Bank Comparison for Expats in Denmark

Updated By exploringdenmark

Every expat in Denmark needs a bank account – for salary, NemKonto, MobilePay, and daily life. But Danish banks are notoriously difficult for foreigners to open. This is an honest, side-by-side comparison of every option, ranked by what actually matters: can you get in the door, and does it work in English?

Lunar Digital · Free Opens: 1-3 days Easy

Danske Bank Full-service Opens: 1-3 weeks Medium

Nordea Nordic coverage Opens: 1-3 weeks Medium

Wise Multi-currency Opens: same day Easy

OUR RECOMMENDATION Lunar first → Danske Bank once settled

Overview

Denmark is essentially cashless. Your salary goes to your NemKonto, bills are paid by Betalingsservice, and even the smallest purchases are card or MobilePay. A bank account isn’t optional – it’s infrastructure.

The problem: Danish banks have strict anti-money laundering (AML) requirements and some branches are reluctant to open accounts for newcomers. Your experience varies by bank, branch, and even the individual employee you speak with. This guide cuts through the noise.

Full comparison table

Bank English Ease of Opening Free Account Dankort MobilePay Best For
Lunar ✓ Full Easy (1-3 days) ✓ Free ✗ No ✓ Yes Getting started fast
Danske Bank ✓ Good Medium (1-3 wks) Basic free ✓ Yes ✓ Yes Full-service banking
Nordea ✓ Good Medium (1-3 wks) Basic free ✓ Yes ✓ Yes Nordic coverage
Jyske Bank Partial Medium ✓ Free ✓ Yes ✓ Yes Friendlier branches
Wise ✓ Full Easy (same day) ✓ Free ✗ No ✗ No International transfers
N26 ✓ Full Easy (same day) ✓ Free ✗ No ✗ No EU-wide banking

Lunar

Best for: getting your first Danish bank account fast.

  • 100% digital – no branch visit. Download the app, submit ID + CPR, verified in 1-3 days.
  • Full English app and support.
  • Free basic account with Visa debit card.
  • Can be used as NemKonto.
  • MobilePay works with Lunar’s Visa card.
  • No Dankort – Visa works almost everywhere, but a few old terminals and parking machines still need Dankort.
  • No mortgage or investment products. It’s a digital current account, not a full bank relationship.
  • Rarely rejects expats – if you have a valid CPR and passport, you’ll almost certainly get in.

Danske Bank

Best for: long-term full-service banking.

  • Denmark’s largest bank. Full range: savings, investments, mortgage, insurance.
  • English-language app and online banking. English-speaking staff at most branches.
  • Danske Basis account is free. Premium packages (Ekstra, Eksklusiv) cost 45-350 DKK/month.
  • Dankort + MobilePay included.
  • Harder to open for newcomers. Some branches require employment contract and proof of address. Process: 1-3 weeks including appointment wait.
  • Best for mortgage access if you plan to buy property in Denmark.

Nordea

Best for: Nordic-wide banking.

  • Scandinavia’s largest financial group. Easy transfers between Nordea in DK, SE, NO, FI.
  • Good English app and support.
  • Free basic account. Dankort + MobilePay.
  • Similar difficulty to Danske Bank for new accounts.
  • Strong investment platform.
  • Copenhagen city branches have more experience with expats – try those first.

Jyske Bank

Best for: personal service and better odds of opening.

  • Denmark’s third-largest bank. Known for friendlier customer approach.
  • Often more willing to open accounts for newcomers than Danske/Nordea.
  • Free basic account with Dankort + MobilePay.
  • English support is more limited – some branches are Danish-only. Stronger in Jutland than Copenhagen.
  • Good personal advisory – if you can find an English-speaking advisor.

Wise (formerly TransferWise)

Best for: bridge account and international transfers.

  • Not a Danish bank – a multi-currency account with a Danish DKK IBAN.
  • Can be registered as NemKonto (register at nemkonto.dk with your IBAN).
  • Excellent exchange rates – best option for sending money home.
  • Opens immediately. No CPR required (but CPR is needed for NemKonto registration).
  • No MobilePay, no Dankort, no Betalingsservice. These are the limitations.
  • Perfect as a first account while waiting for a Danish bank to process your application.

N26

Best for: EU-wide alternative.

  • German digital bank with EUR-based accounts. Issues a Danish-compatible IBAN.
  • Can serve as NemKonto. Free basic account.
  • Good app, full English.
  • Same limitations as Wise: No MobilePay, no Dankort, no Betalingsservice.
  • Currency conversion costs if your salary arrives in DKK and the account is EUR-based.

Our recommendation

The two-bank strategy

Day 1: Open Lunar (or Wise as a bridge). Get your NemKonto set up immediately to receive your first salary.
Month 2-3: Once you have payslips and are settled, open a Danske Bank or Nordea account for full-service banking (Dankort, potential mortgage). Keep Lunar as a backup – many expats use two banks permanently.

Why two banks?

  • Lunar solves the immediate problem – you need a NemKonto before your first payday
  • Traditional bank solves the long-term need – Dankort for the rare terminals that don’t accept Visa, mortgage pre-qualification, and a full banking relationship
  • Having a backup account means you’re never locked out if one bank has technical issues or freezes your account for AML checks (it happens)

Documents needed to open

Document Lunar Danske/Nordea Wise
Valid passport ✓ ✓ ✓
CPR number ✓ ✓ For NemKonto only
MitID Helpful Often required No
Proof of address CPR letter Lease + CPR No
Employment contract No Often requested No

MobilePay compatibility

MobilePay is Denmark’s universal payment app – used for splitting bills, paying at shops, and even at some vending machines. It requires a Danish-issued card:

  • Lunar Visa card: Works with MobilePay
  • Dankort (Danske, Nordea, Jyske): Works with MobilePay
  • Wise/N26 cards: Don’t work with MobilePay
  • Foreign cards: Don’t work with MobilePay

This is another reason the two-bank strategy works: Lunar for MobilePay from day one, traditional bank for Dankort later.

Common problems

Rejected by Danske Bank / Nordea

Don’t take it personally – AML regulations have made banks cautious. Try a different branch (Copenhagen city branches have more expat experience), or try Jyske Bank. If all traditional banks reject you, Lunar is your safety net – it’s specifically designed to be accessible.

I need a Dankort but only have Lunar

In practice, Dankort is needed in fewer places every year. Most shops accept Visa/Mastercard. Exceptions: some very old parking machines and a handful of small shops. If you specifically need Dankort, you’ll need a traditional bank alongside Lunar.

My salary arrives but I can’t access it

If you set up NemKonto but then your bank freezes your account for AML verification (it happens, especially to new accounts receiving their first salary), contact the bank immediately. This is usually resolved within 1-3 business days, but it’s stressful. Having a backup account prevents this from being an emergency.

Questions and answers

Can I use my home country bank account as NemKonto?

Yes – register your foreign IBAN at nemkonto.dk. Salary arrives in your foreign account. Downsides: potential transfer fees, no MobilePay, no Betalingsservice for bills. It works as a temporary solution but not long-term.

Do I need to close my account when leaving Denmark?

Not immediately – keep it open for deposit refunds, tax refunds, and final salary. Close it once all payments are received (typically 3-6 months after departure). See leaving Denmark guide.

Are there fees I should watch out for?

Basic accounts at all banks are free. Watch for: international transfer fees (Wise is cheapest), ATM fees abroad, premium package auto-enrollment, and negative interest on large deposits (rare for personal accounts but it exists in Denmark).

Sources

  1. Lunar – digital banking.
  2. Danske Bank – account types.
  3. Wise – multi-currency accounts.
  4. NemKonto – registration.