TARGET2

TARGET2 is the real-time gross settlement (RTGS) system owned and operated by the Eurosystem. TARGET stands for Trans-European Automated Real-time Gross settlement Express Transfer system.
EMBank is a TARGET2 member.

TARGET2

EMBank is a participant in TARGET2 which enables you to make instant Euro transactions. If you and your business are in the fast lane, you will benefit from TARGET2.

TARGET2 F.A.Q.

WHAT IS TARGET2?
TARGET2 is the real-time gross settlement (RTGS) system owned and operated by the Eurosystem. Central banks and commercial banks can submit payment orders in euro to TARGET2, where they are processed and settled in central bank money.
WHAT IS THE BENEFIT OF USING TARGET2?
TARGET2 payments are made immediately, without adjournments and delays.
IS THERE AN UPPER OR LOWER LIMIT?
There is no upper or lower limit for TARGET2 transactions.
WHO CAN USE TARGET2?
The Central and commercial banks as well as the TARGET2 member banks’ clients can use it.
HOW TO SEND MONEY FROM YOUR ACCOUNT WITH YOUR RM VIA TARGET2?

Provide your RM with the following data:

  1. The beneficiary’s bank name and SWIFT-code*.

*Please note! If the beneficiary’s bank is not a member of the TARGET2 System, his correspondent bank must be a member thereof, and in such a case, it is necessary to give its SWIFT-code. Then, payment will come to the correspondent bank through TARGET2 and subsequently through the communication line established between these banks.

  1. Number of your beneficiary’s account or international bank account number (IBAN).
  2. Full name (in case of transfer to an individual) or the beneficiary’s name (in case of transfer to a legal entity).
  3. Address (residence) of your beneficiary. 
  4. Your payment details: destination, date, and number of documents, under which a payment is made**

**Please note! Subject to the payment details the bank can demand copies of documents, upon which your transfer is made: contract, invoices, specification of goods, etc.

HOW TO SEND MONEY WITH EMBANK ONLINE BANKING VIA TARGET2?

Submit transfer via Internet Banking under menu Payments > Payments and Transfers > Adhoc Payment > Target2 Payment

 

Other Payment Systems

SWIFT

 

SWIFT (Society for Worldwide Interbank Financial Telecommunications) is a cooperative dedicated to providing safe and secure financial transactions internationally. EMBank is a SWIFT member.

SEPA

 

The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for simplification of bank transfers denominated in Euro. As a Lithuania-based bank and a SEPA member, the European Merchant Bank offers value transfers through the SEPA system

EMBank Payments Solution

We know technology gives unprecedented opportunities and we strive to develop payment systems that can easily facilitate your international and local payments.

Make and receive payments with our segregated accounts solution. Your safeguarding account will protect your clients’ funds, while your payment account will allow you to easily perform outgoing payments.

Contact us to learn more about of embedded finance solutions.