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ADVICE #184

How to choose a Bank in Denmark?

Denmark has about hundreds of private banks, including commercial, savings, mortgage and foreign. However, the overwhelming share of transactions (about 80%) are in the “big four”: Danske Bank, Nordea Bank Danmark, Jyske Bank and Nykredit.

While Danske and Nordea are large international universal banks, Jyske is the classic “third” Bank that prefers to work in regions with retail customers and small companies, and Nykredit specializes in mortgage lending (but provides other services).

Accordingly, the choice of the Bank largely depends on whether the client will work with accounts in different countries (then it is wiser to go to Nordea or Danske) or he needs to have a current account and card in a local Bank (in this case fit Jyske regional or local Bank).

Unlike other countries, the Danish banks have unusually long range of current accounts: separately for wages, for irregular income (fees, etc.), for large customers, for youth, etc. The cost of maintenance is very different depending on the type of account from scratch DKK to several tens of crowns (few Euro) in the quarter. Optionally, you can choose a particular account or be limited to standard.

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