How to open a business account in Finland, step by step

Snapshot

To open a business account in Finland you usually register the company, get a Finnish business ID known as the Y tunnus, choose a bank or online provider, and pass identity and anti money laundering checks. Online providers such as Wise Business, Revolut Business, and Holvi can be quick, while a traditional bank such as OP or Nordea suits lending or a full relationship.

Business ID: Y tunnus issued when the company registers with the Trade Register at the PRH
Core documents: Trade register extract under three months old, identity document, and a description of the business
Typical time: A few days with an online provider once registered, longer at a traditional bank
Charged in: Euro (EUR), with euro transfers run as SEPA payments

Fees and features as of 13 March 2026Last reviewed 13 March 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

As of 13 March 2026, opening a business account in Finland follows a clear path. First register the company so it receives a Finnish business ID, the Y tunnus, from the Trade Register at the Finnish Patent and Registration Office. Then choose a provider, prepare a trade register extract under three months old, an identity document, and a short description of the business, and complete identity and anti money laundering checks. Online providers such as Wise Business, Revolut Business, and Holvi can onboard in a few days, while OP, Nordea, Danske Bank, and Aktia suit those needing lending or a paid in share capital deposit. Confirm current requirements with the provider.

Steps to open a business account in Finland

The process is similar across providers, with the detail and speed varying. As of 13 March 2026, the usual steps are below. Confirm the exact requirements with your chosen provider, since they change.

Register the company with the Trade Register at the Finnish Patent and Registration Office and receive the Finnish business ID, the Y tunnus.
Choose a provider that fits your needs, whether an online account for speed or a traditional bank for lending and a full relationship.
Gather your documents, including a trade register extract, an identity document, and a description of the business and its owners.
Apply online or in branch and complete identity and anti money laundering checks, including beneficial owner details.
Receive your IBAN and activate cards and online banking once the provider approves the account.

Documents you usually need

Requirements vary, but most providers ask for a similar core set, as of 13 March 2026. Verify with the provider

An extract from the Trade Register, usually under three months old, showing the company and its signatories.
A valid identity document, such as a passport, for each person who controls or represents the company.
Details of the beneficial owners and a short description of the business activity.

How long it takes and what to expect

A company can be registered in a few business days, and an online provider can often open the account within a few days after that, once checks pass. A traditional bank can take longer, especially where the structure is complex or an owner lives outside the EEA. As of 13 March 2026, plan for extra time if company roles need EEA residency or permission from the Finnish Patent and Registration Office. Confirm timelines with the provider.

Compare business accounts available in Finland

These providers accept business customers in Finland. Fees and eligibility shown as of 13 March 2026. Confirm current terms with the provider before applying.

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Questions about business banking in Finland

What do I need to open a business account in Finland?

You usually need a registered company with a Finnish business ID, a trade register extract under three months old, an identity document, and details of the beneficial owners. Online providers and traditional banks differ on the detail, so confirm the list with the provider, as of 13 March 2026. This is general information, not advice.

What is the Y tunnus?

The Y tunnus is the Finnish business ID issued when a company registers with the Trade Register at the Finnish Patent and Registration Office. It is used for contracts, invoicing, value added tax, and opening a bank account. Verify your details with the register, as of 13 March 2026.

How long does it take to open a business account in Finland?

An online provider can often open an account within a few days once your company is registered and checks pass, while a traditional bank can take longer. Timelines depend on your structure and identity checks, so confirm with the provider, as of 13 March 2026.

Can I open the account fully online?

Often yes with an online provider such as Wise Business, Revolut Business, or Holvi, where identity checks are done remotely. Some traditional banks may ask for a branch visit or extra steps. Confirm the process with the provider, as of 13 March 2026. This is general information, not advice.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 13 March 2026. Confirm current terms with the provider before applying.