Questions about Banking in Finland

mimibu · Post by **mimibu** » Thu Apr 21, 2016 1:59 am

Hello,

I am looking for move to Finland this summer to begin my studies as a Master's student. I had a few questions about banking in Finland.

1. what documents do I need to open a bank account in Finland?

2. what banks would you recommend for a student with a low budget?

3. is it possible to ask banks for a contract in English since I do not speak Finnish?

4. in France we can get renter's insurance through banks, is that possible in Finland, and what is recommended for a studio apartment?

Thank you everyone for you help!

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Rip · Post by **Rip** » Thu Apr 21, 2016 10:05 am

The experiences have varied so just some fairly general instructions and ideas.

In principle your passport should be enough, though you might find the local issued ID-card (from police) worthwhile (It's an ID that has your local ID number in it, which makes locals often happy. Also you don't need to carry your passport around so much). I think English language online banking is still offered only by Nordea, Danske and (to some extent OP). Most banks (including Nordea and Danske) offer a free package of basic services for young people/students.

If you have a French bank account with online access and attached credit or debit card (+ enough funds or income to it) you may actually manage quite well with that. The SEPA area actually seems to work quite OK with international bank transfers within eurozone.

JK_Ironak · Post by **JK_Ironak** » Thu Apr 21, 2016 10:22 am

Hey,

I visited banks last week. OP only makes account by appointment, I think you need to visit them first do get appointment set up -> my finnish husband tried to find a way to apply for that new customer appointment online, but didn't find it. First date they offered was more than a week later because waiting time for English appointment is long. You can take a Finnish friend with you to translate on a Finnish one, the waiting time is then maybe 1 day.

Then I went around the corner and made and account in Nordea, in English, no appointment needed. However, they said they needed a proof of address, along with some official ID. I had documents from my residence application, I think they also take rent agreement or any legal document that has your Finnish address on it. If you don't have that by the time you visit the bank, I'm not sure what they do. Also, I'm not sure how costs compare between banks.

betelgeuse · Post by **betelgeuse** » Thu Apr 21, 2016 1:54 pm

mimibu wrote: 3. is it possible to ask banks for a contract in English since I do not speak Finnish?

Yes for those that in general offer services in English (ones already mentioned).

mimibu wrote: 4. in France we can get renter's insurance through banks, is that possible in Finland, and what is recommended for a studio apartment?

It's possible. They do often broker for related insurance companies.

Rip wrote: If you have a French bank account with online access and attached credit or debit card (+ enough funds or income to it) you may actually manage quite well with that. The SEPA area actually seems to work quite OK with international bank transfers within eurozone.

Indeed. However, one should have a way to access the TUPAS (Finnish online identification system). The SIM card based system is not universally available yet so bank credentials are still the safest bet.

MinhChau010416 · Post by **MinhChau010416** » Thu Apr 21, 2016 9:35 pm

at least you take with you:
- id code
- residence permit

you should make appointment before you go to the bank

Rosamunda · Post by **Rosamunda** » Thu Apr 21, 2016 9:56 pm

Rip wrote: If you have a French bank account with online access and attached credit or debit card (+ enough funds or income to it) you may actually manage quite well with that. The SEPA area actually seems to work quite OK with international bank transfers within eurozone.

It works well inside Finland but - in my experience - French banks seem to struggle. Many don't have real "online" banking as such so it is impossible to do your own SEPA transfers from France to Finland - you have to phone/email the bank which takes for ever ('cos they are either at lunch, or closed (Mondays) or it's Wednesday and they are short-staffed).

Beep_Boop · Post by **Beep_Boop** » Thu Apr 21, 2016 10:09 pm

JK_Ironak wrote:You can take a Finnish friend with you to translate on a Finnish one, the waiting time is then maybe 1 day.

Before following this advice, make sure you ask the bank. Some banks, for example Aktia, don't accept a "Finnish friend" translating for you. They only accept a sworn interpreter.

JK_Ironak · Post by **JK_Ironak** » Thu Apr 21, 2016 10:58 pm

Beep_Boop wrote:
JK_Ironak wrote:You can take a Finnish friend with you to translate on a Finnish one, the waiting time is then maybe 1 day.
Before following this advice, make sure you ask the bank. Some banks, for example Aktia, don't accept a "Finnish friend" translating for you. They only accept a sworn interpreter.

Well, I was specifically talking about OP. But I guess they too might have difference between branches

However the bank teller said it is ok by the bank when we were trying to set my appointment.

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