Make preparations for money transfers before your arrival!
Finland is part of the Single Euro Payments Area, SEPA. For students coming from EU/EAA countries we recommend arranging online banking possibility for your own domestic account.
With the SEPA
- the money transfers should be fast and easy
- you can use their cards to pay for shopping in all SEPA countries in the same way as at home
- you can use bank services through your own bank with International Bank Account Number (IBAN) and Bank Identifier Code (BIC).
An account number in the IBAN format can be identified by the two-letter country code at the beginning of the number sequence. The length of the IBAN varies from country to country. The Finnish IBAN is 18 characters long and it always begins with the country code FI.
BIC stands for Bank Identifier Code. The length of a BIC is always 8 or 11 characters. The first six characters are letters and the rest are letters and/or numbers. Payments to the EU and EEA countries cannot be made without the IBAN and the BIC. It is the sending bank’s responsibility to reject the payments of its customers that do not have the required information.
Banks in Turku
service desks in Prisma department stores
Cash Withdrawal, use OTTO!
You can use Finnish bank cards or credit cards to withdraw money from self-service cash machines known as OTTO (pankkiautomaatti). OTTO serves you also in English.
OTTO provides you cash 24/7 if you have a card that allows
international ATM withdrawals and carries one of the following logos:
International Credit and Payment Cards
The main international credit and payment cards accepted in Finland are Visa and Master Card and some of the brands’ sub cards like Visa Electron and Maestro. These cards are accepted in major department stores and restaurants. Please check beforehand with the place where you wish to do your purchase if they accept the card you want to use.
The money exchange bureau in Turku: Forex, Eerikinkatu 13. Tel. 0600 550095 (1,99€/min+lnc). More information FOREX.
Opening a Bank Account
Opening the bank account in Finland the bank officer will need to see your personal data, relevant documents, passport/ID and nearly all the banks also require Finnish ID code and address in Finland.
- Finnish ID code
- Certificate of EU registration
- Address in Finland
- Passport / Identification papers
- Certificates of your registration (students)
- Certificates of scholarship (students)
- Employment contract (personnel)
- Residence permit (non EU arrivals)
Banks have an interest to know their customers before opening the account so take the documents with you to explain your source of financing so please take all necessary documents about your income with you.
Comparing the banks is sometimes a bit difficult, but most of them offer students and young people under 28 years a self-service packages free of charge. These include an ATM-card, usually Visa Electron, for cash withdrawals and paying of bills through on-line services. For further additional services a fee will be charged. Opening a bank account is free of charge. For further additional services a fee will be charged.
In Finland it is not possible to pay with cheque. If you do need to deposit a cheque into your account it can be a lengthy and expensive process, and may require an appointment with a bank officer. This is mainly done through on-line services with personal netbank accounts, mobilfe phone or through e-invoices.
The easiest and cheapest way to pay your bills is netbanking. Please notice that the fee for a payment made at the bank counter by a bank official varies from 6 - 8 euros.