Estonia's Ministry of Finance published amendments to clarify when banks must open and may close a basic payment service account, aiming to ensure consumers can carry out essential transactions such as cash deposits, receiving wages and benefits, and paying bills and taxes. The package also creates an emergency option for offline card payments when normal card payment connectivity is unavailable. The clarified framework treats access to the basic payment service as covering both account opening and protection against unjustified termination, with account closure permitted only on grounds listed in law, including intentional use of the payment account for illegal purposes. The emergency offline card payment functionality would apply when a bank’s information systems are not functioning or there is no communications link, with payments limited to a bank-set cap and restricted to purchases of essential goods such as food, fuel and medicines. The amendments are planned to enter into force on 1 June.
Ministry of Finance (Estonia) 2025-04-04
Estonia's Ministry of Finance clarifies basic bank account opening and closure rules and introduces offline emergency card payments
Estonia's Ministry of Finance has amended regulations to clarify conditions under which banks must open and may close basic payment service accounts, ensuring consumer access for essential transactions. The amendments also introduce an emergency offline card payment option for essential goods when normal connectivity is unavailable. Account closures are restricted to legally specified grounds, including illegal use.