How to Open a Bank Account in Finland?

22.11.2024 1 Like 0 kommenttia

In this guide, student ambassador Anastasiia Lapteva will share information and tips on how to smoothly open a bank account in Finland.

It’s really important to get a bank account in Finland upon arrival. Not only does it enable you to use a credit card anywhere in Finland, but it’s also essential for verifying your identity on online public services. Having a bank account in Finland makes dealing with bureaucracy in Finland much easier. Especially for non-EU students, having a bank account in Finland is crucial. Opening a bank account might be a confusing and slow process. In this guide, I will share information and tips on how to smoothly open a bank account in Finland.

Choosing a bank

First, you need to choose the bank in which you would want to open a bank account. There are a lot of banks in Finland. The services these banks offer are similar, but they slightly vary in customer service, investments and savings, and customer benefits. Websites of each bank provide great information on services each bank has to offer. Here is a list of the most popular banks in Finland for international students with links to their websites:

• Nordea Bank
• OP Bank 
• DanskeBank 

Acquiring the documents

You also need to make sure that you have all the documents to be eligible to open a bank account. Most of the banks have similar requirements, but I recommend checking them from your chosen bank in advance.

Right of residence

For a student new to Finland, you have to have a document proving your right of residence in Finland. For example, a residence permit for non-EU citizens, or registration of the right of residence for EU citizens.

Personal identity number and municipality of residence

You should also have a Finnish personal identity number and municipality of residence in Finland. Both of these you have to get from the Digital Data service centre (DVV) upon your arrival to Finland. DVV website provides great instructions on how to register yourself in Finland. 

Finnish phone number

Upon arrival to Finland I would also recommend getting a Finnish phone number. Although it’s not always required, it makes it easier to deal with bureaucracy here. It is quite easy to get a prepaid SIM card at any R-Kioski, from service providers such as DNA, Telia and Saunalahti. A prepaid card is usually sufficient for living in Finland for an international student.

Opening bank account

When you have all the needed documents, you can finally start the process of opening a bank account. Usually banks require you to schedule an appointment, which you can do by calling the number indicated on their website. The bank will discuss the agreements and services with you, and make an application for your account. From my experience, quite often it takes 1-2 months to receive a card after you have submitted an application. Install the mobile bank application of your bank to keep track of your account.

Strong Electronic Verification

Once you have a bank account, I recommend getting strong electronic identification, or E-identification. Having E-identification enables you to use online public services without a problem. It makes it easier to, for example, use healthcare services, sign job agreements, and apply for residence permit renewal. It is possible to verify your identity on these services with identification from some other European countries, but having E-identification from a Finnish bank will help you in the long term. 

It’s best to ask from your bank what documents you will need for E-identification during your appointment when opening a bank account. The bank will give you the most accurate information about their requirements. Usually they require you to have a Finnish identity card, which you can apply for from a Police station. Read how to apply for an identity card from the Finnish Police website. 

Once you open your bank account and get E-identification, dealing with bureaucracy in Finland gets much easier. You can use online public services, and easily make everyday transactions. 

This blog is published in series with several other blog posts and a podcast episode about finances for an art student. Read about different aspects of student finances from links below:

• Guide to Finding a Great Job
• Budgeting Tips for Art Students
• Crafting Financial Stability: Investing for Artists