How to open a bank account in Estonia as a non-resident

Planning a move to Estonia from the UK? The northern European country is becoming increasingly popular with expats, especially in its thriving capital of Tallinn - which is known as something of a tech hub.

In this guide, we’ll look at how to open a bank account in Estonia as a foreigner. We’ll cover everything you need to know, including what documents you’ll need and info on the most expat-friendly Estonian banks.

We’ll also show you a smart alternative to a bank account from the money services provider Wise - the Wise account. It lets you manage your money in 40+ currencies in Estonia, the UK and worldwide.

Over 14.8 million people worldwide use Wise to send, spend and convert money in pounds, euros and 40+ more currencies – for low, transparent fees* and at the mid-market exchange rate close to what you can see on Google. Plus, you’ll get dedicated support and volume discounts when sending large amounts.

➡️ Learn more about the Wise account

How to open a bank account in Estonia as a non-resident?

Opening a bank account in Estonia for non-residents is possible, but you may need to prove a connection to the country. For example, if you:¹

• Have a business in Estonia and have e-residency digital ID
• Work or study in Estonia
• Have a close family living in Estonia, such as a spouse, child or parent.

It’s important to remember that e-residency on its own may not be enough to make you eligible to open a bank account. You may need to also provide additional documents to prove your connection to Estonia.

Many Estonian banks have dedicated pages on their websites for non-resident applications. These give full instructions for how to apply and what documentation you’ll need.

📚 Estonia digital nomad visa

Do you need a bank account in Estonia?

It isn’t absolutely essential to have a local bank account in order to move to Estonia. It’s not a legal requirement either.

You may be able to manage without one for a time, and you can make use of international accounts in euros (EUR) or multi-currency solutions such as the Wise account to send, spend and receive money.

But you might find that day-to-day life in Estonia is more difficult if you don’t have any kind of local account.

Paying taxes, rent and bills can be more of a headache, as can getting a mortgage and getting paid if you’re working. Even things like signing up for a mobile phone contract can be more complicated without a bank account.

Can you use your UK bank account in Estonia?

Opening a new bank account in a foreign country can seem like a hassle. So you might be tempted to keep using your UK account while you’re away - but is it possible?

It all depends on who you bank with in the UK.

Major UK banks such as Barclays only let you keep your account when moving overseas if you’re only away for less than 6 months, or if you’re a UK Crown employee.²

Other banks such as Santander will service existing accounts when the holder moves abroad, but it isn’t possible to open a new one unless you’re a permanent UK resident.³

So if you’re a Santander customer, you should in theory be able to continue using your UK account once you move to Estonia. The only drawback is that the bank doesn’t operate there, so you may struggle with access to ATMs and branches.

Another important thing to bear in mind is the currency. If you’re using a UK bank account, it’ll likely be denominated in British pounds (GBP). You’ll be spending in euros (EUR) while in Estonia, so you could lose out when it comes to currency exchange.

So, it could be a better idea to close down your UK account and get a fresh start when you arrive overseas. Alternatively, you could look into UK banks such as HSBC which offer expat accounts.

📚 Best expat accounts

Can you open a bank account in Estonia as a British expat?

So can a foreigner open a bank account in Estonia, and does this include UK nationals?

The simple answer is yes, UK citizens can open accounts there. Estonia is known as one of Europe’s most expat-friendly countries when it comes to things like opening a bank account. This is one of the many reasons it’s such a good country to move to.

However, in order to be eligible, you may need to prove some connection to Estonia (such as a job, business or property) or sign up for e-residency. We’ll run through this in more detail shortly.

Can you open an Estonian bank account online as an expat from the UK?

It is possible to open an Estonian bank account online while still in the UK, but only if you have the right documents. Crucially, documents proving your connection to Estonia, such as a rental agreement for your new home there.

Depending on the bank, you’ll be able to submit an application form and upload your supporting documents online. In some cases though, a visit to a bank branch in person may be required to verify your identity or sign documents.⁴

Can you open an account as an international student?

A number of banks in Estonia offer dedicated student accounts, many of which have reduced or no fees.

Good options to check out include Swedbank packages for young people and students, and the LHV student bank account.

You’ll need a temporary residence permit, otherwise fees may apply for the process of opening a non-resident student account.⁵

What documents do you need to open a bank account in Estonia?

To open your new bank account in Estonia, you’ll usually need the following:⁶

• Proof of ID
• Proof of address
• Estonian e-residency documents (if you’re a business owner applying from abroad)
• Proof of your connection to Estonia (for non-residents and non-citizens).

Proof of ID

Your UK passport is an ideal form of photo ID to verify your identity, but you can also use a European national ID card if you have one.

Proof of address

If you’re applying for your bank account from inside Estonia and you live there, you’ll need to provide proof of your residential address. A recent utility bill, rental or mortgage statement should suffice.

Estonian e-residency documents (if you’re a business owner applying from abroad)

If you’re not living in Estonia but want to open a business there, and a business bank account, you can use the e-residency scheme.

It’s a government-backed programme which lets you create an e-⁠residency Digital ID in order to start a business in Estonia. You can stay living in the UK or elsewhere in the world, but run a business and have a business bank account in Estonia. Find out more about it here.

This scheme is only for foreign entrepreneurs though. You can’t apply for e-residency if you simply plan to move to Estonia or work there.

