Money matters

Estonian currency

The national currency of Estonia is called the Kroon and was introduced on 20 June 1992. The Kroon is abbreviated as EEK. The smaller unit is called the Sent, 1 kroon = 100 sents. The kroon is pegged to the EURO at 1 EUR = appr. 15.65 EEK. Foreign currencies can be easily exchanged in banks and exchange offices.

Opening bank account

This will enable you to use internet banking (which is very common and convenient in Estonia), get a bank card for cash withdrawals from ATMs, make payments via ATMs and pay for goods and services in most shops. Also, you can transfer larger amounts of money with single transfer to your Estonian bank account and avoid expensive withdrawing from ATMs and repeated international transfers which have high fees. You can open bank account in any of the major banks' offices located in Tartu. Two largest banks in Estonia are Swedbank and SEB followed by Nordea and Sampo bank.