Swedbank AS (Estonia)

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Swedbank AS (Estonia)

Swedbank is a modern bank that traces back to the savings banks of Europe, it is a part of Swedbank Group and is one of the world’s biggest banks in the Nordic financial services market. The bank serves 7.8 million individuals and more than 600 thousand organizations. Due to the establishment of the strong and lasting relationships with clients, the bank has a wide network of branches and successfully formed network of services that are provided via the Internet and by telephone (including mobile phone).

Types of bank accounts

Personal, corporate (all accounts are multicurrency).

The cost of opening of the account (bank tariff)

For natural persons – residents of Estonia and EU countries (including Norway, Iceland, Liechtenstein, Switzerland) – free of charge.

For natural persons – non-residents of other countries – 200 EUR.

For legal entities – non-residents of Estonia (EU countries, except for countries: Cyprus, Malta, Luxembourg, Great Britain and Northern Ireland) – 30 EUR.

For legal entities – non-residents of other countries (including countries: Cyprus, Malta, Luxembourg, Great Britain and Northern Ireland), as well as for offshore companies – 300 EUR.

Initial deposit and minimum balance:

For natural persons – non-residents – 100 000 EUR.

This amount can be credited to the account within 1-2 months from the moment of the account activation. If the amount of the funds on the account is less than 100 000 EUR, the binding legal relationship with Estonia is required (i.e. workplace, Estonian resident company, real estate in Estonia, etc.).

For legal entities – non-residents – 500 000 EUR.

This amount can be credited to the account within 1 month from the moment of the account activation. Connection with Estonia is considered to be a great advantage when opening an account.

Representative offices

Sweden: Stockholm.

Russia: Moscow, St. Petersburg, Kaliningrad, Krasnodar.

Latvia: Riga.

Lithuania: Vilnius.

Management of the account

With the means of Internet-banking.

Bank's tariffs

Account maintenance for natural persons – free of charge.

Account maintenance for legal entities – non-residents (except for financial institutions registered in Norway, Cyprus, Malta, Luxembourg, the UK and beyond countries – EU member states) – 51,13 EUR/month.

Account maintenance for legal entities – non-residents, registered in EU – free of charge.

 

Transfers (EUR):

if the beneficiary's bank is located in the EU as well as in Norway, Iceland, Liechtenstein, Switzerland, Aland Islands, Azores, Ceuta and Melilla, Gibraltar, Guadeloupe, the Canary Islands, Madeira, Martinique, French Guyana, Reunion:

standard – 0,38 EUR;

urgent: up to 10000 EUR (incl.) – 7 EUR, more than 10000 EUR – 30 EUR.

if the beneficiary's bank is located outside the EU:

standard – 23,01 EUR;

urgent – 28,76 EUR;

express – 44,74 EUR.

 

For detailed information, please visit the bank web site.

Terms of opening the account

The procedure of opening the account starts with the preliminary stage, which includes the process of gathering and presentation of the client’s documents required for the account opening. The terms of the preparatory stage depend on the client.

The decision as of account opening takes from 5 to 10 banking days from the moment all required filed have been submitted to the bank.

Swedbank adheres to the «know your client» principle and thus you may be requested any additional information or documents. This may extend the process of the account opening. Furthermore, bank also may refuse to open the account without any explanations.

Staff

Russian/English speaking.

Credit/debit cards

MasterCard, Maestro, Visa, American Express.

For more detailed information on bank cards please visit bank's web site.

Other bank’s products

Deposits, loans, safe deposit boxes, factoring, leasing, operations with securities, derivative transactions, investment, Private Banking, Private Wealth Management, etc.

Documents for opening an account

Forms are available for signature at the bank during a personal meeting.

Company’s documents – originals of all company’s statutory documents need to be provided and Certificate of Good Standing with Apostil is required.

Documents for the account holder:

- original of national passport;

- original of foreign passport;

- proof of employment;

- if beneficiary holds a resident company, the Certificate of Incorporation and Articles of Association of the company are required.

 

Documents for the beneficiary:

original of national passport;

- original of foreign passport;

- proof of employment;

- if beneficiary holds a resident company, the Certificate of Incorporation and Articles of Association of the company are required.

The procedure of opening an account

Swedbank offers corporate accounts to non-resident companies (offshore companies) in the event that the company is working only in one field. The bank does not cooperate with the companies in which the main business activities are consulting, financial services, e-shops, web money, gambling. If the company’s main business activities are trade or transport activities, such a company must provide contracts and shipping documents to confirm their activity.

To start the procedure you need to visit the office of Campio Group in order to fill in the questionnaire and make the preliminary check of the documents for account opening. Filled questionnaire is sent to the bank for a decision. If the bank takes a positive decision, the attorney and the beneficiary shall visit the head office of the bank in Estonia or a representative office in Moscow to sign the bank forms.

Bank site

www.swedbank.ee