However, e-residency on its own may not be enough to make you eligible to open a bank account. Depending on the bank, you may need to also provide additional documents to prove your connection to Estonia.

📚 Estonian e-residency

Proof of your connection to Estonia (for non-residents and non-citizens)

If you want to apply for your new Estonian bank account before you move there, or from outside the country, you’ll need to provide proof of your connection to Estonia.

Examples of acceptable documents include:⁶

• A signed residential lease agreement
• A signed employment contract
• A school or university enrollment certificate.

If you don’t have any of these things, you’ll need to wait until you move to Estonia and can provide proof of a local address.

Best Estonian bank accounts for expats

With your documents ready, it’s time to start researching Estonian banks. There are many to choose from, and most are reasonably expat-friendly - some having websites and services in English.

A good place to start is with the country’s biggest banks, as these will be used to dealing with expats from all nations. Let’s run through a few of these below, along with the accounts they offer.

📚 Estonian banks

Luminor Bank

Formed as a joint venture between DNB Pank and Nordea, Luminor Bank is one of the largest banks in Estonia in terms of market share.

For everyday banking, the Luminor Debit card package is worth a look. It’s a debit card plus everyday banking services, available for a small monthly fee.

Swedbank

Part of the Swedish-owned Swedbank Group, Swedbank rivals Luminor for the position of Estonia’s biggest bank. It offers a wide range of financial services, for both personal customers and businesses.

If you open a current account at Swedbank, you’ll get a debit card, online/mobile banking and access to the bank’s payment plan.

SEB Pank

Another Swedish bank, SEB Pank is a universal bank offering a full range of accounts and services in Estonia.

A popular choice for personal customers is its Current Account, ideal for daily banking. There’s also the option to sign up for a service plan, bundling together services such as cards, payments and more in one package - for a single monthly fee.

LHV Pank

An Estonian-owned bank, LHV was founded in 1999 as an investment company. Today, it provides both personal and business banking, along with other financial services.

You can sign up online for LHV’s digital bank account, which offers free European payments and can be linked to a debit card. The account can be managed on the move via mobile banking app.

Handy to know - there’s an English version of the LHV website.

Coop Pank

Coop Pank is an Estonian cooperative bank. It focuses on offering straightforward banking products for everyday money management.

If you’re after daily banking services, you can choose from one of two banking plans at Coop Pank. This includes the free Basic plan, and the Useful plan which comes with a fee and an increasing list of features, perks and increased limits.

Other banks and alternatives worth looking into

Estonia, and especially its capital city of Tallinn, is known as a burgeoning tech hub. So it's no surprise that it has a number of fintechs, money apps and digital bank accounts available.

If you’re looking for an alternative way to manage your money in Estonia, here are a couple of your options:

• Revolut - an all-in-one finance app with a debit card and banking services.
• Bunq - a mobile-first bank licensed in the Netherlands offering personal and business accounts to customers across the EEA.
• N26 - a digital neobank offering an app-based current account and a choice of monthly plans

You can also check out non-bank alternatives, which don’t have a banking licence but offer services such as accounts, payments and cards.

This includes the money services provider Wise, which has a multi-currency account, international debit card, transfer services and app available to use in Estonia.

What are the banking fees and costs in Estonia?

Like many bank accounts in Europe and here in the UK, your new Estonian bank account may come with some fees and charges. This includes fees for money transfers, debit cards and monthly maintenance fees.

These vary between banks, but take a look below for a rough idea of what costs to expect:

Is there a free Estonian bank account for non-residents?

If you don’t live in Estonia but are eligible for a bank account, it’s likely that you’ll have to pay a fee of around €250 EUR just to apply for an account. The monthly fees to maintain it may also be higher for non-residents.⁷

However, there are some accounts in Estonia that have no monthly fees (although other charges may apply). An example is LHV, whose bank accounts have no monthly fees - but only for residents of Estonia.⁸

Students and young people can also benefit from fee-free accounts.

Wise – An international alternative to a bank account

After reading this, you should have a better idea of how opening a bank account in Estonia works for UK expats.

But there are also some great alternatives out there, which could be better for managing your money in multiple currencies or sending transfers back home to the UK.

Open a Wise account and you’ll only pay a small, transparent fee to send money in 40+ currencies (including EUR and GBP). Better still, you’ll get the mid-market exchange rate for all of your foreign currency transactions.

Here are some of the benefits for using Wise to send money:

• Fast and easy setup with no physical paperwork
• Fully trackable transfers
• Fast transfer times
• Two-factor authentication and real-time notifications
• Dedicated support for large sum transfers
• Low, upfront, transparent fees*

You can also get a Wise card for a one-time fee of just £7 and use it to spend in Estonia and 150+ countries worldwide. There are no hidden fees, and you can even connect your Wise card to digital wallets like Google Pay or Apple Pay.

Open your Wise account 🌍

Open a Wise Business account online

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Sources used:

1. Tallinn Migration Centre - eligibility and connection to Estonia
2. Barclays - living or moving outside the UK
3. Santander - Brexit and Santander
4. LHV - need to visit a branch in person
5. Tallinn University - banking in Estonia
6. N26 - documents needed
7. SEB - SEB pricing
8. LHV - LHV pricing

Sources last checked on date: 23-Mar-2026