How to Choose a Bank in Denmark

Overview

Denmark is essentially a cashless society. Your salary goes to your NemKonto, bills are paid by direct debit, and even the hotdog stand takes MobilePay. A bank account is one of the first things you need after your CPR number and MitID.

The challenge: Danish banks have strict anti-money laundering (AML) requirements, and some branches are reluctant to open accounts for people they perceive as temporary residents. Your experience will vary by bank, branch, and even the individual employee you speak with.

Bank comparison table

Danske Bank

Denmark’s largest bank. English-language app and online banking. Full range of services: savings, investments, mortgage, insurance. The Danske Basis account is free for basic banking.

• Pros: Best English support among traditional banks. Extensive branch network. Full Dankort and MobilePay. Mortgage and investment products.
• Cons: Can be slow to open for new arrivals. Some branches require an employment contract. Premium packages (Danske Ekstra, Danske Eksklusiv) cost 45–350 DKK/month.
• Opening: Book an appointment online or call. Bring CPR, passport, proof of address, and employment contract. Processing: 1–3 weeks.

Nordea

Scandinavia’s largest financial group. Good if you have accounts in other Nordic countries — easy to transfer between Nordea entities.

• Pros: Good English app. Strong investment platform. Nordic-wide presence. Free basic account.
• Cons: Similar difficulty to Danske Bank for new accounts. Can require several documents.
• Opening: Book online, bring standard documents. Some branches process faster than others — Copenhagen city branches have more expat experience.

Jyske Bank

Denmark’s third-largest bank. Known for personal service and a slightly more relaxed approach to new customers.

• Pros: Often more willing to open accounts for newcomers than Danske/Nordea. Good personal advisory. Free basic account. Dankort included.
• Cons: English support is more limited. Fewer branches in Copenhagen (stronger in Jutland).
• Opening: Call or visit a branch. Generally faster and friendlier for expats than the big two.

Lunar

Denmark’s leading digital bank. No branches — everything is done through the app. Specifically designed to be easy for expats.

• Pros: Entirely online application — no branch visit. Opens in 1–3 days. Full English app. Free basic account. Visa debit card. Good for people who’ve been rejected by traditional banks.
• Cons: No Dankort (Visa debit works almost everywhere but not at a few old terminals). No mortgage or investment products. Limited cash services.
• Opening: Download the app, submit ID and CPR. Verified within 1–3 business days. It’s that simple.

Wise and N26

These aren’t Danish banks, but they work in Denmark and can bridge the gap if you can’t open a Danish account immediately:

• Wise: Multi-currency account with Danish DKK account details. Can be used as NemKonto (register at nemkonto.dk with your IBAN). Excellent for international transfers. No MobilePay or Dankort.
• N26: German digital bank that works in Denmark. EUR-based but issues a Danish-compatible IBAN. Free basic account. Can serve as NemKonto.

How to open a bank account

1. Get your CPR number first. No bank will open an account without it. See the CPR guide.
2. Get MitID. You’ll need it for online banking. See the MitID guide.
3. Choose your bank. Use the comparison table above. If you’re in a hurry, start with Lunar.
4. Gather your documents. See below.
5. Apply. Online (Lunar, Wise) or by booking a branch appointment (Danske, Nordea, Jyske).
6. Wait for verification. 1–3 days for digital banks, 1–3 weeks for traditional banks.
7. Set up NemKonto. Once your account is open, register it as your NemKonto at nemkonto.dk.
8. Set up MobilePay. Link your Dankort or Visa to MobilePay.

Documents you’ll need

What to do if you’re rejected

Banks can reject applications for AML reasons — but they often give vague explanations. If you’re rejected:

1. Try another branch of the same bank. Different branches have different policies in practice.
2. Try a different bank. Rejection from Danske Bank doesn’t mean Nordea or Jyske will reject you.
3. Use Lunar. They rarely reject applications from people with valid CPR and passport. This is your safety net.
4. Ask your employer for help. Some employers have corporate agreements with banks that smooth the process.
5. File a complaint. If you believe you were unfairly rejected, you can complain to Pengeinstitutankenævnet (the Financial Complaint Board).

Switching banks

You can switch banks at any time. The new bank handles the transfer process — they contact your old bank, move direct debits (Betalingsservice), and transfer your NemKonto registration. The switch typically takes 2–3 weeks. You can keep your old account open during the transition.

Setting up NemKonto

Once your account is open, you must register it as your NemKonto to receive salary, tax refunds, and government payments. See the full NemKonto guide. The short version: log in at nemkonto.dk with MitID and register your account number.

Common problems

The bank wants my yellow health card but I haven’t received it yet

The yellow card takes 1–2 weeks after CPR registration. In the meantime, use the CPR confirmation letter from Borgerservice as proof. Some banks accept this, others insist on the card. If stuck, use Lunar (which accepts just CPR number + passport).

I need a Dankort but Lunar doesn’t offer one

In practice, Dankort is needed in fewer and fewer places — most accept Visa/Mastercard. The exceptions: some very old payment terminals, certain parking machines, and a few small shops. If you specifically need a Dankort, you’ll need a traditional bank account alongside Lunar.

MobilePay says I need a Danish card

MobilePay works with Dankort and most Danish-issued Visa/Mastercard debit cards. Foreign cards don’t work. Once you have a Lunar Visa card or a Dankort from a traditional bank, you can link it to MobilePay. See the MobilePay guide.

I want to use my foreign bank account as NemKonto

This is possible — register your foreign IBAN at nemkonto.dk. Your employer’s payments will arrive in your foreign account. Downside: international transfer fees may apply, and you can’t use MobilePay or Betalingsservice with a foreign account. See the NemKonto guide for details.

Questions and answers

How long does it take to open a bank account?

Lunar: 1–3 business days. Traditional banks (Danske, Nordea, Jyske): 1–3 weeks including the appointment booking wait.

Do I need to speak Danish?

No. Danske Bank, Nordea, and Lunar have English-speaking staff and English apps. Jyske Bank’s English support is more limited — you may need a Danish-speaking friend at the branch.

Are there monthly fees?

Basic accounts at all banks are free. Premium packages (Danske Ekstra, Nordea Plus) with benefits like travel insurance and higher transfer limits cost 45–350 DKK/month. Most expats don’t need these.

Can I have accounts at multiple banks?

Yes. Many expats use Lunar for daily banking and a traditional bank for Dankort/mortgage. You can only have one NemKonto, but you can hold multiple accounts.