of the fee list.

This is a medium on which information personally addressed to the Client is stored in such a way that it can be accessed for a period of time appropriate to the purpose for which the information is intended and from which the stored information is retrievable without alteration (e. g. the information may be made available to you in the form of an email with a portable document format (PDF) document attached).

Reasons for application rejection may vary. Refusal to register you in our system is always based on important reasons, for example failing to provide requested documents. Unfortunately, we are not always allowed to provide detailed reasons due to the sensitive nature of our internal procedures, however, we will provide explanations, where permissible.

We serve thousands of Clients around the European Economic Area (EEA) and provide various services. Therefore, your user experience can vary due to technical reasons, geography and other reasons. Please also note that we are subject to many rules and requirements from our supervisory authority – the Bank of Lithuania, as well as our partners, which may impact how and if we can provide services. In order to fully identify the cause, you should contact us via email info@walletto.eu.

Yes, you are entitled to terminate a Contract of Payment Services at any time. Please note that you should notify us 30 (thirty) calendar days in advance.

If you are a Consumer (in all cases, not depending on risk level) and/or a Business Client that we consider to be low or medium risk, you have the right to terminate the Contract on Payment Services at any time free of charge, unless you decide to terminate the Contract on Payment Services within six months from the date of its conclusion. If this happens, we will charge you an account termination fee (https://walletto.eu/pricing/).
If you are a Business Client that we consider to be high risk, you will generally be subject to the account termination fee unless we have agreed different terms by separate agreement or you decide to terminate the Contract on Payment Services due to a change in the terms and conditions of the Contract on Payment Services. For example, if we notify you of changes to the General Terms and Conditions or to the terms of a particular payment service, you have the right to terminate the Contract on Payment Services free of charge by giving us thirty calendar days' notice before the changes take effect.

If you are an individual and you intend to use the payment services provided by Walletto for the purposes that are not related to your business, commercial or professional activities, we will consider you to be a Consumer.
If you intend to use Walletto services for a legal entity you control (company, institution, organisation or similar) or you are a natural person who intends to use Walletto's services for your business, commercial, professional or other profit-related purposes (other than employment), we will consider you to be a Business Client.
Example: you are employed under a contract of employment and you will use the Walletto Services for your personal and/or family needsyou are a Consumer. However, if you provide services under a self-employed person's certificate or business permit (e.g. you are a lawyer, broker or offer other proffesional services) and you want to use Walletto services for the purposes related to this activity, you are not a Consumer, but a Business Client.
If you are still unclear or have further queries, please contact us at info@walletto.eu.

The standard and advanced rates published on our website are based on our risk assessment of the Client. Standard commissions apply to low and medium risk Clients and advanced commissions apply to high risk Clients.
All Clients, both Consumers and Business Clients, are assigned a particular risk level. We will inform you in detail about the commissions applicable to you before you enter into a Contract on Payment Services with us.

Our services cover all SEPA (Single Euro Payments Area) countries. For more specific information regarding service availability in your location or to inquire about services in a jurisdiction, please contact us via email info@walletto.eu.

We currently provide services in Euros. We are continuously expanding our services and plan to introduce additional currency support in the future to allow you to make international payments in different currencies. We are continuously improving our services to meet your needs, so be sure to stay tuned for updates on the introduction of new currencies.

In order to ensure compliance with relevant legislations, Walletto has to apply certain restriction on business activities. List of prohibited activities is established in Section 8 of the General Terms and Conditions.

Absolutely! We understand the importance of flexible payment options. You can increase your payment limits by reaching out to our Customer Support team via email: info@walletto.eu.

Absolutely! Our electronic system allows you to easily track your payment transactions. Our convenient monitoring feature shall keep you informed regarding all your payments. Simply log in to your account to access this functionality and stay updated on the status of your transactions in real time.

Kindly note that when making a payment, it is very important that you carefully check all payment information payee details and amount before authorising it. We regret that once a payment instruction has been submitted, it is usually not possible to cancel it, except in the following cases:
1. we have not yet started to execute the payment order;
2. the payment transaction was initiated by or through the payee, in which case the payment order can be cancelled with the payee's consent;
3. we have agreed with you on a specific date for the execution of the payment order (e.g. we execute the payment order submitted by you in advance on the tenth day of each month), in which case the payment order may be cancelled at the latest by the end of the business day preceding the agreed date of the payment order (i.e. by 6 pm (Lithuanian time)).
If you notice that you have made a mistake in making a payment or if you have any other queries regarding cancellation of a payment, please feel free to contact our Customer Service team at info@walletto.eu or contact your personal manager.

No, Walletto does not represent the parties to the payment transaction (i. e. the payer and/or the payee) and does not handle any disputes between the parties to the payment transaction. Walletto is solely responsible for the services it provides and for the proper and high quality of its services. This is where Walletto's liability towards its Clients comes from. For example, if Walletto fails to execute or improperly executes a payment order, Walletto will not apply or will refund the commission paid. We shall also be liable for the Client's direct (consequential) damages, if any, resulting from the non-execution or improper execution of a payment order.
However, if you made a payment and the payee does not provide goods or services, we shall not be liable for the payee’s failure to perform its obligations. In order to protect your rights you should contact the payee or file a claim tocompetent authorities (e.g. the police or court).

