Opening a bank account in Norway can take three weeks. Many expats face this delay. They need local accounts for salaries and bills. Norway's banking system works differently. It focuses on digital services and national identity numbers. This creates hurdles for newcomers.
Choosing the Right Bank
Expats should consider three factors. English support matters for daily banking. International transfers need reasonable fees. Digital platforms must work without Norwegian ID. Most banks require a D-number first. This temporary ID comes from the tax office. Some banks accept passports for initial accounts.
Major Banks Compared
DNB
Norway's largest bank offers expat services. DNB's Start Package costs 250 kroner monthly. It includes a debit card and basic account. English online banking works well. The mobile app supports biometric login. International transfers cost 75 kroner plus 0.25% of amount. DNB requires a D-number first. Visit any branch with passport and employment contract.
Nordea
Nordea targets international customers. Its Expat Account has no monthly fee for six months. After that, pay 300 kroner monthly. The package includes multi-currency options. Transfers within Europe cost 50 kroner. Outside Europe costs 100 kroner. Nordea's English telephone support operates 8am-8pm weekdays. Download the Nordea Mobile app for account opening.
Handelsbanken
This Swedish bank serves expats differently. Handelsbanken assigns personal bankers. Meetings happen in English at local branches. Account fees start at 400 kroner monthly. International transfers cost 0.1% with 150 kroner minimum. The bank requires proof of Norwegian address. Bring rental contract and passport. Handelsbanken works best for high-net-worth individuals.
Digital-Only Options
Mobile banks fill gaps for new arrivals. Lunar offers accounts without D-numbers initially. Use your passport and European address. Lunar's free plan includes Norwegian account numbers. International transfers cost 1% via Wise integration. Download Lunar from App Store or Google Play. Complete verification in 15 minutes.
Revolut works for temporary solutions. Get a Norwegian kroner account instantly. Use it for daily spending with no fees. Revolut lacks Norwegian account numbers for salary deposits. Combine it with a traditional bank later. Revolut Premium costs 99 kroner monthly. It includes travel insurance and airport lounge access.
Practical Steps for Expats
First, apply for a D-number at Skatteetaten. This takes two to three weeks. Bring passport, employment contract, and Norwegian address. Second, choose a bank based on needs. Digital nomads prefer Lunar or Revolut. Families often select Nordea for English support. Business owners might use Handelsbanken.
Third, gather required documents. All banks need passport and D-number. Some require Norwegian rental contract. Employment confirmation helps with credit applications. Fourth, use online comparison tools. Finansportalen.no lists all bank fees. Check current exchange rates at Norges Bank.
Cost Considerations
Monthly fees range from zero to 400 kroner. Card payments cost nothing in Norway. Cash withdrawals cost 20 kroner at other banks' ATMs. International transfers add 50-150 kroner per transaction. Currency conversion fees reach 2.5% at traditional banks. Mobile banks charge 1% or less.
Consider hidden costs. Paper statements cost 50 kroner monthly. Replacement cards cost 200 kroner. Overdraft fees hit 15% annual interest. Set up automatic payments for bills. This avoids 150 kroner late fees.
Frequently Asked Questions
How long does account opening take?
With a D-number, account opening takes two business days. Without a D-number, expect three weeks. Lunar offers instant accounts using passports. Traditional banks require in-person visits.
Which bank has the best English support?
Nordea provides dedicated English telephone lines. DNB offers English online banking. Handelsbanken assigns English-speaking bankers. All major banks have English website sections.
What are typical monthly fees?
Basic accounts cost 250-400 kroner monthly. Digital banks offer free basic accounts. Premium packages cost 500-800 kroner. These include insurance and investment options.
Can I open an account before arriving?
No, Norwegian law requires physical presence. Some banks start the process online. You still need to visit a branch later. Bring your passport and immigration documents.
How do I transfer money internationally?
Use your bank's transfer service for large amounts. Fees range from 50 to 150 kroner. For regular small transfers, try Wise or Revolut. These cost 0.5-1% per transaction.
What documents do I need?
All banks require a valid passport. Most need a D-number or Norwegian ID. Some accept EU passports without D-numbers initially. Bring proof of Norwegian address and employment.
Are there banks without monthly fees?
Yes, digital banks like Lunar offer free accounts. Traditional banks waive fees for students or youth. Some employers negotiate fee-free accounts for staff. Check with your company's HR department.