OP services for foreign companies
As OP’s partner, your company can benefit from the leading Finnish bank’s real-time SEPA payments and quick international payments. You can also use the field’s newest digital cash management tools and international interfaces for cash management, collection of payments and management of cross-border payments.
Managing Finnish and European payments with OP services
Many international companies have chosen us as their partner thanks to the OP Payment Transfer API solutions. Our interfaces allow you to monitor account transactions in real time and make truly real-time and automated payments in the entire European SEPA payment area.
OP Corporate Hub is a digital corporate cash management service that is well suited for international companies of all sizes.
Account management from outside Finland
International companies or an international parent company of a Finnish subsidiary can monitor and manage their funds in OP with OP Corporate Hub. OP’s accounts can also be managed in the company’s foreign bank services with the Payment Request payment initiation service and the SWIFT account reporting service.
- Payment Request enables the company to repatriate funds to a foreign bank even during the same day.
- The SWIFT service enables the company to retrieve electronic bank statements, extracts from intra-day transactions and the statements of balance from the OP account. Different banks send the account information based on their own cut off times, but account statements will generally be available to the company in the morning.
Prepare the right documents to open an account
Before opening an OP account, we will verify the identity, existence and legal competence of the person opening the account, the account holder and the person with the right of access to the account. In respect of corporate customers, we also request evidence of the company’s existence and the persons acting on behalf of the company.
The company must provide the following documents to open an account:
- Letter of recommendation from a foreign bank
- Description of the company’s business
- Estimated number, amount and origin of account transactions
- Extract from the minutes of the company’s board meeting that makes a decision on opening an account
- Persons entitled to use the account, their specimen signatures and copies of passports
- Copy of an extract from the Trade Register or Certificate of Incorporation
- Copy of the Articles of Association
Be in touch with OP cooperative bank when you are considering operations in Finland. Together, we will find the best solutions for your company’s payment and international cash management needs.