Banks In Finland
I see it’s necessary to dedicate a whole page on this information about Banks In Finland.
This page is only specifically on bank charges and fees just to have a savings bank account with the bank.
Due to the fact that I have compared so much differences between Singapore and Finland. Not that I want to compare as a basis of discussion but it is so interesting. And of course to show awareness of what you are getting into, especially when it comes to the extra charges and fees here and there that you may not be aware of when you open a bank account, as a foreigner.
List of Banks In Finland (not exhaustive but most common ones in Helsinki) : Nordea, Op-Pohjola, Sampo, S-Pankki.
All these banks require fees for having an account with them, except S-Pankki.
Basic fee is about 2euro per month for the account with a debit or credit card, and internet banking services is another 1.50 – 2 euro per month. Therefore expect to pay about 4euro per month just to maintain a savings account with atm card and internet banking.
Be also aware of printing. I’m not sure if it is due to green movement (which it certainly isn’t when it comes to the next section i’m going to talk about), every time you requested a paper print of bank transaction it costs something, about 50 euro cents at the atm machine or 2euro at the bank counter.
It gets complicated when you are a foreigner who does not have a regular income every month (student or investor like me) -
1. first of all, you are not allowed to have internet banking (at least at Op-Pohjola bank). They deem that you do not have regular activities per month to be qualified for internet banking. (It is strange though, when the internet banking service is not free, so if customer pay for it, why couldn’t they demand for the service? )
2. and since you do not have internet banking, everytime you withdraw money at the atm machine, the bank will send you a paper statement stating you have withdrawn the amount. This is so even if you did not request a paper statement and it is sent automatically as long as you do not have a internet banking service. And of course there is coming more fees! Each print out ranges between 50 euro cents to 1 euro, so if you withdraw 4 times a month, expect to pay 4euro extra! Now this is certainly not about going green.
Now the strange thing is, S-Pankki does not charge any fee at all for a basic savings account with atm card and internet banking.
In my personal experience and opinion, I have always used S-Pankki. It may not be the most convenient with only branches at SOKOS (retail shops) and PRISMA. But all I need is a simple bank account. So it has served me extremely well, without extra charges
Last but not least, now how is this different from Singapore?
In Singapore, such basic services are FREE – savings account with atm card and internet banking, whether you are working, non-working, regular income, no income.