Estonian bank LHV Pank has entered into an agreement with Luminor, Danske Bank and secure payments provider Worldline to form a joint ATM network which will be served by LHV, replacing Danske Bank machines.
Danske is ceasing operations in Estonia this year in the wake of the money laundering allegations which fully came to light in 2018, and thus has to leave the Danske-Luminor joint network. Since LHV has already signed an agreement to acquire Danske's private client loan debt, ATM synchronization was the next logical step, ERR's online news in Estonian reports.
The move will boost the current number of LHV cash machines five-fold, from 25, to 125 ATM points. LHV is reportedly going to notify its customers separately once the ATMs are available for fee-less use. Luminor customers will continue to be able use all existing machines as before.
ATM points will thus be updated and upgraded for LHV usage, through the course of the summer, it is reported.
Editor: Andrew Whyte