LHV current account uncapped 3.25% interest

Hazzanet

confederated said:

I assume C&CCC Payments means continuous credit card payments, like when you give your card number to a retailer for a regular subscription?

 Cheque and Credit Clearing Company. 

Nasqueron

Theleak250 said:

Nasqueron said:

Theleak250 said:

Wow too good to be true?

I may apply!

Why is it too good to be true? Starling offer essentially this using their Easy Saver allows you to move money in and out instantly and pays interest daily at 4%, it does beat Kroo which pays 3.15% 

And those are uncapped up to one million pounds?

Edit: I have applied and it says it can take five days for verification. Anyone else had success?

Kroo is £500k but really who is leaving cash worth that much in a current account rather than a saver, ISA, S&S investment etc

janusdesign

Theleak250 said:

Nasqueron said:

Theleak250 said:

Wow too good to be true?

I may apply!

Why is it too good to be true? Starling offer essentially this using their Easy Saver allows you to move money in and out instantly and pays interest daily at 4%, it does beat Kroo which pays 3.15% 

And those are uncapped up to one million pounds?

Edit: I have applied and it says it can take five days for verification. Anyone else had success?

they sent me an email today asking about sources of income....

Thank you for your recent application to open an account with us. As a UK-regulated financial institution, we are committed to meeting legal and regulatory requirements, which occasionally involve requesting additional information to complete our verification process. 

We kindly request that you provide responses to the following questions and submit the required documentation: 

1. Please confirm your annual income. If you have multiple sources of income, please provide details of each income source and the associated annual amount. 

We kindly ask that you respond to this email with the requested information and documentation within 7 days to avoid delays in processing your application. 

Should you have any questions or require assistance, please do not hesitate to contact us at help@lhv.com  

Thank you for your cooperation

janusdesign

... and another one...

Thank you for your recent application to open an account with us. As a UK-regulated financial institution, we are committed to meeting legal and regulatory requirements, which occasionally involve requesting additional information to complete our verification process. 

We kindly request that you provide responses to the following questions and submit the required documentation: 

1. Please provide details about the intended purpose of the account. For example, is it for personal savings, salary deposits, investment purposes, international transactions, or other uses? 
2. Please outline the expected use of the account, including the type and volume of transactions you plan to carry out. This should include any anticipated international transactions. 

We kindly ask that you respond to this email with the requested information and documentation within 7 days to avoid delays in processing your application. 

Should you have any questions or require assistance, please do not hesitate to contact us at help@lhv.com  

Thank you for your cooperation.

i'm not wasting any more time on this nonsense - i've politely told them that I no longer want the account.

Theleak250

I had an email to confirm the application, the account has not been opened yet.

Olenna

Nasqueron said:

Theleak250 said:

Wow too good to be true?

I may apply!

Why is it too good to be true? Starling offer essentially this using their Easy Saver allows you to move money in and out instantly and pays interest daily at 4%, it does beat Kroo which pays 3.15% 

A current account and saving account combo isn't essentially the same as a single current account. Starling Bank even explicitly says 'You won’t earn any interest on this account. This means we won’t pay you interest on your balance'.

confederated

I was lucky, I opened my account in February and it was live pretty much instantly. No interrogation or anything. I now have a debit card which I've added to my Google Wallet. Let's see how it goes.

Digital_Payback

LHV onboarding. 

Just tried to open an account with LHV via their app. 

Used my driving license, which carries my address, as ID. 

At the end I was asked for further proof of Address, so uploaded a bank statement. 

Email received back from LHV saying it was not accepted. 

Have tried bank statements from 3 different accounts and none have been accepted. 

Name, address, date etc. on all uploads crystal clear. 

What do they want!!

WillPS

Nasqueron said:

Theleak250 said:

Nasqueron said:

Theleak250 said:

Wow too good to be true?

I may apply!

Why is it too good to be true? Starling offer essentially this using their Easy Saver allows you to move money in and out instantly and pays interest daily at 4%, it does beat Kroo which pays 3.15% 

And those are uncapped up to one million pounds?

Edit: I have applied and it says it can take five days for verification. Anyone else had success?

Kroo is £500k but really who is leaving cash worth that much in a current account rather than a saver, ISA, S&S investment etc

You'd be surprised. Worth remembering the membership here tends to be toward the sharp end in terms of consumer finance engagement.

I remember a colleague telling me he was paying a few quid a month to Monzo for the privilege of a 2ish% interest rate, thinking he had a great deal.

There are (probably) billions sat earning naff all in current accounts.

Theleak250

I have been asked for a bank statement and proof of ID, a driving license, and was asked how I will use the account. Sent it in.

I then had another email asking for further ID, so I used the passport. The application continues…