EUR and GBP Accounts

Account services to hold and segregate funds, we support your access to the UK and EU payment schemes through our Banking licenses direct memberships. We offer Operational, Settlement, Safeguarding and Virtual account types. We can currently support 8 currencies for all account types.

Agency Banking services for licensed payment institutions to allow indirect EUR & GBP payment scheme access using their own Sort Codes/BIC codes through the LHV Banking Services platform.

Operational Accounts

Designed to hold your business's operational funds.

Through LHV, Banks and Payments businesses can access physical accounts to support regulated and operational business activity in the UK or EU. This gives financial service providers a crucial competitive edge, enhancing their service proposition.

An operational account is a physical account held in the name of the corporate and can be linked to underlying virtual IBANs to allow department, entity-based or operational reconciliation, without the need for multiple bank accounts.

Available in: GBP, EUR, CAD, CZK, HRK, HUF and RON.

Settlement Accounts

LHV’s settlement accounts are available to regulated entities to receive and pay out client funds. This account has safeguarding capability, either as part of the account or in a separate allocated safeguarded account. Settlement accounts can have underlying virtual IBANs to enable easy reconciliation whether inbound or outbound.

Available in: GBP, EUR, CAD, CZK, HRK, HUF and RON.

Segregation or Safeguarding Accounts

Multicurrency accounts for segregating customer funds to comply with regulatory requirements, such as Payment Services Regulations, Electronic Money Regulations, Client Assets Sourcebook (CASS) or other applicable legislations.

Available in: GBP, EUR, CAD, CZK, HRK, HUF and RON.

Virtual Accounts

Virtual account numbers, linked to a physical bank account. Used to separate out transactions sent to a real bank account for improved reconciliation and treasury management. Payment service providers, marketplaces, banks and other regulated entities who provide wallet functionality to their end customers are able to harness Virtual IBANs (EUR) and account numbers (GBP) to receive and send funds in a clear and segregated manner.

Virtual accounts through LHV:

  • Local account details in GBP and EUR with real-time access to a variety of payment schemes
  • Quick and easy account setup through our LHV Connect API
  • Reporting capability allows full visibility and reconciliation
  • Unique account details: issue UK and European virtual accounts and IBANs for your customers in their own name
  • Our accounts deliver full transparency and faster settlement