Bank account in Finland – online banking codes, the basic account and strong identification
Last updated 25 September 2026Rules checked every MondayOfficial sourcesSources & methodology →
Your online banking codes will open more doors in Finland than your passport: they log you in to Kela, Vero and the police. Getting them is a separate decision from getting the account, and the law is on your side for both. Here is how the basic payment account works, and what to do while you wait.
In Finland the bank account and the online banking codes (verkkopankkitunnukset) that come with it are two different things. The codes are the everyday electronic identity: they log you in to Suomi.fi e-Identification, the shared login for public e-services, and so to Kela (Social Insurance Institution), Vero (Tax Administration) and the police. Opening a bank account in Finland is a legal right for anyone legally resident in the EEA, and strong identification can be refused only on narrow grounds. The rules are national, set in the Act on Credit Institutions and supervised by the Financial Supervisory Authority (Finanssivalvonta).
Kela pays no benefits in cash, so it wants a Finnish bank account and a henkilötunnus (personal identity code) before you apply for anything – and DVV (Digital and Population Data Services Agency, in Swedish Myndigheten för digitalisering och befolkningsdata) will not speed up your registration because a bank is waiting.
What do you need to open a bank account in Finland?
Bring a passport, a foreigner's identity card or another official identity document; InfoFinland, the authorities' joint guidance service, is blunt that a driving licence will not do, and each bank decides which documents it accepts. Some banks also accept an alien's passport or a refugee travel document issued by a Finnish authority. Opening an account takes an in-person appointment, says the City of Helsinki's Newcomer's Guide. By law the bank must know its customer: it will ask what the account is for, may check your credit history, and may not open the account if you do not answer.
| The bank will ask for | Why |
|---|---|
| Name, address, personal identity code or other ID number, nationality | Anti-money-laundering law |
| Whether you hold a prominent public position | Politically exposed persons are checked more closely |
| Your situation – employee, student, pensioner – and whether this is your main bank | Normal use of the account |
| Where your money comes from and your regular payment flows | Origin of funds |
| Expected volume of payments, including foreign payments and their purpose | To spot unusual activity |
Source: the Financial Supervisory Authority and InfoFinland, read 24 September 2026.
The basic payment account – a right, not a favour
A deposit bank that offers payment services must offer a euro perusmaksutili (basic payment account) to every consumer legally resident in an EEA state, on equal terms and without discrimination. It may refuse essentially only for anti-money-laundering reasons, such as an identity it cannot verify. Under chapter 15, section 6 of the Act on Credit Institutions it must accept or reject your application at the latest within ten banking days, and a refusal must be explained in writing, free of charge, together with how to appeal.
| Basic banking services | What the law says |
|---|---|
| Basic payment account with a debit card and online banking codes | Must be offered; fees must be reasonable and reflect the bank's real costs |
| Cash deposits and withdrawals, payments | Included; the number of transactions may not be limited |
| Strong electronic identification | Must be offered to basic-account customers if the bank offers it to anyone |
| Credit account or credit card | Not a basic service |
| Closing the account | At any time, free of charge |
| Termination by the bank | Only after 24 months without transactions, or if you no longer live legally in the EEA; two months' written notice |
Source: the Financial Supervisory Authority and Finlex (Act on Credit Institutions 610/2014), read 24 September 2026.
Why can a bank give you an account but refuse online banking codes?
Because the law treats them separately. The requirements for online banking credentials are stricter than for the account, so some newcomers leave the branch with an account and no codes. A bank may refuse strong electronic identification – codes that work in other services, not only its own – if, for example, you have no Finnish personal identity code or are not in the Population Information System. It must then offer a limited electronic ID for its own services; once your code and registration are in place, ask again. Codes used for Suomi.fi must be issued personally to you and be suitable for other services.
Take phishing seriously: the Financial Supervisory Authority calls the fishing of online banking codes the most common scam in Finland. No bank or authority ever asks for your codes by phone or e-mail, so never log in through a link in a message, and never let anyone take remote control of your device.
Strong identification without banking codes: the alternatives
Suomi.fi e-Identification is free for private individuals and accepts several tokens.
| Token | Who can use it | What you need |
|---|---|---|
| Finnish online banking codes | Bank customers with a personal identity code | Personal codes suitable for other services |
| Mobile certificate (mobiilivarmenne) | Customers of DNA, Elisa or Telia | Finnish online banking codes to activate it; not on a prepaid subscription |
| Finnish ID card with citizen certificate | Finnish citizens; foreigners permanently resident with a valid permit or registered right of residence | Activate the certificate, then use the mobile app or a card reader with DVV's free software |
| Tokens of 21 other European countries (eIDAS) | Citizens of, for example, Estonia, Germany, Sweden and Spain | Only in e-services that allow foreign users |
| Finnish Authenticator app | Foreigners aged 18 or over with no Finnish code or token | A passport or EU, EEA, UK or Swiss ID card to photograph; not strong identification |
Source: Suomi.fi and DVV, read 24 September 2026.
