Add organization

    What is included in a basic bank account in Finland?

    The services every deposit bank must offer under the law.

    Answered at: Checked at:

    Short answer

    The Financial Supervisory Authority describes basic banking services as a payment account with the means to use it. That covers depositing money, withdrawing cash in the European Economic Area and making payments, such as card payments, direct debits and credit transfers. Deposit banks must offer these services to consumers legally resident in the EU or EEA, at a reasonable price.

    Practical: communication, money, services

    Why

    1. FIN-FSA lists deposits, cash withdrawals in the EEA and payments as basic banking services.
    2. The obligation comes from the Credit Institutions Act (610/2014).
    3. FIN-FSA monitors how banks provide and price these services each year.

    Details

    Overdrafts and loans are not part of basic banking services. The bank must offer the basic services at a reasonable price.

    Tip

    Compare the monthly fees of several banks. Prices for the same basic services differ.

    What may differ

    Fees and the documents asked for differ from bank to bank. Ask the bank before your visit.

    Common misconception

    A basic account is only for Finnish citizens.

    What actually happens

    It is for all consumers legally resident in the EU or EEA.

    People also ask

    • Can foreigners open a bank account in Finland?
    • Can tourists use MobilePay?
    • How many ATMs are there in Finland?

    Sources

    This answer is for reference only. Banks set their own terms, so check the details with the bank before you act.

    Practical: communication, money, services
    Help