If you discover a transaction you didn’t make or one involving an unknown service provider, close your card and inform us immediately.
You can do this in the Internet bank or app, or by calling 669 0966at any time.
To challenge a transaction, submit an application to us in the Internet bank or app, or at any bank office.
First, close your card immediately. If you think there’s a chance you’ll find it, you can opt to block it temporarily. To close or block your card, log into the Internet bank or mobile app or call us on 669 0966 (available 24/7).
You can check and, if necessary, change your card limits in either the Internet bank or app.
In addition to your cash limits and payment for purchases, you can also set a limit on your contactless payments (up to €50) and switch off the option to make online payments.
If you set limits on your card, bear in mind that they should be as low as possible and that you only enable the functions you use on a daily basis. That way you’ll always be as protected as you can be against card fraud. If necessary, you can amend your limits quickly and easily in our app.
With a Coop Pank card you can withdraw cash from any bank’s ATM and from the more than 300 Coop stores around Estonia.
Cash deposits can be made with a physical Coop Pank card at any Coop store. Deposits can’t be made with a virtual card.
You can check your card’s PIN at any time in the Internet bank or app, and there’s no limit on how many times you can check it.
Viewing your PIN is entirely safe, since you’ll be asked to identify yourself again using biometrics or another means of authentication.
Note that you can only change a physical card’s PIN at ATMs whose operators enable this. You can’t change a virtual card’s PIN.
Factoring is suited to companies with regular invoice-based sales and reliable buyers.
The company gets its money as soon as an invoice is submitted, improving liquidity and allowing for more rapid growth.
Yes – you must have a current account in Coop Pank if you want to use factoring.
Your application should be submitted to Coop Pank along with the details of your company and buyers. We’ll then assess the risks and make a decision regarding limits.
Yes – export invoices (i.e. foreign buyers) are also accepted.
Credit insurance is not required if the buyer is solvent and reliable. However, if the buyer’s payment risk cannot be assessed, we recommend using credit insurance provided by insurance companies.
The minimum is 100,000 euros.
Applications can be submitted by companies registered in Estonia and by self-employed people with a stable and sufficient cash flow.
The minimum is 50,000 euros.
Via the Coop Pank website, you’ll need to submit your application along with an explanation of the purpose of the loan, financial statements for your company and any other necessary documents proving your company’s ability to repay the loan.
Yes – in most cases you will need property as collateral, with a mortgage being established on the property.
Depending on the project, a commercial pledge on your company’s assets or guarantees from another company may be required as collateral.
In certain cases you can also secure the loan with a guarantee from EIS (the Estonian Business and Innovation Agency, formerly KredEx) or Maaelu Edendamise SA (the Rural Enterprise Foundation).
It usually takes 3-5 working days to process an application, depending on the type of loan and how thorough the documents are that were submitted.
No – unfortunately, Coop Pank is unable to grant business loans to new companies. In order to apply, a company must have been operating for at least two financial years. However, You may explore the possibilities of our small loan for starting enterpreneurs.
In order to open a term deposit in Coop Pank, you have to have a current account with us. Deposits can be opened in our Internet bank or mobile app, or at the bank office.
You can also open a deposit with a future date. This means that the full amount to be transferred to the deposit must be in your current account on the starting date of the deposit.
Term deposits can be opened for anywhere from 1-120 months, i.e. up to 10 years.
The deposit’s interest rates are calculated on an annual basis. For example, if the annual interest rate is 4%, then the rate for a six-month deposit is 2%: if you deposit €1000 for 12 months at 4%, you’ll earn €40 interest, but for six months you’ll earn half that, i.e. €20.
Note that if you opt for monthly interest payments, the interest rate on the deposit is 0.05% lower.
Provided the deposit is active, you can change the extension conditions and the name of the deposit in our Internet bank or mobile app, or at any branch.
You can’t change the period or amount of the deposit, and you can’t make any additional payments into it.
You can opt for automatic extension when you enter into your contract, choosing whether to apply this solely to the deposit amount or to both the deposit amount and the interest.
If you opt to extend the deposit, then at the end of the period your contract is automatically extended for the same period at the current interest rate as indicated on the price list at the time (e.g. if the deposit period was previously three months, it’s extended by three months). The latest interest rates can be found here.
If you didn’t opt for automatic extension when entering into your contract, you can do this during the deposit period in our Internet bank or mobile app, or at the bank office.
Yes. You can do this in our Internet bank or mobile app, or at the bank office.
A deposit can be terminated immediately (service fee applies) or with 30 days’ notice (no service fee).
In the event of early termination, Coop Pank doesn’t pay interest for the current deposit period. Where monthly interest payments are concerned, the bank deducts this from the deposit amount paid out.
You’ll find the standard terms and conditions here.
All of Coop’s debit and credit cards, whether for private or business clients, can be ordered as virtual cards.
If you discover a transaction you didn’t make or one involving an unknown service provider, close your card and inform us immediately.
You can do this in the Internet bank or app, or by calling 669 0966at any time.
To challenge a transaction, submit an application to us in the Internet bank or app, or at any bank office.
If you ordered a virtual card, it will be ready for use straight away – just add it to your Wallet or other smart device and start using it.
If you ordered a physical card, it will usually arrive at your contact address within five (5) working days. You can activate the card as soon as you’ve ordered it and start using it in Wallet.
If you ordered a physical card and it hasn’t turned up, call Customer Support on 669 0966.
First, close your card immediately. If you think there’s a chance you’ll find it, you can opt to block it temporarily. To close or block your card, log into the Internet bank or mobile app or call us on 669 0966 (available 24/7).
In the case of a charge credit card, on the 10th of each month, the entire credit limit used in the previous month is automatically deducted from the current account linked to the card.
Banknotes in euros or other currencies in use in Member States of the European Union may only be taken into Russia or Belarus for personal use. This restriction does not extend to the currencies of third countries.
In travelling to or returning from Russia or Belarus, cash in excess of 10,000 euros must be declared at Customs. More information about the declaration of cash can be found on the website of the Estonian Tax and Customs Board.
Banks are prohibited from accepting deposits of more than €100,000 from Russian and Belarusian citizens and residents. In terms of existing clients, this means that the account balance and value of deposits of such a client in the bank may not exceed €100,000 and that the bank may not pay the client interest on their current account balance and deposit if this means that the client’s assets in the bank would exceed €100,000.
This prohibition is not applied to citizens and residents of Russia and Belarus who hold the citizenship of a European Union Member State, a country belonging to the European Economic Area or Switzerland, or who hold a temporary or permanent residence permit in a European Union Member State, a country belonging to the European Economic Area or Switzerland.
Coop Pank AS suspended all payments to Russian and Belarusian banks on 8 April 2022. This restriction extends to all subsidiaries of Russian and Belarusian banks that may be registered or operate outside of Russia and Belarus.
Starting from 19 August 2022 Coop Pank AS no longer accepts payments linked to Russia or Belarus. This means that starting from 19 August 2022 it is no longer possible to receive payments in an account opened in Coop Pank AS initiated by:
Coop Pank AS may also decline to perform a transaction if it identifies a Russian or Belarusian party in the goods supply chain or otherwise involved in the transaction or if the final beneficiary of the goods or service is Russian or Belarusian.
As an exception, payments linked to Russia or Belarus will be accepted if they pertain to the national interests of Estonia or humanitarian reasons, such as benefits or pensions. We will also allow our clients, as an exception and for valid reasons, to accept payments related to exiting businesses linked to Russia or Belarus.
Citizens and residents of and companies registered in the European Union who have decided to continue pursuing business relations with Russia or Belarus must bear in mind that they are obliged to follow and comply with all of the sanctions imposed by the European Union. The most up-to-date overview of sanctions can be found on the European Union sanctions map.
Countries, for which settlements are limited.
Mastercard suspended its operations in Russia on 10 March 2022, as a result of which Coop Pank cards can no longer be used for transactions in Russia. Coop Pank cards can be used for all outside Russia transactions as usual.
