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How to Open a Payment Account Online in Finland

How to Open a Payment Account Online in Finland

Finland, known for its advanced financial sector, offers various types of accounts to cater to individuals, freelancers and businesses. Opening an account for digital banking in Finland grants you access to a robust financial system and a wide array of financial services. In this article, we will walk you through the hassle-free process of opening an account online in Finland. Let’s get going!

What Types of Accounts are Available in Finland?

In Finland, you can find a range of accounts tailored to different needs. Whether you’re an individual or a business, you can choose from options such as personal current accounts, freelancer accounts, business accounts, merchant accounts and more. Each type of account comes with its own set of features and benefits catering to specific requirements, allowing you to manage your finances effectively.

What Documents are Required to Open an Account in Finland for Foreigners?

When opening an account in Finland as a foreigner, you will typically need the following documents:

  • Valid Identification: Provide a valid passport or national ID card as proof of your identity.
  • Proof of Address: Submit a recent utility bill, bank statement, or any official document that confirms your residential address in Finland.
  • Residence Permit: Non-EU residents may need to provide a valid residence permit or other relevant immigration documents.
  • Employment/Student status confirmation or Income Details: Depending on the financial institution, you may be required to provide information about your employment/student status or the source of your income.

Please note that specific document requirements may vary between digital providers, so it’s advisable to check with your chosen fintech company / financial institution for their exact documentation requirements by reaching out via phone or email.

What are the Common Challenges Faced When Opening an Account for Non-EU Residents?

Non-EU residents may encounter certain challenges when opening an account for online banking in Finland. Some common challenges include:

  • Limited Access: Some financial institutions in Finland may have stricter policies and requirements for non-EU residents, making it more difficult to open an account.
  • Language Barrier: The language barrier can sometimes make it challenging for non-EU residents to navigate through the account opening process, especially if the digital banking provider’s services and documentation are primarily in Finnish.
  • Proof of Address: Typically proof of address in Finland is required, which can be difficult for non-EU residents who have recently relocated or do not have a permanent address.

Which Countries are Blacklisted for Opening an Account in Finland?

Finland, like many other countries, has specific regulations regarding financial relationships with certain countries. While it is advisable to check with individual institutions for their policies, there are typically restrictions or additional scrutiny when opening accounts for individuals or businesses from countries on the blacklist. These restrictions aim to prevent money laundering and other financial crimes and can be easily found both on the financial services provider’s website and in other sources on the web.

A Faster and Simpler Way to Get an Account in Finland

For a faster and simpler current account opening experience, consider using European digital-only banking providers or electronic money institutions (EMIs) like With, you can open an account online in Finland, eliminating the need for branch visits and paperwork. A user-friendly platform and streamlined processes make it simple for both residents and non-residents to access Finland’s robust financial system and a wide range of financial services.

It’s essential to gather the required documents and precisely follow the account opening procedures. To delve deeper into the process of remotely opening a European account, please explore our website at By obtaining a unique European IBAN and Mastercard payment cards, you’ll gain seamless access to a global, borderless payment infrastructure, regardless of your location on the globe. Simplify your money management experience and explore the possibilities of efficient online banking in Finland today!

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