Which bank solutions are best for Estonian companies?
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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