Association bank account: where to open one
Updated
The accounts that suit an association are in the table below, ordered by price. Not all providers serve associations, so the table includes only those for which an association is marked as an allowed company form.
The documents of a registered association are submitted, for example, through Nordea's Omaposti: a current association register extract and the rules, signed minutes on the election of the board, a list of board members and minutes on the services to be opened. According to Nordea, the minutes must meet the requirements of the Associations Act, and the association's opening fee is €300. Source: Nordea (Finnish). According to OP, the account is opened by a signatory of the association who is an OP customer, and a registered association cannot be opened online (OP, Finnish). Associations do not report beneficial owners to PRH (the Patent and Registration Office) (PRH, Finnish). Prices differ: Alisa Pankki's association account price differs from its business account price (Alisa Pankki), and Holvi has its own packages for associations (Holvi). At present associations have no statutory right to a basic bank account, but government proposal HE 208/2026 proposes one, and it is only a proposal (HE 208/2026 vp, Finnish).
| Provider | Plan | Price / month | Opening fee | Company forms |
|---|---|---|---|---|
| Nordea | Nordea Digital package | €15.70 (incl. VAT) | €300.00 | Sole trader, Limited company, Association, Housing company |
| Alisa Pankki | Yhdistyksen käyttötili (association current account) | €19.90 | €29.90 | Sole trader, Limited company, Association, Housing company |
| Aktia | not available | price not available | €260.00 | Sole trader, Limited company, Association, Housing company |
| Danske Bank | not available | price not available | €0.00 | Sole trader, Limited company, Association, Housing company |
| Holvi | not available | price not available | €0.00 | Sole trader, Limited company, Association |
| OP | not available | price not available | €0.00 | Sole trader, Limited company, Association, Housing company |
| POP Bank | not available | price not available | €150.00 | Sole trader, Limited company, Association |
| Säästöpankki | not available | price not available | €200.00 | Sole trader, Limited company, Association, Housing company |
| Ålandsbanken | not available | price not available | €200.00 | Limited company, Association |
Company form not available: SumUp. These are not listed in the company-form table.
Nordea: price notes: incl. VAT.
Alisa Pankki: price notes: no payment card.
Aktia: price notes: VAT-exempt.
Holvi: price notes: virtual card only; physical card €3.00/month, + VAT.
OP: price notes: starting price.
Prices are not fully comparable with regard to VAT: the labels "incl. VAT", "+ VAT" and "VAT-exempt" are shown only when the provider or its price list states it.
What should I compare on an association's account?
- Whether the provider serves associations at all.
- The monthly price and the cost of transfers.
- Managing multiple users and their rights.
| Provider | Opening online | Duration | Credit check | More information |
|---|---|---|---|---|
| OP | Yes | about a week | not available | An online application (about 20 min) works for an adult with signing authority when the company is an active sole trader or limited company, liable to tax only in Finland and with a business ID (Y-tunnus); identification with the credentials of any Finnish bank. OP says it automatically checks the credit information of all company representatives from Suomen Asiakastieto's register, but does not say outright whether a payment default entry prevents opening. Housing companies, real estate companies, registered associations, road cooperatives, joint-ownership associations and pharmacies cannot open an account online, but by appointment at a branch. The account of a registered association is opened by a signatory who is an OP customer. |
| Nordea | Yes | a few banking days | not available | Online application (up to 10 minutes according to Nordea) for a limited company, sole trader, limited partnership or general partnership; requires a business ID (Y-tunnus), Finnish online banking credentials, signing authority, information on beneficial owners, a shareholder list or ownership chart, and up-to-date beneficial owner information in the PRH register. Nordea contacts you before opening the services. A registered association submits documents through Nordea's Omapostti, opening fee for an association €300. Housing companies have their own housing company unit. |
| Danske Bank | Yes | Contact within 2 working days | not available | Online application (up to 15 minutes according to Danske Bank); the bank contacts you within two banking days. Required: business ID (Y-tunnus), an estimate of turnover and the number of payments, a description of the business, names, personal identity numbers and ownership shares of the beneficial owners, details of the signatories, a description of the ownership structure and the latest financial statement data; finally a Tuntemistiedot (know-your-customer) document to be signed electronically. The application cannot be saved halfway. |
