myTU

What is myTU and what do they do?

myTU is a Vilnius-based digital bank offering electronic money accounts for individuals and businesses. Founded in 2019 and licensed as an Electronic Money Institution (EMI) by the Bank of Lithuania since June 2020, myTU provides European IBAN accounts, Visa debit cards, and SEPA transfers, with coverage across the EU and EEA.

The platform serves both retail and business clients. On the consumer side, myTU offers mobile banking with family accounts, a kids' app, and multi-factor authentication for account access. On the business side, it provides online business accounts with a dedicated European IBAN, cross-border payment capabilities, and a proprietary API to automate card issuance, balance checks, and PIN delivery. myTU is a Principal Member of Visa and Mastercard, holding acquiring licences from both networks, and is approved for Visa Direct and Mastercard Send for fast outbound transfers. The bank runs its infrastructure on Google Cloud, using Flutter for its app and AI tools for onboarding tasks such as document verification and risk scoring.

Who is it for?

myTU's core focus is Central and Eastern Europe, with particular attention to markets such as Lithuania, Latvia, Slovakia, Croatia, and Bulgaria. Individual clients include expatriates, remote workers, and families seeking a European IBAN and everyday banking without having to visit a local branch. On the business side, myTU works with companies that need to open a European account remotely, including operators in sectors that face friction with traditional banks. Its API-driven card issuance also suits companies managing multiple cards across departments — for travel, subscriptions, or software spend — or platforms that need to issue cards to their own business partners.

Why do businesses choose myTU?

• Fast, remote onboarding. Business accounts can be opened without a branch visit, using myTU's AI-assisted document and identity checks.
• A European IBAN with SEPA access. Businesses receive direct SEPA transfers, allowing them to operate a working euro account without a local banking relationship.
• Flexible card issuance. Companies can issue as many Visa debit cards as needed, with spending limits and controls set per card or per department.
• API-first automation. The business API lets companies handle card issuance, balance checks, and PIN delivery programmatically, including issuing cards to their own business partners (a 'B2B2B' model).
• Network-level acquiring status. As a Principal Member of both Visa and Mastercard, myTU supports faster settlement and broader card-network capability than many EMIs of similar size.

Businesses using Corefy can simply obtain a MID from myTU and connect it to Corefy's dashboard in a few clicks, without dealing with any integration work.

Is myTU trustworthy?

myTU has operated as a licensed Electronic Money Institution since 2020, authorised by the Bank of Lithuania to issue electronic money and provide payment services across the EU and EEA. It is also authorised by the Bank of Lithuania as a Consumer Credit Provider. As a Principal Member of Visa and Mastercard, myTU holds acquiring licences directly from both card networks rather than operating through a third-party sponsor.

The company is based in Vilnius, a jurisdiction that hosts one of Europe's largest concentrations of licensed payment and e-money institutions, subject to Bank of Lithuania supervision and EU-wide regulatory standards. myTU has grown since its 2019 launch to serve tens of thousands of customers, with its business account and card-issuing infrastructure built on established relationships with the Visa and Mastercard networks.