The official currency in Estonia is the Euro (EUR, €), as of 1 January 2011. The banking system complies with all international standards and the different cities have a network of different bank offices and automatic tellers. Credit cards are extensively used and are accepted in the majority of shops, restaurants, etc. If you are staying in Estonia for longer, it will be convenient for you to open a bank account in Estonia. Residents or non-residents can open current accounts in Euros or foreign currency. When opening an account, pay attention to the service fees and charges. Information about prices can be found at the webpages of each bank or from the bank offices. Usually you can open an account without an initial deposit. Both Euros and convertible foreign currencies can be held on Estonian bank accounts. All this can be done at any bank office.
Please be prepared that opening of an account may take 5-7 days. To open a bank account, please visit any branch of a bank. In most cases, you need take along:
Danske BankSee the price list. Opening of an account is free of charge for the citizens of the EU countries and to those holding a temporary /permanent residence permit of Estonia. To prove that you have the residence permit, take the residence permit card with you when visiting a bank office. Having Estonian ID code without the card is not sufficient.
The citizens of the non- EU and EEA countries need to pay 25 euros per month for holding their account at Danske Bank.Customer support: 6 800 800 and info [ät] danskebank.ee.
LHV Pank See the price list. Until 31.01.2016 opening a bank account is free of charge. As of 01.02.2016 opening of an account for citizens of non- EU and EEA countries costs 200€.
Customer support: 6 800 400 and info [ät] lhv.ee.
Nordea See the price list. Opening of an account for EU or Norwegian residents without Estonian ID-card/residence card costs 25 EUR. For the others opening costs 250 EUR. Customer Support: 6 283 300 and eesti [ät] nordea.com.
Swedbank See the price list.Opening of an account is free of charge for the citizens of the EU and EEA countries and to those holding a temporary or permanent residence permit.
For the others opening costs 200 EUR.
Customer Support: 6 310 310 and info [ät] swedbank.ee.
SEB Pank See the price list. Opening of an account is free of charge for the citizens of the EU and EEA countries and to those holding a temporary or permanent residence permit. To prove that you have the residence permit, take the residence permit card with you when visiting a bank office. Having Estonian ID code without the card is not sufficient.
For the others opening costs 250 EUR.
Customer Support: 6 655 100 and info [ät] seb.ee.
Upon opening your account, you will receive a debit card free of charge. There might be a small monthly maintenance fee (average cost €1). In Estonia and abroad, the debit card enables you to pay for goods and services and to withdraw cash from ATMs.
Transfers from abroad The quickest option for transferring money is an international payment order. For this the following information about the recipient is required:
In the European Union, IBAN codes are used for processing international payments.
Online banking in Estonia is the most used money transfer option, as internet banking is the simplest and cheapest way to make a payment. Most banks in Estonia provide online banking in English.
Mon-Fri 10-20, Sat 10-18,
Sun 10-16
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