Lightyear
Global fintechNo DGS (EMI)Best for: BrokerageBest for: Interest on uninvested cashBest for: EUR money-market funds
Pros & Cons
Pros
- Investment platform paying interest on uninvested EUR cash plus access to money-market funds
- not a bank
Cons
- Not a bank — no €100k deposit guarantee (funds safeguarded)
Rating breakdown
Foreigner onboarding67
USD handling60
Transfers25
Value & fees30
Licence & deposit protection
No DGS (EMI)No DGS — investment firm. Client assets under investor-compensation (up to €20k) + held at partner banks; cash interest and MMF are NOT €100k deposit-guaranteed
This is an electronic money institution (EMI), not a bank. Funds are safeguarded, but NOT covered by the €100,000 deposit guarantee. Convenient, but legally it isn't a bank deposit.
- Licence
- Payment institution · Estonian FSA (Finantsinspektsioon)
- IBAN
- Multi-currency details
- SEPA Instant
- Receive only
- Verification of Payee (VoP)
- No
Deposit & savings rates
Compare all deposits →| Product | Currency | TAE / APY | Term | Conditions | Source |
|---|---|---|---|---|---|
| Fondo Monetario EUR (BlackRock) | EUR | 3.15% | On demand | Fondo monetario EUR de BlackRock (no es depósito, no cubierto por FGD). Neto de comisión. | Sourceas of 2026-06-23 |
| Cuenta de efectivo remunerada (EUR) | EUR | 1.9% | On demand | Interés sobre efectivo EUR no invertido. Diario, pago mensual. NO cubierto por FGD (no es banco). | Sourceas of 2026-06-23 |
Editorial review
Lightyear runs on an Payment institution licence: convenient, but your money is safeguarded rather than covered by the €100k deposit guarantee.
It is a global fintech licensed in EE supporting EUR, USD, GBP. FX model: Low-spread FX on conversions.
It tends to suit brokerage, interest on uninvested cash, eur money-market funds.
Fees & terms
- Exchange rate
- Low-spread FX on conversions
- Currencies
- EUR, USD, GBP
- Transfers
- SEPA in/out
- Licence
- Payment institution — Estonian FSA (Finantsinspektsioon)
- IBAN
- Multi-currency details
- SEPA Instant
- Receive only
- Verification of Payee (VoP)
- No
- FX model
- Low-spread FX on conversions
- Opening requirements
- EEA residency; fully remote
- English support
- Yes
- Remote opening
- Yes
- Headquarters
- Estonia
Also consider
FAQ
- Is my money protected?
- No. Lightyear operates under an Payment institution licence — funds are safeguarded but NOT covered by a €100k Deposit Guarantee Scheme. It is not a bank in the deposit-protection sense.
- What IBAN and transfers?
- Lightyear issues local receiving details in several currencies. SEPA Instant: receive.
- Can I open remotely, in English?
- Opening is remote. English support is available. Requirements: EEA residency; fully remote.
Data provenance & verification
Every fact is checked against an official source and stamped with a date. We re-check fees quarterly and document requirements twice a year. Fields not yet independently verified are labelled honestly.
Updated: Dataset compiled: