What is the local currency?
What denominations does it come in?
Coins: 5c, 10c, 20c, 50c, 1€, 2€ (1c & 2c coins are not used in Finland, but can be used for payment).
Notes: 5€, 10€, 20€, 100€, 200€, 500 €.
What is the best way to exchange currency?
Money can be exchanged at banks or local exchange places.
What are commonly-used forms of payment for everyday purchases (such as groceries)?
Bank and credit cards are commonly accepted, even in smaller stores. When paying with cash, it is worthwhile to use bills under 50€ as many shops do not accept bigger bills for small purchases.
Will I be able to use my credit card around town? If not, list when I’ll need cash.
Bank and credit cards are commonly accepted, even in smaller stores. Cash is generally needed on public transport and in market places. Credit card terminals are, however, constantly increasing in popularity, so one can almost manage on a daily basis simply by using one’s bank/credit card.
By what method are bills (such as rent and utilities) paid?
Online banking is the most common way of paying bills. Invoices can also be received electronically as e-invoices directly to online banks. Banks also have their own terminals from which invoices can be paid.
What are the requirements for opening a bank account? At what stage of the settling-in process should I open it?
In practice, foreigners can open a new bank account in Finland just as Finns can. According to Finnish law, banks need to be able to identify its customer, which can cause certain obstacles in the case of foreigners. In addition to personal identification and address details, banks often also require a social security number. Some banks may also require a work permit or letter of recommendation from a reliable foreign bank and an explanation of the intended use of the account.
Will foreign residents be able to find banking services in their native languages?
In addition to Finnish and Swedish, most banks offer service in English.
Are there any restrictions on services for those who are new to your country?
Generally no, but it also depends on what services you need.
What are typical banking hours?
10:00 a.m. – 4:30 p.m.
Are automatic teller machines (ATMs) available around the clock?
Yes. Bills available are 20€ and 50€ only. ATMs are commonly indicated by yellow signs reading “Otto.” (spelled with the period). There are some 1700 Otto. ATMs all over the country. Otto. ATMs provide services in English, Swedish or Finnish, according to your selection.
There are two separate slots. The blue one is for international (EMV) standard chip cards. The yellow one is for non-chip cards that only have a magnetic stripe.
Is there any other money information that might help me?
It is always good to have some cash for urgent situations but, in general, credit cards are accepted everywhere. At smaller sales stands (such as ice cream stands) or at the local market, it’s generally worthwhile to check if credit cards are accepted or not, as one easily becomes accustomed to using cards everywhere.
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Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Please contact your closest embassy or consulate for confirmation.