Opening an account with us is free of charge for Ukrainian citizens. New clients benefit from a 12-month discount period starting from the date they join us, during which the monthly fee for the ‘Useful’ plan is waived (the regular price being €1.49 per month).
Ukrainian citizens who want to open an account must present one of the following documents:
To open an account, pop in to your nearest bank office.
If a Ukrainian citizen starts a new company in Estonia (from 24 February 2022) and wants to open an account in Coop Pank, the account opening fee will be waived. Other services will be charged according to the ordinary price list, and whether we agree to open the account depends on the bank’s risk appetite.
Information is available on the kriis.ee website: https://kriis.ee/uudised/siseministeerium-lihtsustas-sojapogenikele-isikukoodi-andmist and https://kriis.ee/julgeolekuolukord-euroopas/info-ukraina-sojapogenikele.
Yes. Estonian banks and ATMs are operating as normal and there has been no increase in demand for cash. Should the desire to withdraw cash increase, banks will be able to meet this demand in cooperation with the Bank of Estonia.
Private and company deposits in Estonian banks are guaranteed up to the value of €100,000 per depositor per bank via the Guarantee Fund.
For example, if someone deposits €1 million in a bank operating in Estonia and another million in another bank operating in the country, the amount they are guaranteed is €200,000.
Estonian banks and bank services are functioning as normal, and the availability of cash is ensured. That said, everyone should have a small amount of cash to hand at any given time. A sensible amount would be enough to cover ordinary needs for a few days. We don’t recommend holding on to larger amounts of money in cash. The money that clients and companies hold in bank accounts is guaranteed, and there are specific plans in place in local banks to ensure their continued operation and the availability of money in various crisis scenarios. We also recommend familiarising yourself with the state’s guidelines on the website www.kriis.ee.
Banks keep a constant and very close watch on economic, geopolitical and security developments in the countries they operate in. For banks here in Estonia that now involves keeping an even closer eye on things, but nothing all that different to our everyday work has arisen so far.
Take a look at this press release issued by the Bank of Estonia: "How does the war in Ukraine affect banking in Estonia?".
Given the ongoing situation, we call on everyone to apply critical thinking to information they read online and to put their trust in reliable sources. Remember that scammers make the most of any situation – they play on people’s emotions to get them to make rash decisions and cheat them out of money. They might play up the risk of a cyberattack to scare you, or exploit your good side by pretending to represent a charity. Be on your guard, and think critically! More information about how to recognise scams can be found on the website of the Banking Association.
Yes, it is possible if the company has a designated user with administrative rights. To obtain administrator rights, a member of the company's board should contact the company's business client manager in Coop Pank.
Yes – a new user with an Estonian ID code can be added if their ID code is already in the banking system. If you want to add someone who isn’t in the banking system, contact your account manager.
Changes to the internet bank agreement, made in the e-channel by a user with company administrator rights, are usually activated immediately after confirmation with PIN2. In certain cases, the change needs to be confirmed by a bank employee, but in most cases the change is activated within the same working day. If the change requires confirmation by the bank, a corresponding message is displayed in the change view.
According to Money Laundering and Terrorist Financing Prevention Act, it is necessary to identify all users, who have the rights to make transactions, at the bank office. If a user who has not previously been identified at a bank office is added to the company's account, the person needs to identify himself at the nearest Coop Pank office within 30 days (take along your personal identification document).
You don’t need to have an account with us in order to apply for Gateway. Anyone linked to the company in question can apply in our Internet bank by identifying themselves beforehand. Applications can be submitted here.
You’ll need to configure your business software to get it working. For more details, see Good to know – Activating Gateway.
No, because viewing rights only enable them to view payments entered in their own Internet bank. If they need to view this information, the accountant must have the right to perform transactions (which can be extended to them without the limit on the confirmation of payments).
This depends on your business software provider’s readiness to interface with Gateway. Let them know you want to link up with Gateway, then contact your account manager here in the bank and they’ll guide you through the following steps.
This service transmits your account transactions to the accounting software in real time via Gateway. As soon as a transaction takes place, the information is sent via the interface and appears on the bank statement in the software.
Yes – you can do so at any time by e-mailing your account manager here in the bank.
To start using the bank link, fill in the application form online or at your nearest branch of Coop Pank. One of our business client managers will then get in touch with you.
To use bank link services, please place the logo of Coop Pank on your website. To save, click the logo with the right mouse button and select "Save Image As ...".
In order for the ‘New Level’ interest rate to automatically apply when you enter into a new product agreement or start using a new product, you’ll need to inform your account manager, who’ll then activate it for you.
Click here for details of the plans we offer our business clients.
Current accounts can be opened in our Internet bank or at one of our branches. You can open up to three such accounts online. To open further accounts, contact your account manager or go to your nearest branch.
Take a look at our term deposit service.
In case of an insured event, please contact If Insurance directly. As soon as possible, fill in the If Insurance claim form.
If you encounter repayment difficulties, we recommend contacting the bank immediately. We can offer a grace period or extend the loan term to help you avoid arrears.
An e-invoice is sent automatically every month to the bank where your loan was disbursed. If you wish to change your e-invoice account, you can easily do this in the small loan self-service environment.
Yes, absolutely! A loan can be repaid either partially or in full before the end of the contract period without any additional fees. If you repay the loan early, you only pay interest for the actual period of use. Early repayment helps you save on interest costs, and Coop Pank does not charge a penalty for it.
Yes, the interest rate is fixed for the entire repayment period and does not depend on Euribor fluctuations. This ensures that your monthly payment will not change.
We will transfer the funds to your account no later than one working day after signing the agreement and completing identity verification. The money will arrive in your current account in Estonia either on the same or the next banking day, depending on your bank, after we have made the transfer.
Applications submitted online or at a branch are usually answered within moments. In the case of a positive response, you can immediately sign the loan agreement.
To apply for a loan, please fill in the loan application either online on Coop Pank’s website or visit a Coop Pank office – choose the channel most convenient for you. Online applications can be submitted securely using an ID-card, Smart-ID, or Mobile-ID. After receiving a positive loan offer, you can sign the agreement digitally (using ID-card, Smart-ID, or Mobile-ID). If necessary, you may need to go through an identity verification process before the loan is disbursed. This can be done either via webcam on your smart device or at a Coop Pank branch. The whole process is designed to be as quick and convenient as possible – often the application takes only a few minutes.
Yes, you can add loan insurance to your existing small loan agreement. This can be done in the small loan self-service environment.
Yes, if you face temporary repayment difficulties, we recommend contacting the bank right away to find a solution together. Coop Pank can offer a grace period, with the length and terms agreed individually based on your situation. For example, the bank may extend the loan period or offer a temporary grace period during which you only pay interest. Prompt communication is important, as it helps prevent arrears from worsening. Together we will find the best solution for overcoming financial difficulties.
The most common reason is advance payment. If you have paid at least one monthly instalment in advance, no e-invoice is issued for that month, as the payment is already covered.
Full early repayment is free of charge. Partial repayment is also free of charge, provided the loan period remains unchanged. If you wish to change the loan term along with partial repayment, a contract amendment fee of €15 applies. Both partial and full repayments can be made in the small loan self-service environment.
The annual interest rate of Coop Pank’s small loans is fixed and calculated on the outstanding loan balance. The exact interest rate in your offer depends on your income and existing obligations – therefore it may be higher than the minimum rate.
When signing the loan agreement, a one-time agreement fee of 2% of the loan amount (minimum €35) applies, deducted from the disbursed loan amount. In addition, a monthly agreement administration fee of €1.5 is charged (included in your monthly instalment). Coop Pank does not charge an additional fee for early repayment. Before signing the agreement, please review all terms and the price list to understand the total cost of the loan.
At disbursement, the loan fee is deducted from the loan amount. If you also signed a loan insurance agreement, the first two months of insurance premiums are also deducted immediately.
