The Single Euro Payment Area Instant (SEPA Instant) offers instant euro payments, while the Faster Payments system is responsible for instant pound transactions.

Although the Faster Payments service had been operational since May 2019, Pay.UK, the organization managing these payments in the UK, postponed its launch due to unresolved legal questions following Brexit and the expected separation from the common legal framework shared with Estonia.

To align with post-Brexit regulations, Estonia’s Credit Institutions Act was amended, allowing LHV to introduce pound payment services. These are now accessible to its clients.

In addition to real-time pound and euro payments, LHV’s customers can also utilize safeguarding accounts, Virtual IBANs, currency exchange options, liquidity management tools, as well as potential financing opportunities through the bank’s API, LHV Connect.

Available around the clock, every day of the year, including holidays, Faster Payments Domestic’s instant payment network facilitates near real-time pound transfers up to £250,000 per transaction. This service was established by UK banks with a goal to cut down the standard three-working-day payment times from the BACS system.

Faster Payments is designed for fintechs and financial intermediaries, enabling them to integrate real-time pound and instant euro payments via LHV Connect’s API. Through this platform, these entities can make domestic transfers both within the UK and across borders while also receiving an updated view of their account balances in real time.

LHV Group is a financial service provider based in Estonia with subsidiaries like LHV Pank and LHV Varahaldus. In 2018, it opened a branch in London to cater to the corporate clients of LHV’s financial intermediaries.