Estonia is moving together with the rest of the euro area firmly in the direction of interbank payments taking only seconds and being made on national holidays and weekends as well, said Deputy Governor of the central bank, Madis Müller, at a debate on instant payments held at Eesti Pank.

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Governor of Eesti Pank and member of the Governing Council of the European Central Bank Ardo Hansson says there is no reason to hope that interest rates on loans will forever remain as low as they are now.

  • The central banker believes that the Estonian economy is already simmering... more
Tiina Soosalu Payment and Settlement Systems Department

In the first quarter of 2018 private individuals withdrew an average of 7.7 million euros a day from ATMs in Estonia and made an average of 11.3 million euros of card payments each day. Estonia stands out within Europe... more


The latest review of the payments market by Eesti Pank states that all card payment terminals should be able to handle contactless payments by 2020. More and more innovative solutions will appear in Estonia alongside the traditional payment solutions.

“The development in the global and... more

Tiina Soosalu Eesti Pank Payment and Settlement Systems Department
  • The number of international payments rose faster in the final quarter of last year than the number of domestic payments did
  • The majority of domestic payments are card payments
  • The rise... more

Eesti Pank, the Estonian Banking Association, businesses and consumer protection authorities decided at the Estonian Payment Forum that it would be wise to encourage bank clients to use more modern and more secure methods of authentication rather than code cards. Some 300,000 bank clients in... more

  • The incomes and pensions of 90% of people in Estonia are paid by bank transfer, and only 4% in cash
  • Some 80% of people use both bankcards and cash to pay for their daily purchases, and the rest use only one exclusively
  • Cash is mainly used when it is not possible to pay... more

Deputy governor of Eesti Pank Madis Müller says that within a year all the banks operating in Estonia should start providing instant payments to allow payment service users to send payments from one bank to another within seconds. SEB is the only bank in Estonia that currently offers instant... more

Tiina Soosalu Payment and Settlement Systems Department

 Residents and companies in Estonia made an average of 1.2 million domestic payments a day in the third quarter, with a total turnover of 369 million euros. The number of payments is up 6.5% over the year, and turnover... more


On Monday the Baltic states joined the single European settlement platform TARGET2-Securities, where around half a million transactions are made each day with a total turnover in excess of 700 million euros. Joining the platform will allow Estonian investors to buy and sell European securities... more

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