To open a bank account, you are welcome to visit any branch of a bank. Opening of a bank account is free of charge for an European Union (including Norway, Iceland, Liechtenstein, Switzerland) resident. There is a fee for opening a bank account if you are not an EU resident.

In order to open a bank account, you need to have your passport or a notarized copy of your passport with you. In case your passport is currently at the Estonian Police and Border Guard Board for your visa or residence permit application, feel free to ask it back so you can run the necessary errands.

Please be aware that you can not open a bank account by yourself if you are younger than 18 years.

If you are a student and wish to prove your status and receive benefits such as student discount you are advised to apply for an International Student Identity (ISIC) card. To receive an ISIC card you must open a bank account with Swedbank or SEB.

Be prepared that the decision to open an account may take 10 working days. Bank informs you about the decision via channel you have chosen – by phone or by e-mail. If the answer is positive the bank asks you to come to the same branch to open a bank account within 30 days from the notice. Please take the original document with you when you go to apply for the account – for instance residence permit card, employment contract, school certificate, marriage certificate.

When you open an account pay attention to the service fees and charges. Information about prices can be found at the website of each bank or in the bank offices.

LHV bank offers virtual ISIC card to prove your student status and score ISIC discounts. Unfortunately it cannot be used as a bank card. Students younger than 26 can order Youth Card to go with the ISIC card. Find more information here

ISIC cards for international students

On the website you can order ISIC Scholar and ISIC student cards, ITIC Teacher card and IYTC Youth Travel card. Find guidelines for ordering a card here

  • LHV Pank: Ülikooli 2a, opening hours: Mon-Fri 9-17

Opening an account is free of charge for students (both EU or non-EU citizens). Apply here.

  • Luminor Pank: Kaluri 2, opening hours: Mon-Fri 9-17
  • SEB Pank: Ülikooli 2, opening hours: Mon-Fri 9-17
  • Swedbank: Turu 1, opening hours: Mon-Fri 9-17 

Find more information on opening a bank account in Swedbank here.

  • Coop Pank: Ülikooli 4, opening hours: Mon-Fri 9-17

In addition to banks there are many different possibilities online and apps to make money transfers. Feel free to google for more information or ask your friends for recommendations and feedback.

PS! If you are a student and already have an IBAN (International Bank Account Number), then you won’t need to open a bank account in Estonia in order to be able to receive scholarships or any other kind of transactions from your university.