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Transfer of settlement services

Transferring the settlement of payments to Coop Pank is easy: you can transfer from your existing bank a settlement account, electronic invoice fixed payment agreements or standing orders.

When you transfer your payment settlement services, you can choose whether you transfer to Coop Pank the settlement of all your payments or just some of them. Once this decision has been made, submit a relevant request to Coop Pank, and we will communicate with your former bank on your behalf.

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Further information

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During the transfer of your settlement account, your settlement account at your former bank will be closed, and a new account will be opened at Coop Pank: as a result of the transfer, your account number will change.

In order for amounts deposited to reach your settlement account at Coop Pank going forward, remember to notify your employer. To have your benefits, pensions or parental benefits redirected to your new settlement account, you have to notify the Estonian National Social Insurance Board.

The form needed for this is available on the website of the Estonian National Social Insurance Board.

It may not be possible to transfer the settlement of all payments, for example, if credit, deposit or securities account management agreements have been concluded at the current bank.

If the settlement of all payments cannot be transferred, this may be done also in part. In this case, only chosen electronic invoice fixed payment or standing order agreements may be transferred, with the settlement account at the former bank remaining in effect.

The transfer of payment settlement services from another bank is not possible

  • if your settlement account has been frozen or
  • if you have any debts towards your current bank

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