Coop Pank makes opening accounts easier for business customers

Erje Mettas, head of day-to-day business banking at Coop Pank, said that approximately 3,000 new clients open current accounts at Coop Pank every month: already now more than half of them prefer to open accounts online, and the number of such clients is growing. “In the past, private clients could conveniently and quickly open accounts on the Coop Pank website, while business clients only had the opportunity to start the process of opening an account online, but then they still had to come to the bank office or branch to verify their identity. From now on, the entire process of opening a bank account on our website will be convenient and fast also for business customers – it only takes three minutes,” added Mettas.

A business client account with Coop Pank can be opened online by all legal entities registered in Estonia. Business clients operating in certain limited areas of activity, as well as those owned by legal entities from another country or by individuals without a residence permit, must still visit a bank branch in order to open an account. Business customers who open a bank account online can make payments of up to € 25,000 per month. If a business client plans to make payments in a larger amount, such a client still must visit a Coop Pank office or branch for identification. In total, Coop Pank has 15 offices and 12 banking points throughout Estonia.

Coop Pank offers its business clients free settlements, flexible financial solutions and pays the highest interest in Estonia on the company’s current account balance. With Coop Pank’s free business plan, a company can make unlimited instant payments between banks across Europe, consolidated and bulk payments, as well as accept payments via bank links and use a free debit card. In addition, Coop Pank pays a higher interest rate on term deposits to business clients than other major banks – currently up to 3.2%.

At the cash registers of Coop stores throughout Estonia, a business customer of Coop Pank can deposit up to € 4,000 per month to their bank account without a service fee and up to a total of € 10,000 per month. Among other financial products, Coop Pank offers business clients overdrafts, working capital loans, investment loans, leasing, factoring, bank guarantees, loans for seasonal work as well as loans for apartment associations. In addition, each business client of Coop Pank has a personal administrator who is always ready to provide advice and is available in every corner of Estonia.