Lightyear
- This is an Payment institution, not a bank: funds are safeguarded, not covered by a €100k deposit guarantee.
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
Why this score
Good fit for
- you need to hold a balance in USD
- you want yield on an idle balance (up to 3.15%)
- you receive international wires (SWIFT)
- you receive SEPA transfers
May not fit if
- you need crypto in or out
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
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
Data reviewed by Ilya ChernetskiyFounder and editor, nomonedaUpdated: 2026-08-15
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
- Card cost
- No card — Lightyear issues no payment card
- Local-currency withdrawal
- Not disclosed
- USD withdrawal
- Not disclosed
- Withdrawal fees
- Not disclosed
- Limits
- Not disclosed
- USD yield
- Not disclosed
- Cashback
- Not disclosed
- Currencies
- EUR, USD, GBP
- Transfers
- SEPA in/out, SEPA Instant in, SWIFT 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
Transfer routes
One row per direction, rail and currency — with what we hold on fees, speed and limits. A blank fee is not a free transfer; it is a fee we have not collected.
| Route | Fee | Speed | Limits |
|---|---|---|---|
| SWIFTincoming | Not published | Not published | — |
| SWIFToutgoing | Not published | Not published | — |
| SEPAincomingEUR | Not published | Not published | — |
| SEPAoutgoingEUR | Not published | Not published | — |
| SEPA InstantincomingEUR | Not published | Instant | — |
Who holds your money
The name on the app is not always the company holding the balance, and deposit protection follows the licence rather than the brand.
| Role | Organization | Answerable for | Applies to |
|---|---|---|---|
| Licence holder | LightyearEstonian FSA (Finantsinspektsioon) | Operating under regulatory permission | All currenciesNo protection scheme recorded |
What to know before you move money
Elevated exposure — At least one thing here would change a reasonable person’s mind.
- CriticalThis is an Payment institution, not a bank: funds are safeguarded, not covered by a €100k deposit guarantee.
Read from: eu.license_type, eu.dgs_covered
Recent updates
- 2026-08-15checked11 facts about Lightyear re-checked against their sources
- 2026-06-23checked2 deposit rates at Lightyear re-checked
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User reviews
User score
No reviews yet.
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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.
Independently corroborated, rated on the full model and checked within the year. This service can appear in our ranked picks.