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Late reply but maybe I can help someone:

You need an ID. To open a personal account I think, (but I'm not certain), that you need an Estonian ID.

You can open one the same day. The procedure takes 30 minutes.

I don't know anything about loans.

There are a lot of Scandinavian banks here. SEB, Swedbank, Nordea, Sampo. There are also a Baltic bank, LHV, I think its called.

I use SEB as it is very near me but I don't think there are that many differences between them as their all crooks. ;-)

Hi DavidTheSwede!

Thanks a lot for your help

Armand

From Swedbank, I was told that you can take a loan with 6 months proof of income.聽 Additionally, the loan must be paid in full by the time your visa expires.聽 Hope this helps.

Thanks for your contribution Breck!

Harmonie.

I am going to be in Tallinn for about 3 months. Should I open a bank account just for that amount of time? I think that I should, but I'm not sure how to go about things. Anyone have any suggestions? Thank you!

Here are a few tips to opening a bank account in Estonia.

First off, Yes, You need one if you plan to stay, rent an apartment, pay bills, buy gas etc.

1. Most, if not all, bills are paid via your netbank. So it is heavily suggested you follow through with this.
2. If you plan to buy or own a car in Estonia, understand that purchasing gas can be a hassle with Cash, a lot of pumps can use pre-pay cash via an automated machine, but a card certainly makes it easier.
3. Overall, since Estonia is much an E-state, you will find that having a bank account is more suitable to the needs and payment systems within Estonia.

Now to the questions:
Is it difficult for Expats to open a bank account in Estonia?

Yes, and No, if American: yes, it can be more difficult simply because in the past, many Americans transferred funds to overseas bank accounts for tax evasion. Many nordic banks who operate in Estonia restrict Americans whom open accounts with them, more notably, Swedish or Swiss banks. But Finnish owned banks do not have particular restrictions to Americans. (namely: Nordea)

Which documents are required to open a bank account?
For American Citizens, if you do not have an ID card yet and the bank allows for Americans to open an account, it is not a problem, a passport is all that is required, and that should take care of most of it. They may require an address from you in the country to confirm this, but at a later date you can change the address to a foreign address which is highly recommended when you move, and banks don't normally have a problem with this.

How long does it take to open it?
Between 20-30 mins, easy and clean and simple.

Is there any restrictions to Expats regarding loans and services?
In most cases, the banks here will treat you a bit like a credit union. They will see how long you've been a customer, how much money you make monthly, and like anybody else give you a certain period of time before you can apply for a loan. You can easily obtain a credit card through them as well if you make the proper minimum requirements in salary monthly. In most cases, a large loan will require a co-signer and collateral. If you lack two of these and don't make much money and do not have a permanent residency permit, don't count on any large loans to follow through.

Which bank would you recommend?
I recommend Nordea (Finnish bank) for Americans

so you need an estonian bank account to rent an apartment, but need an apartment(adress in estonia?) to get a bank account? Am i wrong?
Is`nt this a problem?

It certainly isn't a problem,

I paid my first couple of months rent in cash. But, you will definitely need one to pay for certain utilities.

Get address, pay cash, open bank account.

I AM ONTRESTED TO OPEN THE ACCOUNT IN ESTONIA.

Hello komal91075 and welcome on board.

Think that the messages above might give you a hint.

Thanks

Karen

Thank you cjacobs86.聽 I can't tell you how helpful this information is.

Allie