Sari Ruskeeniemi struggles to open bank account for erotic business in Tampere, Finland

Sari Ruskeeniemi, a business owner operating an erotic store in Tampere, Finland, is facing difficulties in opening a bank account. Finnish traditional banks have repeatedly denied her requests over the past year. “I have tried all the banks in Finland and various branches, but I simply cannot obtain an account that allows cash deposits,” she explained. She has shared screenshots of emails from banks refusing her application, citing overall evaluations, bank terms, and challenges in verifying a new business owner’s creditworthiness.

Ruskeeniemi believes there is nothing in her financial history that should prevent her from obtaining an account, and none of the banks provided specific reasons for their refusals. She expressed surprise at being treated as a “second-class citizen” just for selling products related to adult content.

In responses from different banks regarding their account approval policies, Oma Säästöpankki’s representative clearly stated they do not allow businesses in the sex industry to open accounts, categorizing erotic businesses under adult entertainment activities. Other banks, like Osuuspankki and Nordea, noted that account approval is based on a comprehensive assessment rather than strict industry restrictions, albeit emphasizing the need for banks to mitigate risks.

The Financial Supervisory Authority’s lead lawyer, Sanna Atrila, mentioned that banks are not obligated to accept all businesses as clients and are increasingly cautious about smaller enterprises due to money laundering risks. Currently, Ruskeeniemi is limited to online banks, which complicates cash transactions, especially since many customers prefer to pay in cash for privacy. As a result, she has had to scale back her cash operations, highlighting the difficulties of banking access for unconventional businesses.