If you have already signed the agreement and the loan has been disbursed, you can only submit a new application after making three instalment payments. If you have not yet signed the offer, we recommend submitting a new application for the higher amount you require. The amount offered depends on your repayment ability, so an increase is not always possible.
Yes, when submitting a loan application we ask you to provide a bank account statement for the last 6 months. The most convenient way is to upload it during the application process in our self-service environment, for example directly from your online bank. The account statement provides an overview of your income and obligations and helps us make a responsible lending decision.
Yes, contract changes are possible during the loan period. Changing the payment date and making a partial repayment without changing the term are free of charge. Any other amendments cost €15 per contract.
At the moment, we do not offer a refinancing loan. However, you are welcome to submit an application so that, if possible, you can repay your existing loan and service a new loan at Coop Pank.
You can add account statements automatically during the application process. Statements from all of your bank accounts must be provided.
Loan insurance can be terminated before the end date of a contract. Completed and signed applications should be e-mailed to finants@cooppank.ee.
If necessary, you can apply for a payment holiday. The length and conditions will be determined according to your needs and possibilities. Please send the completed and signed application by e-mail to finants@cooppank.ee.
In the small loan self-service environment, you can conveniently:
You can also add the account statement as a separate file. If you submit an account statement from a bank operating in Estonia, it must be digitally signed by the bank. For statements from a foreign bank (e.g. Finland), your own digital signature is required. Each statement must cover the last six months of transactions.
In this case, please provide proof or confirmation of the account closure. An official letter from the bank or a screenshot from internet banking showing that the account has been closed is acceptable. Please send this information by e-mail to klienditugi@cooppank.ee.
When specifying a credit card obligation, you must indicate the total credit limit.
In case of an insured event, please contact If Insurance directly. As soon as possible, fill in the If Insurance claim form.
If you encounter repayment difficulties, we recommend contacting the bank immediately. We can offer a grace period or extend the loan term to help you avoid arrears.
An e-invoice is sent automatically every month to the bank where your loan was disbursed. If you wish to change your e-invoice account, you can easily do this in the small loan self-service environment.
Yes, absolutely! A loan can be repaid either partially or in full before the end of the contract period without any additional fees. If you repay the loan early, you only pay interest for the actual period of use. Early repayment helps you save on interest costs, and Coop Pank does not charge a penalty for it.
Yes, the interest rate is fixed for the entire repayment period and does not depend on Euribor fluctuations. This ensures that your monthly payment will not change.
We will transfer the funds to your account no later than one working day after signing the agreement and completing identity verification. The money will arrive in your current account in Estonia either on the same or the next banking day, depending on your bank, after we have made the transfer.
Applications submitted online or at a branch are usually answered within moments. In the case of a positive response, you can immediately sign the loan agreement.
To apply for a loan, please fill in the loan application either online on Coop Pank’s website or visit a Coop Pank office – choose the channel most convenient for you. Online applications can be submitted securely using an ID-card, Smart-ID, or Mobile-ID. After receiving a positive loan offer, you can sign the agreement digitally (using ID-card, Smart-ID, or Mobile-ID). If necessary, you may need to go through an identity verification process before the loan is disbursed. This can be done either via webcam on your smart device or at a Coop Pank branch. The whole process is designed to be as quick and convenient as possible – often the application takes only a few minutes.
Yes, you can add loan insurance to your existing small loan agreement. This can be done in the small loan self-service environment.
Yes, if you face temporary repayment difficulties, we recommend contacting the bank right away to find a solution together. Coop Pank can offer a grace period, with the length and terms agreed individually based on your situation. For example, the bank may extend the loan period or offer a temporary grace period during which you only pay interest. Prompt communication is important, as it helps prevent arrears from worsening. Together we will find the best solution for overcoming financial difficulties.
The most common reason is advance payment. If you have paid at least one monthly instalment in advance, no e-invoice is issued for that month, as the payment is already covered.
Full early repayment is free of charge. Partial repayment is also free of charge, provided the loan period remains unchanged. If you wish to change the loan term along with partial repayment, a contract amendment fee of €15 applies. Both partial and full repayments can be made in the small loan self-service environment.
The annual interest rate of Coop Pank’s small loans is fixed and calculated on the outstanding loan balance. The exact interest rate in your offer depends on your income and existing obligations – therefore it may be higher than the minimum rate.
When signing the loan agreement, a one-time agreement fee of 2% of the loan amount (minimum €35) applies, deducted from the disbursed loan amount. In addition, a monthly agreement administration fee of €1.5 is charged (included in your monthly instalment). Coop Pank does not charge an additional fee for early repayment. Before signing the agreement, please review all terms and the price list to understand the total cost of the loan.
At disbursement, the loan fee is deducted from the loan amount. If you also signed a loan insurance agreement, the first two months of insurance premiums are also deducted immediately.
If you have already signed the agreement and the loan has been disbursed, you can only submit a new application after making three instalment payments. If you have not yet signed the offer, we recommend submitting a new application for the higher amount you require. The amount offered depends on your repayment ability, so an increase is not always possible.
Yes, when submitting a loan application we ask you to provide a bank account statement for the last 6 months. The most convenient way is to upload it during the application process in our self-service environment, for example directly from your online bank. The account statement provides an overview of your income and obligations and helps us make a responsible lending decision.
Yes, contract changes are possible during the loan period. Changing the payment date and making a partial repayment without changing the term are free of charge. Any other amendments cost €15 per contract.
At the moment, we do not offer a refinancing loan. However, you are welcome to submit an application so that, if possible, you can repay your existing loan and service a new loan at Coop Pank.
You can add account statements automatically during the application process. Statements from all of your bank accounts must be provided.
Loan insurance can be terminated before the end date of a contract. Completed and signed applications should be e-mailed to finants@cooppank.ee.
If necessary, you can apply for a payment holiday. The length and conditions will be determined according to your needs and possibilities. Please send the completed and signed application by e-mail to finants@cooppank.ee.
In the small loan self-service environment, you can conveniently:
You can also add the account statement as a separate file. If you submit an account statement from a bank operating in Estonia, it must be digitally signed by the bank. For statements from a foreign bank (e.g. Finland), your own digital signature is required. Each statement must cover the last six months of transactions.
In this case, please provide proof or confirmation of the account closure. An official letter from the bank or a screenshot from internet banking showing that the account has been closed is acceptable. Please send this information by e-mail to klienditugi@cooppank.ee.
When specifying a credit card obligation, you must indicate the total credit limit.
In order to open a term deposit in Coop Pank, you have to have a current account with us. Deposits can be opened in our Internet bank or mobile app, or at the bank office.
You can also open a deposit with a future date. This means that the full amount to be transferred to the deposit must be in your current account on the starting date of the deposit.
Term deposits can be opened for anywhere from 1-120 months, i.e. up to 10 years.
The deposit’s interest rates are calculated on an annual basis. For example, if the annual interest rate is 4%, then the rate for a six-month deposit is 2%: if you deposit €1000 for 12 months at 4%, you’ll earn €40 interest, but for six months you’ll earn half that, i.e. €20.
Note that if you opt for monthly interest payments, the interest rate on the deposit is 0.05% lower.
Provided the deposit is active, you can change the extension conditions and the name of the deposit in our Internet bank or mobile app, or at any branch.
You can’t change the period or amount of the deposit, and you can’t make any additional payments into it.
You can opt for automatic extension when you enter into your contract, choosing whether to apply this solely to the deposit amount or to both the deposit amount and the interest.
If you opt to extend the deposit, then at the end of the period your contract is automatically extended for the same period at the current interest rate as indicated on the price list at the time (e.g. if the deposit period was previously three months, it’s extended by three months). The latest interest rates can be found here.
If you didn’t opt for automatic extension when entering into your contract, you can do this during the deposit period in our Internet bank or mobile app, or at the bank office.
You’ll find the standard terms and conditions here.
In case of an insured event, please contact If Insurance directly. As soon as possible, fill in the If Insurance claim form.