| Säästöpankki | No | not available | not available | A new business customer submits a contact request online, selecting the company form (Oy/Ky/Ay, sole trader, housing company, association/foundation, farm or company being established) and the branch. Säästöpankki says that the credit information of the company and the responsible persons is an important criterion for becoming a customer, but does not say outright whether a payment default entry prevents opening. Opening entirely online is not mentioned. Prices vary by local Säästöpankki. |
| POP Bank | No | not available | not available | A new business customer books an online or branch meeting; a business ID (Y-tunnus) and basic information about the company's operations are needed. A registered association can be a customer (POP Bank's FAQ deals separately with unregistered organisations). No information was found on a housing company's account. Prices vary by local POP Bank. |
| Oma Säästöpankki | No | not available | not available | For the first business account, an online meeting or a branch appointment is booked; bring a passport or ID card. Required: business ID (Y-tunnus) and a description of the business, a business plan, for a starting company the memorandum of association and the minutes of the founding meeting, for an established company the latest income statement and balance sheet, and details of the owners and beneficial owners (over 25%) and PEP information. The price list also applies to sole traders (elinkeinonharjoittaja). No separate instructions were found for the accounts of associations and housing companies. OmaSp has been part of the S-Bank group since 7 October 2026. |
| Aktia | not available | not available | not available | A new business customer fills in an electronic KYC form with attachments (a copy of the ID of the representatives and account users, and documents on the company form); the form is sent by a person with signing authority using personal online banking credentials. Aktia contacts you after processing the information, so opening does not necessarily take place entirely online. Aktia charges an opening fee. The page mentions businesses, associations and housing companies. |
| Ålandsbanken | not available | not available | not available | Online opening is not mentioned; BusinessNet is taken into use by contacting customer service or a customer adviser. The price list mentions business customers and unregistered associations and organisations. No separate information was found on the accounts of a sole trader or a housing company. |
| Holvi | Yes | a few minutes; use begins once identity and the company have been verified | not available | Opening online. Holvi asks for a trade register extract; a sole trader not entered in the trade register can submit a screenshot of a YTJ extract. Credit card offers are based on credit information. |
| Revolut Business | Yes | not available | not available | According to Revolut, the company must be fully established and active, and it cannot operate as a charity, in the public sector or as a cooperative, or be registered as a sole trader (toiminimi). The accepted company forms are shown during registration. So Revolut Business is not suitable for a sole trader or an association. |
| Wise Business | Yes | not available | not available | According to Wise, the service suits sole traders and freelancers, limited and public limited companies, and partnerships. Associations or charities are not mentioned in the list; EEA trusts are temporarily restricted. Registration is free, local account details require a one-off fee. |
| SumUp | Yes | under 10 minutes | not available | Opening online by uploading a picture of an ID document; the IBAN is available immediately after confirmation. SumUp does not say on its Finnish pages which company forms are accepted, so companyForms has been left empty. |
| UKKO.fi | Yes | even on the same day | not available | UKKO Yritystili (business account) is available only to customers of the UKKO Yrittäjä service (financial administration for sole traders and limited companies): log in to the service, register for a Swan account and identify yourself. The UKKO Kevytyrittäjä invoicing service is not a business account as such. |
| Alisa Pankki | Yes | customer relationship confirmation usually in a few days | not available | The customer relationship is opened on the website; after confirmation, the account is opened in online banking yourself. According to Alisa Pankki, a sole trader always gets a separate account, and a personal account may not be used for business activity. Associations and housing companies can also open an account. |
Which providers serve associations?
- OP - bank
- Nordea - bank
- Danske Bank - bank
- Säästöpankki - bank
- POP Bank - bank
- Aktia - bank
- Ålandsbanken - bank
- Holvi - payment institution
- Alisa Pankki - bank
Company form not available: SumUp.
Related guides
Frequently asked questions
What does opening an association's account require?
Requirements vary by provider. Check the terms with the provider and see the opening table.
Do associations have their own prices?
Some providers have a separate package for associations. See the table for which accounts suit an association.
Can an association's account be opened online?
With some providers it can. Online opening is shown in the opening table.