After charging 300€ and then decline e-residence people thats good buisness for nothing Waste off time and money

⭐ 1 Star – Deeply disappointing, opaque, and disrespectful to e-Residents LHV Pank rejected the account opening application for my new company without providing any concrete, verifiable, or business-specific reasons. Instead of transparency, I received only generic references to internal “risk appetite,” general terms, and legal clauses. For entrepreneurs—especially Estonian e-Residents—this approach is unacceptable and undermines trust in the entire process. What is particularly troubling is the strong impression that applicants are not assessed purely on objective facts, but rather on personal background, origin, or subjective profiling. All required documents were submitted, the business model was clearly explained, and full cooperation was provided at every step. Nevertheless, the application was rejected without any opportunity for clarification, correction, or additional explanation. To make matters worse, I traveled specifically to Tallinn to support the account opening in person. This involved considerable time, travel costs, and effort, undertaken in good faith to work transparently with an Estonian bank. That personal commitment was completely disregarded and ultimately meaningless in the decision-making process. The most alarming part of this experience is the mandatory upfront fee of approximately EUR 300, which must be paid merely to apply. This fee is kept by the bank regardless of approval or rejection, even when the rejection comes without a clear or individualized justification. This does not feel like a legitimate service fee, but rather like a systematic monetization of e-Residents, many of whom have limited alternatives and are dependent on Estonian banking access. LHV markets itself as a modern, internationally oriented bank that supports startups and entrepreneurs. The reality, however, is an opaque, one-sided, and dismissive process that offers neither transparency nor fairness, while placing all financial risk on the applicant. Summary: - ❌ No transparency - ❌ No fair or individualized assessment - ❌ High non-refundable fees without meaningful service - ❌ Time, travel, and effort completely ignored For e-Residents and international founders, this bank is not recommendable. The overall impression is not one of partnership or support, but of a profit-driven system that benefits from applications regardless of outcome.

Dear Non-residents who seek to open a bank account that your company registration in Estonia doesn't count as one of the documents the bank consider to open an account for you. I have read over and over the application process and I didn't find anything in relation to not accepting the company registry, where it says clearly, Non-residents to provide one of these documents: - signed residential lease agreement - signed employment contract - certificate from an educational institution regarding enrolment - document substantiating connection to enterprise I believe the first three documents most likely are irrelevant to who is non-resident in Estonia to have any of them, last one which is the point of argument should be paraphrased again to clarify what does mean (document substantiating connection to enterprise} if company registry isn't consider it. This practice raises concerns about: - Misleading eligibility criteria – Non-residents are encouraged to apply without clear disclosure that rejection is likely. - Lack of transparency – Other Estonian banks clearly state their residency requirements upfront, preventing non-residents from applying if they don’t meet the conditions.

After charging Euro 300, they declined the application without any proper reason. I specifically came to Estonia to open the account so that I am identified by them with physical verification however after doing everything possible and paying fees (Euro 300), they declined the next day. No update on refund also. Seems like a good way for them to earn money. If they are genuine, they should take fees after account approval only

I am highly satisfied of LHV services for the personal usage. But with business account there a lot of problems. Please keep in mind that 300EUR it is not the price of “Business banking account opening”, it is a price of “Application for business banking account opening”, which you must pay just to apply. And if they decline your application they will not return your 300EUR.