Coop Pank to cease offering operating deposit service

As of 1 April 2024, Coop Pank will be terminating all of its operating deposit agreements and closing all related deposit accounts. On the final day of the agreement the bank will transfer the amount in the operating deposit and any interest to the current account linked to the agreement before closing the deposit account.

If a standing order has been set up in Coop Pank for the deposit account, it will automatically end with the closure of the deposit account.

In place of the operating deposit, Coop Pank has created an innovative and more flexible saving solution known as the Cash Drawer. The Cash Drawer is a deposit in which the yield on savings currently stands at 2% per annum. There are a number of ways of saving money in the deposit which can be personalised according to your preferences, and you can withdraw money from the deposit at any time free of charge by providing just one day’s notice. The Cash Drawer will earn your savings a higher yield than the operating deposit and guarantees flexibility in the use of your money. For the moment, a Cash Drawer deposit cannot be opened in our Internet bank: instead, one can be set up in our mobile app or at any of our branches.

If you have any questions, e-mail us at klienditugi@cooppank.ee or call us on 669 0966 (8:30-19:00 Monday-Friday).

The updated price list can be viewed here.