A practical guide for founders using Revolut and Unicount
Opening a business bank account is one of the first important steps after setting up your Estonian company. Every company needs an account to accept payments, pay suppliers, transfer share capital, and manage day-to-day operations.
For e-residents this part may feel unclear at first, because Estonia allows you to register a company online, but banking depends on strict European rules. In 2025 more founders are choosing digital banking solutions instead of traditional Estonian banks. This is the reason Unicount works closely with Revolut to help clients open business accounts quickly and remotely.
This guide explains how banking works for e-residents, what documents you need, and why Revolut is usually the most practical choice.
Can e-residents open a bank account in Estonia
Yes, but not automatically.
Holding an e-Residency digital ID does not give you direct access to Estonian banks. Banks must follow European KYC and AML regulations, so they need to understand your business model, risk level, and connection to Estonia.
Traditional banks often expect one of the following:
• a visit to Estonia for identity verification
• real business activity inside Estonia
• board members living in Estonia
• local clients, partners, or employees
This makes the process difficult for founders who run their companies remotely. As a result, most e-residents choose digital banking providers that accept international founders and offer full remote onboarding.
The two main banking options for e-resident companies
1. Traditional Estonian banks
Swedbank, SEB, LHV and Coop are the main local options. These banks offer excellent services to businesses operating within Estonia; however, most applications from non-resident founders are declined if there is no local activity. An in-person visit is often required.
2. Digital banking solutions
Revolut, Wise and Paysera are the most popular choices among e-residents. They provide EU IBAN accounts, multi-currency balances, fast payments, and remote onboarding. Revolut has become the preferred choice due to its speed and seamless integration with modern accounting tools.
For most digital entrepreneurs, consultants, software developers and remote teams, a digital-first bank is the simplest and most realistic option.
Opening a traditional Estonian bank account
What to expect:
If you decide to apply at a local bank, you should be prepared for a detailed verification process. The bank may ask for:
• company registration documents
• shareholder and management information
• a clear business description
• your personal identification documents
• proof of address and contact details
You may also be asked to visit a branch in Estonia for a meeting.
Approval can take anywhere from several days to a few weeks. Applications from companies without real Estonian business presence are often declined.
This is why many e-residents choose Revolut instead.
Opening a business account with Revolut
A practical solution for e-residents
Revolut Business is a European financial institution regulated under EU law. It offers a fast and simple application process for international founders. For many e-residents it is the easiest way to open a business account without traveling to Estonia.
Revolut provides:
• EU IBAN account
• multi-currency banking
• virtual and physical company cards
• mobile and web access
• integrations with accounting and invoicing tools
• fast onboarding and clear pricing
These features work well for companies that operate online and sell internationally.
Step-by-step: How to open your Revolut Business account
1. Create your profile
Follow this LINK and start the registration. Enter your company name, registration number, and contact information.
2. Submit your company documents
Upload your Estonian company certificate and a short description of what your business does.
3. Verify all shareholders and directors
Each beneficial owner must provide identification. Your e-Residency digital ID is accepted.
4. Complete identity verification
Revolut may ask for a short video or selfie check inside the app.
5. Start using your account
When your application is approved, you can issue cards, receive payments, create sub-accounts in different currencies and connect Revolut to your accounting software.
Most accounts are approved within one to three business days.
Why Revolut is usually the best option for e-residents
Revolut combines fast onboarding, remote identification and modern financial tools. It works very well for founders who operate internationally and do not have an office in Estonia.
Founders choose Revolut because it allows them to:
• open a business account fully online
• pay in their company’s share capital
• issue company cards for themselves or their team
• send and receive payments in multiple currencies
• connect accounting and invoicing software easily
• keep costs predictable while the company is still small
Unicount works with Revolut to help our clients onboard faster and avoid common mistakes in the application process.
What documents you need
Most banking providers will ask for:
• company registration certificate
• e-Residency digital ID
• details of all shareholders and directors
• business description and planned activities
• proof of address
• contact email and phone number
Revolut may ask for extra documents depending on your industry.
Paying in share capital with Revolut
Share capital must be paid before you can confirm it in the Estonian Business Register. Revolut supports this transfer. After making the payment, you can download a confirmation from the app and upload it to the register.
Common mistakes that delay approval
Applications are often rejected or delayed because of:
• unclear or incomplete business descriptions
• missing documents for shareholders
• using a personal contact address instead of company details
• not explaining where clients are located
These issues are easy to fix when you know what banks expect.
Staying compliant with your bank
Once your account is open, keep your business details updated. Banking providers regularly request confirmation of your company’s activities and ownership. Responding quickly helps keep your account in good standing.
Revolut follows the same security and compliance standards as other European financial institutions and uses strong identity verification and transaction screening to protect your business.
In a nutshell
Revolut offers the fastest and most practical banking solution for Estonian e-residents in 2025.
It allows full remote onboarding, supports share capital payments, and works well with modern accounting tools.
