Lightyear Bank - Estonian IBAN + 3.50% on USD Deposits

[GeneralGogol]

Did anybody here try out Lightyear?

They offer Estonian IBAN and pay 3.50% on idle USD balances, 1.25% on idle EUR balances. Rest of the prices seem pretty cheap as well.

Might be useful for people that need Estonian IBAN for their Estonian companies too.

https://golightyear.com/eu/pricing

 

[Sols]

It's not a bank, nor is it an EMI. It's an investment firm. You do not have the same kind of security and safety mechanisms as you do with a bank or EMI.

Given that it's an unsustainable business model, I'd be careful. If they are burning up investors' money, that will eventually dry up and things will have to change. In their financial statements in UK, they chose to not publish P&L figures.

Do they provide dedicated, named IBANs and allow third party payments to/from those IBANs?

 

[Martin Everson]

Might be useful for people that need Estonian IBAN for their Estonian companies too.

Most would just use Airwallex to get Estonia IBAN I think.

 

[GeneralGogol]

It's not a bank, nor is it an EMI. It's an investment firm. You do not have the same kind of security and safety mechanisms as you do with a bank or EMI.

Given that it's an unsustainable business model, I'd be careful. If they are burning up investors' money, that will eventually dry up and things will have to change. In their financial statements in UK, they chose to not publish P&L figures.

Do they provide dedicated, named IBANs and allow third party payments to/from those IBANs?

Thanks for the detailed reply.

Most would just use Airwallex to get Estonia IBAN I think.

Thanks for the helpful reply.