Below is a list of banks in Denmark that you can bank with as an expat. When choosing a bank, you want to take into consideration your personal needs. If you are an expat and know very little Danish and unfamiliar with Denmark, you will want to probably bank with one of the larger banks.
If you are planning on living and working in a smaller community, than one of the local banks might serve your needs better. It is always best to shop around and talk to several banks and account managers before deciding on where to bank.
The top banks in Denmark are listed below in order of their working capital and annual loan amounts. Most expats choose one of the top 4 banks since their websites can be read in English, they have internet banking in English and have lots of branches to make it convenient using an ATM without fees.
As of 2020, many banks are closing many of their satellite offices, so you should check that there is a physical bank in your immediate area if you wish to do a lot of your banking face to face. Banks are mostly relying on internet banking or online banking to service their customer base.
Remember if you are not satisfied with your bank in Denmark, you can always switch banks. There are plenty of banks in Denmark and many are clamoring for your account.
Always check their overdraft fees, credit card fees, minimum balance requirements before deciding. Some banks require you to use their services for insurance, loans, investing, etc. to avoid banking fees.
It is quite easy and quick. Many times it can be done over the internet within a few minutes. A good service to use to check out fees and bank services is www.mybanker.dk .
If you come from America or Britain,you will be surprised to find out that there are no checks / cheques written in Denmark, so you won't be ordering check books.
Everything is moving to electronic banking. You will need to get a bank debit card, Dankort and an internet bank account set up. Also learn how to use the online billing and paying program, since bills are either sent by mail with a payment slip or online. You can use a Betalings Service for paying bills. It can all be done online.
The final thing is getting your NEM ID set up. Without a NEM ID you can not use online banking. NEM ID allows you to sign in to many national databases including your bank, borgerservice and SKAT (tax service), etc.. You will have your normal sign in code and a password. After you put those in you will get a 4 digit code displayed. From that code you find the corresponding 6 digit code that was sent to you. You get a list of 172 codes and each code is only used once. When you have used all the codes up, you get another code card. There is also an app available so you dont need to carry the card.
Of course you have to keep your code card safe, but now a thief has to figure out your sign in code, password and also get hold of your code card in order to access your account.
You can go to any bank for a loan. Even if you are not a customer of that bank. So always check around for the best rates when buying cars, home, boats or need a personal or business loan. Real Kredit is a popular bank for real estate loans.
Learn more about banking with banks in Denmark and what you need to do to open a bank account for yourself.
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