The ID card is the alternative worth planning for. The police issue a foreigner's identity card if your identity can be reliably verified, you hold a valid residence permit, residence card or registered right of residence, and you have a kotikunta (municipality of residence) and are entered in the Population Information System. It proves your identity in Finland – at the bank, for instance – but is not a travel document; it is usually valid for five years and expires if your permit or registration is cancelled. Apply online with Suomi.fi identification or at any police station; the helpline for appointments is +358 (0)295 419 800, Monday to Friday 8.00–16.15. In Helsinki, newcomers go to the Helsinki Police Department at Pasilanraitio 11, not to International House Helsinki.
| Police fee (2026) | At a station | Online |
|---|---|---|
| Foreigner's identity card, normal delivery | €59 | €53 |
| Rapid delivery | €77 | €71 |
| Express delivery | €96 | €90 |
| Standard identity card | €59 | €53 |
Source: the Finnish Police, read 24 September 2026.
Paying in Finland: cards, MobilePay and cash
Electronic payment in Finland rests on credit transfers and card payments; Finland is part of SEPA, so a euro payment to another SEPA country follows the same rules as a domestic one. Paying even small purchases by card is normal and in most places you do not need cash. Many branches no longer handle cash and only TalletusOtto machines take cash deposits, notes the City of Helsinki's Newcomer's Guide; from €1,000 a deposit requires an identity check.
MobilePay is widely used: in a presentation to the Bank of Finland's Payments Council on 10 October 2025, Vipps MobilePay reported 2.8 million users in Finland and 145 million transactions so far that year, 44 per cent of them to businesses. The figures are the company's own, and so are its sign-up conditions. No general legal duty to accept cash appears on the authorities' pages; the Bank of Finland's policy statement is that cash must always be accepted at least for essential everyday purchases.
Free banking and insurance advice in Finnish, Swedish and English comes from the Finnish Financial Ombudsman Bureau (FINE) on 09 6850 120, Monday to Thursday 10.00–15.00.
What to do now
| Step | What | When |
|---|---|---|
| 1 | Get your henkilötunnus and DVV registration (part 3) | Before you book the bank |
| 2 | Book an in-person appointment; bring your passport or foreigner's ID card | Your first week |
| 3 | Answer the know-your-customer questions; ask for codes usable in other services | At the appointment |
| 4 | If refused: ask for the reason in writing and a limited e-ID | When the bank answers – at most ten banking days |
| 5 | Apply for the foreigner's ID card as a second token (€53 online) | Once you have a kotikunta |
| 6 | Activate a mobile certificate, then MobilePay | When the codes work |
Source: the Financial Supervisory Authority, the Finnish Police and Suomi.fi, read 24 September 2026.
Official sources
The official pages this guide is based on, read 24 September 2026. Links open the authority’s own website.
- InfoFinland (City of Helsinki / KEHA Centre) – Everyday life in Finland · infofinland.fi
- Finanssivalvonta (Financial Supervisory Authority) – Peruspankkipalvelut · finanssivalvonta.fi
- Finlex – Laki luottolaitostoiminnasta 610/2014, 15 luku 6 § · finlex.fi
- Finanssivalvonta – Asiakkaan tunnistaminen ja tunteminen · finanssivalvonta.fi
- Suomi.fi – Information on identification tokens used in Suomi.fi e-Identification · suomi.fi
- Suomi.fi – Activating Finnish online banking codes · suomi.fi
- Suomi.fi – Activating a mobile certificate · suomi.fi
- Suomi.fi – Using the Finnish Authenticator application as an identification token · suomi.fi
- Suomi.fi – Using the identification tokens of other European countries in Finland · suomi.fi
- Suomi.fi – Using an ID card issued by the Police as an identification token · suomi.fi
- Suomi.fi / DVV – Using an ID card as an identification token; Citizen Certificate and electronic identity · dvv.fi
- Poliisi – How to apply for an identity card (fees) · poliisi.fi
- Poliisi – Apply for an identity card / How to apply for an identity card · poliisi.fi
- Poliisi – How to use the identity card · poliisi.fi
- DVV – Certificate of personal residence information · dvv.fi
- InfoFinland – Registering as a resident · infofinland.fi
- DVV – Municipality of residence · dvv.fi
- International House Helsinki (City of Helsinki) – IHH service point; IHH’s service point opens in Pasila · ihhelsinki.fi
- International House Helsinki / City of Helsinki – Newcomer’s Guide (PDF, 6th corrected edition, Helsinki 2026) · ihhelsinki.fi
- Suomen Pankki (Bank of Finland) – Payments Council meeting 10.10.2025, presentation by Vipps MobilePay (PDF) · suomenpankki.fi
- Suomen Pankki (Bank of Finland) – Electronic payment methods · suomenpankki.fi
- Finanssivalvonta – Yleisiä huijauksia · finanssivalvonta.fi
- InfoFinland – Moving house · infofinland.fi
- Job Market Finland (KEHA Centre) – Handling official matters and registering as a job seeker · tyomarkkinatori.fi
Relocate in Europe provides general information, not legal or financial advice for your individual situation. Check with the authority named above before you act – rules change, and your case may differ.