If you encounter repayment difficulties, we recommend contacting the bank immediately. We can offer a grace period or extend the loan term to help you avoid arrears.
An e-invoice is sent automatically every month to the bank where your loan was disbursed. If you wish to change your e-invoice account, you can easily do this in the small loan self-service environment.
Yes, absolutely! A loan can be repaid either partially or in full before the end of the contract period without any additional fees. If you repay the loan early, you only pay interest for the actual period of use. Early repayment helps you save on interest costs, and Coop Pank does not charge a penalty for it.
Yes, the interest rate is fixed for the entire repayment period and does not depend on Euribor fluctuations. This ensures that your monthly payment will not change.
We will transfer the funds to your account no later than one working day after signing the agreement and completing identity verification. The money will arrive in your current account in Estonia either on the same or the next banking day, depending on your bank, after we have made the transfer.
Applications submitted online or at a branch are usually answered within moments. In the case of a positive response, you can immediately sign the loan agreement.
To apply for a loan, please fill in the loan application either online on Coop Pank’s website or visit a Coop Pank office – choose the channel most convenient for you. Online applications can be submitted securely using an ID-card, Smart-ID, or Mobile-ID. After receiving a positive loan offer, you can sign the agreement digitally (using ID-card, Smart-ID, or Mobile-ID). If necessary, you may need to go through an identity verification process before the loan is disbursed. This can be done either via webcam on your smart device or at a Coop Pank branch. The whole process is designed to be as quick and convenient as possible – often the application takes only a few minutes.
Yes, you can add loan insurance to your existing small loan agreement. This can be done in the small loan self-service environment.
Yes, if you face temporary repayment difficulties, we recommend contacting the bank right away to find a solution together. Coop Pank can offer a grace period, with the length and terms agreed individually based on your situation. For example, the bank may extend the loan period or offer a temporary grace period during which you only pay interest. Prompt communication is important, as it helps prevent arrears from worsening. Together we will find the best solution for overcoming financial difficulties.
The most common reason is advance payment. If you have paid at least one monthly instalment in advance, no e-invoice is issued for that month, as the payment is already covered.
Full early repayment is free of charge. Partial repayment is also free of charge, provided the loan period remains unchanged. If you wish to change the loan term along with partial repayment, a contract amendment fee of €15 applies. Both partial and full repayments can be made in the small loan self-service environment.
The annual interest rate of Coop Pank’s small loans is fixed and calculated on the outstanding loan balance. The exact interest rate in your offer depends on your income and existing obligations – therefore it may be higher than the minimum rate.
When signing the loan agreement, a one-time agreement fee of 2% of the loan amount (minimum €35) applies, deducted from the disbursed loan amount. In addition, a monthly agreement administration fee of €1.5 is charged (included in your monthly instalment). Coop Pank does not charge an additional fee for early repayment. Before signing the agreement, please review all terms and the price list to understand the total cost of the loan.
At disbursement, the loan fee is deducted from the loan amount. If you also signed a loan insurance agreement, the first two months of insurance premiums are also deducted immediately.
If you have already signed the agreement and the loan has been disbursed, you can only submit a new application after making three instalment payments. If you have not yet signed the offer, we recommend submitting a new application for the higher amount you require. The amount offered depends on your repayment ability, so an increase is not always possible.
Yes, when submitting a loan application we ask you to provide a bank account statement for the last 6 months. The most convenient way is to upload it during the application process in our self-service environment, for example directly from your online bank. The account statement provides an overview of your income and obligations and helps us make a responsible lending decision.
Yes, contract changes are possible during the loan period. Changing the payment date and making a partial repayment without changing the term are free of charge. Any other amendments cost €15 per contract.
At the moment, we do not offer a refinancing loan. However, you are welcome to submit an application so that, if possible, you can repay your existing loan and service a new loan at Coop Pank.
You can add account statements automatically during the application process. Statements from all of your bank accounts must be provided.
Loan insurance can be terminated before the end date of a contract. Completed and signed applications should be e-mailed to finants@cooppank.ee.
If necessary, you can apply for a payment holiday. The length and conditions will be determined according to your needs and possibilities. Please send the completed and signed application by e-mail to finants@cooppank.ee.
In the small loan self-service environment, you can conveniently:
You can also add the account statement as a separate file. If you submit an account statement from a bank operating in Estonia, it must be digitally signed by the bank. For statements from a foreign bank (e.g. Finland), your own digital signature is required. Each statement must cover the last six months of transactions.
In this case, please provide proof or confirmation of the account closure. An official letter from the bank or a screenshot from internet banking showing that the account has been closed is acceptable. Please send this information by e-mail to klienditugi@cooppank.ee.
When specifying a credit card obligation, you must indicate the total credit limit.
In case of an insured event, please contact If Insurance directly. As soon as possible, fill in the If Insurance claim form.
If you encounter repayment difficulties, we recommend contacting the bank immediately. We can offer a grace period or extend the loan term to help you avoid arrears.
An e-invoice is sent automatically every month to the bank where your loan was disbursed. If you wish to change your e-invoice account, you can easily do this in the small loan self-service environment.
Yes, absolutely! A loan can be repaid either partially or in full before the end of the contract period without any additional fees. If you repay the loan early, you only pay interest for the actual period of use. Early repayment helps you save on interest costs, and Coop Pank does not charge a penalty for it.
Yes, the interest rate is fixed for the entire repayment period and does not depend on Euribor fluctuations. This ensures that your monthly payment will not change.
We will transfer the funds to your account no later than one working day after signing the agreement and completing identity verification. The money will arrive in your current account in Estonia either on the same or the next banking day, depending on your bank, after we have made the transfer.
Applications submitted online or at a branch are usually answered within moments. In the case of a positive response, you can immediately sign the loan agreement.
To apply for a loan, please fill in the loan application either online on Coop Pank’s website or visit a Coop Pank office – choose the channel most convenient for you. Online applications can be submitted securely using an ID-card, Smart-ID, or Mobile-ID. After receiving a positive loan offer, you can sign the agreement digitally (using ID-card, Smart-ID, or Mobile-ID). If necessary, you may need to go through an identity verification process before the loan is disbursed. This can be done either via webcam on your smart device or at a Coop Pank branch. The whole process is designed to be as quick and convenient as possible – often the application takes only a few minutes.
Yes, you can add loan insurance to your existing small loan agreement. This can be done in the small loan self-service environment.
Yes, if you face temporary repayment difficulties, we recommend contacting the bank right away to find a solution together. Coop Pank can offer a grace period, with the length and terms agreed individually based on your situation. For example, the bank may extend the loan period or offer a temporary grace period during which you only pay interest. Prompt communication is important, as it helps prevent arrears from worsening. Together we will find the best solution for overcoming financial difficulties.
The most common reason is advance payment. If you have paid at least one monthly instalment in advance, no e-invoice is issued for that month, as the payment is already covered.
Full early repayment is free of charge. Partial repayment is also free of charge, provided the loan period remains unchanged. If you wish to change the loan term along with partial repayment, a contract amendment fee of €15 applies. Both partial and full repayments can be made in the small loan self-service environment.
The annual interest rate of Coop Pank’s small loans is fixed and calculated on the outstanding loan balance. The exact interest rate in your offer depends on your income and existing obligations – therefore it may be higher than the minimum rate.
When signing the loan agreement, a one-time agreement fee of 2% of the loan amount (minimum €35) applies, deducted from the disbursed loan amount. In addition, a monthly agreement administration fee of €1.5 is charged (included in your monthly instalment). Coop Pank does not charge an additional fee for early repayment. Before signing the agreement, please review all terms and the price list to understand the total cost of the loan.
At disbursement, the loan fee is deducted from the loan amount. If you also signed a loan insurance agreement, the first two months of insurance premiums are also deducted immediately.
If you have already signed the agreement and the loan has been disbursed, you can only submit a new application after making three instalment payments. If you have not yet signed the offer, we recommend submitting a new application for the higher amount you require. The amount offered depends on your repayment ability, so an increase is not always possible.
