Payment Scheme Codes

CODE
DESCRIPTION

INTERNAL

Payment between accounts held at LHV Bank (UK).

GROUP

Payment between LHV Group entities, such as LHV Bank (UK) and LHV Pank (Estonia).

FAST

UK Faster Payment (FPS).

INST

SEPA Instant Credit Transfer

Used for initiating both RT1 and TIPS payments. In account reports, INST indicates an RT1 payment.

TIPS

TARGET Instant Payment

Cannot be used directly in payment initiation (INST should be used instead).

SEPA

SEPA Credit Transfer (standard SCT, processed via STEP2).

SWIFT

International payment via the SWIFT network.

BACS

UK BACS Credit payment.

BACSDD

UK BACS Direct Debit Payment.

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