LHV Bank?

Yorkie1

I'm looking for an easy access account with a decent interest rate.

From the list of current accounts on the main website, LHV Bank appears - it matches the BoE base rate for interest (currently 4%). 

It's App-only, which I can live with. But, when I look at the fees rates charges document, it seems to state that standing orders and direct debits aren't available.
https://www.lhv.com/legal/fees 

Does anyone have an account with them, and if so, can you confirm whether SO can be set up? I'd like to use the account to fund regular savers elsewhere but don't want to have to remember to manually move funds on particular dates each month.

gt94sss2

LHV have launched support for direct debits now.

confederated

I have had an account with LHV since February 2025. The app is pretty solid and what you'd expect a banking app to do. Faster payments are instant either way. The only issue has been direct debits, or the lack thereof. They are now available, but when a company tries to verify the account details you enter, they may be rejected until they update their validation database. LHV is not a 'new' bank, they have been providing banking facilities to a number of companies which needed a off the peg product. 

I'm not sure about standing orders though - going through my app just now I couldn't see a way to set one up.

wmb194

Yorkie1 said:

I'm looking for an easy access account with a decent interest rate.

From the list of current accounts on the main website, LHV Bank appears - it matches the BoE base rate for interest (currently 4%). 

It's App-only, which I can live with. But, when I look at the fees rates charges document, it seems to state that standing orders and direct debits aren't available.
https://www.lhv.com/legal/fees 

Does anyone have an account with them, and if so, can you confirm whether SO can be set up? I'd like to use the account to fund regular savers elsewhere but don't want to have to remember to manually move funds on particular dates each month.

Standing orders on savings accounts is unusual but Chase offers them on its savings accounts.

friolento

wmb194 said:

Yorkie1 said:

I'm looking for an easy access account with a decent interest rate.

From the list of current accounts on the main website, LHV Bank appears - it matches the BoE base rate for interest (currently 4%). 

It's App-only, which I can live with. But, when I look at the fees rates charges document, it seems to state that standing orders and direct debits aren't available.
https://www.lhv.com/legal/fees 

Does anyone have an account with them, and if so, can you confirm whether SO can be set up? I'd like to use the account to fund regular savers elsewhere but don't want to have to remember to manually move funds on particular dates each month.

Standing orders on savings accounts is unusual but Chase offers them on its savings accounts.

LHV current account, the 4% one, doesn’t offer SOs. This stops me from using them. Their interest rate is great for a current account but not competitive for easy access savings. 

Yorkie1

wmb194 said:

Yorkie1 said:

I'm looking for an easy access account with a decent interest rate.

From the list of current accounts on the main website, LHV Bank appears - it matches the BoE base rate for interest (currently 4%). 

It's App-only, which I can live with. But, when I look at the fees rates charges document, it seems to state that standing orders and direct debits aren't available.
https://www.lhv.com/legal/fees 

Does anyone have an account with them, and if so, can you confirm whether SO can be set up? I'd like to use the account to fund regular savers elsewhere but don't want to have to remember to manually move funds on particular dates each month.

Standing orders on savings accounts is unusual but Chase offers them on its savings accounts.

Indeed, but this is a current account from LHV.

Yorkie1

friolento said:

LHV current account, the 4% one, doesn’t offer SOs. This stops me from using them. Their interest rate is great for a current account but not competitive for easy access savings. 

Thanks for confirming you concluded the same. May have a rethink!

wmb194

Yorkie1 said:

wmb194 said:

Yorkie1 said:

I'm looking for an easy access account with a decent interest rate.

From the list of current accounts on the main website, LHV Bank appears - it matches the BoE base rate for interest (currently 4%). 

It's App-only, which I can live with. But, when I look at the fees rates charges document, it seems to state that standing orders and direct debits aren't available.
https://www.lhv.com/legal/fees 

Does anyone have an account with them, and if so, can you confirm whether SO can be set up? I'd like to use the account to fund regular savers elsewhere but don't want to have to remember to manually move funds on particular dates each month.

Standing orders on savings accounts is unusual but Chase offers them on its savings accounts.

Indeed, but this is a current account from LHV.

A bit of a rubbish one if it doesn't offer SOs. I imagine this functionality will be added at some point, though. 

 Another current account paying interest with SOs is Kroo.

confederated

wmb194 said:

A bit of a rubbish one if it doesn't offer SOs. I imagine this functionality will be added at some point, though.

It’s a matter of opinion. Yes, standing orders are a pretty basic feature of a current account, but I wouldn’t throw out the baby with the bathwater. I’m sure they’ll arrive in due course. I can’t even remember the last time I used or needed a standing order. The app suits my minimalist tendencies - it does what I need without the fluff you see in other banking apps - and the interest on money in the account is a plus. Every person and every service is a package of positive and negative factors and as a package I feel LHV is pretty compelling. I wouldn’t dismiss an account purely because of a missing feature, unless it’s something you know you need. - which for you is clearly the case.

wmb194

confederated said:

wmb194 said:

A bit of a rubbish one if it doesn't offer SOs. I imagine this functionality will be added at some point, though.

It’s a matter of opinion. Yes, standing orders are a pretty basic feature of a current account, but I wouldn’t throw out the baby with the bathwater. I’m sure they’ll arrive in due course. I can’t even remember the last time I used or needed a standing order. The app suits my minimalist tendencies - it does what I need without the fluff you see in other banking apps - and the interest on money in the account is a plus. Every person and every service is a package of positive and negative factors and as a package I feel LHV is pretty compelling. I wouldn’t dismiss an account purely because of a missing feature, unless it’s something you know you need. - which for you is clearly the case.

I haven’t dismissed it, I’m saying it’s bog standard functionality for a current account. 

I have or have had almost every current account going and I’ll open this one as well if LHV offers an incentive.

Theleak250

Apparently (I saw elsewhere) if you close your account you get banned like with Chase.