It can seem complex to find the best bank in Denmark as a foreigner and newcomer, but understanding which banks excel in specific areas can simplify your choice when it comes to choosing. Most major Danish banks offer a full range of services, yet some might be a better fit depending on your individual circumstances and priorities. In this guide, I will help you identify the best bank in Denmark for your needs, whether you’re prioritizing ease of setup, extensive branch support, digital convenience, or specific financial products.
Opening a bank account is one of the first practical steps many foreigners and newcomers will have to take after arriving in Denmark. And to open a bank account here, one must first find the best bank in Denmark for one’s needs. A local bank account is often required for receiving a salary, paying rent, setting up utilities, and using services like MobilePay or NemKonto (the national account for public payments).
However, finding the right bank is not always as easy as it may sound, and navigating the banks in Denmark can be confusing to many. This is especially the case if you don’t yet have a Danish CPR number (equivalent to a personal ID) or a permanent address. Danish banks vary widely in terms of cost, accessibility, and user experience. Many foreigners report difficulties due to a lack of English-language support, complex documentation requirements, or unclear account fees.
In this guide, I will compare the best bank in Denmark for expats, digital banking alternatives that don’t require a CPR number, and what details to look for when choosing a financial service provider to help you choose the best bank for your situation. I’ve selected the most expat-friendly best bank in Denmark and included the pros and cons of each bank, based on their English-language support, account fees, online setup process, and overall expat-friendliness.
Why You Need a Danish Bank Account
As a newcomer, you should not only open a Danish bank account out of convenience, but also because it’s often a necessity. Without a bank account in Denmark, everyday tasks can become difficult and sometimes even impossible.
You’ll need a local bank account to:
- Receive your salary or student grant (SU)
- Pay rent and bills
- Set up mobile and internet contracts
- Access online services such as MobilePay or e-Boks
- Use NemKonto (mandatory for receiving payments from public authorities)
In many cases, employers, landlords, and utility providers will only work with accounts that have a Danish IBAN. This is why you would want to set this up early to get properly settled in Denmark.
What Foreigners Look for When Choosing the Best Bank in Denmark
In a report from 2022 by the European Banking Authority, it’s noted that digital onboarding, transparency of fees, and multilingual customer support are top priorities for newcomers in Europe. Likewise, a survey made by InterNations in 2023 showed that expats in the Nordics often struggle with administrative bureaucracy, especially in areas like banking, housing, and tax setup.
Based on my own research and observations, the five main things foreigners in Denmark look for in a bank are the following:
- Simple account setup (especially with CPR and address delays. Most traditional banks require you to have a Danish CPR number. If you don’t have one yet, digital banks or international services may be your best option)
- English-language app and customer service
- Clear, predictable monthly fees
- Access to a Danish IBAN for salary and rent payments
- Compatibility with MobilePay and NemKonto
Comparison of Best Banks in Denmark for Foreigners (2025)
I’ve reviewed the most popular banks and financial services for foreigners living in Denmark, based on ease of use, fees, language support, and accessibility. Below is a quick comparison I’ve made to help you find the best option for your needs.
| Bank / Service | Type | Requires CPR? | English Support | Monthly Fees | Online Account Opening | Strengths | Limitations |
|---|---|---|---|---|---|---|---|
| Danske Bank | Traditional | Yes | Yes | DKK 40–70 | No (in-branch only) | Widely accepted; strong mobile app; NemKonto supported | Setup can be slow; fees |
| Nordea | Traditional | Yes | Yes | DKK 20–60 | No | Large bank; solid expat support | CPR required; complex documentation |
| Sydbank | Traditional | Yes | Partial | DKK 40–70 | No | Smaller branches = faster service | Limited English materials |
| Lunar | Digital (DK) | Yes | Yes | Free (basic) | Yes (fully online) | Fast signup; Danish IBAN; expat-friendly | Needs CPR; no physical branches |
| Revolut | Digital (EU/UK) | No* | Yes | Free (basic) | Yes | No CPR needed; great for travel | No Danish IBAN; limited employer acceptance |
| Wise | Digital (UK) | No* | Yes | Free (basic) | Yes | Excellent for transfers; holds many currencies | Not usable for NemKonto or CPR services |
| N26 | Digital (DE) | No* | Yes | Free (basic) | Yes | User-friendly; good for students | No Danish IBAN; not ideal for long-term |
*Note that digital banks like Revolut, Wise, and N26 do not issue Danish IBANs, which may be required by employers, landlords, and government institutions. However, they can be useful during your first weeks or months before you’re fully registered in Denmark.