Yes, when submitting a loan application we ask you to provide a bank account statement for the last 6 months. The most convenient way is to upload it during the application process in our self-service environment, for example directly from your online bank. The account statement provides an overview of your income and obligations and helps us make a responsible lending decision.
Yes, contract changes are possible during the loan period. Changing the payment date and making a partial repayment without changing the term are free of charge. Any other amendments cost €15 per contract.
At the moment, we do not offer a refinancing loan. However, you are welcome to submit an application so that, if possible, you can repay your existing loan and service a new loan at Coop Pank.
You can add account statements automatically during the application process. Statements from all of your bank accounts must be provided.
Loan insurance can be terminated before the end date of a contract. Completed and signed applications should be e-mailed to finants@cooppank.ee.
If necessary, you can apply for a payment holiday. The length and conditions will be determined according to your needs and possibilities. Please send the completed and signed application by e-mail to finants@cooppank.ee.
In the small loan self-service environment, you can conveniently:
You can also add the account statement as a separate file. If you submit an account statement from a bank operating in Estonia, it must be digitally signed by the bank. For statements from a foreign bank (e.g. Finland), your own digital signature is required. Each statement must cover the last six months of transactions.
In this case, please provide proof or confirmation of the account closure. An official letter from the bank or a screenshot from internet banking showing that the account has been closed is acceptable. Please send this information by e-mail to klienditugi@cooppank.ee.
When specifying a credit card obligation, you must indicate the total credit limit.
The insurance premium depends on the vehicle’s category, make, model, engine power, use of the vehicle and the age, region and damage history of the owner or responsible user.
If the owner or the responsible user – the person who is obliged to insure the vehicle – changes, the motor insurance contract is automatically transferred to the new owner or responsible user.
The request for cancellation of a motor insurance policy must be sent to maakler@cooppank.ee. If the current owner of the vehicle wants to get a refund for the unused period of the policy, the cancellation request must be submitted before the change of ownership.
You can buy motor insurance for 1 month, 3 months, 6 months and a year from the self-service channel.
Yes, insurance can be purchased for a maximum of 30 days if the vehicle’s registration is suspended.
The insurance premium depends on the vehicle’s category, make, model, engine power, use of the vehicle and the age and region of the owner or responsible user.
Comprehensive insurance is a voluntary insurance that offers broader cover than motor insurance. Unlike motor insurance, which only covers damage caused to others, comprehensive insurance covers damage to or the loss of your own vehicle. Irrespective of who caused the damage. Comprehensive insurance covers losses caused by traffic accidents, natural disasters, vandalism, theft or other unexpected events.
In order to terminate your comprehensive insurance, send your request in writing to maakler@cooppank.ee.
The value of the vehicle is determined according to the market value, i.e. the average selling price of the vehicle in Estonia.
The insurance company may refuse to indemnify if traffic rules or safety rules have been broken, the vehicle has been used on roads not open to traffic, the wrong use has been chosen for the vehicle (e.g. a vehicle in normal use is used as a taxi), the driver was drunk at the time of the insured event, the vehicle is used for racing, etc. Damage to the vehicle that existed before the insurance contract was taken out is also not covered. Smooth claims handling requires submission of photos of the insured vehicle or a comprehensive insurance policy from a previous period.
If the company has yet to be registered, the share capital can only be returned on the basis of a court order. A court will issue such an order on the basis of an application submitted by the founders i.e. the representative of the company.
If the company has been registered but you don’t want to open a current account in Coop Pank, the share capital can only be returned on the basis of a Registry Department order. The department will issue such an order on the basis of an application submitted by the administrator.
Setting up your own company is quick and easy – especially if you have an ID card, Mobile ID or Smart ID. Go to www.ariregister.rik.ee, log in and simply start setting up your new company. Alternatively, you can do this at a notary’s office.
No – since 1 February 2023 there has been no requirement to pay it in immediately. If your share capital is 50,000 euros or less, then confirmation from a member of the management board that the contributions have been paid to the company is sufficient for submitting an application. You can set up a private limited company without paying the capital in and simply ticking the “I confirm the contribution of share capital” box in the business portal.
You can pay in share capital by:
Yes, it is possible if the company has a designated user with administrative rights. To obtain administrator rights, a member of the company's board should contact the company's business client manager in Coop Pank.
An administrator can make changes in the Internet bank by clicking on ‘Settings’ and then ‘Limits and rights’, selecting ‘More options’ in the row with the user’s name and then ‘Amend’.
Yes – a new user with an Estonian ID code can be added if their ID code is already in the banking system. If you want to add someone who isn’t in the banking system, contact your account manager.
Changes to the internet bank agreement, made in the e-channel by a user with company administrator rights, are usually activated immediately after confirmation with PIN2. In certain cases, the change needs to be confirmed by a bank employee, but in most cases the change is activated within the same working day. If the change requires confirmation by the bank, a corresponding message is displayed in the change view.
According to Money Laundering and Terrorist Financing Prevention Act, it is necessary to identify all users, who have the rights to make transactions, at the bank office. If a user who has not previously been identified at a bank office is added to the company's account, the person needs to identify himself at the nearest Coop Pank office within 30 days (take along your personal identification document).
All Estonian citizens who are at least 18 years old, as well as foreign citizens residing in Estonia with a valid residence permit or right of residence, can apply for a Small Loan for a Starting Entrepreneur. The applicant’s monthly income must be at least €400, and their age at the end of the loan period must not exceed 75 years. Applicants must also have a good credit history.
In case of an insured event, please contact If Insurance directly. As soon as possible, fill in the If Insurance claim form.
If you encounter repayment difficulties, we recommend contacting the bank immediately. We can offer a grace period or extend the loan term to help you avoid arrears.
An e-invoice is sent automatically every month to the bank where your loan was disbursed. If you wish to change your e-invoice account, you can easily do this in the small loan self-service environment.
Yes, absolutely! A loan can be repaid either partially or in full before the end of the contract period without any additional fees. If you repay the loan early, you only pay interest for the actual period of use. Early repayment helps you save on interest costs, and Coop Pank does not charge a penalty for it.
Yes, the interest rate is fixed for the entire repayment period and does not depend on Euribor fluctuations. This ensures that your monthly payment will not change.
We will transfer the funds to your account no later than one working day after signing the agreement and completing identity verification. The money will arrive in your current account in Estonia either on the same or the next banking day, depending on your bank, after we have made the transfer.
Applications submitted online or at a branch are usually answered within moments. In the case of a positive response, you can immediately sign the loan agreement.
To apply for a loan, please fill in the loan application either online on Coop Pank’s website or visit a Coop Pank office – choose the channel most convenient for you. Online applications can be submitted securely using an ID-card, Smart-ID, or Mobile-ID. After receiving a positive loan offer, you can sign the agreement digitally (using ID-card, Smart-ID, or Mobile-ID). If necessary, you may need to go through an identity verification process before the loan is disbursed. This can be done either via webcam on your smart device or at a Coop Pank branch. The whole process is designed to be as quick and convenient as possible – often the application takes only a few minutes.
Yes, you can add loan insurance to your existing small loan agreement. This can be done in the small loan self-service environment.
Yes, if you face temporary repayment difficulties, we recommend contacting the bank right away to find a solution together. Coop Pank can offer a grace period, with the length and terms agreed individually based on your situation. For example, the bank may extend the loan period or offer a temporary grace period during which you only pay interest. Prompt communication is important, as it helps prevent arrears from worsening. Together we will find the best solution for overcoming financial difficulties.
The most common reason is advance payment. If you have paid at least one monthly instalment in advance, no e-invoice is issued for that month, as the payment is already covered.
Full early repayment is free of charge. Partial repayment is also free of charge, provided the loan period remains unchanged. If you wish to change the loan term along with partial repayment, a contract amendment fee of €15 applies. Both partial and full repayments can be made in the small loan self-service environment.
