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Registered associations (Ry) and locally operating foundations

We provide small-scale registered associations with comprehensive banking services to meet their payment, investment and financing needs. Nordea Business Centre offers flexible support in various corporate banking matters.

Required actions of signatories for associations in case of changes to user rights and services

The precondition for making changes to users’ authorisation and the association’s banking services is that the bank has up-to-date information on the Executive Committee of the association and any changes taking place in the association.

In any change situations, please follow the instructions below (Instructions for signatories for associations).

1. Gather all relevant documents

Gather all relevant documents

  • Specified and signed minutes of the Executive Commitee confirming the need for change
  • Signed minutes or extract from the minutes reporting the election of the Executive Committee
  • An up-to-date extract from the Register of Associations
  • The rules of the association
  • Names and personal data of the members of the Executive Committee (name, nationality, country of residence, date of birth, and a note whether the person is a politically exposed person (PEP) or not)
  • Contact information on the new authorised user 

You must deliver all the documents to the bank, after which it will make the requested changes. We recommend that you have the documents at hand.

2. Please submit the documents to Nordea via Omaposti
3. We will send you the login codes for updating customer information
4. Once you have received the user ID and the login code, update the customer information
5. Please call Nordea Business Centre to enforce the changes

Frequently asked questions about the banking of registered associations

1. What should I do when changes are needed for the banking services of an association?

The person authorised to sign for the association can make the changes easily by following the instructions above. Please follow the instructions carefully step by step. After you have delivered the required information and documents, you can make the changes effective by calling Nordea Business Centre, tel 0200 26262 (Mon–Fri 9.00–16.00).

2. What do you mean by specified minutes?

The minutes must specify which banking services are to be opened and for whom. If there is a need to terminate services or delete user authorisations, this must be also specified in the minutes. The minutes must be signed. We recommend that you use this template for the minutes. (docx, 32 KB)Opens new window

3. Why do I need to update customer information?

Just like all other banks, we have a statutory obligation to identify and know our customers. The bank must always have up-to-date information on the association. We need detailed information, for example, on the Executive Committee members (personal identity number, country of residence, nationality and a note whether the person is a politically exposed person (PEP) or not).

4. Why haven’t I received the required login codes for updating customer information as stated above?

If you have not received the login codes within three banking days once you have submitted the documents:

  • Please check that the phone number you have given via Omaposti is correct
  • The user ID will be sent to Omaposti and the login code in an SMS
  • Our Customer Service may be busy at times
5. How can I open an account for my association?

To open an account, we will need the following documents:

  • An up-to-date extract from the Register of Associations
  • The rules of the association
  • Signed minutes of the Annual General Meeting / minutes on the election of the Executive Committee
  • List of the Executive Committee members: Information about the members of the Executive Committee (full name, nationality, country of residence, date of birth and a note whether the member or a close relative of the member is a politically exposed person (PEP) or not). For members of the Executive Committee registered in the Finnish Register of Associations, please also provide their personal identity numbers.  
  • Specified and signed minutes of meeting of the Executive Committee (which services are to be opened and who is authorised to open the services (see template for the minutes of the Executive Committee below)
  • A copy of the identity document of the representative of the association

Please submit the documents via Omaposti here.

  1. Log in to Omaposti with your personal online banking codes.
  2. Select “Registered associations and foundations” as the topic of your message.
  3. Write the name of the association and your phone number in the message field. 

Find the identity documents accepted by Nordea here. 

A template for the minutes of the Executive Committee is available here. (docx, 32 KB)Opens new window

Once you have delivered the required documents to us, you can easily open an account by calling Nordea Business Centre, tel 0200 26262 (Mon–Fri 9.00–16.00).

6. What service fees are charged for an association’s banking?

We have simplified our pricing by providing package solutions that cover the most typical banking needs of registered associations. Please contact us if you need any additional services.

7. How is the banking of an unregistered association done?

The services are opened in the name of the person who has been chosen to be responsible for the association’s banking. You can open an account and services by calling Nordea Customer Service at 0200 70 000.

Please note: An association that is not in the Register of Associations cannot obtain any rights or make commitments. It is not a legal entity and therefore cannot act in its own name. Those who act or make decisions on behalf of an unregistered association are personally and jointly liable for any obligations arising from those actions. Other members of the association are not liable for such obligations. Furthermore, an unregistered association may not own property in its name.