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Dominique Sigros
Head of International Desk Central and Eastern Europe

Support by the
Crédit Agricole group

Last updated: august 2021

The International Central and Eastern Europe Desk of the Crédit Agricole Group, based in Vienna, provides support, with a local frontline partner bank, to the Group’s business clients in Estonia to help them implement their operations on location, particularly financial advice, opening accounts, financing residents and providing information on local businesses.

For non-banking matters, the International Desk offers the support of local law, notary and accounting offices and its partners as well as expertise in business internationalisation.

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Means of payment

With Estonia

Company cheque

Bank cheque

SWIFT transfer

Bill of exchange

Promissory note

Documentary remittance

Documentary credit

Usage

Weak / None

Weak / None

Common

Weak / None

Weak / None

Weak / None

Common

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Advice from the
international desk

Means of Payment & Banking Specificities

In Estonia cash payment by SWIFT transfer before shipment is highly recommended. Bank cheques or cheques issued by businesses should not be used. They are not used in Estonia apart from by foreign banks that issue cheques in currencies payable outside of Estonia.

The provision of an export credit agency backed financing or, potentially, an irrevocable and confirmed letter of credit should also be considered.
The confirmation of documentary credits in Estonia is possible based on the counterparty, the length of the commitment, and the willingness to deal with the country’s risk rating.

The majority of transactions in Estonia are carried out using payment in advance, as advised above.

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