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How to Open a Corporate Bank Account?

Once your business is registered, you need to open or connect a bank account to invoice your customers, pay suppliers and distribute profits.

Unless you have a good reason to opt for a traditional bank account, online solutions such as Revolut Business or Paysera are perfectly valid alternatives for your business, and they have many advantages, such as:

You save money and time since everything is online so you don't have to visit offices.
You can transfer money for free to other countries that are in the SEPA (Single Euro Payment Area).

Ready to dive into digital banking? As a valued Companio client, we're excited to offer you an exclusive perk: Set up your account with Wise and enjoy a fee-free transfer up to 10,000 EUR here. You can also start with Payoneer here, or choose Revolut Business here.

🇪🇪 If you decide to choose a traditional Estonian bank for your Estonian company, keep this in mind:

You will have to travel to Tallinn, the capital of Estonia. This is because traditional banks have a KYC (Know Your Customer) policy, which requires them to meet their customers face to face to open a bank account for them.
Most Estonian banks will ask you to prove a certain link with Estonia, in addition to proving that you are an e-resident. This is quite subjective, and proving it may not be that easy.

Updated on: 28/10/2025

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