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.