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Nordea review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Nordea suits savers in Finland who want a balance they can reach at any time at a fixed rate, and deposits under the EU deposit guarantee scheme of EU DGS up to EUR 100,000. The catch is cost: a monthly fee of €2.60 and 2.5% on conversion weigh on small balances.

Key facts

Best for
A fixed rate savings account for savers in Finland who want instant access to a protected balance.
Monthly fee
€2.60↗
Deposit protection
EU DGS up to EUR 100,000↗
Currency conversion fee
2.5%↗
Currencies
6↗
Local account details
IBAN↗
Free ATM withdrawals
€4↗
Transfer fee
Foreign (non-SEPA) outgoing transfer 7.00 EUR online, 32.00 EUR express; incoming 7.00 EUR; own-account currency transfer 0.00 EUR↗
Legal entity
Nordea Bank Oyj↗
Headquarters
Finland↗
Founded
2000↗
Support channels
Chat, Phone, Help-centre↗
Audience
Teens
Pricing model
No monthly fee, Fixed rate
Features
Free ATM withdrawals
Official website
nordea.fi

Savings

Headline rate
0.4% to 3%↗
Rate type
Fixed↗
Minimum deposit
€0↗
Access terms
Withdrawals and deposits at any time, no limits on deposit amount or term, covered by deposit guarantee↗
Account kind
Easy access↗

Money transfer

Payout methods
Bank↗
Fee to send 1,000
€7↗

Facts checked September 26, 2026, 10 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataWikipediaLinkedInXnordea.com

Pros and cons

Pros

  • Withdrawals and deposits are open at any time, with no cap on the amount or the term, and the balance sits under the EU deposit guarantee scheme, EU DGS up to EUR 100,000.
  • A fixed rate of 0.4% to 3% on a minimum deposit of €0, so the return is known from the first day.
  • Free cash machine withdrawals, free atm, within an allowance of €4.
  • Support runs on chat, phone and help centre, so a question can reach a person on chat or the phone.

Cons

  • A monthly fee of €2.60 is charged, where the site median is €0.
  • Currency conversion costs 2.5%, where the typical figure on the site is 0.5%.
  • Transfers outside SEPA carry an online fee and a higher express charge, though a currency transfer between your own accounts is free.
Nordea

Ready to try Nordea?

Scored 8.8 / 10 by VaultCue.

See alternatives

Who it suits

  • Savers in FI who want a fixed rate and can reach the money at any time.
  • Teen account holders, since the listed audience is teen, teen, and the minimum deposit is €0.
  • People who want help from a help centre, a chat line or a phone line through chat, phone and help centre.

Who should look elsewhere

  • PayPal Colombia, whose monthly fee is $0 against €2.60 here.
  • Skrill, whose monthly fee is €0, if a recurring monthly charge is the deciding factor.
  • eToro, whose monthly fee is £0, for anyone who only needs a wallet and not a fixed rate account.

Who runs it

The entity behind the account is Nordea Bank Oyj, based in Finland and formed in 2000, so it is a long established banking name rather than a new entrant. Support runs on chat, phone and help centre, which means a question can go to a help centre, a phone line or a chat rather than sitting in a form queue. The banking entity and support routes are both clear, which helps when placing this account beside other savings options.

How Nordea compares

Where Nordea is available

Available
Denmark, Finland, Norway, Sweden
Licence in Finland
European Central Bank, checked September 26, 2026
Licence in Finland
Finanssivalvonta (Finnish Financial Supervisory Authority), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the account cost each month?+

The account carries a monthly fee of €2.60, while the site median monthly fee is €0. Currency conversion is charged on top at 2.5%, and transfers between your own accounts in the same currency are free.

Is my money protected?+

Deposits sit under the EU deposit guarantee scheme, EU DGS up to EUR 100,000, and the account comes from Nordea Bank Oyj in Finland. You can deposit and withdraw at any time, with no cap on the amount you hold or the term you keep it, and the guarantee applies to the balance.

What rate do I get, and can I take the money out?+

The rate is 0.4% to 3% and the rate type is fixed, so the return does not shift with the market. It is an easy access account, and withdrawals and deposits are allowed at any time with no limit on the deposit amount or the term.

How much do I need to open it, and are cash machines free?+

The minimum deposit is €0, so the account opens without a required amount. Cash machine withdrawals are free under the free atm feature, with an allowance of €4 before charges apply.

Can I hold more than one currency?+

The account covers 6 currencies and gives local account details as iban, which suits receiving euro payments. Conversion between currencies costs 2.5%, so holding several balances only pays off if you spend most of them.

What does sending money outside the euro area cost?+

Transfers outside SEPA carry a fee when sent online and a higher charge for express delivery, and incoming transfers are charged too. A currency transfer between your own accounts is free. The published transfer fee is €7.

Sources

Compiled from 12 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type.

Nordea

Nordea

A fixed rate savings account for savers in Finland who want instant access to a protected balance.

8.8/10See alternatives