Bank accounts in Finland

Finnish banks offer their customers a wide range of services. This page focuses on essential everyday banking services. You can get more information on other services direct from your bank.

Banking activities in Finland are supervised by the Financial Supervisory Authority. The Finnish Financial Ombudsman Bureau (FINE) advises customers in problems related to banking.

Banks have an obligation to provide basic banking services in an equal and non-discriminatory manner to all consumer customers legally resident in Finland. Basic banking services include a basic payment account and an associated means of payment, such as a debit card and online banking codes, the possibility to withdraw cash, making payment transactions and an electronic identification means. Basic banking services do not include, for example, credit accounts or various credit cards. Read more about basic banking services on the website of the Financial Supervisory Authority.

For a bank to be able to offer you a basic payment account and payment services associated with the account, the bank must be able to verify your identity reliably. The best way to verify your identity is with a valid passport or official ID card, which you must have with you when you visit the bank branch in person to open your account. 

Banks operating in Finland that offer everyday services and online banking codes are listed below.

Online banking codes are your electronic ID document, and when you use them it is equivalent to your signature. You can use your online banking codes to log into your online bank, but also for authentication for other service providers, including Kela and the Finnish Tax Administration as well as for paying online purchases. Your codes are meant for use by you only, and may not be transferred to another person. Read more on the page Electronic identification (e-ID) in Finland.

You can get bank codes by signing an agreement with your bank. Contact your bank for more information. To get online banking codes, you need to visit your bank branch in person. You need an ID document for authentication.

The bank may refuse to provide you with an electronic identification service if you do not have a personal identity code or if you are not registered in the population registration system. In these cases, the bank must offer a more limited electronic identification method, suitable only for the basic payment account and related services.

You can make payments denominated in euros in the same way and for the same price both in Finland and other SEPA countries, if the payment is made in euros. As well as the euro area countries, the Single Euro Payments Area (SEPA) includes the other EU and EEA countries, Switzerland and Great Britain. Enter the payee’s account number in IBAN format, then your bank will recognise the payment as a SEPA payment.

If you are going to receive money from abroad, make sure you provide your bank account details correctly. SEPA transfers require the payee’s account number in IBAN format and the payee’s Bank Identifier Code (BIC). You can check your IBAN account number on your statement, in your online bank or at your branch.

You can get more information from your bank.

As a rule, a home in another Nordic country cannot be used as security for a home loan granted by a Finnish bank. So if you are planning to take a home loan from a Finnish bank to buy a home in another Nordic country, contact your bank and ask if you can use the home you are buying in another Nordic country as security.

If you are buying a home in Finland and are planning to take a home loan from a foreign bank, you may not necessarily be able to use the home in Finland as security for a home loan from another Nordic country. Check this with your bank.

Read more about home loans in Finland on the website of the Finnish Competition and Consumer Authority.