Banking in Denmark

Have you recently moved to Denmark, the country with beautiful forests, stunning coastline, best education and healthcare system? To enjoy all the impressive facilities of the country and to lead a stable life here, having a bank account is necessary.

The banking sector is relatively large in Denmark. As you are new to the country, selecting the best bank in Denmark can become a complicated task for you. Several small institutions and a few international organizations comprise Denmark’s banking industry.

While deciding which bank to choose in Denmark, you will come across approximately 110 Danish banks. Of these around 29 are foreign, and near about 81 are domestic banks. 
As most of the transactions in Denmark are done via online banking, so opening a free bank account Denmark in the best bank in Denmark is necessary.

For opening an account in the banks in Denmark you require:

  • Photo ID – proof like a passport. Some banks can even ask you to get a notarized copy of this.
  • CPR number – all Denmark residents have this unique 10 digit identity number.
  • Address Proof – rental contract or utility bill is the valid proof that banks accept.
  • Employment contract or your proof of being a student in the university is also required.

If you don’t know how to speak Danish, the simple way to get access to a bank is to head to your local bank. They will guide you well about their different banking options and help you choose the best one. However, this will take a lot of time. It is nowadays easy to arrange a bank account online. We have selected the best banks in Denmark for you with the use of the following criteria:

Banking in Denmark
      English speaking customer service
      Free creditcard
      Clear Savings account
      Flexible contracts
      Clear contracts (no hidden costs)
      Fair credit rate
      Low withdrawal fees

  

Company
Pro’s /Con’s
Rating
#1 -The best Danish bank
 
n26 Danish bank

★★★★★
Rating

This mobile bank is a great option of expats as it helps you in managing your bank account anytime anywhere.

      Access to a free bank account without any processing fees
      All the transactions are secured with 3D technology
      You can keep track of your transactions
      The customer support service is available in different languages
      The app allows you to easily organize your finances
9.0
Visit n26.dk
#2
 
Danks bank

★★★★☆
Rating

A great bank if you already have a Danish CPR number – Great customer service, however website only in Danish available.

      You can gain access to your account immediately after you set it
      Delivers excellent customer service
      Save money on regular transfers
      Clear digital overview of your finances
8.6
Visit Danskebank.dk
#3
 
Nykredit Danish bank

★★★★☆
Rating

Relatively low fees and easy to lend – however slower customer service response and the bank process is not streamlined

      The bank offers multiple digital banking solutions
      You can get mortgage-free loans here
      Get an overview of your finances easily and quickly
      Trade securities with a standard bank account
      ✘ Some customers reported a delay in customer service
      ✘  Users complain that bank processing is not streamlined
8.1
Visit Nykredit.dk
#4
 
Lands bank

★★★☆☆
Rating

Great customer service, but if you don’t have permanent residency in Denmark for some years it’s not possible to get an account.

      The bank offers the best customer service to its account holders
      Full support in English
      Great staff provides professionalized services
      ✘  Difficult to get loan if you don’t have a permanent residency
      ✘  Customer’s experience hidden charges
7.2
Visit Arbejdernes Landesbank.dk

Banking options in Denmark

Being a non-Dane, are you thinking that opening a bank account in a Danish bank is tough? You can relax, as finding the best bank for expats in Denmark and opening the best Danish bank account is much easier than what you are thinking. To make it easier for you, we are listing here the different types of accounts that you can open in Denmark.

Different bank accounts that help you receive several benefits are:

  • Savings account – After making Danish banks comparison, if you are thinking of opening a savings account, it lets you enjoy several benefits. These include the availability of funds always, keeping your money safe, processing automated bill payments, etc. 
  • Easy account / Designated bank account – All the people who work or live in Denmark require an easy account. It is a current account to which payments like tax refunds are done. These are payments done by the state. This account makes transactions easier and faster to make it cost-effective.
  • Current account – It is the best choice for most of the users because it allows prompt business transactions. There are no limitations on the withdrawals and deposits in the home branch. It allows businesses to make direct payment using pay orders, demand drafts, and cheques. You also get mobile banking, internet banking, and overdraft facilities in this account.

Along with the accounts mentioned above, loan account, credit account and some other type of bank accounts are also available.


FAQ about Banking in Denmark

Every bank has different charges for its services. Fortunately, it is easy for you to access bank products from a wide range of banks on several online banking websites. 

You can compare several banks based on different loans, like home loans and consumer loans. The comparison website also allows you to compare the price to set up a savings account and all the costs associated with it. 

Also, you can compare the price of a debit card or a credit card that a particular bank offers and the interest amount for withdrawing an amount using ATM. 

N26 is considered as the best Danish banks in Denmark. The mobile bank offers you complete digital banking solutions, that are transparent and straightforward. An app is also provided, which integrates with the most innovative technology. It enables you to live and bank your way and make your life easier.

Advantages

  • You can gain access to a free bank account without any additional processing fees.
  • All of the transactions are fully secured with 3D secure technology.
  • You can easily keep track of all your transactions.
  • The customer support service is available in different languages like English, Italian, German, Spanish, and French.
  • The Bank App helps you to organize your finances efficiently.

If you want to switch your bank account in Denmark, it is not tough. Just find that bank in which you want to open your account. Then visit the branch and fulfil their requirements. As every bank is different, so there will be a difference in the services and products of the bank.

We advise you to compare the banks, their interest rates, services, loan price, etc. before switching banks.

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