Norway (NO)
Norway is a constitutional monarchy and parliamentary democracy in Northern Europe — one of the three Scandinavian nations, occupying the western and northern portions of the Scandinavian Peninsula.
Banking in Norway
Recommended banks, payment culture and credit score basics.
The Norwegian banking system is highly digitalised and one of the world's most cashless. BankID — Norway's national digital identity linked to your bank account — is the single most important digital tool in Norway. Without BankID you cannot access online banking, sign contracts digitally, file taxes, use government portals, or access most Norwegian digital services. Opening a bank account requires either a fødselsnummer or D-nummer. The main banks are DNB (the largest), SpareBank 1 (cooperative, strong regional presence), Nordea, Handelsbanken, and Sbanken (online-only, DNB subsidiary). Vipps — used by 4.7 million Norwegians — is the dominant mobile payment platform.
Recommended banks
DNB
EnglishMonthly fee: NOK 0–59/month depending on package (2026)
Requirements: Fødselsnummer or D-nummer required. Norwegian address. Can apply online or in branch. Photo ID.
- + Norway's largest bank — very well established and widely accepted
- + English-language app and internet banking
- + BankID issued with account
- + DNB App is excellent for managing finances
- + Wide branch and ATM network
- + Strong business banking for self-employed
- + Vipps integration
- + Travel insurance included with some card packages
- - Fødselsnummer or D-nummer required before account can be opened — allow 4–8 weeks to obtain a D-nummer
- - Some account types and services require an in-branch visit — not all products are fully digital
- - Monthly fees of NOK 0–59/month apply on standard account packages — check current schedule
- - International SWIFT fees outside SEPA/EEA: NOK 100–250 per outbound transfer — Wise is significantly cheaper
SpareBank 1
EnglishMonthly fee: NOK 0–49/month
Requirements: Fødselsnummer or D-nummer. Norwegian address. Regional banks — availability depends on location.
- + Cooperative banking — customer-owned, strong community ethos
- + Very strong in Bergen, Stavanger, Trondheim (regional presence)
- + Competitive mortgage rates
- + English digital banking via SpareBank 1 app
- + Fremtind insurance (SpareBank 1 affiliated) for bundled insurance
- + BankID with account
- - Regional structure can be confusing — SR-Bank, SMN, Nord, and Øst are all separate SpareBank 1 entities
- - English availability varies significantly by regional bank and specific branch
- - International SWIFT fees outside SEPA/EEA: NOK 100–250 per outbound wire — Wise is cheaper for regular remittances
- - Fødselsnummer or D-nummer required before account can be opened
Sbanken (DNB brand — fully merged May 2023)
EnglishMonthly fee: NOK 0 (no monthly fee)
Requirements: Fødselsnummer required (not D-nummer). Norwegian address. Apply fully online. Note: Sbanken ASA was dissolved in May 2023 — it now operates as a DNB concept/brand; the legal entity is DNB Bank ASA.
- + Fully online — no branch visits needed
- + No monthly account fee
- + Excellent mobile app with budgeting tools
- + Free foreign currency transactions (no markup on card payments abroad)
- + Popular with tech-savvy users
- + BankID with account
- - Fødselsnummer required — D-nummer alone is not sufficient; must wait for full Norwegian personal number
- - Online-only — no physical branches; all in-person issues must be resolved via phone or chat
- - Fully integrated into DNB (not a subsidiary — Sbanken ASA was dissolved May 2023); operates as a DNB brand/concept
- - No-fee foreign transactions is the main draw — limited product range beyond everyday banking
Nordea
EnglishMonthly fee: NOK 0–45/month
Requirements: Fødselsnummer or D-nummer. Norwegian address. Can apply online or in branch.
- + Pan-Nordic presence — useful if moving between Scandinavian countries
- + Excellent English digital banking
- + Good international transfer tools
- + Strong mortgage products
- + BankID issued
- - Monthly fees of NOK 0–45/month apply on most account packages
- - Smaller Norwegian branch network than DNB — fewer locations outside Oslo and major cities
- - International SWIFT fees outside SEPA/EEA: NOK 100–250 per outbound wire — Wise is cheaper
- - Fødselsnummer or D-nummer required before account can be opened
Revolut
EnglishMonthly fee: NOK 0 (standard) to NOK 129/month (premium)
Requirements: No fødselsnummer/D-nummer required. Instantly available worldwide.
- + Available immediately before D-nummer/fødselsnummer is obtained
- + Excellent for international transfers and foreign currency
- + Free NOK and multi-currency accounts
- + Travel-friendly
- - Cannot get Norwegian BankID via Revolut
- - No Norwegian IBAN in some cases
- - Cannot receive Norwegian salary in all cases
- - Not a full Norwegian bank account
Handelsbanken
EnglishMonthly fee: Varies by package
Requirements: Fødselsnummer required. Relationship-based banking — appointment recommended.
- + Swedish-origin bank with strong Scandinavian presence
- + Relationship banking model — personal banker assigned
- + Good for higher-net-worth individuals and business owners
- + Strong English support
- - Less consumer-focused than DNB or SpareBank 1 — designed for business owners and higher-net-worth individuals
- - Fewer digital features than neobanks — app less feature-rich than DNB or Sbanken
- - Fewer branches across Norway — concentrated in Oslo and major business centres
- - Fødselsnummer required and appointment recommended — not accessible for new arrivals without Norwegian credentials
Payment culture
Vipps is the dominant mobile payment platform in Norway — used by over 4.7 million people (nearly 90% of the population) for splitting bills, peer-to-peer transfers, paying at local vendors, and many other purposes. Download Vipps immediately after opening a Norwegian bank account. Visa and Mastercard contactless are accepted virtually everywhere. Cash is very rarely needed — many shops and restaurants are entirely cashless. IBAN format: NO followed by 13 digits. BankAxept (Norway's domestic debit card network) is integrated with most Norwegian bank debit cards. International wire transfers within SEPA are efficient. Norway uses a distinct 11-digit account number system (kontonummer) — ensure your employer and any payers have the correct number.
Cash access
ATMs (minibank) are available at banks, shopping centres, and some petrol stations. Cash usage is extremely low in Norway — many shops and restaurants do not accept cash at all. Withdrawal limits typically NOK 2,000–5,000 per transaction. Foreign cards: NOK 30–50 withdrawal fee typical. Carrying NOK 200–500 in cash is sufficient for virtually all situations in Norway.
Kredittsjekk / Gjeldsregister (Debt Register)
Check your Norwegian credit report for free at mingjeld.com or via Experian Norway. The Gjeldsregisteret (gjeldsregisteret.no) shows all your unsecured consumer debt.
Free annual check: Free checks available at mingjeld.com and via Experian Norway annually.
Norway's credit system combines Gjeldsregisteret (consumer debt register), Bisnode (credit bureau), and Experian. New arrivals have no Norwegian credit history — this is not the same as a bad credit score, but some landlords and utility providers may ask for larger deposits. Build credit history by paying all bills on time. Having a fødselsnummer and an established bank account is the foundation.
International transfers
SEPA transfers within the EEA are low-cost and efficient. For non-SEPA transfers (USA, Australia, etc.), use Wise or Revolut for best rates — traditional banks charge NOK 100–300+ per international transfer. Vipps now supports some cross-border payments with other Nordic Vipps/MobilePay countries. DNB and Nordea offer business international transfer services with competitive rates for larger volumes.