How to Open a Bank Account in Estonia? – 2026 Guide
How to Open a Bank Account in Estonia – 2026 Guide 💳
Opening a bank account is an important step for anyone planning to live, work, study, or do remote business in Estonia. Estonia is one of Europe’s most innovative countries with its digital government infrastructure and modern banking system. This guide will walk you through opening a bank account in Estonia, the required documents, and banking options with e-Residency, step by step. ✨
Why You Should Open a Bank Account in Estonia
Many daily and official transactions in Estonia are conducted through bank accounts:
Rent payments 🏠
Salary, freelance income, or business revenue 💰
Utility and subscription payments (electricity, internet, phone) 📶
Tax and e-Government transactions
Business setup and transactions under e-Residency
Having a bank account is especially useful for digital entrepreneurs, students, and long-term residents.
🏦 Types of Banks in Estonia
When choosing a bank in Estonia, there are three main options:
1. Traditional Banks (Branch Banks)
Banks like LHV, SEB, and Swedbank are widely used in Estonia.
Advantages:
Corporate and personal account options
Extensive ATM network
Business accounts and credit services
e-Residency compatible banking solutions
2. Digital / Online Banks
Platforms such as Wise, Revolut, and Paysera are popular among both local and international users.
Advantages:
Fully online applications
Low or zero account fees
Multi-currency support
Easy international transfers
3. e-Residency & International-Friendly Banks
Wise and LHV are the most commonly chosen banks by e-Residents.
📄 Required Documents to Open a Bank Account in Estonia
As of 2026, banks in Estonia may require the following documents:
Passport or ID
Estonian address or proof of residence (required by some banks)
Residence permit / visa (for non-EU citizens)
Estonian personal identification number (isikukood, if available)
Income or employment document (if needed)
Business documents for company accounts
👉 Digital banks generally allow account opening with fewer documents via remote verification.
🛠️ Step-by-Step Process to Open a Bank Account in Estonia
Bank selection – Choose a bank based on personal, business, or e-Residency needs.
Application – Apply online or schedule a branch appointment.
Identity verification – Complete verification at a branch, via video call, or with a digital ID.
Address / company details – Set up your card and account information.
Activate account – The account is active once verification is complete.
🇪🇪 What is Estonia e-Residency?
e-Residency is Estonia’s digital ID program. It allows you to:
Set up an EU-based company
Sign documents digitally
Access online banking and payment systems
e-Residency does not grant physical residence or citizenship but allows you to manage business and banking digitally.
Can You Open a Bank Account with e-Residency?
Yes, but there are some important considerations:
Many traditional banks require a physical meeting for the first application.
Digital platforms like Wise provide faster solutions.
Business accounts may require a detailed explanation of your business model.
⚠️ Things to Know Before Opening a Bank Account in Estonia
The account opening process for foreigners varies by bank.
Business accounts are reviewed more thoroughly than personal accounts.
English-language services are generally available.
Digital banks provide faster and more flexible solutions.
🚀 Sending Money to Estonia Without a Bank Account – kuikpara
You don’t need a bank account to send money to Estonia. With kuikpara:
“Send money to Estonia quickly and securely without a bank account.”
kuikpara Advantages:
Fast and secure transfers
Low-fee, transparent transactions
Real-time transfer tracking ✅
Easily send money from Turkey to individuals or business partners in Estonia.
📲 How to Use kuikpara
Download the app 📱 – Get kuikpara from the App Store or Google Play.
Create an account ✍️ – Sign up quickly using your phone number and email.
Verify your identity ✅ – Complete the verification step for secure transfers.
Load balance & send money 💸 – Instantly transfer money to a card, account, or individual for free.
❓ Frequently Asked Questions (FAQ)
How long does it take to open a bank account in Estonia?
Digital banks: usually a few minutes
Traditional banks: a few business days
Can I open a bank account with e-Residency?
Yes, but additional review may apply depending on the bank and account type.
Do I need a bank account to send money to Estonia from Turkey?
No, kuikpara allows fast and secure transfers without a bank account.