short-term exchange student (non-EU) bank accounts

mediashark · Post by **mediashark** » Fri Aug 15, 2014 1:25 pm

Hi everyone!

I'm an exchange student staying for the fall semester.

I was informed by my university's information brochure that I need my home country's bank's letter of recommendation in order to open a bank account. So I went down to my local bank today. When they said they needed the name of a Finnish bank I would like to open an account in so they can address the correct bank, I came home and looked up potential banks and got a bit lost.

I heard that Noreda seems to a popular choice, but after reading the forum customer service seems a bit mediocre at best, but I suppose this is similar for a lot of retail banks. Also seems that I have to wait 3 months for for a netbank account, and when I finally can get it, I'll be out of Finland by then in December.

The main services I need would be receiving international remittance and payment services, mainly for rent and internet, phone bills, misc. local services/shopping. Netbanking would be very nice but it's not the main thing I need.

I'm 29 so I don't think I will qualify for youth services.

Which bank should I open an account in and what are the plus and minuses?

**Sponsor:**

betelgeuse · Post by **betelgeuse** » Fri Aug 15, 2014 4:13 pm

mediashark wrote: I heard that Noreda seems to a popular choice, but after reading the forum customer service seems a bit mediocre at best, but I suppose this is similar for a lot of retail banks. Also seems that I have to wait 3 months for for a netbank account, and when I finally can get it, I'll be out of Finland by then in December.

Getting net banking immediately will be problematic in any bank unless you have income to show.

mediashark wrote: The main services I need would be receiving international remittance and payment services, mainly for rent and internet, phone bills, misc. local services/shopping. Netbanking would be very nice but it's not the main thing I need.

If you already have a SEPA account, you might be able to get away with just a foreign account (reference numbers in payment can be a problem).

mediashark wrote: Which bank should I open an account in and what are the plus and minuses?

Search old threads on this forum. I think only Nordea and Danske have all features in English. OP has some.

mediashark · Post by **mediashark** » Fri Aug 15, 2014 9:03 pm

I don't have a SEPA account.

HOAS would let me transfer rent monies directly to their bank account, but for everything else... there is only so much cash I can carry with me and for me to feel safe with it. And if I just keep drawing money from my home country's bank, all those transaction fees and the bank's exchange rate will quickly add up.

Looks like with my lack of language knowledge I'd have to stick to Noreda. I've been reading the threads but some are quite old and from what I read, rules can change.

foca · Post by **foca** » Fri Aug 15, 2014 11:31 pm

Banking services do bit differ much in Finland . Nordea as good as anything else. I got net bank there without any confirmed income or a Finnish Id. I would not advise on S bank , but the rest is more or less the same

mediashark · Post by **mediashark** » Wed Aug 20, 2014 8:13 am

Hi foca, how long was this ago when you opened an account? I read that it was only a recent rule (maybe 2-3 years ago) that you had to wait 3 months before getting netbanking.

Jean-Guy_Poutine · Post by **Jean-Guy_Poutine** » Thu Aug 21, 2014 11:31 am

Nordea seemed to be the most difficult to get a bank account with for non-eu Citizens. I heard from others that they put a 3 month wait on netbanking.

I got an account with Osuuspankki. They were easier to get an account with, and no wait on netbanking..... but you need a finnish id, which will take about 3 months anyways.

onlybo · Post by **onlybo** » Wed Aug 27, 2014 11:07 am

foca wrote:Banking services do bit differ much in Finland . Nordea as good as anything else. I got net bank there without any confirmed income or a Finnish Id. I would not advise on S bank , but the rest is more or less the same

Did you get the netbank from nordea without any income request?which city are you in?

mediashark · Post by **mediashark** » Sun Aug 31, 2014 10:39 pm

Jean-Guy_Poutine wrote:Nordea seemed to be the most difficult to get a bank account with for non-eu Citizens. I heard from others that they put a 3 month wait on netbanking.

I got an account with Osuuspankki. They were easier to get an account with, and no wait on netbanking..... but you need a finnish id, which will take about 3 months anyways.

I do have my residence permit already. Would it work for these purposes?

Looks like I'll shop around before i decide. So, Nordea, Danske, or OP I guess? Which bank has got your vote?

mediashark · Post by **mediashark** » Sun Sep 07, 2014 7:14 pm

I sent in my application late on a Thursday because the branch was understaffed (due to a flu bug apparently) but Nordea staff was very patient and sat down with me past opening hours to help open my account. They promised to call on Friday to inform me of the decision (because the supervisor had went home) but I didn't get the call. No netbanking for me since of the 3 month rule, but it's not the most important service I need.

Will find out on Monday.

Also, I just got a student handbook from Aalto and it had a section on banking matters; that netbanking is generally reserved for people who plan to stay for a year at least in Finland, and for students staying only for 6 months, OP is their best bet.

If it doesn't work out with Nordea, I'll take my business to OP.

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