If you are a Consumer, you have the right to ask us to refund the amount of a payment transaction initiated by or through a payee, but please note that you must submit your request in writing on paper or other durable medium no later than 8 (eight) weeks from the date on which the funds were debited from your account. It is also very important to note that the mere submission of a request does not guarantee a refund. All of the following conditions are required:
1. the exact amount of the payment transaction was not specified when the payment transaction was authorised;
2. the amount of the payment transaction is more than you could reasonably (which means you will need to prove) have expected, taking into account your previous spending, the terms of your contract with the payee and other relevant circumstances;
3. you did not give your consent to the payment transaction directly to us (in other words, you gave it to the payee, for example);
4. the payee has not provided you with information about the forthcoming payment transaction in an agreed manner or has not made it available to you at least 4 (four) weeks before the intended execution of the payment transaction.

It is important to note that only Clients who are Consumers can make such a request. Upon receipt of your request, we will first determine whether the request was made in a timely manner, i.e. within 8 (eight) weeks of the date on which the funds were debited from your payment account. If the deadline is met, then we will assess whether it meets all the mandatory conditions (see FAQ question ‘I am a Consumer and my payment account has been debited for a payment transaction initiated by or through a payee. Can I recover the funds?’). If all the conditions are met, we will reimburse you the full amount of the payment transaction within 10 (ten) business days and ensure that you do not suffer any loss due to the commission payable to us, if any. If we find that the conditions are not met, we will inform you of the reasons why we refuse to refund the funds from the completed payment transaction.

SEPA (Single Euro Payments Area) transfer is a standardized method of sending payments in euros within the European Union (EU) and associated countries.

SEPA region consists of 36 countries, which include 27 European Union member states, as well as Switzerland, the UK, San Marino, Vatican City, Andorra, Monaco, and the three EEA countries of Iceland, Norway, and Liechtenstein.

While we aim to facilitate payments to a wide range of payees, certain legal and regulatory requirements may impose restrictions on who you can send payments to. These restrictions may include compliance with international sanctions, anti-money laundering (AML) regulations, and know-your-customer (KYC) requirements. It's important to ensure that your payments comply with our Contract on Payment Services and regulatory guidelines to avoid any issues.

Payments are processed within the timeframes established within the Terms and Conditions of Payment Services, which can be found here: https://walletto.eu/important-information/.

Yes, you can make mass payments through our platform. Simply upload a file with payee details and amounts, and our system will handle the rest. Efficiently manage large-scale transactions with ease.

SWIFT (Society for Worldwide Interbank Financial Telecommunication) transfer is a secure method for performing international transactions between banks. It involves the exchange of financial messages to facilitate cross-border transactions.

Participating in our referral program is easy! Please contact us via email at sales-payments@walletto.eu.

The Republic of Lithuania Law on the Prevention of Money Laundering and Terrorist Financing sets condition when the execution of payment transactions is prohibited. One of these conditions is when the nature of a payment transaction is unclear. In such cases Walletto shall request to provide additional information. For more details, please refer to this document.

Activating your card is super easy! Perform the following steps:
1) Log in to your internet banking account;
2) Navigate to the “Card” section;
3) Look for the “Activate” button next to your card details;
4) Click on it and follow the prompts for card activation. That's it! Your card will be activated and ready to use in no time.

Card spending limits refer to the maximum amount of money you can spend using your card within a specific timeframe, either per day or per month. These limits are set by the Walletto and apply to purchases as well as ATM withdrawals.
To find out your card spending limits, simply get in touch with your personal manager. They'll be able to provide you with the specific limits applicable to your card and will answer all your questions.

The PIN can be changed in internet banking by clicking on your card and using function ‘PIN change’.
Please note that after PIN change, physical card needs to be repeatedly activated in an ATM.

‘Reserved funds’ should be understood as a temporary hold placed on your funds. After performing a payment with a card your funds receive the status ‘reserved’ instead of being deducted immediately. Such practice is established to validate a payment method and ascertain the availability of adequate funds to fulfil the transaction.

Once the ‘reserved funds’ are settled, they may not be recovered. In order to recover the funds, we highly recommend contacting the payee. For more information, please contact our Customer Support team via email: info@walletto.eu.

There may be cases where the card gets stuck in the ATM for technical reasons. However, the ATM may also not return the card if you entered the wrong PIN code three times in a row. Regardless of the situation, we advise you to immeddit funds to a payee’s account. IBAN standard is used in SEPA (Single Euro Payments Area) countries: all countries of the iately contact your personal manager, block the card and order a new one.

If you have lost your card or it was stolen, notify us immediately by email at info@walletto.eu, by general telephone during our business hours (tel: +370 67 798 574), or by contacting your personal manager. Additionally, please block your card in internet banking by clicking on your card and enabling function ‘Card blocking’.

