Transfer of settlement services


Service description

If you have considered the transfer of your settlement services (hereinafter “Settlements”) to another payment service provider operating in Estonia (hereinafter a “Service Provider”), then Service Providers will advise and assist you in making the necessary operations and provide the service for transfer of settlement services (hereinafter “Transfer”). In some cases, only a partial transfer of payment services is possible.

The transfer is offered only to consumers and only Service providers operating in Estonia. The transfer involves the transfer of a current account and related Billing (i.e., e-Invoice fixed-term contracts and standing orders). Within the framework of the Cross-Border Transfer, the Service Providers will assist you with gathering the necessary information.

In accordance with the law, you can choose whether you want to transfer to a new Service Provider:

  • a current account with all fixed orders and e-invoice permanent payments contracts (full settlement of the billing service) or
  • only standing order and e-invoice payment contracts chosen by you (partial transfer of billing services).

Notwithstanding the above mentioned, as Pocopay does not provide fixed income and standing orders for e-invoicing, these services cannot be transferred from Pocopay to another Service Provider or from another Service Provider to Pocopay.

Transferring a current account means closing the current account with the former Service Provider and opening a new current account with the new Service Provider. Upon transferring the current account, the number of the current account will change. Upon opening a current account with the new Service Provider, the general terms and conditions of the new Service Provider shall apply. Upon opening a current account with the new Service Provider, user rights to the current account need to be re established.

Exclusion and impediment

You must bear in mind that the Transfer is not possible if any of the following exclusionary grounds are applicable:

  • Your current account with the former Service Provider has been seized;
  • You have a debt to the former Service Provider;
  • the transfer of a current account and related billing services is obstructed by other legal restrictions.

Upon a partial transfer of settlement services, the current account opened with the former Service Provider will not be closed, and the current account service agreement will remain valid.

Transfer deadlines and fees

The entire transfer process takes up to 1 month.

In the process of transfer, as a rule, the closing of a current account in the former bank will be free of charge for you. The transfer of the current account balance is, however, subject to a fee and you must consider the following:

  • The transfer is subject to the price list of the former Service Provider. Upon a transfers in currencies other than the euro, a service fee for a cross-border transfer is applicable in accordance with the price list of the former Service Provider.
  • If your current account opened with your former Service Provider has funds in a currency which the new Service Provider does not settle, then the relevant funds will be converted according to the sales rate applied by the new Service Provider.

In any case, we encourage you to see the Service Providers price lists. Other transfer related services must be paid according to the Service Provider’s price list.

Upon using the transfer service, it is important to do things in the right order.

The first step

Select the Service Provider where you want to transfer your billing services and find out whether and under what conditions the new Service Provider offers services that interest you. Contact this Service Provider and submit an application to initiate the transfer process.

The second step

The new Service Provider is your point of contact, from there you can get all information regarding whether the transfer is possible or whether there are any obstacles to the transfer process, how much time the process takes and other necessary information.

If you wish, then in accordance with your application, the new Service Provider will request the former Service Provider and identify the transfer feasibility, as well as all the information about the former Service Provider’s valid standing orders and e-invoice fixed payment contracts, as well as submitted but not yet paid e-invoices to the former Service Provider.

The former Service Provider’s response will reach the new Service Provider within 8 business days. If you wish, you can still receive this information from the Service Provider and submit it to the new Service Provider yourself.

The new Service Provider will inform you of the receipt of your response and you will agree together on which billing services will be transferred to the new Service Provider. Certainly, the new Service Provider will also inform you if the transfer cannot be carried out due to exclusion or impediment. To resolve these matters, you need to communicate directly with your former Service Provider.

The third step

If the transfer is possible, your new Service Provider will provide you with a letter form upon request, by which you will be able to notify all your contractual partners (for example, an employer or a contractual partner who makes regular payments to you, etc.) on your new account.

The new Service Provider will forward to the former Service Provider, according to your request, the final order for either:

  • closing an account, transferring the remaining balance on the account to the new Service Provider, and terminating transferable settlement services contracts and other account-related banking services; or
  • terminating transferable settlement services related to the account.

You can read more about transferring settlement services at the website of the Estonian Banking Association For all questions, you may contact the Services Providers for the Transfer Services.

Dispute resolution

The transfer of a settlement service is governed by Estonian law.

The parties will try to settle all disputes by agreement.

If you cannot reach an agreement with a Service Provider, you can contact the Consumer Disputes Commission at the Consumer Protection Board (Pronksi 12, 10117 Tallinn,, who can also be contacted through the online dispute resolution environment at The Commission’s rules of procedure can be found at

If the dispute cannot be settled by agreement, it will be settled in court in accordance with the general terms and conditions of the respective Service Provider.