Best Bank in Denmark: How to Choose as an Expat

Why you need a Danish bank account

To participate in Danish society — receive your salary, pay taxes, and be granted a loan — you need a Danish bank account. It also gives you access to online banking, savings, investments, and Danish debit and credit cards.

Denmark is largely cashless. Besides card payments, Danes pay with MobilePay, the country's most popular mobile payment app. To use it, you connect one of your Danish accounts to your Danish phone number.

One more thing to know: you must register one of your accounts as your NemKonto ("easy account"). This is the account Danish authorities use for payments like tax refunds and public benefits. Even if you only have one Danish account, you have to register it as your NemKonto yourself.

What you need to open a Danish bank account

Opening an account at a large Danish bank is fairly straightforward. You need:

To be 18 or older.
Valid photo ID. Danish banks usually accept passports and national ID cards.
A CPR number. You receive your Danish personal identification number along with your residence permit.
Proof of a Danish address. You must have a permanent address in Denmark.
Proof of employment or studies. Most banks ask for verification of your occupation.

At most larger banks, you can open the account online or at a local branch.

+45 72 600 400

How to choose a bank that fits your needs

As an expat in Denmark, one of the larger banks is often the most convenient choice: they offer the full range of services, customer support in English, and local branches. Remember to ask for English as your preferred language when you sign up — otherwise your documents will arrive in Danish.

Terms and fees vary between banks, so it pays to compare. Look especially at:

Monthly service fees and what they cover.
International transfers — fees and exchange rates matter if you send money abroad regularly.
Loan terms — if you plan to buy a home, this is where banks differ the most, and where negotiation makes a real difference.

Planning to buy a home in Denmark?

The bank you choose will shape your loan terms for years. Bomae collects offers from several banks and negotiates price and terms on your side — not the bank's.

The first meeting is free.

The largest banks in Denmark

1. Danske Bank

Danske Bank is Denmark's largest bank, offering a wide range of financial products and services, including personal and corporate banking, wealth management, and insurance. It has branches across the country, though the number is steadily decreasing as banking moves online.

2. Nordea

Nordea is a Nordic financial services group operating across the Nordic and Baltic regions, headquartered in Helsinki. It offers banking, wealth management, and insurance for both private and corporate customers. Nordea is a good choice if you do business elsewhere in the Nordics, as it has branches across the region.

3. Jyske Bank

Jyske Bank is one of Denmark's largest banks — a full-service bank offering personal and corporate banking, mortgages, and insurance. Named after its Jutland origin, it is known for its focus on private banking and wealth management.

All three banks are popular choices for both personal and business banking in Denmark. Beyond the big three, other notable Danish banks include Nykredit, Sydbank, and Arbejdernes Landsbank.

Mortgage credit institutions

Denmark's mortgage credit system gives homebuyers access to some of the most attractive home financing in Europe. Mortgage credit institutions — typically owned by the banks — grant and administer mortgage loans:

Realkredit Danmark — part of the Danske Bank Group.
Nykredit Realkredit — part of Nykredit, one of Denmark's leading financial companies.
Totalkredit — part of the Nykredit Group; partners with a network of local and regional banks.
Jyske Realkredit (formerly BRFkredit) — part of the Jyske Bank Group.
Nordea Kredit — Nordea's mortgage credit arm.
DLR Kredit — offers loans mainly secured by mortgages on agricultural and commercial properties.

Which institution you end up with usually follows from which bank you choose — another reason to compare banks before you commit. Read more about how Danish home loans work.

Let Bomae help you choose

Comparing Danish banks is easier said than done — several of them don't even have English websites. And if you're buying a home, the stakes are higher: the difference between banks shows up in your loan terms every month for years.

Bomae is on your side of the table. We collect offers from multiple banks, negotiate price and terms, and guide you through the entire home buying process — financial advice, review of the purchase agreement, and price negotiation.

Or call 70 40 03 36, Monday to Sunday 9:00-20:00