Swedbank Everyday Account Swedbank Eesti
€0 /month
- Monthly Fee: €0/month
- Interest Rate: 0.00%
- ATM Fee: Free at Swedbank ATMs
Compare Bank Accounts in Estonia
Live offers across tracked providers in Estonia — updated daily from the Giraffy database.
Live offers
6 live offers compared from 6 providers, from €0 /month. Updated daily.
SEB Current Account SEB Estonia
€0 /month
- Monthly Fee: €0/month
- Interest Rate: 0.00%
- ATM Fee: Free at SEB ATMs
LHV Daily Account LHV Pank
€0 /month
- Monthly Fee: €0/month
- Interest Rate: 0.00%
- ATM Fee: Free at LHV ATMs
Coop Pank Current Account Coop Pank
€0 /month
- Monthly Fee: €0/month
- Interest Rate: 0.00%
- ATM Fee: Free
Luminor Daily Account Luminor Estonia
€0 /month
- Monthly Fee: €0/month
- Interest Rate: 0.00%
- ATM Fee: Free at Luminor ATMs
Revolut Standard Revolut
€0 /month
- Monthly Fee: €0/month
- Interest Rate: Savings vault rate
- ATM Fee: €200/mo free
What are bank accounts in Estonia?
A bank account (pangakonto) is the everyday current account used to receive income, pay bills and make card and transfer payments. Estonia is a world leader in digital banking, and current accounts are tightly integrated with the national e-identity system: opening, logging in and authorising payments all use Smart-ID or Mobiil-ID. Accounts come with a debit card, instant SEPA payments and full mobile and online banking.
Alongside traditional banks, app-based providers offer euro accounts, but a domestic bank account remains central because salary payments, state benefits and tax interactions flow through it.
How the Estonian market works
A handful of banks dominate: the Nordic majors, the leading domestic bank and a couple of smaller Estonian banks, plus pan-European fintechs. Basic current accounts are typically low-cost or free of monthly fees for everyday use, with charges mainly for premium packages or specific services.
Everything is digital-first — accounts open online in minutes, and physical branches are few. Instant SEPA transfers, direct debits for utilities, and seamless integration with the tax authority and e-government services are standard. Switching banks is straightforward, though changing the account tied to recurring payments takes some setup.
Benefits
Full digital banking — Open, manage and authorise everything online with Smart-ID or Mobiil-ID.
Free everyday use — Basic accounts usually carry no monthly fee for standard transactions.
Instant euro payments — Send and receive SEPA transfers within seconds.
e-Government integration — Accounts link seamlessly to tax, benefits and state e-services.
How to choose
Compare monthly fees, card costs and any charges for transfers or ATM use. Most everyday users can find a free or low-cost basic account, so focus on the app quality, customer service and whether you need extras like savings sweeps or multi-currency features.
If you receive a salary or state payments, a domestic bank account integrates best. Consider a fintech account as a secondary option for travel or budgeting, and check the deposit-guarantee status of the provider.
Leading providers in Estonia
Swedbank Eesti and SEB Estonia — The two largest Nordic-owned banks, with the widest customer bases.
LHV Pank — Estonia's leading domestic bank, praised for its app and service.
Coop Pank and Luminor Estonia — Smaller and regional banks; Revolut is a popular app-based alternative.
What it costs
Basic current accounts are generally free or very low cost, with no monthly fee for standard everyday banking and free SEPA transfers. Costs arise mainly from premium account packages, physical branch services, or non-euro card transactions. Debit cards are usually included. App-based accounts may charge for higher tiers or additional cards, so compare the total package.
Protections and regulation
Banks are licensed and supervised by Finantsinspektsioon, and deposits in licensed banks are protected by the Estonian Deposit Guarantee Scheme (Tagatisfond) up to 100,000 euros per depositor per bank. EU payment-services rules require strong customer authentication and protect against unauthorised transactions. Consumers have the right to a basic payment account, and complaints can be raised with the bank and escalated to the regulator.
Common questions
Are current accounts free? Basic everyday accounts are usually free or very low cost at Estonian banks.
Are my deposits protected? Yes — up to 100,000 euros per bank under the national guarantee scheme for licensed banks.
Do I need a domestic account? For salary, benefits and tax interactions a local bank account works best; fintechs suit everyday and travel spending.
The cheapest Bank Accounts in Estonia is €0 /month from Swedbank Eesti.
Bank Accounts in Estonia — FAQ
What documents do I need to open a bank account in Estonia?
Typical requirements are a government-issued photo ID (passport or national ID card) and proof of address (utility bill or bank statement dated within 3 months). Some banks in Estonia also require a proof of income or an employment letter. Digital-only banks often verify identity entirely via an app — no branch visit needed.
Can I open a bank account online without visiting a branch?
Many banks in Estonia now offer fully digital account opening via their app or website, completed in minutes. You'll upload your ID documents and in some cases do a short video verification. Traditional high-street banks may still require an in-person appointment for certain account types.
Are my deposits protected if a bank fails?
Yes — deposits may be protected by your country's deposit guarantee scheme. Check that your chosen bank is regulated by the local financial authority before depositing. If you hold more than the limit, spread balances across separate banking licences to keep everything covered.
What is the difference between a current account and a savings account?
A current account is for everyday spending — it comes with a debit card, direct debits, and a local bank identifier (sort code, IBAN, or BSB depending on your market). A savings account is designed to hold money you don't need immediately and usually pays a higher interest rate, but may limit the number of monthly withdrawals.
What is a challenger bank and is it safe?
Challenger banks are digital-first institutions — examples include Monzo, Revolut, and N26 across Europe, Chime and SoFi in the US, and neobanks like STC Pay in the Gulf. They're generally safe — most are regulated by the local financial authority and offer the same deposit protection as traditional banks — but check the specific licence before depositing large sums.
How long does it take to open a bank account?
Digital accounts typically open within 10–30 minutes once your identity is verified. Traditional bank accounts may take 1–5 working days after in-branch verification. International or business accounts sometimes take longer due to enhanced due diligence requirements.
Do bank accounts charge monthly fees?
Giraffy tracks 5 current account options across Swedbank Eesti,SEB Estonia,LHV Pank,Coop Pank,Luminor Estonia banks in Estonia. Many accounts are free; premium or packaged accounts charge a monthly fee and include benefits like travel insurance or breakdown cover. Filter by 'No Monthly Fee' to find free options.