Estonia (EE)

Monthly fee: €0 (basic account) to €5.90/month (LHV Kaart premium)

Requirements: Estonian ID card or residence permit. Can apply online via LHV internet banking or app if you have ID card/Smart-ID. In-person at LHV branch for non-residents.

• + Most popular bank among Estonian startups, tech workers, and expats
• + Excellent English-language mobile app and internet banking
• + Free basic current account with Estonian IBAN
• + Strong business banking for OÜ — popular for startup founders
• + Good investment products (LHV fund platform)
• + Responds quickly to customer needs; good reputation among expats
• + LHV Growth Account (kasvukonto) for investing

• - Branches only in major Estonian cities — limited physical presence outside Tallinn; most banking is fully digital via ID card/Smart-ID
• - Some services require Estonian language — language-switched interfaces may not cover all features; some documents issued in Estonian only
• - Not part of a Nordic banking group — smaller international network than Swedbank or SEB; fewer correspondent banking relationships for non-SEPA corridors
• - International SWIFT fees for non-SEPA/EEA transfers: €15–30 per outbound wire — Wise is significantly cheaper for remittances outside EU/EEA

Monthly fee: €0–3.50/month

Requirements: Estonian ID card or residence permit. Online or in-person at branch.

• + Largest bank in Estonia by number of customers
• + Part of Nordic Swedbank group — useful for those with connections to Sweden/Finland
• + English-language app available
• + Wide ATM network
• + Good mortgage and home loan products
• + Solid reputation and stability

• - Interface primarily in Estonian — Swedish/English available but some menus and documents default to Estonian; not fully bilingual throughout
• - Less startup-friendly than LHV — more traditional banking focus; fewer features tailored to Estonia's tech community and freelancers
• - ATM fees from non-Swedbank ATMs — third-party ATM withdrawal charges apply; only Swedbank-branded ATMs are free for cardholders
• - International SWIFT fees for non-SEPA/EEA transfers: €15–30 per outbound wire — Wise is significantly cheaper for remittances outside EU/EEA

Monthly fee: €0–3/month

Requirements: Estonian ID card or residence permit. Apply online or in person.

• + Part of Swedish SEB group — strong international connectivity
• + Good for cross-border transactions to Baltic states and Scandinavia
• + Reliable and stable
• + English internet banking available

• - Less innovative than LHV — fewer fintech-oriented features and slower product iteration than Estonia's leading startup-focused bank
• - Physical branches fewer than Swedbank — smaller branch footprint in Estonia; primarily located in Tallinn and larger cities
• - Not as startup-focused — SEB's product suite more traditional; less suited to freelancers, OÜ founders, and digital nomads common in the Estonian tech scene
• - International SWIFT fees for non-SEPA/EEA transfers: €15–30 per outbound wire — Wise is significantly cheaper for regular remittances outside EU/EEA

Monthly fee: €0–2/month

Requirements: Estonian ID card or residence permit.

• + Pan-Baltic bank (present in Estonia, Latvia, Lithuania)
• + Good for those working across the Baltic region
• + English-language services
• + Competitive fees

• - Fewer digital innovations than LHV — app and digital banking less feature-rich and less frequently updated than LHV or Swedbank equivalents
• - Smaller physical network — fewer branches across Estonia; limited convenience for any in-person banking needs outside Tallinn
• - International SWIFT fees for non-SEPA/EEA transfers: €15–30 per outbound wire — Wise is significantly cheaper for remittances outside the EU/EEA
• - Estonian ID card or residence permit required before account opening — foreigners cannot open account without valid Estonian residence documentation

Monthly fee: €0–2.50/month

Requirements: Estonian ID card. Good digital application process.

• + Genuinely Estonian cooperative bank
• + Low fees
• + Good for basic banking
• + Growing digital presence

• - Limited English support — primarily Estonian-language interface and customer service; not suitable as primary account for expats with limited Estonian
• - Less relevant for international transactions — limited international wire capability; not designed for cross-border payments or multi-currency needs
• - Not ideal for startup or international expat needs — product focus on domestic Estonian retail; missing many features important for expat or international users
• - International SWIFT fees for non-SEPA/EEA transfers: €15–30 per outbound wire — Wise is significantly cheaper for remittances outside EU/EEA

Monthly fee: €0 (basic) — account creation fee ~€7

Requirements: No Estonian ID required. Passport and selfie. Instantly available internationally.

• + FOUNDED in Estonia (by Estonians) — widely known and trusted here
• + Best international transfer rates globally — typically 0.35–1.5% vs 3–5% for banks
• + Estonian IBAN available (EE prefix) — can receive salary in some cases
• + Multi-currency account — hold EUR, GBP, USD, and 50+ currencies
• + Excellent for sending money abroad
• + Free for receiving EUR payments

• - Not a full Estonian bank — limited to transfer and payment functions; cannot replace LHV or Swedbank for full Estonian banking (salary IBAN, mortgages, local direct debits)
• - May not work for all Estonian direct debit purposes — some utilities and Estonian government services require a domestic bank account with EE IBAN
• - Customer service has capacity limits — support response times can be slow during high-demand periods; complex issues difficult to resolve quickly via chat
• - One-time account creation fee of ~€7 — free to hold after creation but initial setup incurs a small cost; confirm current fee at wise.com

Monthly fee: €0 (standard) to €9.99/month (premium)

Requirements: No Estonian ID required. Passport/ID and selfie. Instant setup.

• + Available immediately before Estonian ID card is issued
• + Good for travel and international payments
• + Budget tracking features
• + Stock and crypto trading

• - No Estonian IBAN in some configurations — Lithuanian IBAN (LT prefix) may not be accepted by all Estonian employers, landlords, or Estonian state institutions
• - Cannot always be used as primary salary account — some Estonian employers and payroll systems require a domestic EE IBAN for salary crediting
• - Customer service issues reported — support quality variable; complex account issues difficult to resolve quickly via app chat
• - Not covered by Estonian deposit guarantee scheme — Revolut Bank operates under Lithuanian banking licence; deposits guaranteed under Lithuania's DGS (€100,000 per depositor), not Estonia's