Estonia’s largest domestic bank LHV partners with money transfer service TransferWise

Estonian banking and financial services company LHV which is Estonia’s largest domestic bank has been working together with UK money transfer service TransferWise to integrate into the LHV experience, on web and in the LHV App. You can send now send international payments directly from LHV, with no intermediary charges.

How does the LHV – TransferWise integration work?

If you’re already an LHV client, you can connect with TransferWise right away. If you’re on mobile, just make sure you’ve got the latest version of the app. The Partnership means the TransferWise experience is baked straight into LHV.

This is TransferWise’s first bank partnership, also marks the launch of its FinTech API. This means the firm will look to partner with additional modern banks, messaging applications, marketplaces, and mobile carriers to seamlessly integrate fair and transparent pricing into their core products.

Taavet Hinrikus, CEO of TransferWise: “LHV is the first bank in the world to provide TransferWise’s transparent and easy-to-use international money transfer services within their service portfolio. That means that its customers can save on the hidden charges that are so common in the industry. This partnership is a significant milestone for the whole financial sector.

We’re looking forward to being able to help our customers even more by developing integrated solutions with other services and products so that people can access the TransferWise experience through any application from messaging apps to e-wallets. We want to make it as convenient and easy as possible for people to transfer money internationally. ”

Andres Kitter, Head of Retail Banking at LHV:

“We’re happy to see our long-time friendship with TransferWise bear fruit as a new service to our customers. Starting today, TransferWise international money transfers are available for all LHV customers and anyone wanting to make an international transfer with TransferWise can try it out in the LHV online or mobile bank. The partnership between the two companies is a good example of modern open banking in which innovative services emerge through collaboration and relying on best practices.”

To read more about the partnership click here.

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