Banking is the most common challenge for Estonia e-resident company owners. Traditional Estonian banks have become selective for non-residents, but excellent alternatives exist. Here's the definitive NRI guide for 2025.
Why Traditional Estonian Banks Are Difficult
LHV, SEB, and Swedbank — Estonia's main traditional banks — have tightened their onboarding for e-resident companies due to AML compliance requirements. They now require a genuine connection to Estonia (employees, clients, or suppliers in Estonia) for most e-resident applicants.
Best Banking Options for Estonia e-Resident Companies
Wise Business (Recommended)
Wise Business is the most popular banking solution for e-resident companies. It offers multi-currency accounts in 40+ currencies, local account details in EUR, GBP, USD, and more, and competitive FX rates. Wise is not a bank but a licensed e-money institution — funds are safeguarded but not FSCS/deposit-insured. Account opening: 1–2 weeks online.
Revolut Business
Revolut Business offers multi-currency accounts, corporate cards, and expense management. Good for businesses with high transaction volumes and multiple currencies. Account opening: 1–2 weeks online.
LHV Bank
LHV is the most e-resident-friendly traditional Estonian bank. It accepts e-resident companies with a clear business plan and genuine business activity. Offers SEPA transfers, EUR accounts, and business loans. Account opening: 2–4 weeks.
Payoneer
For e-commerce and freelance businesses, Payoneer provides a simple multi-currency receiving account. Good for receiving payments from Amazon, Upwork, Fiverr, and similar platforms.
What You Need to Open an Account
- e-Residency card (active)
- Certificate of Incorporation
- Business description and anticipated transaction volumes
- Source of funds declaration
- Proof of clients or business activity
Blueberry's Banking Guidance
Blueberry advises on the optimal banking solution for your Estonia company based on your business model and transaction needs. Our Estonia package includes banking guidance →
Also read: Complete Guide to Estonia Company Formation | Estonia e-Residency Explained | Annual Compliance for Your Estonia Company