Finland’s banking system is very advanced. As a foreigner, you should have no problem opening a Finnish bank account.
The three leading banks in Finland are Nordea, the OP Group, Danske Bank and S-Pankki, representing more than 80% of Finland’s banking services. There are other commercial banks in Finland as well as finance companies, mutual funds and life insurance companies.
Normal banking hours are from 09:15 until 16:15, though this can vary a lot between banks and different parts of the country.
It is usually fairly straightforward to open a bank account in Finland. Although you will generally find that at least one member of staff at the bank will speak some English, it is usually a good idea to take a Finnish-speaking friend with you in case your knowledge of the Finnish language is not sufficient.
One thing you should look out for before opening your Finnish bank account is what documents you will be required to present at the bank. This can often vary – even between different branches of the same bank. In most cases, you will be asked for any combination of the following documents:
Be sure to ask for the following services if you require them, as they may not be automatically granted to you:
Bank charges in Finland vary between banks but in general are fairly reasonable. It is worth checking which services are provided free of charge by each bank and making a decision based on your own needs and preferences.
These are the services you may or may not be charged for by a bank in Finland:
The Finnish population is reliant on Internet banking and online banking logins are used as a form of identification on many services online. It is generally a safe and secure way of carrying out a range of transactions and is particularly useful for paying bills without having to go to the bank.
Other services available through online banking include management of credit cards, loans, investments, pensions and insurance.
You do not need any special software to access your online banking account. All you need is an online banking agreement with your bank who will provide you with your customer number and access codes, as well as the web address you need to access the facility.
Most banks in Finland are able to offer online banking facility in Finnish, Swedish and English. You should check with each bank what the charges are for the use of online banking if there are any.