global payment guide

Finland

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Receiving currencies in
EUR, USD, GBP
Sending currencies to
EUR, USD
Transaction processing time
1-5 working days
Available payment networks
SWIFT
SEPA
FasterPayments

Finland's business landscape, thriving on innovation and technology, excels in sectors such as services, IT, and manufacturing. Home to international giants like Nokia, the country fosters entrepreneurship through a skilled workforce and supportive legislation. 

The nation creates a stable environment conducive to growth and collaboration, with a strong emphasis on research, development, and digital advancement. However, geographical remoteness and limited awareness of payment options pose challenges, especially for international entrepreneurs. This guide aims to explore and clarify the various payment methods available in Finland.

What payment networks are supported in Finland?

In Finland, many payment methods are widely used and promoted, with a significant shift toward digital and mobile payment systems. Some of the most prevalent payment methods in Finland are:

Mobile payment

Contactless transactions via smartphones are possible in Finland because of mobile payment programs such as Apple Pay, Google Pay, and other NFC (Near Field Communication) technologies. These methods give convenience and security by leveraging NFC technology for rapid, secure payments at various stores and online. Online merchants utilize them to guarantee a seamless checkout procedure. However, users should consider the potential transaction expenses. Nonetheless, these platforms demonstrate Finland's dedication to digital advancements, catering to business and consumer needs.

Credit and Debit Cards

Credit and debit cards Visa, Mastercard, American Express, and other major international credit and debit card networks are widely accepted in Finland. They are widely accepted for various transactions, including shopping, dining, and online purchases, simplifying online payment processing and allowing businesses to accept online payments easily.

Bank transfer

In Finland, larger purchases, bill payments, and salary deposits are frequently handled via bank transfers, such as SWIFT and SEPA, as alternative payment methods for transactions in the principality. This method employs payment information such as IBAN (international bank account number) to transfer funds between bank accounts electronically. Its popularity stems from its reliability, security, and convenience.

In Finland, bank transfers are widely used for significant transactions like property sales, business dealings, and salary payments. These transactions can be managed through internet banking, including SWIFT and SEPA methods, allowing users to handle payments, track funds, and keep secure transaction records.

Bank transfers are valued for their security and precision, ideal for large-scale financial activities. However, for non-residents who may find it difficult to open bank accounts in Finland, alternative solutions like WeavePay offer a practical and secure way to manage transactions without traditional banking.

Online Payment methods

In Finland, internet businesses efficiently manage their finances using various online payment systems, which facilitate a range of alternative payment options. This enhances their ability to accept payments online and caters to diverse customer preferences.

The country's strong internet banking infrastructure aids businesses by streamlining operations and offering multiple payment choices to clients. In an evolving digital market, this infrastructure underpins secure and swift online transactions.

For businesses involved in high-value international transactions, WeavePay offers specialized services. It provides a tailored solution, fitting into Finland's advanced digital payment landscape and catering to the specific needs of such enterprises.

How much does sending money to Finland cost?

Sending money to Finland can be expensive based on several variables, such as the service provider you select, the amount being sent, the mode of transfer (bank transfer, internet transfer, cash pickup, etc.), and any fees or exchange rate margins that may apply.

The charge structures of various banks or money transfer providers may differ. Some providers may charge a fixed cost or a percentage of the transferred amount. In contrast, others may offer minimal or no fees for transfers under particular circumstances or within set limits. Furthermore, currency rate markups or margins may be applicable, affecting the overall expense of transferring money abroad.

Why transfer money to Finland with WeavePay?

For businesses that use multi-currency corporate accounts to send money to Finland, there are several advantages to utilizing a payment service like WeavePay.

The best companies in the world utilize WeavePay for the following four reasons:

  • Dedicated account managers
  • Fast international transfers
  • Multi-currency accounts
  • Uncapped physical and virtual debit cards

As a payment gateway, WeavePay makes cross-border payments easier, which improves the fairness and transparency of the commercial financial environment. See if you qualify for a WeavePay account today.