How is the launch of OP’s equity savings accounts progressing?
We are in the final stages of testing the accounts (situation on 9 July 2021) to confirm that they function properly and are user-friendly. Once testing is over, we will fix any issues identified and move on to piloting.
Piloting is designed to check the reliability of the service, after which it can be made available to all OP customers. We have also prepared a news article with more information.
OP’s equity savings accounts will be provided on an entirely new platform, as part of a more extensive wealth management system upgrade. The upgrade will enable us to provide the best possible investment services going forward, and to react faster to changes in our customers’ needs.
When can I open an account?
The official launch date will be announced as soon as possible as our work progresses. You can subscribe to our Sijoitusnäkymät newsletter or follow us on Instagram (@op_sijoittaminen) to find out when we are ready to launch our equity savings accounts and to stay up to date on the latest investment news otherwise. There is also plenty of information about the launch of OP’s equity savings accounts at op.fi. Click here to subscribe to our newsletter (only in Finnish).
OP – an owner-customer’s stockbroker
As an owner-customer, you pay nothing for
- opening an equity savings account,
- the custody of your securities, and
- equity and market analyses and recommendations.
How much do I have to pay for an equity savings account?
There is no charge for opening an equity savings account. You do, however, need one of our investment service packages: either the Saver’s package or the Investor’s package. Our service packages include custody as well as equity and market analyses. The applicable trading fees depend on your chosen package.
Our Saver’s service package is free for our owner-customers and costs EUR 2.99/month for other customers. Our Investor’s service package costs EUR 9.99/month for our owner-customers and EUR 14.99/month for other customers. An order-specific trading fee also applies, the amount of which depends on the chosen service package. See our list of service charges and fees for more information.
How do I open an equity savings account?
For the time being, equity savings accounts can only be created on OP-mobile. Opening an account at op.fi or at a branch will be possible with future versions of the service. Stay tuned for more information about when these features become available.
Can anyone open an equity savings account?
For now, we only offer our equity savings accounts to individuals aged 18 years or older. The service is not available for businesses or organisations. Opening an equity savings account for a child or a legally incapacitated individual will become possible a little later.
What features will be supported by the first version of OP’s equity savings accounts?
The first version of our equity savings accounts can be used to buy shares in Finnish companies listed on the Nasdaq Helsinki stock exchange or the First North Finland marketplace that execute their corporate actions in euros. You will not, however, be able to subscribe for shares in initial public offerings or secondary offerings.
Trading in foreign companies’ shares will be added to the service later. More information will be released in due course.
Can I move an existing equity savings account from another service provider to OP?
Future versions of the service will support moving equity savings accounts from other service providers to OP. More information will be released in due course.