To open a bank account for Finland in Europe, it is useful for people to compare the services and fees of different banks in order to find the most suitable option according to the transaction you will take. Previously, opening a bank account in Finland was difficult as you had to have Finnish documents. However, this started to get pretty easy over time.
Banks now accept other documents as well. Some of the documents you need to provide if you are an EU member to have a bank account .When opening a bank account, you must present your passport, foreign identity card or any other official identification document to the bank. If you do not have a passport or foreign identity card, it is useful to check in advance what type of identity document the bank accepts.
Some banks accept a foreign passport issued by the Finnish authorities or any other identity document that is considered an international travelling pass. When you open a bank account, the bank is required by law to ask you for an explanation as to what you will use that bank account for. The bank also has the authority to check your credit information. The bank will ask you for the following information:
- Name and surname
- Your ID number
- Your address in Finland or another European country
- If you are paying tax in another country other than Finland, your address in that other country
- The same information regarding other persons authorized to use the bank account.
Some Finnish Banks
Many Finnish banks have English-speaking employees. There are approximately 240 banks to choose from. The majority of them have online banking as well as well-connected branches and ATMs. The following are some banks where you might want to open an account.
- Holvi: Holvi Bank provides convenient products for businesses. The bank was established a few years ago. After acquiring the bank, BBVA is now providing excellent services to its customers.
- Aktia Bank: Aktia Bank is one of Finland’s oldest banks. It has been serving individuals and corporations for nearly 200 years. It has approximately 430 well-connected branches in Finland. Online banking for corporations and individuals is one of the services it provides to its clients. Their website, however, is not in English.
- Nordea Bank: With over 650 branches, Nordea Bank is one of Finland’s largest banks. It has millions of customers worldwide. They require that you take your time before calling them so that they can properly serve you. They have fantastic online banking.
- OP Bank: OP Bank is one of the largest banks, with over 200 branches and over 1.5 million customers. When you open a bank account, you automatically gain access to the Otto ATM Network. They offer their customers a wide range of products such as savings accounts, investment services, and retirement plans.
- Danske Bank: Danske Bank serves a wide range of personal and business needs for its customers. It has a special offer for students and teenagers known as the Danske Cash reward, which provides 84 Euros for free each year. They have numerous branches conveniently located throughout the country.
- Pankki: This bank is known throughout the country for being the most dependable in terms of loan issuance. It is distinguished by low rates and exceptional service quality. Many foreigners regard the Finnish bank Nordea as the most inhospitable and picky. In this context, the Osuuspankki credit institution appears to be much more loyal to foreign citizens.To open an account in Europe for Finland, any currency is accepted. It is not required to convert it to Euro.
In Europe, The Characteristics of a Basic Bank Account
A “basic payment bank account” is a checking account that covers everyday transactions such as:
- depositing funds
- Cheques and drafts are convenient payment and withdrawal methods offered by banks to their customers. It also causes bank money to circulate. This money is in the form of checks, drafts, and so on.
- receiving payments, and carrying them out (for example direct debits and card purchases)
- It should also include a payment card that can be used to withdraw money and make purchases both online and in stores.
- Customers can get Advances/Loans/Credit from it.
- A bank offers its customers a variety of banking services. They consist of general utility services as well as agency services.
- A bank can be a person, a firm, or a corporation. A banking company is a company that is in the banking business.
Access to online banking services should be included with your bank account, if available. They do not, however, always have to include an overdraft or credit facility.
Your bank may still charge you an annual fee for this basic payment bank account in some EU countries. This fee should be kept as low as possible.