EUR IBAN for businesses in Papua New Guinea

Questions

Can a company in Papua New Guinea get a EUR IBAN without a European company?

Yes. Papua New Guinea is not on our list of countries we cannot serve, so a company registered there can apply, subject to KYB checks on the company, its directors and its owners. You do not need a European subsidiary, branch or address. The IBAN is Lithuanian, starts with LT and carries your company’s registered name, so European customers see exactly who they are paying. Onboarding has not opened yet: join the waiting list now and you will be invited to apply when it does.

How long does it take to get the IBAN?

The IBAN is typically issued within 48 hours of approval. Approval comes first: we review your company documents, ownership structure and expected payment flows, and how long that takes depends on how complete your file is and whether we need to ask follow-up questions. Once approved, you receive a 20-character Lithuanian IBAN starting with LT in your company’s name, which you can add to your invoices straight away. These timings are typical, not guaranteed.

How do European customers pay the IBAN?

By SEPA. The IBAN is Lithuanian, so it sits inside the SEPA area even though Papua New Guinea does not. A customer in Germany, France, Italy or any other SEPA country pays it as an ordinary euro transfer, typically arriving the same or next working day. It works in reverse too: you can pay suppliers, staff or partners in any SEPA country by SEPA from the IBAN. Receiving euros by SWIFT from outside the SEPA area, including from Papua New Guinea, is not confirmed yet, so ask us before you rely on it.

Can I convert the euros to Papua New Guinean Kina and pay out in Papua New Guinea?

Yes, as a pay-out. The Papua New Guinean Kina (PGK) can be paid out but not held: it is bought at the moment you pay and sent by SWIFT to a bank account in Papua New Guinea, so there is no PGK balance to manage. Keep your money in euros, or in one of the 35 currencies that can be held, until you pay. The rate and fee are shown before you confirm, and some payments need supporting documents, such as an invoice. Timings are typical, not guaranteed.

Does Papua New Guinea use the IBAN?

Papua New Guinea is not in the SWIFT IBAN Registry, so a local account may not have a standard IBAN. To pay your own account there, you need its account number as your bank writes it and the bank’s SWIFT/BIC code, and the payment goes by SWIFT. Your TrillioniPay account is different: it has a full 20-character Lithuanian IBAN starting with LT, which is what European customers need to pay you by SEPA. Give European customers the LT IBAN together with your company name exactly as it appears on the account and the BIC that comes with your account details.

Is TrillioniPay a bank?

No. Trillioni Pay Inc. is a Canadian money services business registered with FINTRAC and with the Bank of Canada under the Retail Payment Activities Act. It is not a bank. The EUR IBAN is provided through a regulated partner in Lithuania, and TrillioniPay runs the platform you use to receive, hold, convert and pay. Because the account sits in Lithuania, check how Papua New Guinea’s foreign-exchange rules apply to a resident company holding funds abroad before you apply.