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Banking and Statements

Yes and yes. There is no problem in changing banks. Imagine you are in Transferwise but you want to open a bank account at a traditional Estonian bank because you need an Estonian IBAN. You have two options:

  • You can open an LHV account and use both accounts. You may want to use Transferwise to charge your international customers and LHV for the things that require an Estonian IBAN.
  • If you like LHV so much that you think you want to switch completely, you can also close your Transferwise account and use only your LHV account from that moment on. Make sure that your new account is open and perfectly operational before closing the first one.

You have more information about banking solutions here and here.

IBAN discrimination affects more EU businesses than you might think. Discover the basics of this common practice, whether it’s legal, and what you can do to fight it. Click here.

As a premium accountancy service for businesses in Estonia, Companio needs to have certain access to your banking information. To do so efficiently, here’s what you need to know about downloading bank statements in all types of currencies and balances – and uploading them regularly.

To link your Stripe or Mollie payment gateways accounts to Companio, you will need to obtain an API Key, a token that allows us to obtain your bank movements and sales on these platforms. These tokens can be found by entering your account and going to the Developer section. Then, you just need to go to Companio, add a bank account, choose the right option (Mollie or Stripe), and paste that token. For further instructions on how to obtain the API Keys, please visit this link for Stripe and this link for Mollie.

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