Saving account and alternatives

[Rip]

(This is late for the OP of course)
Handelsbanken's "Säästötili" is probably one of the better options (2% interest currently irrespective of the balance, 12 free withdrawals/ year). Note, you can only withdraw money by personally visiting a bank office. Thye have also one of the few free basic "every-day" usage accounts (with online banking and bank card) available - using the online service requires decent understanding of either Finnish or Swedish (they don't seem to have anything on their web page in English).

As for money market funds, i have used Seligson's (http://www.seligson.fi/english/funds.htm, http://www.seligson.fi/suomi/rahastot/k ... rkkina.htm) 'AAA' money market fund. They have stated policy of avoiding anything risky or exotic, which has served them especially well during the last year. Also lower fees than most (possibly all) competitors.

[dampa]

Banks I would want to stay away from: OP, Nordea & maybe Sampo. Check Aktia(Optia), Handelsbanken or S-Pankki

Why? Can you elaborate, please?

Loads of experiences with these banks but I will mention some here

Nordea
- one of the worst rates on käyttötili and säästötili.
- unfriendly customer service.
- hidden charges here and there.
- when I had investment accounts with them, buying stocks wasnt an easy ride with these people.
- some products are tailored only to the Finns or lets say Finnish speaking and understanding Some products are missing from English Netbank but on the Finnish one.

Sampo
- one of the worst rates on käyttötili and säästötili
- other charges are too high in my own opinion (plus recent package prices )
- bad customer service (used to take some checks from the US and UK there-each time, they treated me like some Mr.Terminator coming to rob them )
- Bank had huge problem way back and account was like locked with a super sized lock and keys thrown to the pacific ocean

OP
- this is hell...wont even bother getting a free euro from these guys even if the whole Finland picked one
- i had several fights with this bank since 2003. They told me I can not open an account with them because I am a foreigner [even savings or investment account] then I went to another branch in 2005 and opened account successfully.
- Useless hidden charges came and was not impressed.
- I was told I can not use or operate my account in another city for example Kuopio Osuuspankki because I opened it and I am a customer of Helsinki OP
- When shopping around for asuntolaina, this is the only bank in Finland that said that I can not book time to discuss about asuntolaina because I was a foreigner Holly Mary!!

I need to add this. We were once driving to Ruka with the family and we decided to stop using the Plussa MasterCard that was marketed to wifey sometimes back. On our way, we stopped at Kajaani's OP to drop the card and see the city. To our biggest surprise, they wouldn't accept the card either. The excuse, Kajaani's OP is different from the other OPs in Finland. We have to call the main OP's customer service to arrange the drop. What a miserable konserni Never again OP



Together with Rip's post above, Handelsbanken's "Säästötili gives a nice korko for your savings. S-pankki also promises and gives nice korko on käyttö and säästotilit. S-pankki is also offering free visa card and internet banking. I stated optia because when we were shopping for asuntolaina, they gave they best offer, willing to reduce the margin and customer service was friendly and not pushy. Card options are not as many as other banks but if you want Electrion and Visa, they are fine. I have visa cards and savings with S-pankki, savings with Handelbanken too.

@Optia/Aktia, I can call or email the woman assigned to our household's finances and discuss bank matters with her without too much problems. That is, they tend to concentrate & notice on their customers. Probably one of Finland's best. Buying stocks through optia isnt the cheapest option available though

Check here for more info on rates Säästötilit and Käyttötiilit


iliad shouldnt have problems buying EONIA etfs and all other etfs, stocks, Warrants, e.t.c by making use of Nordnet's superb service and cheap charges. You have to be able to understand Finnish though

you can also get kuntaobligaatio and valtion obligaatiot. Valtion Tuotto-obligaatiot, (one is available now) That is, borrowing Finnish state some money

[interleukin]

OP
- this is hell...wont even bother getting a free euro from these guys even if the whole Finland picked one
- i had several fights with this bank since 2003. They told me I can not open an account with them because I am a foreigner [even savings or investment account] then I went to another branch in 2005 and opened account successfully.
- Useless hidden charges came and was not impressed.
- I was told I can not use or operate my account in another city for example Kuopio Osuuspankki because I opened it and I am a customer of Helsinki OP
- When shopping around for asuntolaina, this is the only bank in Finland that said that I can not book time to discuss about asuntolaina because I was a foreigner Holly Mary!!

I too am a foreigner and have always received great service from OP. I can go to any of their offices and get my errands done, not just the "home" office. I have insurance through Pohjola, meaning that I never pay more than a few euros for any services (you get discounts if you have more than just your banking there). When I called to ask about insurance, the lady I talked to asked if I would like to be contacted about any banking questions I might have, or if I would like to book a time for a consultation about the general status of my finances.
When I was still living abroad, I sent an email to them, asking about their services. The email was in Swedish, and half an hour later I got a telephone call by a native Swedish speaker, working at OP, calling to answer all my questions.
I am not saying OP are perfect, but I think the bad experiences of the previous poster should be balanced by more positive info.

[dampa]

Another reason why one should stay away from Nordea, Sampo & OP in this tough financial situation. Charges are kind of high

@ interleukin, that was my experience with OP. Maybe the OP, I had account with was another one from yours, but that was just my own experience with them and I promised myself never to touch anything the Pohjola-konserni is dancing with especially their Pohjola Pankki Oyj. I heard the konserni was re-organised though...

[Tiwaz]

What you do not understand, dampa, is that each OP is essentially semi-independent part of whole. As you can see with differences on Suupohjan OP and HKI OP in your chart.

Besides, you not being given account as foreigner is not somehow unreasonable. Did you actually have Social Security Number? Hmm?

If not, you are high risk for the bank. Because over here things are done by your magic number, not with gasbill.

One should notice that OP is one of the most stable and well funded banks out there in Finland. They are not going to twist and bend in the economical turmoils nearly as badly as most others. It has size and money to keep itself up and running.

Oh yeah, and OP/Pohjola thingy is pure gold. I haven't paid a single cent for any of my bank costs ever. Because... I bought the membership and got enough money, or debt, in OP to cover my costs.

Though my opinion is highly coloured by my position having good connections to my OP (which is actually on opposite side of Finland from where I live). Small OP offices with familiar faces who know you and people who live near you tend to be grand.

There is certain charm to hearing "Take coffee, I'll be right there. How is your mother doing?" in the bank. I admit being sentimental fool.

[dampa]

What you do not understand, dampa, is that each OP is essentially semi-independent part of whole. As you can see with differences on Suupohjan OP and HKI OP in your chart.

I do know this pretty well but I was told in Helsinki OP, that I can go to any OP in Finland for basic services and will be attended to. Just to drop off a card shouldnt be a problem for another OP to send it to the other. I can walk into any Optia/Aktia, Handelsbanken, Nordea, Sampo, or the new S-Pankki branch anywhere and have things done without some worker getting high on steriods except OP

Besides, you not being given account as foreigner is not somehow unreasonable. Did you actually have Social Security Number? Hmm?

If someone is asking me that now, all I can just do is I even showed those morons my driver's license, kela card and passport

[raamv]

Never been happier towards OP customer service and services available.
Being a foreigner was never an issue and we did not open it in Helsinki but in a suburb that we dont live in anymore..