Money
Banking and money in Finland 2026
In Finland you need a bank account for your salary, Kela benefits and paying bills. A traditional Finnish bank (e.g. OP, Nordea, S-Pankki) usually requires a personal identity code (henkilötunnus) and strong authentication, which can take time when you move here. Fintech accounts like Revolut and Wise open quickly and are especially handy early on and for receiving payments from abroad.
This page compares the options at a general level. It is not financial advice — choose the service that fits your needs yourself. Some of the links below are partner links.
Some links on this page are partner links: if you open an account through them, Selkoraha may receive a small commission at no extra cost to you. This does not affect the content. Selkoraha does not provide financial advice. Read the full disclosure
Do I need a Finnish bank account?
Yes, in practice you do. Salary and most Kela benefits are paid to a Finnish or European IBAN account, and strong electronic identification (bank credentials) is needed in many government services. Strong authentication is usually only issued by a Finnish bank with a personal identity code.
Early on, while opening a Finnish account is still in progress, an EU-based fintech account (such as Revolut or Wise) can serve as a temporary solution for salary and payments.
When are Revolut or Wise useful?
Fintech accounts are handy if you earn income in several currencies, make payments abroad or want lower currency-exchange fees. Wise is known for cheap currency exchange and a multi-currency account; Revolut offers a versatile app with a card and budgeting tools.
They do not replace a Finnish bank for strong authentication, but they complement it well — especially for freelancers and entrepreneurs who invoice abroad.
Options
Multi-currency account and cheap currency exchange — suits people who invoice abroad and earn in several currencies.
European IBAN · Cheap currency exchange · Multi-currency account
Explore WiseA versatile app with a card and budgeting tools — handy for day-to-day use and a quick start.
Quick setup · Card and app · Banking licence (EU)
Explore RevolutKey figures 2026
- Identity code
- required for a Finnish bank account
- 95 %
- mortgage loan cap from 30 June 2026
- 30 % / 34 %
- capital income tax, threshold €30,000
- €100,000
- deposit guarantee per bank
Calculators for this topic
FAQ
Can I open a Finnish bank account without a residence permit?
You usually need a personal identity code and an ID document. EU/EEA citizens have a right to basic banking services. Early on, an EU fintech account can be a temporary solution.
Are Revolut and Wise safe?
Both are EU-regulated financial institutions (Revolut operates under a banking licence in Lithuania, Wise is a regulated payment institution). Always confirm the current terms with the provider itself.
Can I receive my salary into a Revolut or Wise account?
Usually yes, if the account has a European IBAN. Some employers and Kela prefer a Finnish account, though, so check with your employer.
Which is better for receiving payments from abroad?
Wise is known for cheap currency exchange and a multi-currency account, which suits those invoicing abroad. Revolut’s app offers more day-to-day tools.
What do I need to open a Finnish bank account?
Usually a personal identity code (henkilötunnus), a valid passport or identity card, your residence permit card and evidence of the purpose of your stay, such as an employment contract or proof of studies. The bank may also ask about the origin of your funds. Practices differ between banks, so if one refuses it is worth trying another.
Do Wise or Revolut give Finnish banking credentials?
No. The strong authentication credentials for OmaVero, OmaKela and Suomi.fi are issued only by a Finnish bank, and a personal identity code is required. A fintech account is a temporary complement, not a replacement.