Comparison · 2026 edition
Magnetiq Bank vs Mano Bank: safeguarding banks compared 2026.
Magnetiq Bank and Mano Bank side by side in the Safeguarding Banks Index 2026: scores, evidence, published facts and awards.
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Magnetiq Bank and Mano Bank side by side in the Safeguarding Banks Index 2026: scores, evidence, published facts and awards.
In the Safeguarding Banks Index, Mano Bank scores higher overall: 3.8 out of 5 (76 out of 100) against 3.5 (71), ranking 3 and 5 of 14. Mano Bank also scores higher in every segment.
Overall and segment scores out of 100, and the score out of 5.
| Score | Magnetiq Bank | Mano Bank |
|---|---|---|
| Score out of 5 | 3.5 | 3.8 |
| Score out of 100 | 71 | 76 |
| Overall rank | 5 of 14 | 3 of 14 |
| For E-money institutions (out of 100) | 71, rank 5 | 77, rank 3 |
| For payment institutions (out of 100) | 71, rank 5 | 77, rank 3 |
| For firms applying for a licence (out of 100) | 70, rank 4 | 74, rank 3 |
| Type | Latvian bank (AS Magnetiq Bank) supervised by the Bank of Latvia | Lithuanian specialised bank (Mano Bankas AB) supervised by the Bank of Lithuania |
Each score with the evidence behind it.
| Criterion | Magnetiq Bank | Mano Bank |
|---|---|---|
| Who it serves | 4/5 Licensed and pre-licensed EMIs, PIs and crypto firms in Latvia or the EEA named; no minimums published. | 4/5 EMIs and PIs named and foreign firms accepted on a published non-resident tariff, excluding listed countries; minimums not published. |
| Products | 4/5 Safeguarding and current accounts with one API to SEPA, SEPA Instant and TARGET2, principal SWIFT membership and virtual IBANs; no agency banking stated. | 4/5 Safeguarding, segregated and correspondent accounts with SEPA Instant and SWIFT, sending in 12 currencies; no agency banking or direct scheme membership stated. |
| Published pricing | 2/5 General business account and payment fees published as fixed figures; no safeguarding fee or interest published. | 5/5 Fixed safeguarding account opening and monthly fees and tiered balance fees published; euro balances are charged a daily fee rather than earning interest, and KYC fees are "from" prices. |
| Onboarding | 3/5 Firms in the licensing queue targeted and a paid 48-hour application review published; no document list. | 3/5 Full document list and remote opening published; no timeline and no route before authorisation stated. |
| Technology | 4/5 API with webhooks, instant virtual IBANs and reconciliation support; real-time balances not stated. | 3/5 API for payments, balance monitoring and transaction details; real-time balances and reconciliation reports not stated. |
| Standing | 4/5 Licensed bank supervised by the Bank of Latvia with 1000+ client companies published; deposit protection not stated. | 4/5 Specialised bank licence issued by the ECB through the Bank of Lithuania, deposit protection information and published balance sheet; no fintech client numbers. |
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 | Magnetiq Bank | Mano Bank |
|---|---|---|
| Legal status | "AS Magnetiq Bank is a licensed credit institution supervised by the Bank of Latvia." Registration number 50103189561; "Licence No. 06.01.04/255 (issued on 12 September 2008)", "Reregistered on 20 December 2017, No. 06.01.02.01.340/491". Describes itself as a "Fully Licensed EU Bank". | "Mano Bankas AB holds a specialised bank license and operates under the supervision of the Bank of Lithuania"; the licence was "Issued by the European Central Bank through the Bank of Lithuania". Company code 112043081; footer links to "Specialised bank licence No.1". |
| Who it serves | "PSD2-compliant safeguarding for licensed and pre-licensed EMIs, PIs, MSB and crypto firms." Target clients page: payment and electronic money institutions "registered and licensed in Latvia or the EEA"; crypto companies also listed. Excludes "Unlicensed financial institutions conducting actual business operations" and residents of FATF blacklisted countries. No minimums published. | Safeguarding account "Tailored specifically for electronic money and payment institutions". A separate tariff applies to "Non-Residents & Financial Institutions", which covers legal entities established abroad or with foreign owners or controllers, and firms in currency exchange or cryptocurrency trading. "Residents of certain countries and territories are not permitted to open accounts." Minimums not published. |