The annual interest rate of Coop Pank’s small loans is fixed and calculated on the outstanding loan balance. The exact interest rate in your offer depends on your income and existing obligations – therefore it may be higher than the minimum rate.
When signing the loan agreement, a one-time agreement fee of 2% of the loan amount (minimum €35) applies, deducted from the disbursed loan amount. In addition, a monthly agreement administration fee of €1.5 is charged (included in your monthly instalment). Coop Pank does not charge an additional fee for early repayment. Before signing the agreement, please review all terms and the price list to understand the total cost of the loan.
At disbursement, the loan fee is deducted from the loan amount. If you also signed a loan insurance agreement, the first two months of insurance premiums are also deducted immediately.
If you have already signed the agreement and the loan has been disbursed, you can only submit a new application after making three instalment payments. If you have not yet signed the offer, we recommend submitting a new application for the higher amount you require. The amount offered depends on your repayment ability, so an increase is not always possible.
Yes, when submitting a loan application we ask you to provide a bank account statement for the last 6 months. The most convenient way is to upload it during the application process in our self-service environment, for example directly from your online bank. The account statement provides an overview of your income and obligations and helps us make a responsible lending decision.
Yes, contract changes are possible during the loan period. Changing the payment date and making a partial repayment without changing the term are free of charge. Any other amendments cost €15 per contract.
At the moment, we do not offer a refinancing loan. However, you are welcome to submit an application so that, if possible, you can repay your existing loan and service a new loan at Coop Pank.
You can add account statements automatically during the application process. Statements from all of your bank accounts must be provided.
Loan insurance can be terminated before the end date of a contract. Completed and signed applications should be e-mailed to finants@cooppank.ee.
If necessary, you can apply for a payment holiday. The length and conditions will be determined according to your needs and possibilities. Please send the completed and signed application by e-mail to finants@cooppank.ee.
A loan taken out as a private client can be used, for example, to make a contribution to your company’s share capital or simply to inject funds into your business. Owners borrowing money for their companies is quite standard practice. If you don’t have any experience in this regard, we suggest consulting an adviser before taking out a loan. They’ll outline the different financing options available to you and how you can go about getting them. There’s a network of County Development Centres in Estonia at which professional business consultants offer free advice.
In the small loan self-service environment, you can conveniently:
You can also add the account statement as a separate file. If you submit an account statement from a bank operating in Estonia, it must be digitally signed by the bank. For statements from a foreign bank (e.g. Finland), your own digital signature is required. Each statement must cover the last six months of transactions.
A loan taken out as a private client can be used, for example, to make a contribution to your company’s share capital or simply to inject funds into your business. Owners borrowing money for their companies is quite standard practice. If you don’t have any experience in this regard, we suggest consulting an adviser before taking out a loan. They’ll outline the different financing options available to you and how you can go about getting them. There’s a network of County Development Centres in Estonia at which professional business consultants offer free advice.
In this case, please provide proof or confirmation of the account closure. An official letter from the bank or a screenshot from internet banking showing that the account has been closed is acceptable. Please send this information by e-mail to klienditugi@cooppank.ee.
No – you can simply make your monthly repayments from your account in the bank you normally bank with.
That said, here at Coop Pank we make banking as easy and affordable as possible for businesses. Click here for an overview of the offers we make to our business clients. If you’re planning on setting up an online store for yourself, you should consider the Montonio payment solution, since Coop Pank pays a bonus for merchants who use Montonio – meaning there’s even more reason to use it!
When specifying a credit card obligation, you must indicate the total credit limit.
In order to open a term deposit in Coop Pank, you have to have a current account with us. Deposits can be opened in our Internet bank or mobile app, or at the bank office.
You can also open a deposit with a future date. This means that the full amount to be transferred to the deposit must be in your current account on the starting date of the deposit.
Term deposits can be opened for anywhere from 1-120 months, i.e. up to 10 years.
The deposit’s interest rates are calculated on an annual basis. For example, if the annual interest rate is 4%, then the rate for a six-month deposit is 2%: if you deposit €1000 for 12 months at 4%, you’ll earn €40 interest, but for six months you’ll earn half that, i.e. €20.
Note that if you opt for monthly interest payments, the interest rate on the deposit is 0.05% lower.
Provided the deposit is active, you can change the extension conditions and the name of the deposit in our Internet bank or mobile app, or at any branch.
You can’t change the period or amount of the deposit, and you can’t make any additional payments into it.
You can opt for automatic extension when you enter into your contract, choosing whether to apply this solely to the deposit amount or to both the deposit amount and the interest.
If you opt to extend the deposit, then at the end of the period your contract is automatically extended for the same period at the current interest rate as indicated on the price list at the time (e.g. if the deposit period was previously three months, it’s extended by three months). The latest interest rates can be found here.
If you didn’t opt for automatic extension when entering into your contract, you can do this during the deposit period in our Internet bank or mobile app, or at the bank office.
Yes. You can do this in our Internet bank or mobile app, or at the bank office.
A deposit can be terminated immediately (service fee applies) or with 30 days’ notice (no service fee).
In the event of early termination, Coop Pank doesn’t pay interest for the current deposit period. Where monthly interest payments are concerned, the bank deducts this from the deposit amount paid out.
You’ll find the standard terms and conditions here.
Coop Pank pays the bonus to your company’s current account once a quarter. It works like this:
It means that whenever an invoice is generated by your accounting software, a payment link or button is automatically appended to it. If the client clicks on said link or button, a page opens up in their browser on which they can choose their payment method (e.g. a transfer from their home bank). This then opens up their bank’s payment page, where they can log in to their account and confirm the transfer.
This makes paying invoices quicker and easier, because the payer no longer has to copy and paste any of the invoice details. Your company’s IT specialist or partner will have no trouble integrating the system – all they need to do is look at the documentation for both Montonio and your own accounting software. Montonio’s payment link documentation can be found here.
In order to calculate the bonus, we need accurate input on your company’s actual turnover. The Estonian Tax and Customs Board publishes such data for the previous quarter at the end of each quarter. We calculate the bonus on that basis. As a result, we introduced the requirement that you have to be liable to VAT to qualify for the bonus.
If you discover a transaction you didn’t make or one involving an unknown service provider, close your card and inform us immediately.
You can do this in the Internet bank or app, or by calling 669 0966at any time.
To challenge a transaction, submit an application to us in the Internet bank or app, or at any bank office.
First, close your card immediately. If you think there’s a chance you’ll find it, you can opt to block it temporarily. To close or block your card, log into the Internet bank or mobile app or call us on 669 0966 (available 24/7).
You can check and, if necessary, change your card limits in either the Internet bank or app.
In addition to your cash limits and payment for purchases, you can also set a limit on your contactless payments (up to €50) and switch off the option to make online payments.
If you set limits on your card, bear in mind that they should be as low as possible and that you only enable the functions you use on a daily basis. That way you’ll always be as protected as you can be against card fraud. If necessary, you can amend your limits quickly and easily in our app.
With a Coop Pank card you can withdraw cash from any bank’s ATM and from the more than 300 Coop stores around Estonia.
Cash deposits can be made with a physical Coop Pank card at any Coop store. Deposits can’t be made with a virtual card.
You can check your card’s PIN at any time in the Internet bank or app, and there’s no limit on how many times you can check it.
Viewing your PIN is entirely safe, since you’ll be asked to identify yourself again using biometrics or another means of authentication.
Note that you can only change a physical card’s PIN at ATMs whose operators enable this. You can’t change a virtual card’s PIN.
If you’ve lost your card or it’s been stolen, immediately block it in the mobile or Internet bank or call us on 669 0966. Let us know even if you’re not sure you’ve lost it – it can be blocked temporarily. To order a new card, call us on 669 0966 or send us a notification in the Internet or mobile bank. This will ensure that your credit card agreement continues on the same terms and conditions.
If you’ve lost your card or it’s been stolen, immediately block it in the Internet bank or app, or by calling us on 669 0966. Let us know even if you’re not sure you’ve lost your card – it can be blocked temporarily.
