Tilisiirto (Bank Transfer)

Detailed explanation

In Finland, nearly all recurring payments are handled through bank transfers. When you receive an invoice (lasku), it will include the recipient's IBAN number, a reference number (viitenumero), and the due date. You enter these details into your online bank or mobile banking app to complete the payment. The reference number is critical — it ensures your payment is correctly matched to your account by the recipient.

Most Finnish banks offer real-time or same-day domestic transfers between Finnish accounts. International SEPA transfers within the EU typically take one business day. Finnish employers always pay salaries via bank transfer, and landlords expect rent to be paid the same way.

How it affects expats

• •Essential from day one: You need a Finnish bank account to pay rent, receive salary, and handle bills

• •Reference numbers matter: Always include the reference number (viitenumero) when paying invoices, or your payment may not be processed correctly

• •E-invoicing: Many companies offer e-invoices (e-lasku) that arrive directly in your online bank, pre-filled and ready to approve

• •Direct debit: You can set up automatic payments (suoramaksu) for recurring bills like electricity and phone

• •Mobile payments: Apps like MobilePay and Siirto allow instant person-to-person transfers

Key details

• •Domestic transfers: Usually processed within the same day or instantly

• •SEPA transfers: 1 business day within the EU

• •Reference number: A unique identifier on every Finnish invoice

• •always include it

• •Online banking: Over 90% of Finns manage banking online or via mobile apps

Related terms

• •Pankkitili (Bank Account) — Finnish bank account basics

• •Veroprosentti (Tax Rate) — your tax card percentage

• •Strong Authentication — bank ID for online services