Coop Pank’s general terms and conditions will change on 1 May 2025

The main changes are as follows:

• we have specified the conditions for entering into a basic payment service agreement with a private person (in clauses 4.9. to 4.12.) and the conditions for cancellation of a basic payment service agreement of a private person (in clauses 13.3. and 13.4. and clauses 13.7. and 13.8.);
• we updated the grounds for refusing to conclude a non-basic payment service agreement and for blocking services (in clauses 4.5.12. and 4.5.13. and in clauses 7.1.4.2. and 7.1.4.16);
• we clarified in greater detail the situations in which a bank can refuse to execute a transaction requested by a client. In particular, we have added to the terms and conditions the situations where a client, when requested by the bank, is unable to explain to the bank in a credible manner the content, purpose or necessity of their transactions and/or to convince the bank that the transaction complies with the bank’s risk appetite (clauses 6.9. and 6.14.);
• we updated and specified the conditions of the extraordinary cancellation of a non-basic payment service agreement (in clauses 13.2.2., 13.2.3. and 13.2.6.), highlighting the execution of transactions by the client on behalf and in the interests of a third party and the failure of the client to eliminate suspicions related to ostensible activities, falsification, tax evasion or other breaches of legislation as separate reasons for cancellation. The bank also deems it a material breach of contract if, in the opinion of the bank, the client or the client’s business partner fails to take sufficient measures to ensure the compliance of their activities with effective sanctions or if the related circumstances refer to possible circumvention of sanctions.

The new terms and conditions can be viewed here.

If you have any questions, please contact our client support by email at klienditugi@cooppank.ee or call us on 669 0966 (8:30–19:00 Monday–Friday).