Starting a Cooperative in Finland

Opening of a bank account


The cooperative has to have a bank account. The Anti-Money Laundering Act requires the banks to analyze more extensively the background and the creditworthiness of the owner’s of a bank account. It is useful to grant the access right to two persons; the financial clerk and an alternate (e.g. chairperson of the board of directors or managing director). It is worthwhile to apply for a debit and credit card for the cooperative.