What is a business bank account in Estonia?
After the company is registered in Estonia, one of the first practical tasks is opening a business bank account that works reliably for e-Residents. A dedicated business bank account separates company funds from personal funds and makes bookkeeping and tax reporting more straightforward.
For many Estonian companies managed remotely, a traditional local bank is not the only option. Modern financial service providers offer business bank account solutions with remote onboarding, online verification and digital contracts.
What to consider before choosing a business bank account
When selecting a business bank account for your Estonian company, it is reasonable to consider at least the following aspects.
- Location of customers and suppliers (EEA, UK, other regions).
- Currencies needed for incoming and outgoing payments.
- Expected monthly payment volumes and typical transaction sizes.
- Need for card payments, ATM cash withdrawals and online subscriptions.
- Reporting and accounting needs, including export of bank statements.
In practice, many e-Residents start with one main business bank account and later add a second provider if the business grows or new markets are added.
Best business bank account options in Estonia
Below is an overview of two commonly used business bank account options among our clients: Narvi and Wise. Both support Estonian companies and are suitable for international founders who manage their business from abroad.
Narvi – business bank account for Estonian companies
Suitable for newly established Estonian OÜ and digital-first businesses looking for a straightforward business bank account.
Narvi is a financial service provider focused on European companies, including those established by Estonian e-Residents. The service is designed for remote onboarding and everyday business payments within the SEPA area.
- SEPA business bank account for your Estonian company.
- Debit card for business expenses and online payments.
- Onboarding process designed for international founders.
- User interface that is straightforward for smaller companies.
Narvi is often suitable as a primary business bank account during the first years of the company, especially when the business is oriented towards European customers and suppliers and the payment flows are relatively simple.
Apply for Narvi business accountThis is a partner link. There is no additional cost for you.
Wise Business – multi-currency business bank account
Suitable for companies that receive and send payments in several currencies and need a flexible business bank account.
Wise Business offers a multi-currency account that can be used by Estonian companies for receiving and sending payments worldwide. It is particularly practical if your clients are located in different countries and pay in various currencies.
- Local account details in multiple currencies, depending on Wise terms.
- SEPA transfers and international payments with transparent fees.
- Possibility to hold and convert balances in several currencies.
- Useful for online services, marketplaces and remote clients.
Wise is often used either as a main business bank account for international online businesses or as an additional account next to another provider, for example when a company starts working with new markets.
Open Wise Business accountThis is a partner link. There is no additional cost for you.
Using one or several business bank accounts
In practice, Estonian companies managed by e-Residents often use one main business bank account and a second provider for specific use cases. For example:
- Primary SEPA business bank account with Narvi and an additional multi-currency account with Wise.
- Wise as the main business bank account for international online revenue, Narvi for more traditional European payments.
The optimal structure depends on the business model, payment methods used by your customers and the countries where the company operates.
How this business bank account choice fits with your Estonian company
Opening a business bank account is usually done after the company has been registered in the Estonian Commercial Register. The service provider may ask for information about the owners, management, business model, expected volumes and source of funds as part of their standard due diligence.
If you are just in the planning phase, you can first complete the company formation and then select the most suitable business bank account based on your actual contracts, clients and payment flows.
If you have questions about the legal address or contact person services for your Estonian company, you can review our packages on the virtual office page or contact us for more detailed information.
Summary
A clear and well-chosen business bank account is an essential tool for running an Estonian company as an e-Resident. Narvi and Wise both offer trusted and efficient solutions that can be combined if necessary. Reviewing your markets, currencies and payment flows will help you decide which business bank account setup is the most practical for your situation.
Information on this page is based on general practice and publicly available details at the time of writing. Service providers may change their conditions, fees or eligibility criteria, so please review the latest terms on the Narvi and Wise websites before making decisions.