30. April 2020
At the beginning of the year, LHV announced the option to open an account for your child without leaving home, via the Internet Bank. Doing so is now even more convenient for parents – you can open an account for your child via our mobile app.
LHV’s mobile app is constantly being updated, and a new function has been added, which means even more time saved for the client.
‘The option created at the start of the year – to open an account for your child via the Internet Bank, without ever having to visit a branch office – has now been added to the LHV mobile app. Since we see that LHV’s mobile app is growing in popularity and also serves as the main banking channel for many clients, this update is very welcome’, stated Margus Holland, Head of Digital Banking at LHV.
Opening a child's first bank account was once a relatively time-consuming undertaking. Valuing parents' time, LHV is offering an even simpler solution to help you take the first steps towards establishing your child's independence. This leaves parents with the opportunity to have an overview of their child's financial affairs until he or she reaches the age of majority.
A personal bank card can be ordered for a child starting from the age of seven, and the child can see his or her account balance in the mobile app and also use the ‘Ask for Money’ option.
A Child Account can be opened for a child who is under 18 years of age by a parent who is a client of LHV Pank and an Estonian citizen or resident. In order to open an account, you will need your child's valid ID-card, passport or residence permit card (to perform e-identification).
How do I open a child account via LHV’s mobile app?
• Enter LHV’s mobile app using your mobile-ID or Smart-ID
• On the front page of the app click on the ‘+’ icon located at the top right hand corner of the page and select ‘Child Account’ from the menu
• Conclude a Child Account Agreement
LHV’s mobile app will let you take care of money matters, even on the go: you can open an account in less than three minutes, order bank cards directly to your mailbox from the app, perform everyday banking operations, apply for a loan, trade shares, etc.
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank and LHV Varahaldus. LHV employs over 450 people. LHV’s banking services are used by nearly 217,000 clients, and pension funds managed by LHV have nearly 178,000 active clients.
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