| Products | Safeguarding accounts with "Ring-fenced client funds, separated from business accounts"; current accounts, overnight deposits and virtual IBANs; "one API connecting to SEPA, SEPA Instant, TARGET2" plus Visa Direct and Mastercard MoneySend; "Direct principal membership with SWIFT, Visa, and Mastercard." "Balances can be held in EUR and other major currencies, subject to agreement with the Bank." FX, business cards and acquiring. Agency banking not stated. | Safeguarding, segregated and correspondent accounts; "Each of our bank accounts comes with an internationally recognised IBAN number"; current accounts; SEPA, SEPA Instant ("Instant euro payments up to €100,000, available 24/7") and SWIFT; funds held and sent in AUD, CAD, CHF, DKK, EUR, GBP, NOK, PLN, RON, SEK, USD and ZAR, received in CAD, EUR, SEK and USD; currency exchange in the online bank; a dedicated consultant. Agency banking and direct scheme membership not stated. |
| Pricing | Price list for EEA legal entities: current account opening 350 EUR, account maintenance 200 EUR a month, minimum account balance 300 EUR; electronic SEPA payments from 15 EUR (standard). No safeguarding-specific fee or interest rate published. | Non-Residents & Financial Institutions tariff: "Safeguarding / Segregated / Correspondent account opening" "500 € for each account"; maintenance "200 € / month, for each account"; "Customer data verification" and "Initial KYC Check-Up" each "From 1 000 €". Euro balance fee from "0.03 € per day per 1.000 €" (up to 100,000 €) to "0.08 € per day per 1.000 €" (above 3,000,000 €); the tariff does not say whether safeguarding balances are excluded. Outgoing SEPA 1 €, SWIFT 30 €; correspondent payments "Individual pricing will be applied". No interest published. |
| Onboarding | "Quick and simplified onboarding"; its Nexpay page targets "EMI & PI Applicants": "Firms in the licensing queue needing immediate infrastructure." Tariff: "Additional fee for express consideration of an application for Current account opening within 48 hours", 350 EUR. No document list or standard timeline. | "You may open a bank account by submitting the required application and supporting documents remotely" or at the Vilnius branch. Published document list for companies registered abroad: register extracts no older than 3 months, articles of association, shareholder structure, identity documents of the manager and board, and last year's financial statements; "Documents are accepted only in Lithuanian or English and must be apostilled". Financial institutions submit "additional documentation relating to the relevant activity". No timeline; accounts before authorisation not stated. |
| Technology | "Through a single API integration, you gain access to regulated banking capabilities without building your own banking stack." "Webhook notifications"; virtual IBANs issued "from 1 to 1,000+ virtual IBANs in seconds"; "Support reconciliation and external audits"; "Real-time fund transfers". Real-time balances not stated. | "Integrate your systems with Mano Bank via our API." "Automate payments, monitor balances and access transaction details with ease"; developer portal. Real-time balances and reconciliation reports not stated. |
| Protection and scale | "1000+" "Companies already use our products"; assets "€178.8 million"; capital and reserves "€34.8 million". Deposit protection not stated on the pages read. | Deposit protection information linked from the site footer. Published 2026 Q2 figures: "€764M" total assets and "€230M" deposits from customers. No fintech client numbers published. |
| Date read | 21 October 2026 | 21 October 2026 |
Not published or not stated by Magnetiq Bank: who it serves, products, pricing, technology, protection and scale, published pricing and standing.
Not published or not stated by Mano Bank: who it serves, products, pricing, onboarding, technology and protection and scale.
Facts read on 21 October 2026 from: magnetiqbank.com/safeguarding-accounts, magnetiqbank.com/banking-as-a-service, magnetiqbank.com/legal/target-clients, magnetiqbank.com/…, magnetiqbank.com/price-list, magnetiqbank.com/wp-content/uploads/2026/06/…, magnetiqbank.com/contacts, magnetiqbank.com; and mano.bank/en/fintech/accounts, mano.bank/en/fintech, mano.bank/en/fintech/payments, mano.bank/en/fintech/correspondent-payments, mano.bank/en/prices, mano.bank/en/faq, mano.bank/en/about-us.
Awards follow from the published scores and cannot be bought.
No award in this index.
From each provider's strongest criteria and published terms.
EEA EMIs and PIs still in the licensing queue.
EU EMIs and PIs wanting fixed published safeguarding fees.
Tell us what you need and where you operate.