Most of the e-Residents is looking for solutions for collecting payments from their customers. They consider highstreet banking vs fintech Payment Service Providers. The goal of this article is showing you the way of the opening bank account at LHV Pank – biggest domestic financial institution, employing over 400 people in Tallinn and Tartu cities, holding 177,000 clients.

If you are e-Resident card holder, please execute these steps
as follows:

1) Fill the application form for the business client –
2) Fill the online application form with using your e-Resident card.
3) Attach your ID document (EEA card or passport) and send to the address

Application need be signed electronically with e-ID software. Considering of application takes 7 business days. Then the bank will notify about the positive or negative decision. In the case of a positive decision of concluding the relationship, mandatory is visiting local LHV branch and present passport or EEA identity card for the purpose of signing the agreement.


Estonian banks treat KYC (Know Your Customer) and AML/CTS seriously.
Moreover, they want to check your connection with Estonia. If you are
non-resident and live out of Estonia and you won’t demonstrate that you have counterparties in Estonia, you can forget about setting up an account.

I will describe to you what is the method of explaining them your business presence in Tallinn.

1) Tax reasons for the opening company in Estonia and bank account is not indifferent.
2) Find your business partners on or and outsource them your job. You can show the bank print-outs from, quotes, invoices or cover letter.
3) Find your business clients in Estonia ( translate your website into Estonian language and show the bank that you have a business presence in Tallinn)
4) Use a trusted company formation partner (likes A trusted company will provide you legal address, that will be accepted by the bank.
5) Setup Estonian domain (.ee) and phone number (+372) for the purpose of contacting with counterparties.