To manage your finances effectively, having a bank account is essential. Opening a bank account in Finland is fairly easy and straightforward. It’s wise to compare the services and fees of various banks to find the best option that suits your needs.
Here are the steps you need to follow:
- Choose a bank. It’s a good idea to compare their services and fees to find the best fit for your needs. Also check if the bank has services in English.
- Usually you will be required to present at least the following documents:
- Passport or other official ID with a photo
- Certificate of employment / Certificate of scholarship
- Residence permit (non-EU citizens) or registration of residence (EU citizens)
- Proof of address (DVV registration)
- Work contract /Certificate of scholarship or grant
- Finnish personal ID number
- If you are applying for e-identification: Finnish ID card
- Visit the Bank: You need to go to the bank in person to open an account. While some banks offer the option to start the process online, you will still need to visit a branch to finalize it.
- Submit Your Documents: Provide the necessary documents to the bank representative. They will guide you through the rest of the process.
In Finland, strong electronic identification (e-identification) is essential for accessing various online services securely. In order to obtain e-identification, you need to obtain a Finnish ID card from the police. For more information on Finish ID card, please see the Police of Finland website: https://poliisi.fi/en/identity-card.
However, the requirements for e-identification are stricter than those for opening a bank account. Thus, in some cases, you cannot get online banking credentials even if you have a bank account.
Bank opening hours can vary slightly depending on the bank and location. Some branches might have extended hours or specific days with different timings, so it’s always a good idea to check with your local branch for the most accurate information.
Sometimes the opening of a Finnish bank can take some time. Then an online bank/neobank might be an option as a temporary solution. Do note, that neobanks do not offer e-identification, thus we recommend you to opean a Finnish bank account if possible.
When you have arrived in Finland, you can use most international pay cards in stores, banks and cash machines/ATM’s. Most stores and restaurants do accept cash, but cash free services are getting more common.
It's also good to know, that currency exchange in banks is limited and in several cities, currency exchange is no longer possible. Currency Exchange Offices are found at Helsinki airport and in city centers of larger cities.
In general, only the local currency Euro is accepted.