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Opening a settlement account is the first stop in order to use daily banking products. All the banking services needed for handling your daily money matters – settlement of payments, bank cards, saving – are linked to your settlement account. If you have a settlement account, you can use Coop Pank bank cards and Internet and mobile bank and deposit funds.

To open an account, you have to identify yourself by visiting our branches or banking points located at select Coop shops. When you come to the branch, please remember to bring with you your identity document: ID card, passport or driver's licence.

Further information

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Our banking plans combined in one service fee all the important daily banking services – settlement account, card payments, transfers and cash transactions. Our plans are designed to provide reliability and convenience, while making the banking service also more affordable.

In order for you to consume your daily banking services on more favourable terms, we advise you to choose a banking plan that is suitable specifically for you.

The Rahn Plan is suitable for you if you mostly perform your banking operations in Estonia. If you choose this plan, you don’t have to worry that you’ll be charged extra for everyday services.

Choose the Rändrahn Plan if you’re active both in Estonia and abroad. The Rändrahn Plan is particularly good if you travel a lot and often make purchases online.

The plan also gives you access to the biggest cash network in Estonia.

Funds in a settlement account generates interest. Interest is calculated on the minimum balance of the month and rounded to two decimal places.

Interest calculated in an amount below 0.05 euros in a month is not disbursed and is not transferred to the following period.

Funds in settlement accounts and deposits are guaranteed by the Guarantee Fund, which will indemnify deposits 100% but not more than 100 000 euros per depositor at any one credit institution.

Detailed information is available at the website of the Guarantee Fund at

For a child, an account may be opened by their parent (legal representative). To open an account for their child, a parent has to submit their child’s birth certificate and their own identity document. If the child is at least 6 years of age, a Coop Pank debit card may be ordered for the child, and the parent may set suitable daily and monthly limits for it. The first account and card are opened for a child for no fee; there is also no monthly fee when a plan is signed up for. To save funds for a child, a children’s deposit may be opened at Coop Pank.

From 1 January, 2018 the interest income from demand and term deposits of private individuals will we taxable with income tax. The obligation to tax extends also to those agreements that were concluded before 1 January, 2018, but interests of which will be paid in 2018 or later.

The bank withholds the income tax at the moment of making interest payment for settlement or deposit account, and transfers it to the Tax and Customs Board. Client does not have to take any additional actions for paying the income tax. The income tax rate for interests is 20%.

By opening deposits from your investment account, you can postpone the payment of income tax for earned interests. The owner of investment account must calculate the interests and declare all contributions to and payments from the investment account. The obligation to pay income tax arises, when the amount of contributions to the investment account exceeds the amount of payments from the account. To start using investment account, one should open a new settlement account in the bank, determine this as an investment account and to make transactions with financial assets, from which you wish to postpone the income tax, through this account.

For further questions please consult the Income Tax Act and contact the Tax and Customs Board.

Review the terms and conditions of Coop Pank's Settlement Agreement.

Review Coop Pank's price list.