LHV
Estonian companies wanting a local bank, EE IBAN and deep accounting integration.
About LHV
LHV is an Estonian bank and a strong fit for companies that want a local banking relationship, an Estonian IBAN and close integration with Estonian accounting software. It is particularly relevant when the company has a real connection to Estonia and wants its bank and bookkeeping workflow to work closely together.
LHV Connect links bank data with accounting and business software, including Merit, SimplBooks, Standard Books, Directo, Envoice and other partners. Business users can be given separate internet-bank rights, which makes accountant access and internal finance controls practical.
For an Estonian company with non-resident ownership, LHV applies a separate non-resident price structure: the published account-opening application fee is €300 and the monthly fee is €30. E-residency by itself is not sufficient for account opening; LHV asks the company to demonstrate a clear connection to Estonia.
Key strengths
- Traditional Estonian bank with an EE IBAN and local banking infrastructure.
- Excellent accounting-software connectivity through LHV Connect.
- Supports separate business-user rights, making accountant and finance-team access straightforward.
- Strong fit for companies with substantive operations or business links in Estonia.
Key limitations
- Non-resident ownership can trigger a €300 application fee and €30 monthly fee.
- E-residency alone is not enough: the company must demonstrate a clear connection to Estonia.
- Less suitable for location-independent companies whose main need is inexpensive global multi-currency payments.
Location-independent e-resident companies with weak Estonia connection or founders who do not want to visit Estonia for non-resident onboarding.
How the account works
Finance workflow
Yes — business internet-bank user rights can be granted to multiple users.
Yes — accountant access and direct accounting-software workflows are supported.
Business user/signing rights are available; exact approval setup depends on representation rights and account configuration.
Yes
LHV Connect integrates with Merit, SimplBooks, Standard Books, Directo, SmartAccounts, Envoice and other finance systems / service providers.
How customer funds are protected
Traditional Estonian bank. Eligible deposits are protected under the applicable statutory deposit guarantee framework, subject to eligibility and limits.
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