Estonia Corporate Banking — LHV, SEB & Swedbank for OÜ
Corporate accounts at LHV, SEB, and Swedbank with 2-week onboarding. EU SEPA payments, full online banking access for e-Residents and Estonian OÜ owners.
What Banking & Treasury includes in Estonia
What you receive
How it works
Useful materials
Where to register and how we differ
Banking & Treasury in Estonia — frequently asked questions
The three primary banks for Estonian OÜ accounts are LHV, SEB, and Swedbank. LHV is widely regarded as the most crypto- and fintech-friendly institution, making it the preferred choice for technology and digital asset businesses. SEB and Swedbank serve more traditional commercial sectors. All three conduct full KYC and beneficial ownership checks; onboarding typically takes 2 weeks from document submission.
LHV requires certified identification for all directors and UBOs (ultimate beneficial owners), a detailed business plan describing revenue sources and transaction volumes, evidence of real economic activity or substance in Estonia, and up to 2 years of financial history for existing businesses. For crypto-related OÜs, LHV additionally reviews the company's VASP licence status or exemption justification. The review process takes 10–15 business days.
Remote onboarding is available at LHV for e-residents who authenticate digitally. SEB and Swedbank generally require an in-person appointment in Tallinn for non-resident directors, though video KYC is available in some cases. INNOVA facilitates in-person introductions through its Tallinn desk when required, significantly reducing the risk of account rejection due to insufficient business substance documentation.
The most common rejection triggers are: insufficient business substance (no Estonian clients, address, or employees), unclear source of funds or revenue model, VASP-related activity without an FIU licence, politically exposed persons (PEPs) among UBOs, and high-risk jurisdictions in the ownership chain. Banks also reject applications where the stated purpose does not match actual transaction patterns. INNOVA pre-screens clients against these criteria before submission.
Yes. Licensed e-money institutions (EMIs) such as Wise Business, Revolut Business, and Genome operate under Estonian or EU EMI licences and offer EUR IBANs without requiring physical presence. These are suitable for transaction banking but do not replace traditional bank accounts for credit facilities or regulated activity. For regulated fintech OÜs, INNOVA also assists with multi-bank strategies using complementary EU accounts.