Opening a personal bank account in Denmark. What are the offers? What is the procedure?

Settling in Denmark can feel like jumping through hurdles, and opening a bank account often feels like the tallest one. While many complain about long delays and cumbersome processes, being proactive helped me successfully open accounts at Lån & Spar and Jyske Bank. Hopefully, with the right information in hand, this article will make the process much smoother for you.

Why do you need a bank account?

Simply put, it’s like standing at the doorstep of settling in Denmark, but missing the key. A personal bank account is essential for receiving your salary, making everyday payments, covering utility bills, and receiving grants or payments from Danish authorities, such as housing benefits, SU, or tax refunds via a NemKonto; a designated bank account for government payments. Additionally, it’s necessary for setting up MobilePay, Denmark’s widely used mobile payment service.

I’ve structured this article as a step-by-step guide so that whether you’re planning your move to Denmark or you’re already here and haven’t yet opened a bank account, you’ll have a clear and straightforward roadmap.

We’ll go through:

1. What are the banks in Denmark for you to open your personal bank account and the types of personal accounts available for you?
2. The Big Question: Do you qualify to open a personal bank account?

3. How to reach out to a bank and get started?

Let’s get you a bank account!

1) What are the banks in Denmark for you to open your personal bank account and the types of personal accounts available for you?

When choosing a bank in Denmark to open your personal account, it’s a good idea to think about what services you’ll need. There are over 40 banks to choose from, but understanding your expectations can help narrow it down. Here are a few things to consider:

1. Account Type: Do you need a basic payment account, salary account, expense account, or perhaps a savings account?
2. Fees: Be sure to check any fees for opening the account, as well as annual fees, debit/credit card charges, and fees for cash withdrawals or transfers.
3. International transactions: If you plan to send or receive money to/from abroad, it’s worth looking into any fees for international transfers.
4. Other Benefits: Take a look at the benefits for account holders, like interest rates, personal advisors, mobile and online banking, and online appointment booking with your financial advisor.

With all this in mind, you’ll be in a better spot to choose the right bank for your needs.

Now that you have a clearer understanding of your expectations, let’s take a look at a few popular banks in Denmark and the options they offer:

1. 1. Danske Bank [https://danskebank.dk/en/personal/products/accounts]
      As the largest bank in Denmark, serving over 5 million retail customers, Danske Bank offers a range of private accounts. They charge an annual fee for account maintenance, with additional fees depending on the services you choose. They have five types of private accounts to suit various needs.
   2. Jyske Bank [https://www.jyskebank.dk/privat/konti]
      Jyske Bank provides a variety of account options, especially for savings accounts. The maintenance fee depends on the volume of business you do with the bank and is charged monthly but paid quarterly.
   3. Nordea Danmark [https://www.nordea.dk/privat/produkter/konti-og-betalinger/]
      Nordea offers a range of account options, with a flat quarterly fee of 120.00 DKK for all private customers. This fee includes several services for a smooth everyday banking experience.
   4. Sydbank [https://www.sydbank.dk/privat/daglig-oekonomi/konti-og-budget]
      As the 6th largest bank in Denmark by assets, Sydbank offers basic payment, salary, and budget accounts. The basic payment account has a monthly fee of 45.00 DKK, while salary and budget accounts are free of annual charges.

• Lån & Spar [https://www.lsb.dk/privat/produkter/konti]
  Lån & Spar is a popular choice, especially for students. Owned by over 50 trade unions, the bank is known for offering the highest interest rates on salary and student accounts. It’s a favorite for students due to the targeted benefits it provides.

2) The Big Question: Do You Qualify to Open a Personal Bank Account?

Before opening a bank account in Denmark, it’s good to know what’s required. While the process is generally straightforward, banks may ask for additional documents based on their policies. Here’s a basic checklist of what you’ll need:

Essential Documents

1. Identity Document – A valid passport or driver’s license
2. CPR Number & Danish Address – Provided through your Sundhedskort (health card) or residence card
3. MitID – Required for completing the account setup and enabling online/mobile banking

Optional Documents (May Be Requested by the Bank)

• Rental agreement
• Admission letter from your university if you are a student
• Employment contract from the workplace
• Personal tax records 
• Foreign bank account details

💡 Good to Know: There’s no mandatory deposit required to open an account—you decide how much to deposit when setting it up.

Having these documents ready will make the process smoother and help you open your account without delays. 

3) How to Reach Out to a Bank and Get Started

I decided to visit the bank in person during their limited opening hours (usually between 10:00 AM – 4:00 PM). Since I had just moved to Denmark and wasn’t familiar with the process, this felt like the best option. However, you can also apply online by visiting the “Bliv Kunde” (Become a Customer) section on the bank’s website and filling in your details. 

Once you submit the form, a bank representative will typically contact you within the specified number of working days (this timeframe is usually mentioned on the form). 

From there, you’ll typically receive:
✔ A link to a more detailed form OR
✔ Instructions to download the bank’s mobile app to submit additional details and upload documents. When uploading documents, make sure they are clear, with all reference numbers (CPR number) visible, and include both front and back pages if applicable.

Once you’ve completed this step, the bank will review your application and confirm your account opening within no less than seven working days. If it takes longer, follow up via the bank’s mobile app, email, or phone call.

Once approved, you’ll receive agreements to sign with the bank. Carefully read and understand the clauses before signing, and if anything is unclear, reach out to your financial advisor. You can access these agreements at any time through the bank’s mobile app.

Many banks offer the option to view the mobile banking app in English, so check the app settings for this feature until you familiarize yourself with Danish banking terms.

Congratulations! The hardest part is done. But don’t stop here; invest time in understanding other banking products, such as mortgages, business accounts (if you’re an entrepreneur), budgeting tools, standing orders, and special offers or discounts with retailers.

A few additional tips:

💡 Always check with your financial advisor that the account you open can also be assigned as your NemKonto. Although usually this is enabled, you should recheck this during the account opening process.

💡 If you’re unsure about any documents the bank is requesting, it’s always best to contact the relevant Danish authority (e.g., SKAT, SIRI, etc.) for clarification, in addition to seeking support from the bank. Some bank branches or financial advisors may not have much experience working with international customers, so getting the correct information directly from the authorities can help speed up the process.

💡 Download the e-Boks or Digital Post apps to stay updated with important letters and notifications from the bank. If possible, request to receive such communication in English.

💡 Be aware that processing times may be longer if you apply during seasonal holidays in Denmark, as many bank employees take time off.

I wish you financial prosperity and a smooth journey settling in Denmark.

Alt det bedste!