Current account
Current account is the account, which is the centre of all our provided services. A current account is for making money transfers and cash transactions, depositing and managing finances via Internet Bank.
Advantages
- Safely manage and transfer your company’s funds
- Easy managing in different digital channelsOpen additional current accounts to separate the funds for different purposes or projects
- Get account statements and transaction information in the most convenient way and format for you.
Multi currency account options
- Receive domestic and cross-border payments either converted into euros or in the received foreign currency
- Add additional currencies and make payments in various currencies from a single account
- Buy and sell foreign currency
When calculating interest, a base of A/360 is used. Interest is paid for the actual number of days.
Current account interest rate for private clients
On the balance of an EUR current account, the interest rate is 0.01% per year.
The current account interest rate for other currencies is 0%.
Current account interest rate for business clients
On the balance of an EUR current account, the interest rate is 0.01% per year.
The interest rate on the current account for other currencies is 0%.
Manage your accounts conveniently
Only the administrator of company’s internet bank have rights to manage accounts.
To apply the administrator rights, please contact your client executive, register for a video meeting or visit the nearest bank branch.
- Change settings of the accounts at any time
- No need to contact the bank and submit applications
- Save financial resources – no commission fee is applied to the changes made in the internet bank
Deposits guarantees
Deposit Guarantee Sectoral Fund stipulates guaranteed compensation to the amount of the deposit (but not exceeding 100,000 EUR) per depositor, if the deposit is not available. Your funds are ensured according to deposit guarantee law which stipulates guaranteed compensation to the amount of the deposit, if the deposit is not available. See more
| Private person | |
| 1. Current account opening (1) | free of charge |
| 2. Handling fee of documents submitted for current account opening (2) | |
| - resident of Estonia | free of charge |
| - resident of EEA member state | free of charge |
| - resident of another country (except EEA member state) | EUR 250 |
| 3. Current account monthly fee (3,4) | |
| - resident of Estonia | EUR 0,30 |
| - resident of EEA member state | EUR 0,30 |
| - resident of another country (except EEA member state) | EUR 7 |
| 4. Investment account opening | free of charge |
| 5. Pension Investment Account opening | free of charge |
| Legal entity | |
| 1. Current account opening (1) | free of charge |
| 2. Handling fee of documents submitted for current account opening (2) | |
| - resident of Estonia, except for legal persons registered in Estonia, represented by a non-resident or whose ownership structure or ultimate beneficial owners include a non-resident | free of charge |
| - resident of EEA member state, including legal persons registered in Estonia, represented by a non-resident or whose ownership structure or ultimate beneficial owners include a non-resident | EUR 500 |
| - resident of another country (except EEA member state) | EUR 750 |
| 3. Current account monthly fee (3,5) | |
| - resident of Estonia | EUR 1 |
| - resident of EEA member state | EUR 20 |
| - resident of another country (except EEA member state) | EUR 60 |
| 4. Monthly current account management fee for payment and e-money institutions (6) | EUR 700 |
| 5. Monthly current account management fee for credit institutions (6) | EUR 1000 |
| 6. Start-up account opening (1) | free of charge |
| 7. Opening current account in other SEB Group bank | EUR 150 + mail fees |
| 8. Account balance fee (7) | |
| - EUR, starting from balance of EUR 1,000,000 | ECB deposit facility rate |
| - SEK, starting from balance of SEK 9,500,000 | Sveriges Riksbank repo rate |
| - DKK, starting from balance of DKK 7,500,000 | Danmarks Nationalbank Certificates of deposit rate |
| - CHF, starting from balance of CHF 1,000,000 | Swiss National Bank negative interest rate |
(1) Upon opening the account is given a account card (for legal entity - with account card is cash deposit in marked account - 0,4% of the amount, min. EUR 5.
- Account card upon opening the account – free of charge
- Issuing extra account card - EUR 0.64 per card.
(2) The bank starts handling of documents after the handling fee of documents has been paid The fee is not returned if the bank decides not to open the account. The fee is not applied to the opening of each subsequent current account.
(3) Monthly fee is not charged for the account opening month, if the account is opened after the 15th day of the month.
(4) Monthly fee is not applied to clients, who are younger than 19 years of age (incl.) or older than 65 years of age (incl.).
(5) Current account monthly fee for legal entities does not apply to the payment and e-money institutions.
(6) Monthly account management fee is applied on client basis (does not depend on the number of accounts).
(7) When calculating the fee, the total balance of all current accounts of the client in the given currency will be taken into account.
The fee will be calculated at the end of each calendar day on the positive end-of-day balance, exceeding the limit, specified for the respective currency. The fee shall not apply if the central bank interest rate in the relevant currency listed in the table is zero or above zero. The fee is calculated based on the actual number of calendar days in a month and a year of 360 days.
The fee is debited from the current account in the first decade of a calendar month for the previous month.
The client is notified of the application of a fee with a personal notification at least 10 working days in advance.
Documents and requirements for opening an account
One of the most important prerequisites for opening the current account with us is that your company has a connection with Estonia. The connection can be following:
- owners of the legal person are residents of Estonia;
- business activity is connected to Estonia (e.g. production units, clients, or contractual partners situated in Estonia);
- investments in Estonia (real estate).
We may ask you for additional documentation, information or explanation where this is required (e.g. account statement, documents proving the origin of the funds, information about the group’s structure, beneficiaries etc.) according to local and international laws and regulations as well as to respect “Know your customer principle” before entering or proceeding with business relations.
We only start client relationships with legal persons who have a connection to Estonia. In case of business clients, the connection can be following:
- owners of the legal person are residents of Estonia;
- business activity is connected to Estonia (e.g. production units, clients, or contractual partners situated in Estonia);
- investments in Estonia (real estate).
If the members of the management board of the company are non-residents, you will be asked to submit documents proving the company’s connection to Estonia. You may submit partnership agreements or rental agreements which prove that the company operates in the given location.
- registration certificate (when legal person is registered during last 6 months) or extract from the register (not older than 6 months);
- articles of association or partnership agreement;
- document about the owners;
- document about the election/appointment of the management body (management board/CEO);
- document proving the right of representation (e.g. authorization document, extract from register about the person with the power of representation, decision of a competent authority, etc.);
- recommendation letter of the home bank (which includes the data of opening the account and assessment of the client relationship);
- if a legal person registered in a member state of the European Union wants to receive an income tax incentive, they must submit a respective document of the tax board of the country of location to the bank.
Offshore companies should also submit:
- Certificate of Good Standing (a certificate proving the payment of the annual fee) (not older than 6 months).
We will review the documents within 10 banking days.
In case of any questions, please contact the non-resident client relations department at nrc@seb.ee.
All documents submitted to SEB must be:
- original documents or notarized or comparably certified copies, and
- legalized or certified by a similar certificate (Apostille).
If foundation documents are in a foreign language, the bank shall have the right to demand an Estonian translation thereof that is notarized or translated by a sworn translator. If foundation documents are in English or Russian, no translation is required.
An Estonian branch of a foreign company shall submit a copy of the commercial register card.
A foreign embassy or representation in Estonia shall submit a certification of the Ministry of Foreign Affairs of the Republic of Estonia confirming that a foreign representation is opened in Estonia. The certification must include the location of the representation (address) and details about the head of the representation.
More about business accounts
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