Advices

ADVICE #144

How to open a Bank account in Estonia?

Opening a Bank account in Estonia for the non-resident has one, but serious difficulty. When submitting documents, the client must prove his connection with Estonia: availability of real estate, accommodation for relatives, business, education, etc. However, Bank staff will satisfy any suitable document, it is a necessary, but still a formality. If you come to the Bank at all "from the street", it is possible to open an account is likely to fail. In addition to the mentioned documents, only a passport is required.

In some banks the consideration of the application of the client even when there is sufficient evidence of ties to Estonia takes some time (up to 5 days) is this question in the selected Bank is better to clarify in advance. In other banks the account is opened in the customer's presence. All personnel in the banks in Estonia speak Russian, all banks have websites in the English language, so that communication with staff should arise.

In most banks open accounts for non-residents is made on a paid basis - from 22 Euro up to 200 Euro. The same applies to the cost of the service: it can be higher than for residents, however, found a "free" service account (with the fees for individual transactions). As in other countries, in Estonia, banks use tariff packages that include a certain set of operations and services, with a monthly payment.

You should be careful what services are included in the package. For example, the cost of the minimum package in one of the leading banks 19 Euro a year, but has only five payments per month, and the rest - for some money. An interesting feature is the presence of collective packages that can be used by several people (theoretically - family, but it is not a prerequisite). One person is responsible for payment of the package.

Эстония

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