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Which bank solutions are best for Estonian companies?

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Our Banking Solution Partner

We are partnering with Wise which makes it possible to get your very own international account in various currencies. Get your free foreign currency account together with a debit card quickly and easily online. Moreover, Wise allows you to pay share capital as well.

Banking Solutions Comparison

Banking Solutions Comparison

The table below provides you with a comparison of the top banking solutions among our customers.

WISE

Application Process

Online

Eligibility

- Officially registered business (need business registrations  documents);
- Physical address of the business owner.

Restrictions

All, except restricted industries; See restricted business categories from Wise Acceptable Use Policy
https://wise.com/acceptable-use-policy

Services and fees

- International payments — Depends on currency route and amount EUR/Unit
- SEPA payments — Depends on currency route and amount EUR/Unit
- Share capital contribution payments (and proof letter)
- IBAN provided
- BIC/Swift
- Debit/credit/pre-paid card — Free
- Business banking account opening — Free
- Business banking account fee — Free
- Local banking details for USA, UK, Euro, Singapore, Canada, Turkey, Hungary, Romania, Australia, and New Zealand (one-time setup fee, access to all of them) — 20 EUR


Wise pricing https://transferwise.com/gb/business/pricing-and-coverage
 

Wise protection scheme 
https://transferwise.com/help/11/getting-started/2949821/is-my-money-covered-by-a-financial-protection-scheme

LHV BANK

Application Process

Applicants must travel to Estonia to complete the process

Eligibility

- Freelancer, consultant, single-shareholder or strong business plan and entrepreneur background; 
- Use of service provider for application beneficial;
- e-Residency digital ID received; 
- PLC (OÜ) registered in Estonia; 
- Must have a strong connection to Estonia.

Restrictions

FATCA (American citizens); FATF high-risk countries

Services and fees

- International payments
- SEPA payments
- Share capital contribution payments (and proof letter)
- IBAN provided
- BIC/Swift
- Payment gateway
- Debit/credit/pre-paid card — debit card included in monthly fee EUR/Free
- Business banking account opening — 200 EUR
- Business banking account fee — 20 EUR/Month


LHV pricing https://www.lhv.ee/en/price-list#non-residents
LHV protection scheme https://www.lhv.ee/en/purchase-protection-insurance

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