If you’re looking to compare banks and find the best bank and most affordable option, I highly recommend using this free and non-binding service to find the best bank in Denmark. It’s designed to help people in Denmark easily navigate the banking market. It’s a simple and effective way to find the right bank for your needs.
Recommended Best Bank in Denmark for Businesses:
The major traditional banks are generally the primary choice for business banking due to their comprehensive services, advisory capabilities, and experience with corporate clients of all sizes.
- Danske Bank: Offers robust solutions for small, medium, and large enterprises, including international business banking, corporate finance, and treasury services. They have extensive experience with foreign-owned companies setting up in Denmark.
- Nordea: A strong contender for businesses, particularly those with Nordic regional operations. Nordea provides a full range of business accounts, financing options, cash management, and trade finance solutions.
- Jyske Bank / Sydbank: These banks also offer comprehensive business banking services, often with a focus on personalized advisory and tailored solutions for SMEs (Small and Medium-sized Enterprises). They can be excellent choices if you appreciate a closer relationship with your business advisor.
- Lunar Business: For very small businesses, startups, or freelancers who prefer a purely digital banking experience, Lunar also offers business accounts. While not suitable for complex corporate structures or large-scale financing needs, it can be a quick and cost-effective solution for basic business banking.
Are You Also Looking For Loans in Denmark?
Navigating the world of loans in Denmark can also be challenging, especially when you’re unfamiliar with local terminology, regulations, and eligibility criteria. For foreigners in Denmark, understanding the different types of loans available, the application process, and what lenders look for is crucial. But making a thorough research can be time-consuming as well. This is why I have made the guide on best bank loans in Denmark for foreigners, which can enlighten you on the topic without being too time-consuming.
FAQ About Best Bank in Denmark for Foreigners
Can a Foreigner Open a Bank Account in Denmark?
Yes, foreigners can open a bank account in Denmark, but most banks require you to have a CPR number (Danish personal ID), proof of address, and valid identification. Some banks are more flexible than others when it comes to international newcomers.
What Documents do I Need to Open a Bank Account in Denmark?
Typically, you’ll need the following:
- Valid passport or national ID
- CPR number
- Danish address
- Proof of employment or study (depending on the bank)
- MitID (digital ID), or the ability to register for one
Which Danish Banks Are Best for Foreigners?
Some banks are known for being more expat-friendly, offering English-speaking customer service, English-language online banking, and lower barriers for account setup. Danske Bank, Lunar, and Nordea are often mentioned as good options, depending on your needs.
Can I Open a Danish Bank Account Without a CPR Number?
In most cases, no. The CPR number is essential for identity verification and accessing digital services like MitID and NemKonto. However, some digital banks or EU-wide fintech platforms may offer temporary alternatives until you get your CPR.
How Long Does it Take to Open a Bank Account in Denmark?
Once you have your documentation in order, it usually takes a few days to one week. However, during peak seasons or if your paperwork is incomplete, it can take longer.
Do Danish Banks Offer English-language Support?
Most large banks in Denmark offer some level of English support, especially in urban areas. However, mobile apps and online platforms may not always be fully translated, so it’s worth checking in advance.
Can I Open a Bank Account Online As a Foreigner in Denmark?
Some banks allow online account setup, but you’ll still need to verify your identity in person or via a secure digital ID like MitID. Digital banks like Lunar are typically more streamlined for online onboarding.
Do I Need a Danish Phone Number to Open a Bank Account?
Many banks require a Danish phone number for account setup and security purposes, especially when linking services like MobilePay. It’s advisable to get a local SIM card early on.
What Is a NemKonto, and Do I Need One?
A NemKonto is a mandatory bank account registered with the Danish authorities to receive public payments (e.g., tax refunds, benefits). Your regular account is usually designated as your NemKonto automatically.
Are There Fees for Having a Bank Account in Denmark?
Yes, most banks charge monthly fees for account maintenance and card usage. Fee structures vary depending on the bank and account type. It’s important to review pricing before choosing your bank.
