How do you open a bank account in Norway?
12 May 2011
What do I need and what is the process for opening a bank account in Norway? Any branch recommendations? Is it better to stick with an international bank or to go with a Norwegian bank?
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Do you have an ID number? You'll need this to open a bank account as well as do a number of other things. If you don't have, go register at the National Population Register.
Norwegian banks are great and if you're planning on staying in the country for more than six months you should definitely open an account at one of the local branches. Nordea and DNB NOR both have web sites in English, which is helpful.
To open an account simply go into the bank with your passport and a passport photo and take a queue number. Banking hours are generally between 8 and 3.30pm, the earlier you go the better. It can pretty much be sorted out in a day and then once you have your card and your online banking set up there's usually very little reason to go inside a branch at all.
what if i'm not coming to norway but want a savings account in Norway? Can i do that?
What is the average annual percentage yield for a savings account in Norway?
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That's quite a broad question. The APY will depend on how much money you have in your acount and what kind of account you have. You'll need to visit a few Norwegian banks to find out what they have on offer and compare their products. I think it's usually less than 0.5 percent for a savings account.
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