Opening a bank account in Denmark is easy for residents. But, if you are a non-resident it’s a very different story.
In short, if you are in search of an account in one of the Single Euro Payment Areas (SEPA countries), you may be better off looking elsewhere.
However, if you have a clear reason for wanting an account in Denmark (even as a non-resident), you may still be able to open.
In this article, we’ll help you navigate these challenges and answer some of the most common questions.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Why Bank in Denmark?
- Can a Foreigner Open a Bank Account in Denmark?
- How to Open a Bank Account in Denmark for Foreigners?
- Do You Want Help Opening Bank Accounts?
Why Bank in Denmark?
Banking in Denmark is not for everyone. The type of banking clients who should only be considering opening a bank account in Denmark are individuals who have clear ties to the country.
In other words, non-residents without any connection to Denmark have almost no chance of opening here. So, if that’s you, please review the many other options that you can choose from in our free articles.
Danish banking experienced a reputational boost after the 2008 global financial crisis because they were relatively unaffected – compared to banks in other countries.
Now, if you do have ties to Denmark, you might be able to open an account here. To help you with this, we’ll start by looking at the type of accounts foreigners can open in Denmark.
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What Type of Account Can Foreigners Open?
Yes, foreigners can open bank accounts in Denmark. However, non-residents will face extreme difficulties. That’s because banks in Denmark almost always require a CPR number (the national identification number), a NemID (the digital ID to use public services), or both.
In fact, Denmark is one of the most difficult countries in Europe for foreign non-residents to access. If you’re looking for remote account opening in Europe, specifically an online bank account with a virtual debit card, you may want to consider opening accounts elsewhere.
Why is it so difficult to open a non-resident bank in Denmark?
Well, it all boils down to a single event, which just happens to involve Denmark’s biggest bank (Danske Bank) and the largest money laundering scandal in European history.
We’ve discussed this in other articles before so we won’t dive too deep. But the point is, banking as a non-resident in Denmark is difficult because the banking sector faces scrutiny from past indiscretions.
So, if you’re looking for easy account opening, you’ll want to look elsewhere.
Can a Foreigner Open a Bank Account in Denmark?
Yes, Danish banks allow foreigners to open accounts. You will need to present a CPR number, resident permit, or a European resident permit. With these documents, you can start the process of opening accounts.
Additionally, in most cases you will also be required to provide proof of a Danish address. This might include a lease agreement, utility bill, or similar supporting document.
Who Can Open a Bank Account in Denmark?
Here is a list of who can open a bank account in Denmark:
- Danish citizens
- Foreign nationals with a valid residence permit in Denmark
- Foreign nationals who have been granted asylum in Denmark
- Foreign nationals who have a temporary residence permit in Denmark
- EU/EEA citizens who are employed or self-employed in Denmark
- Students enrolled at a Danish educational institution
What Type of Bank Can Foreigners Access?
As mentioned, Danish banks do serve foreigners. However, not everyone can access Danish banks. Like elsewhere, your country of residence and citizenship determine which banks you can access (and which documents you can realistically obtain) in Denmark.
That said, Danish banks are more straightforward to access for EU, EEA, or Swiss nationals. However, even in these cases, most Danish banks still require an in person visit and a CPR number.
Opening a bank account may be more difficult for foreigners from other countries. So before you start applying, look closely at the specific requirements of each bank to determine if you should consider banking elsewhere instead.
How to Open a Bank Account in Denmark for Foreigners
Most account opening requires a visit to the branch. That said, foreigners with a CPR number and NemID can also apply for an account online.
How Long Does it Take to Get a Danish Bank Account?
It usually takes around two weeks to get a Danish bank account. The bank will use this time to verify your identity, address, perform necessary due diligence, and conduct AML/CFT checks.
Do You Want Help Opening Bank Accounts?
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