To order a new card, call us as soon as possible on 669 0966 or message us in the Internet bank or app. That way your credit card agreement will continue under the same conditions.
First, close your card immediately. If you think there’s a chance you’ll find it, you can opt to block it temporarily. To close or block your card, log into the Internet bank or mobile app or call us on 669 0966 (available 24/7).
You can check your card’s PIN at any time in the Internet bank or app, and there’s no limit on how many times you can check it.
Viewing your PIN is entirely safe, since you’ll be asked to identify yourself again using biometrics or another means of authentication.
Note that you can only change a physical card’s PIN at ATMs whose operators enable this. You can’t change a virtual card’s PIN.
All of Coop’s debit and credit cards, whether for private or business clients, can be ordered as virtual cards.
You can use the virtual card just like an ordinary card, in the following ways:
Note that Coop Sula deposits can’t be made with a virtual card in Coop stores. Nor can you use a virtual card as a Coop loyalty card when using your Wallet. A physical card is needed for both of these.
You’ll need your card’s details to make online purchases: the card number, CVC and expiry date. You can find all of these in our app or Internet bank. If the online store you’re shopping in supports Wallet payments, you can also use Apple Pay or Google Pay to pay by card.
No – the number you can have is limited to one virtual debit card and one virtual credit card at a time.
Yes – you can make cash withdrawals in Coop stores with your virtual card. To do this, you’ll need to make a purchase. Note that you can withdraw up to €100 per transaction.
Unfortunately, in-store deposits can’t be made with a virtual card: you’ll need a physical card for this.
You’ll find the card number, CVC and expiry date in the Coop Bank app and in the ‘Cards’ section of our Internet bank.
You can change your physical card’s PIN at any ATM whose operator enables this. You can’t change your virtual card’s PIN.
You can safely check your PIN at any time in our Internet bank or app.
To open an account, click on ‘Open account’ and log in with Smart ID, Mobile ID or your ID card. Next, select the company you want to open the account for, fill in the application form and digitally sign the agreement. The account will be opened immediately, and the person opening it will gain access to the Internet bank. If the company’s management board has more than one member, access isn’t automatically granted to the other members, but must be requested separately.
If entering into the agreement fails, this means we’ve received your application to open the account but will get in touch with you as soon as possible to ask for further information, if needed. Be prepared to describe your business model to us as precisely as you can, and to tell us who you plan to perform transactions with. All banks follow the ‘Know Your Customer’ principle, so additional questions may have to be asked.
If you’d prefer to, you can open a business client’s account at one of our bank offices. The account can only be opened by your company’s legal representative.
A business account can be opened online only if the representative is an Estonian citizen or holds a permanent residence permit in Estonia.
Yes – for companies registered in Estonia. But if the company’s ownership structure includes an individual or legal entity linked to a foreign country, if the company’s field of activity is specific or if the company is registered outside of Estonia, the fees set out in the price list apply.
If the apartment association has a management board, transactions can be performed by the member of the board named in the register without them needing to submit separate authorisation. In the event that the members of the board have joint representation rights, the board can only represent the association collectively.
An apartment association isn’t required to have a management board if there are 10 or fewer apartments in the building or if all of the apartments are owned by the same individual. If there is no management board, the association is jointly led and represented by all of the owners, who are regarded as members of the board with joint representation rights. However, this means that all owners must indicate their volition when transactions are performed on behalf of an apartment association: the consent of all owners is required, which is why all of them must come to a branch of the bank or issue a joint power of attorney or a digitally signed letter of authorisation on the bank’s letterhead granting someone the authority to represent the apartment association in order to open an account and enter into other agreements.
Presentation of authorisation at a bank branch:
The easiest way to open a business client account as a non-resident is at one of our branches. You’ll need to demonstrate that you have a clear connection to Estonia and explain what financial need will be served by opening the account.
Coop Pank treats companies registered abroad or Estonian companies which are not controlled by an Estonian resident as non-residents.
We count the following as a strong connection to Estonia:
When coming in to the branch, make sure you have the required documents with you:
Once we’ve received your application to open the account, we’ll get in touch with you as soon as possible to ask for further information, if needed.
If your application is approved, we’ll send the agreement to you for signing. In the event that those representing the company have not previously identified themselves at a branch of Coop Pank, they must do so prior to signing the agreement.
When you identify yourself electronically, you can make outgoing payments from your company's account to the value of up to 25,000 euros per month. If you need to make payments to a greater value in a single month, come in and identify yourself at any Coop Pank branch or banking point, bringing personal ID with you.
Current accounts can be opened in our Internet bank or at one of our branches. You can open up to three such accounts online. To open further accounts, contact your account manager or go to your nearest branch.
Send us a bank message from the app or Internet bank indicating the number of the account you’d like to close. No active deposits or credit products may be linked to the account.
No, a cash deposit is always a separate transaction and cannot be made together with a purchase. If you also want to make a purchase, the store employee will perform 2 different transactions - cash deposit and purchase of goods.
The minimum limit of a single cash deposit transaction is €5. A cash deposit up to €4000 is free of charge in the Corporate Plan. A client can deposit up to €1000 per day and up to €10 000 per month.
You won’t be able to perform the transaction. You can quickly and easily check the balance of your cash deposits in the Internet bank or app.
Immediately, so you can start using it straight away.
The person serving you will always count the cash being deposited in full view. The amount can also be seen on the card terminal screen, so make sure you check it before confirming the transaction with your PIN. The person serving you cannot see the balance of your account.
No – cash can only be deposited in the account linked to your card in Coop Pank.
Cash withdrawal is available at all 320 Coop stores in Estonia. You can take out up to € 1000 at a time. In the Apartment Building Plan, cash withdrawal is up to € 500 per month free of charge.
The person at the till does not see how much money you have in your account. If you’re not certain and want to make sure that you have money in your account, we advise you to check your account balance before the transaction using our Internet bank or mobile app.
There are two limits on a debit card: cash limit and payment limit. Cash withdrawal is issued at the expense of the cash limit and purchases are covered by the payment limit. Thus, it’s possible that you have enough money on the card, but the transaction is rejected by the bank because you have exceeded the relevant limit. You can change the card limits on the Internet bank and mobile app, or at a bank office.
You must always confirm cash withdrawal at Coop stores with your PIN. This is necessary for security purposes and to confirm the identity of the card user.
If you wish to recall a payment, submit a bank notice to this effect including the date on which the payment was executed, the recipient and the amount. A payment issued by the bank can only be recalled with the recipient’s consent. If they don’t grant it, the payment can’t be recalled. The fee for recalling a payment is €20 and requires the recipient’s consent. We recommend getting in touch with the recipient first and asking them to return the payment. If you’d rather instigate the recalling of the payment via the bank, confirm in your bank notice that you agree to pay the fee.
Instant payments reach your account in a matter of seconds. European payments usually take between three hours and one business day to reach your account. If you can’t see a payment that’s been made to you, we recommend checking with the other bank whether they’ve issued the payment.
In view of Coop Bank’s risk appetite, as well as wide-ranging sanctions and legal requirements, the bank doesn’t perform transactions with the countries listed here. Those marked with an asterisk are countries with which no transactions can be performed.
Yes. In this case, all payments without reference numbers are revoked.
These can be generated for a company’s invoices using the reference number calculator on the Estonian Banking Association website.
No, because the banks operating in Estonia don’t offer direct debit services and therefore aren’t obliged to be part of the system. The direct debit service for payments within Estonia was terminated on 1 February 2014 upon the introduction of standing orders initiated on the basis of e-invoices.
Your company will need to enter into an agreement with an operator on the forwarding of e-invoices. This service is offered by Unifiedpost (Fitek AS, +372 651 9519, teenindus@unifiedpost.com) and Finbite OÜ (Omniva, +372 656 5400, sales.et@finbite.eu). You can also use other operators who forward e-invoices via Unifiedpost.
