Send Money To Estonia

Currency Symbol and Swift Codes

The Estonian kroon (EEK) was the official currency of Estonia from 1928 to 1940, and then from 1992 to 2011. On January 1, 2011, Estonia became the first ex-Soviet state to start using the euro (EUR) as its national currency.

If you wish to send money to an Estonian bank account, you will need to provide the receiving bank’s SWIFT/BIC code. The corresponding  table lists SWIFT/BIC codes of some popular Estonian banks.

Case Study

Erik had to move to the UK because of work, while his wife and their young son remained in Estonia. Since they were dependant on him financially, he needed to send them money regularly. While he was planning to use the bank he banked with, a coworker suggested that he compare his options first. He did and this is what he found.

Using the money transfer company instead of the bank ensured that Erik’s wife would receive some extra money each month. In addition, the company he selected let him schedule transfers and lock in exchange rates in advance.

Cash Pickup Locations in Estonia

If sending money to Estonia in a hurry is your top priority, you may consider sending it to a cash pickup location. Western Union and MoneyGram have agent networks in this country.

Safety Tips for Picking up Cash in Estonia

Most visits to Estonia remain trouble-free. However, instances of petty crime are not uncommon, especially in and around Tallinn’s Old Town. Exercise basic caution if you plan to collect money from a physical location.

Instances of mugging and pick-pocketing can take place in nightclubs, pubs, and bars in Tallinn’s Old Town. Do not leave you drink unattended as there have been reports of drink tampering with the motive of robbery. Avoid walking in unlit parks and side streets at night. Use your hotel’s safe to safeguard your valuables when possible.

What Information Do I Need to Transfer Money to Estonia?

This depends on the desired transfer method.

• Bank account transfer. Provide the recipient’s complete name, a bank account number, the bank’s name, and the bank’s SWIFT/BIC code.
• Transfer to cash pickup center. You will need to provide the recipient’s name and select a preferred cash pickup location. The recipient will need to provide a reference number and an acceptable form of ID to collect the transferred money.

Regulations When Transferring Money To and From Estonia

Estonia is part of the Eurozone and does not have its own currency exchange restrictions for residents or non-residents. While the European Central Bank (ECB) oversees the region’s the single monetary policy, Eesti Pank (Estonia’s central bank) watches over the country’s payment systems. If you are transferring more than €10,000 to Estonia, it needs to be declared to relevant authorities in the European Union.