Banking in Estonia requires that you know about the country’s financial system. Estonia is home to several banks, including both international and domestic commercial banks and consumer banks. These banks cover all banking needs, but a good knowledge of the banks of Estonia is necessary to successfully use the banking system.
Banks in Estonia can be easy to use, but you need to keep in mind special issues when you deal with them. It is also important to remember that foreigners involved in international banking in Estonia are subject to government regulations on foreign banking and business. People banking in Estonia from a distance can also take advantage of Estonia online banking.
Keep these points in mind when looking for Estonia banks:
1. Focus on banks in Estonia that will meet your specific needs.
2. Make sure you know the regulations for foreigners before getting involved in Estonia banking.
3. Compare the banks of Estonia to the right bank out of the many available.
4. Check out the many websites devoted to Estonia online banking.
Action Steps
The best contacts and resources to help you get it done
Find general information about banks and assets in Estonia
Information about banking and finances in Estonia is available from the Estonian government and from other sources. You can use this information to better decide what kind of bank you will need.
I recommend: Eesti Pank, the central bank of Estonia, gives information on the
Estonian monetary system,
comparative statistics for the Baltic countries, and news on Estonian finances and banking. The
Praxis Center for Policy Studies provides a detailed look at internet banking in Estonia, which includes an overview of the country’s whole banking system.
Compare banks in Estonia to know which bank will best suit your needs
Whether you use a domestic or an international bank in Estonia, you will find the best one for you by comparing the services offered by as many banks as possible.
I recommend: Worldwide-Tax.com has a list of the major Estonian banks, with a link to each bank’s website.
Hansabank, a Sweden-based bank operating in Estonia, offers a wide range of business services, including
online banking and
opening an account.
Find out about restrictions on foreign banking and investing in Estonia
Estonia allows foreigners to bank but requires a great deal of documentation before you can bank in Estonia.
I recommend: Hansabank’s
international banking division provides guidelines about regulations on customers from different countries. The regulations for residents of EU countries are different than the regulations for others. The
US Department of State provides good general information about the Estonian economy, targeting that information at Americans with interests in Estonia.
Tips & Tactics
Helpful advice for making the most of this Guide
- The default language for websites devoted to Estonia online banking is usually Estonian, but most websites are also available in English. Don't worry if Estonian is the first language you see, as a link to the English site will be available.
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