Current accounts can be opened and payments made in Coop Pank in EUR, DKK, NOK, SEK and USD*.
*Note that current accounts in USD are no longer being opened and that only intrabank payments have been able to be made in existing USD accounts since 5 May 2017.
Yes – confidential salary and pension payments can be made quickly and easily in our Internet bank. Consolidated payments are debited from your account as a single row, and only those with the right to view individual payments may do so. For the total amount of payments in a single payment file transmitted in ISO XML format to be debited, the ‘Batch Booking’ (pain.001.001.03 index 2.3) field must be set to ‘True’ and the ‘Category Purpose Code’ (pain.001.001.03 index 2.15) field must be set to ‘SALA’, ‘SSBE’ or ‘PENS’. Watch explanatory video.
How the explanation is displayed in the payer’s account field depends on the values in the fields in the XML file:
1. If you enter the value ‘True’ in the ‘Batch Booking’ field in the ISO format payment order but don’t fill in the ‘Category Purpose Code’ field, the words ‘Consolidated Payment’ will be displayed in the explanation field.
2. If you enter SALA, SSBE or PENS in the ‘Category Purpose Code’ field, the explanation field will display either ‘Salary payment’, ‘Social insurance contribution’ or ‘Pension contribution’, respectively.
Yes – all of our cards can be added to Apple Pay and Google Pay and used on smart devices like watches and rings that have the Fidesmo, Fitbit, Garmin, Manage-Mii, Zep or Tappy payment apps. Find out more about smart means of payment here.
If you ordered a virtual card, it will be ready for use straight away – just add it to your Wallet or other smart device and start using it.
If you ordered a physical card, it will usually arrive at your contact address within five (5) working days. You can activate the card as soon as you’ve ordered it and start using it in Wallet.
If you ordered a physical card and it hasn’t turned up, call Customer Support on 669 0966.
You can do this quickly and easily in the Internet bank or app, choosing whether you want a physical card or a virtual one.
If you order a virtual card, it’ll be ready to use straight away – just add it to your Wallet or other smart device and start using it.
If you prefer a physical card, we’ll post it to your home or business address. Note that you can add your physical card to your Wallet and start using it on your smart device as soon as you order it.
In order to be able to use a card that’s posted to you, you first have to activate it in the Internet bank or app (by clicking on My bank -> Cards -> Activate). Business clients’ cards have to be activated by the company’s authorised representative. Never activate a card until you’ve actually received it. To activate a card, you’ll need to enter the 3-digit CVC you find on the back of the card.
You’ll find the PIN for your new card in the Internet bank or app once you’ve received and activated the card. To view the PIN, you’ll be asked to identify yourself again using biometrics or another means of authentication.
Be sure to call Customer Support on 669 0966 (8:30-19:00 Monday-Friday) if a bank card that’s been posted to you doesn’t turn up within a week, or if you’re unable to activate it.
No – don’t enter your card details or a security code you receive as an SMS on any website that doesn’t seem trustworthy. If you receive a call or e-mail asking you for your card details, you’re probably being scammed.
Always read the content of any message you’re sent: if it refers to a transaction you yourself didn’t instigate, contact the bank immediately and close your card.
First, close your card immediately. If you think there’s a chance you’ll find it, you can opt to block it temporarily. To close or block your card, log into the Internet bank or mobile app or call us on 669 0966 (available 24/7).
All Coop Pank cards come with the contactless payment option. You can use it to make quick and easy payments of up to €50 without entering your PIN or inserting your card in the terminal. All you have to do is tap your card against or hold it close to the terminal. Contactless payments are secure – for security reasons, the bank will sometimes ask you to confirm a transaction with your PIN, even for smaller amounts. You can make contactless payments anywhere, in Estonia or abroad – just look for the contactless payment sign on the terminal. The maximum amount allowed for contactless payments may vary from country to country.
Set use limits on your card (for card payments and/or cash transactions) in the Internet bank or app. You can also set a monthly limit covering all of your card transactions. In the interests of security, we recommend setting your limits as low as possible based on your actual card use.
Since contactless payments on public transport are technologically different from other card payments, you can pay contactless on buses, trams, trains and the like even if you’ve disabled contactless payments on your card.
Yes – all of our cards can be added to Apple Pay and Google Pay and used on smart devices like watches and rings that have the Fidesmo, Fitbit, Garmin, Manage-Mii, Zep or Tappy payment apps. Find out more about smart means of payment here.
Getting started couldn’t be easier! Apply online or at a bank office. You’ll then be contacted by someone from the Nets Denmark A/S Estonia branch, who’ll go over the details (if needed) and draw up a price offer for you. Once you’ve entered into your agreement, the payment terminal will be prepped and delivered to you, with help and training being provided on its installation and use.
You can rent Ingenico or Verifone payment terminals, integrating them with a certified cash desk system if required. These terminals support magnetic stripe, chip and contactless payments. As the trader, you can choose the solution that best suits you, with a specialist providing support wherever needed. If you rent a terminal, you’re given training on how to use it and provided with a manual.
Payments accrue on working days as a net amount, which means that service fees have already been deducted from the card payment amount received in the bank account. If your company also rents a payment terminal, the fee for renting it is deducted once a month.
When submitting your application, choose the option to accept payments using a smart device. After signing the agreement, download the Nets EE SoftPOS app from the Google Play Store and refer to the user manual. Please note that the application is compatible with smart devices running Android 12 or above. Additionally, the device must have NFC enabled, and both Google and location services must be turned on.
Nets Denmark A/S will draw up a quote for you once your application has been submitted. The offer they make depends on the volume of card payments.
You can use Apple Pay anywhere you see that contactless payments or Apple Pay are enabled, both in store and online.
Hold your iPhone or Apple Watch against or close to the payment terminal the same way you would when making a contactless payment with a card.
You can also use Apple Pay in online stores and apps.
You can use all Coop Pank debit, credit and business client cards. Users can add their card(s) to Apple Wallet themselves via the Coop Pank mobile app.
Yes, since your card details are never saved to your device or in the service provider’s system. Card details are not used when making payments – instead, payments are approved based on the number linked to the device and a unique code generated for that particular transaction. When using Apple Pay you can be sure your card details are protected.
You can withdraw cash in Coop stores using Apple Pay. To do this, you’ll need to make a purchase. You can withdraw up to €100 per transaction. Cash deposits can’t be made in Coop stores with Apple Pay – only with a physical card.
Apple Pay can be used at ATMs that enable contactless payments. Simply open Wallet, place your smart device on the contactless interface, enter your PIN (which you can safely check at any time in the app) and withdraw the cash you need.
The same rules apply as when you pay with your card.
Any Apple devices which have Face ID or Touch ID. If you have an Apple Watch, it must be Series 1 or newer.
You can use Google Pay anywhere you see that contactless payments or Google Pay are enabled, both in store and online.
Your phone must have NFC switched on if you want to make contactless payments.
Hold your smart device against the payment terminal the same way you would when making a contactless payment with a card.
You can also use Google Pay in online stores and apps.
View the standard terms and conditions here.
You can use all Coop Pank debit, credit and business client cards. Users can add their card(s) to Google Wallet themselves.
Yes, since your card details are never saved to your device or in the service provider’s system. Card details are not used when making payments – instead, payments are approved based on the number linked to the device and a unique code generated for that particular transaction. When using Google Pay you can be sure your card details are protected.
You can withdraw cash in Coop stores using Google Pay. To do this, you’ll need to make a purchase. You can withdraw up to €100 per transaction.
Cash deposits can’t be made in Coop stores with Google Pay – only with a physical card.
However, you can use ATMs that enable contactless payments. Simply open Wallet, place your smart device on the contactless interface, enter your PIN (which you can safely check at any time in the app) and withdraw the cash you need.
The limit is the same as your card’s payment limit or monthly limit. You can check and change these in the Internet bank and app.
The same rules apply as when you pay with your card.
You can use Google Pay on any Android device that has the Android 5.0 (or newer) operating system. NFC has to be switched on as well.