Savings FAQs

To help you get to know our services, we’ve compiled the FAQs below

LHV Bank's savings accounts are available through either Flagstone or Raisin UK. Visit either Flagstone or Raisin UK’s platforms to learn more about our current product range to begin the account opening process.

All account operations can be managed directly with either Flagstone or Raisin UK, including accessing details such as interest rates, statements, and tax information.

Please make contact or log in to your account with either Flagstone or Raisin UK to manage your maturing account.

As either Flagstone or Raisin UK manage all operations of our savings accounts, they should be your first point of contact for any issues or complaints. You can follow their complaint procedure, which includes your right to refer to the Financial Ombudsman Service (FOS) if you believe that either Flagstone or Raisin UK has not dealt with your complaint appropriately.

Flagstone and Raisin UK will pass all complaints that are directly about LHV Bank to us, but if you wish to contact us directly in that situation, you can refer to our complaints procedure, which provides similar rights.

LHV Bank is a fully licenced UK bank specialising in Banking Services for global fintechs, tailored SME Lending solutions for UK businesses, and now, secure personal savings options for individuals.

Our SME Lending division supports the growth of small and medium-sized UK businesses with tailored solutions such as commercial real estate investment loans and trading loans between £5-10m.

As a banking partner of choice to more than 200 fintech firms, we provide a broad suite of services, including real-time multi-currency payments, accounts, acquiring, indirect scheme access, open banking, and FX solutions. Through our partnership with these fintechs, we're enabling smooth financial operations for over 10 million end customers across the UK and Europe.

LHV Bank is a subsidiary of the LHV Group, a NASDAQ Baltics-listed financial institution headquartered in Estonia. Serving nearly 400,000 clients, the group manages a portfolio exceeding £10 billion in financial assets. To learn more about our parent company, please visit LHV Group’s website.

Introduced on 6 April 2016, the Personal Savings Allowance allows basic rate taxpayers to earn tax-free interest up to the first £1,000. Higher-rate taxpayers have an allowance of £500, while additional-rate taxpayers do not receive an allowance.

LHV Bank Limited is unable to provide tax advice, and therefore recommends that you seek personal tax advice.

If you wish to make changes to your account, including withdrawals or account closure, please contact either Flagstone or Raisin UK directly. Please note that certain types of accounts, such as Notice or Fixed Term accounts, may have specific restrictions or requirements for withdrawals or closures. You can review the terms and conditions of your specific account on the Flagstone or Raisin UK platforms.

In the unfortunate event of an account holder’s death, or if you need to register a Power of Attorney, please contact either Flagstone or Raisin UK. Their team will guide you through the next steps and the process.

Yes, your deposits with LHV Bank through both Flagstone and Raisin UK are protected up to £85,000 under the Financial Services Compensation Scheme (FSCS). This means that individuals are able to claim up to £85,000 across all accounts held with LHV via both Flagstone and Raisin UK. Please be aware that if you hold a deposit with LHV through both Flagstone and Raisin UK, your deposits will be covered up to a maximum of £85,000. For joint account holders, the maximum that could be claimed would be £85,000 each (making a total of £170,000). You can find more information on the FSCS website.

Our savings account interest rates may vary based on market conditions and the type of savings product. For the most accurate and current interest rates, please visit the Flagstone or Raisin UK platforms.

The frequency of interest payment depends on the terms of the specific savings product, which could be monthly or annually. For detailed information, please refer to the product terms and conditions available on on either the Flagstone or Raisin UK platforms.

There are no hidden charges associated with opening or maintaining a savings account with LHV Bank through either Flagstone or Raisin UK.