Ministry of Finance opens account for payments at LHV

LHV Pank in Tallinn.
LHV Pank in Tallinn. Source: Martin Dremljuga/ERR

People in Estonia can now make payments and pay taxes, state fees and other money to the state via a Ministry of Finance and Tax and Customs Board (MTA) account at LHV Pank, the Ministry of Finance announced Thursday.

"We have established a State Treasury cash pool account at LHV Pank," said Ministry of Finance Deputy Secretary-General for Financial Policy and External Relations Märten Ross. "This will provide clients of the bank with the opportunity to make internal payments around the clock, as we want to make paying taxes and making other payments as simple as possible for everyone."

According to LHV Pank CEO Erki Kilu, paying taxes and making other payments to the state will now be significantly faster and easier.

"The opening of a State Treasury cash pool account for the Ministry of Finance and MTA is certainly a mark of quality for LHV Pank years in the making," Kilu said. "Getting the account to work required relatively complex technical groundwork on the part of both the State Treasury and the bank. LHV Pank has since earned an investment-grade credit rating from an international agency, allowing the State Treasury to hold money at the bank."

In addition to LHV, the Ministry of Finance also has cash pool accounts at Luminor, SEB and Swedbank.


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Editor: Aili Vahtla

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