A list of the top banks in Denmark

Moving to Denmark? One of the first things you’ll need is a local bank account. It isn’t absolutely essential, but it could make it easier to pay bills and get paid if you’re working.

Before opening a bank account in Denmark, you’ll need an idea of what options are out there. Read on for a full list of the top banks in Denmark, from Danske Bank all the way through to Ringkjøbing Landbobank.

But first, a quick look at what banking is like in the Scandinavian country.

Banking in Denmark (an overview)

Denmark’s banking sector is concentrated, with large assets and a number of both domestic and smaller banks. However, there are still some international banks with a presence in the country. A handful of larger banks dominate the market, such as Danske Bank and Nykredit.

To open a bank account in Denmark, you’ll usually need the following:¹

• A valid photo ID, such as your passport

• Proof of your Danish address

• A Danish CPR number

• MitID (digital ID number).

Banking in Denmark doesn’t come without fees. Some accounts have a monthly maintenance fee, although you should be able to use your bank’s ATMs for free. Withdraw cash at another bank’s ATM though and there’s likely to be a charge.

If you need to manage your money internationally and want to save money, check out Wise instead.

Learn more about Wise 🚀

Top 10 banks in Denmark

Now, let’s run through some the biggest and most popular banks in Denmark, so that you can compare options:²

Bank name	Operational HQ
Danske Bank	Copenhagen
Nykredit	Copenhagen
Nordea Denmark	Copenhagen
Jyske Bank	Silkeborg
DLR Kredit	Copenhagen
Sydbank	Aabenraa
Spar Nord Bank	Aalborg
Arbejdernes Landsbanks	Copenhagen
Saxo Bank	Copenhagen
Ringkjøbing Landbobank	Ringkøbing

Danske Bank

The largest bank in the country is Danske Bank, a universal bank serving Norway, Sweden and Finland as well as Denmark.

It offers a wide range of products and services, for personal, business and private banking clients. This includes the Danske Konto personal current account, which comes with a card and optional overdraft.³

For businesses, the bank offers tailored solutions based on the company’s size and situation. It also offers international banking, along with services for large corporations and institutions.

Nykredit

Nykredit is a specialist mortgage bank, serving both private and corporate customers. However, it also offers services for everyday money management, including current and savings accounts. A popular choice is the Nykredit Konto, which offers online banking and a debit card.

For businesses, Nykredit offers a choice of subscriptions, which bundle together accounts and other useful services for a monthly fee.

Nordea Denmark

Nordea Denmark is part of Nordea, the leading Finland-based financial services group. It provides retail, business and private banking, including a wide range of current and salary accounts, cards and loans.

An option for simple everyday banking at Nordea Denmark is its Basic Account. This offers interest on your money, along with the option to link cards and overdrafts to the account.⁴

Businesses can choose from accounts, loans, overdrafts and even useful digital money management tools.

Jyske Bank

Founded in the 1960s following a merger between four Central Jutland local banks, Jyske Bank has become one of the largest banks in Denmark. It offers a broad selection of products and services, aimed at retail, corporate and private customers.

If you just need a simple account for everyday use, the Jyske Bank Basic Account could be worth a look. For a monthly fee, you’ll get a debit card, payments and both online and mobile banking.⁵

For businesses, the bank has tailored solutions for local businesses, national companies and international companies. It also offers private banking.

DLR Kredit

DLR Kredit is one of the largest banks in the country in terms of assets, but it isn’t a retail bank - nor does it offer accounts. It is a specialised Danish mortgage bank focusing on mortgage lending, specifically to agricultural and urban trade properties in the domestic market.

Sydbank

Sydbank is another bank borne out of a merger of Southern Jutland local banks. It started operating under its current name in 1970, and today offers only private banking, loans, savings and pensions. If you meet the eligibility requirements, you can open a Sydbank Privat current account.

The bank also provides solutions and services for businesses, as well as investment banking and wealth management.

Spar Nord Bank

Founded in Aalborg in 1824, Spar Nord Bank still has its headquarters in the charming Danish town. It’s a local bank for personal customers and SMEs, with a selection of products to choose from.

This includes a Salary Account, which you can use to get paid if you’re working and for withdrawing and depositing money. It can be linked to a debit card and managed via online and mobile banking.⁶

In addition, Spar Nord Bank offers custom services, accounts and advice for self-employed people and small businesses. If you meet minimum savings or income requirements, you can also take advantage of its private banking service.

Arbejdernes Landsbanks

The Arbejdernes Landsbanks (National Workers Bank) was launched back in 1919, and remains a cooperative to this day. It offers retail, business and private banking.

The bank has a choice of current accounts available, including its Superløn Salary Account. This comes with a debit card, optional credit card, online/mobile banking and optional overdraft (if eligible).⁷

Businesses can choose from current and client accounts, financing solutions, payment and investment services, among many others.

Saxo Bank

Saxo Bank is a private Danish bank, known for its online trading platform and investment services. It doesn’t have any current accounts, but you can open a Saxo Stocks and Shares ISA if this is something you’re interested in.

Ringkjøbing Landbobank

One of the oldest banks in the country, with a history dating back to 1886, Ringkjøbing Landbobank is a universal bank. It serves personal and private customers, as well as offering investment banking services.

There are a large selection of savings accounts, pensions, insurance and other products available for individuals at Ringkjøbing Landbobank. It doesn’t seem to have a current account, but the Fakkel Opsparing savings account lets you deposit and withdraw freely.

The bank also offers financial products for businesses, including loans, credit, payment services and insurance. There are even dedicated solutions for healthcare and agriculture organisations.

Best online bank accounts and money management alternatives in Denmark

Denmark also has a number of digital bank accounts and money apps available, alongside high-street banks.

Some of the most popular are:

• Revolut - an all-in-one finance app with a debit card and banking services.

• Bunq - a mobile-first bank licensed in the Netherlands offering personal and business accounts to customers across the EEA.

• Lunar - a digital bank licensed in Denmark to offer app-managed accounts, cards and other money services.

Wise – Money for here, there and everywhere

If you want to send money internationally, or use your debit card when you travel, you could find it expensive with a Danish bank.

If you want to send money internationally, or use your debit card when you travel, you’re probably looking for the most cost-effective way.

The good news is that there’s a money-saving alternative available from the money services provider Wise. Open a Wise account online, and you can send money worldwide in 40+ currencies for low fees and fair exchange rates. It’s not a bank account but offers many similar features.

You can even get an international debit card for spending in over 150+ countries, including Denmark. It automatically converts your money to the local currency at the mid-market exchange rate, adding only a low, transparent conversion fee, whenever you spend.

This makes it ideal for travellers, expats, overseas students and anyone else living an international life.

Sign up with Wise today 💰

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And that’s your handy list of top banks in Denmark, complete with info on their most popular current accounts. This should help you get started on finding and applying for your new Danish bank account.

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Sources used for this article:

1. Lunar - How to open a bank account in Denmark

2. ADV Ratings - Top banks in Denmark

3. Danske Bank - Danske Konto

4. Jyske Bank - Basic Account

5. Nordea Denmark - Basic Account

6. Spar Nord - Accounts

7. Arbejdernes Landsbanks - Salary account

Sources last checked on 01-Apr-2024.