Comparison · 2026 edition
European Merchant Bank vs Memo Bank: safeguarding banks compared 2026.
European Merchant Bank and Memo Bank side by side in the Safeguarding Banks Index 2026: scores, evidence, published facts and awards.
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European Merchant Bank and Memo Bank side by side in the Safeguarding Banks Index 2026: scores, evidence, published facts and awards.
In the Safeguarding Banks Index, European Merchant Bank scores higher overall: 3.8 out of 5 (76 out of 100) against 3.6 (72), ranking 2 and 4 of 14. European Merchant Bank also scores higher in every segment.
Overall and segment scores out of 100, and the score out of 5.
| Score | European Merchant Bank | Memo Bank |
|---|---|---|
| Score out of 5 | 3.8 | 3.6 |
| Score out of 100 | 76 | 72 |
| Overall rank | 2 of 14 | 4 of 14 |
| For E-money institutions (out of 100) | 77, rank 2 | 76, rank 4 |
| For payment institutions (out of 100) | 77, rank 2 | 75, rank 4 |
| For firms applying for a licence (out of 100) | 74, rank 2 | 66, rank 7 |
| Type | Lithuanian bank (European Merchant Bank UAB) | French bank licensed by the ECB, supervised by the ACPR |
Each score with the evidence behind it.
| Criterion | European Merchant Bank | Memo Bank |
|---|---|---|
| Who it serves | 4/5 All PIs and EMIs passing KYC, including firms outside Lithuania; minimum fee set by risk level. | 3/5 PIs, EMIs and exempt entities named; a Memo current account is required and countries and minimums are not published. |
| Products | 4/5 Safeguarding and payment accounts with TARGET2 membership and SEPA Instant; EUR only named, no agency banking. | 4/5 Safeguarding accounts paired with settlement accounts in EUR, USD and GBP with SEPA and international transfers; no agency banking. |
| Published pricing | 5/5 One of the most complete published safeguarding tariffs among assessed banks, though maintenance fees are minimums; interest on balances not published. | 4/5 Interest on client account balances published (25% of €STR); safeguarding account fees on request and plan fees only as a "from" price. |
| Onboarding | 3/5 Accounts opened for licence applications with an acknowledgement letter; first contact within one working day; no document list or opening timeline. | 2/5 Online opening stated; no timeline, document list or pre-authorisation route. |
| Technology | 3/5 API platform published; real-time balances and reconciliation reports not stated. | 5/5 API with real-time webhooks on every movement and virtual IBAN reconciliation. |
| Standing | 4/5 Licensed bank in the Lithuanian deposit guarantee scheme; no client numbers. | 5/5 ECB-licensed bank with FGDR deposit protection and a published count of 50+ client account clients. |
Each criterion is scored 0 to 5 against the best published offer in the Safeguarding Banks Index. 0 means not offered or not published. How it is scored
What each provider publishes on its own pages, read on 21 October 2026.
| Fact | European Merchant Bank | Memo Bank |
|---|---|---|
| Legal status | "European Merchant Bank UAB (EMBank) is licensed by European Central Bank", licence No. 3 (linked to the Bank of Lithuania site). | "Memo Bank is a limited company (Société Anonyme)"; "We're a credit institution, licensed by the ECB and supervised by the ACPR". |
| Who it serves | "All PIs and EMIs that have passed the KYC processes can open a safeguarding account in EMBank." A separate fee table applies to "Customers Outside Lithuania or Financial Institutions". Minimum monthly fee "To be determined based on client risk level". | "Serving Payment Institutions, Electronic Money Institutions, fiduciaries, financing companies, and collection agencies"; also "ACPR-exempt entities". A Memo Bank business current account is required first. Countries and minimums not published. |
| Products | Safeguarding accounts and payment accounts; SEPA, SEPA Instant, TARGET2 ("We make EUR payments throughout the world with our TARGET2 membership") and SWIFT; EUR named. | Client (safeguarding) accounts, each paired with a settlement account; "By default, all our client accounts are denominated in euros (EUR)", with USD or GBP on request; French IBANs; SEPA transfers and direct debits; international transfers. |
| Pricing | Safeguarding account opening "4,000.00 €" per account; onboarding fee "min 3,000.00 €"; API connection set-up "10,000.00 €"; safeguarding account maintenance fee "Min 1500.00 €" (period not stated); payment account maintenance "Min 1000.00 €"; SEPA and SEPA Instant outgoing 2.00 €; TARGET2 outgoing 8.00 €, incoming 20.00 €. Interest not stated. | Client account balances earn 25% of the €STR, paid monthly, "from the first euro". Payments plans "From €449 excl. VAT per month". The tariff PDF (updated 8 September 2026) lists safeguarding and settlement account pricing as "Nous consulter" (on request). |
| Onboarding | "we will contact you within 1 working day"; "Your Safeguarding Account will be ready after AML/KYC procedures." EMBank provides "an official acknowledgement letter including your Safeguarding Account details that you will submit to the relevant supervisory authority to proceed with your license application." No document list or opening timeline. | "signing the terms and conditions and opening the client account can be done online." No timeline or document list; accounts before authorisation not stated. |
| Technology | "EMBank offers an API-driven platform" covering account opening, payment initiation and account information. Real-time balances and reconciliation reports not stated. | "Plug our Premium API into your own systems"; "You are notified in real time (webhooks) upon the creation of the account, as well as on incoming and outgoing movements." Virtual IBANs for "precise, granular reconciliation". |
| Protection and scale | "EMBank participates in the deposit guarantee scheme (DGS) of Lithuania." No client numbers published. | "covered by the FGDR, France's deposit guarantee scheme"; LCR of 477% and CET1 ratio of 50%; "more than 50 clients" supported in opening client accounts. |
| Date read | 21 October 2026 | 21 October 2026 |
Not published or not stated by European Merchant Bank: pricing, technology, protection and scale and published pricing.
Not published or not stated by Memo Bank: who it serves and onboarding.
Facts read on 21 October 2026 from: em.bank, em.bank/accounts/safeguarding-accounts, em.bank/fees-and-commisions, em.bank/blog/articles/…; and memo.bank/en/product/client-accounts, memo.bank/en/usage/safeguarding-funds, memo.bank/en/pricing, assets.memo.bank/documents/….
Awards follow from the published scores and cannot be bought.
From each provider's strongest criteria and published terms.
EU EMIs wanting a published safeguarding tariff.
EU firms wanting interest on safeguarded euros.
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