18. June 2020
Real-time euro payments, or instant payments, have become an integral part of everyday banking. From July, LHV raises the instant payment limit to EUR 100,000.
Instant payments, which LHV made available to clients from the beginning of last year, make the execution of payments more convenient. Until now, payments of up to EUR 15,000 were moving in real-time within seconds, but from 1 July, LHV raises the amount limit to EUR 100,000.
‘Since the current instant payment limit of EUR 15,000 has occasionally become an obstacle for transfers, and the pan-European instant payment system will support the transmission of higher amounts from July, LHV will allow its clients to make instant payments of up to EUR 100,000 immediately,’ said Kaspar Loog, Head of Payment Services at LHV.
However, every client should take a responsible approach to their own limits. ‘LHV operates to ensure the security of payments and prevent fraud, but every client should also take a responsible approach regarding their own limits. The limits should meet the client's daily transfer requirements, and for security reasons, we recommend keeping the limits as low as possible,’ Loog stressed.
Limits can be changed temporarily if necessary, for example in order to make a larger transaction. The easiest way to do this is in the LHV internet bank by selecting ‘Information and Settings’ -> ‘Accounts and Limits’ in the menu.
LHV offers instant payments free of charge, as with regular European payments. You should know that when making a payment in the mobile bank or internet bank, payments are made as instant payments whenever possible. If a payment is successful, the client is shown whether it was made as an instant payment or as a regular European payment.
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank and LHV Varahaldus. LHV employs nearly 470 people. LHV’s banking services are used by nearly 221,000 clients, and pension funds managed by LHV have more than 178,000 clients. LHV’s UK branch offers banking infrastructure to 120 international financial services companies, via which LHV’s payment services reach clients around the world.All news