The banking system in Denmark
The banking system in Denmark is modern, safe, and easy to understand. All expats with a valid residence permit are able to open a bank account and will have to do so in order to work in Denmark and receive a salary.
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The banking system in Denmark
Danish banks are generally open Mondays to Fridays from 10:00-16:00. On Thursdays, most banks are open for an extended hour until 17:00. Luckily, most banks offer 24/7 banking services online. Some of the major Danish banks include Danske Bank, Jyske Bank and Nordea.
Danish banks offer different services at competitive rates. One of the best ways to compare rights and find services is to use the Mybanker website (available in Danish only). Alternatively, check the English websites for major banks to find information about rates and services.
Visiting a branch is another way to get assistance in English as most banks have staff to assist foreigners in English. However, internet banking is not always available in English, so make sure to ask before opening an account.
How to open a bank account in Denmark
Read the fine print
Denmark has a very safe, modernised banking system. However, it's important to read the fine print about banking fees when you open an account. Here are some of the fees that banks could charge:
- Monthly or yearly charge for keeping an account open
- Credit or debit card usage fees
- ATM withdrawal fees
- International transfer fees
Although these fees might be small, it's best to be aware of the fine print for any account.
Get your papers in order
A Danish bank account can only be opened with a CPR number and a passport or national ID. This means that only expats with a valid residence permit and address that has been registered with the Danish authorities are able to open a bank account. It is a good idea to provide any supporting documents such as a work contract or university enrolment papers.
Expats may be able to apply for a new bank account online. Once you have chosen the desired bank institution and account type, complete the process online or go to the nearest bank branch for assistance.
Get a NemID
Once a bank account has been opened, expats need to apply for a NemID.
Anyone living in Denmark with a valid CPR number and ID can apply for a NemID. NemID is a system used for making digital signatures and secure logins. Expats can obtain NemID at their nearest citizen service centre (‘borgerservice') or at their bank.
Good to know:
NemID can only be requested online with a Danish driver's license or passport.
Why is this important? You will need a NemID to link your bank account to NemKonto.
Link to NemKonto
NemKonto, or ‘Easy account' is the service used for receiving payments from the public sector – for example, tax rebates and child support.
Without a NemID, you will not be able to link your bank account. NemKonto is linked to both your bank account number and CPR number.
Credit cards and Dankort in Denmark
Most Visa and Mastercard credit cards are accepted throughout Denmark, although some smaller stores and cafés might not accept them. Keep cash at hand for those times; there are lots of ATMs and banks available so withdrawing cash is easy.
A Danish debit card or Dankort can be requested once a bank account has been opened. Requesting a credit card may take several more months to be processed since a credit check will be carried out first.
Good to know:
Some shops may charge fees for the use of foreign credit cards. Check with the store before making a purchase.