A chargeback is an authorised transaction dispute process.

Please contact your personal manager, provide details of the circumstances of the transaction being challenged and complete the Dispute form. Commission fees for dispute (chargeback) process might be collected (if applicable).

In order to cancel your card, follow these simple steps:
1) Log in to your Internet Bank account;
2) Locate your card details and click on your card;
3) Look for the option ‘Card closing’ and click on it;
4) Follow the prompts to cancel your card.
If you have any questions or need assistance, feel free to reach out to your personal manager for help.

Acquiring service is payment service where Walletto, in accordance with an agreement with the payee, enables the payee to accept payment transactions. Walletto processes them and ensures that the funds are transferred to the payee.

Acquiring services include:
• VISA/Mastercard processing;
• Apple Pay/Google Pay;
• Reccuring/Token payments support;
• OCT/Moneysend;
• e-invoicing.

To proceed with onboarding process, the director/authorized person of the company or person who operates with a business permit should pass an online registration by clicking on the following link: https://walletto.eu/open-an-account/ where will be necessary to fill out the digital application form, attach company's legal documents, as also to pass online identification.
Once Walletto reviews your provided information, you will be contacted by Walletto representatives.

MCC stands for Merchant Category Code. It is a four-digit number used to categorize the type of products or services the merchant offers. MCCs are managed by International Card Organizations and assigned to a merchant by Walletto when a Merchant account is created.

PCI-DSS is an information security standard created by the International Card Organization. The purpose of PCI-DSS is to reduce the risks of payments in electronic stores. On this basis, in order to process cardholder data, it is necessary to comply with the requirements established by PCI-DSS.

Rolling reserve is percentage or volume of Merchant's turnover or Funds held by Walletto which are used by Walletto for covering Commission Fees, ensure consumer protection or any related International Card Organisation penalties, which occur due to Merchant violation of International Card Organisation rules.

Never share your personal information. Most common phishing scams come from phone calls, text messages, fraudulent websites, and suspicious emails. That is precisely why you should never share your account information via email, text messages, phone calls, other mediums, and even in person. We, or any other legitimate organisation for that matter, will never ask you for your account information, including your passwords.
Use reliable websites. Check if the online store is legitimate, double-check the website address to make sure you’re in the correct place, remember to log out on public computers.
Use a secure PIN code. When creating a PIN, ensure a random combination of numbers is chosen. Do not use combinations such as 1111, 1234, your year of birth, address numbers, or other personal or easily guessed information. If you think that your card information was leaked please contact us immediately via e-mail info@walletto.eu.

Fraudsters, in their fraud schemes usually use the element of urgency, with a sole aim to cause stress and act irrationally. If the offer is too good to be true, you should approach it with caution.

If you suspect you have become a victim of fraud, it’s essential to act swiftly to minimize potential damages by:
1. checking your login credentials;
2. checking your account statements;
3. informing Walletto regarding possible fraud via email: fraud@walletto.eu
4. informing your local police department.

First and foremost, please contact us immediately at info@walletto.eu or by phone +370 67 798 574.
As a general rule, if we find that a payment transaction has not been authorised by you (i. e. the Client), we will refund the amount of the unauthorised payment transaction to you immediately (by the end of the next business day at the latest).
However, it is important to note that you may be liable for losses of up to €50 as a result of unauthorised payment transactions if:
1. you have suffered a loss as a result of the use of a lost or stolen payment instrument and the authorisation took place before you notified us of the loss or theft of the payment instrument; or
2. you have suffered a loss as a result of the unauthorised misappropriation of a payment instrument if you did not protect the personalised security features.

Should you not be happy with the provision of our services, you are advised to submit a complaint through the following means:
1) by sending an email to complaints@walletto.eu;
2) by sending the compliant via registered mail at: Žalgirio str. 92-222, Vilnius, Lithuania.We aim to deal with all complaints as quickly as possible, however, if this is not possible, we follow our complaints procedure. We will respond to your complaint within 15 business days and in extraordinary circumstances - within 35 business days.

Providing excellent services to our clients is one of our most important priorities. However, in cases where your issue has not been resolved, you may lodge a complaint to our supervisory authority, the Bank of Lithuania, in the following ways:
1. via the electronic dispute resolution tool E-Government Gateway;
2. by filling in the Consumer application form, available on the Bank of Lithuania's website (https://www.lb.lt/en/complaints-against-a-financial-service-provider), and sending it to the Legal and Licensing Department of the Bank of Lithuania, Žalgirio Str. 90, LT09303 Vilnius, or by email to prieziura@lb.lt;
3. by filling in a free-form application and sending it to the Legal and Licensing Department of the Bank of Lithuania, Žalgirio Str. 90, LT09303 Vilnius, or by email to prieziura@lb.lt.
More information on the procedure for submitting eligible documents to the Bank of Lithuania may be found on the website at https://www.lb.lt/en/dbc-settle-a-dispute- with-a-financial-service-provider.

Please contact us by using our website. After filling in your details and completing identification, you will be able to use all of our benefits. An account with Walletto can be opened in seconds.