You should open a bank account as soon as you arrive in Norway. Especially if you plan on staying for more than six months. After receiving your salary payments, you’ll also be able to manage your finances. As a result of its excellent healthcare, education, work-life balance, and access to the great outdoors. It ranks at the top of quality-of-life rankings. As a result, it is one of the world’s most expensive countries. We’ve compiled a list of helpful hints and tips on how to open a bank account in Norway for you.
How to open a bank account in Norway?
Anyone in Norway can open a bank account and use the bank’s payment system for free. Salaried people must open a salary account or a current account. Where they will receive their salary payments from their employer. Another option is to open an investment account. It is with a variable interest rate based on the amount of money you deposit.
Norwegians refer to a bank account as a “bankkonto”. If you have a bankkonto, you’ll have an International Bank Account Number (IBAN). That allows you to transfer free money between the other accounts in the Single Euro Payment Area (SEPA). It also includes every European country, including others outside the EU.
What are the documents required to open a bank account in Norway?
Considering that every bank has different requirements for opening an account. You should double-check them all. You should have at least the following documents on hand:
- Taking a passport picture
- D-Number is the Norwegian national identification number.
- Document proving Norwegian address (any utility bill or rental contract)
- A letter of employment or proof of enrollment in school, but that could be not necessary
Am I eligible to open a bank account in Norway?
Anyone over the age of 18 who resides in Norway and has a valid passport is eligible to open a bank account there. Banks in Norway, for example, need proof of address. Norwegian nationals and those planning to stay longer will also need a Norwegian National Identity Number (NIN). or a D-Number. (D-Number for those planning to stay for less than six months). You may even get asked to provide a letter of recommendation from your current bank. To ensure that you’re not a risky client. Last but not least, you’ll need a Bank ID to open an account, which gets obtained from your bank.
Largest banks in Norway
These are some of the biggest banks in Norway.
- Opening a bank account is free of charge.
- It will take four weeks for your bank account to get opened and for you to receive your bank card/bank ID card.
- DnB offers English-language internet banking and a website.
- If you decide to go with Dnb, follow these steps: Creating a Dnb bank account (pdf)
- A bank account requires a fee of NOK 1500.
- Within a day, you can expect to have your bank account set up and receive your bank card/bank ID.
- No English-language website is available for Bien’s internet banking service.