Banking in Norway Simplified for expats
Obtaining a credit card that is not charging you international fees is one of the first things you will need to do when moving to Norway. It can become costly for the long-term to use your credit card from your home country. Also, you will need a local bank to receive your salary in most cases. There are a lot of different banks in the market in Norway. It can become difficult to find a Norwegian bank that fits your needs. We have listed all the banks in Norway with their pro’s and cons. With our tips, we will ensure that you sign-up for the bank that you want. We have only listed banks that offer clear contracts to non-Norwegian speakers.
List of banks in Norway
All the banks listed above offer clear contracts, deals, and conditions to on-Norwegian speakers. Are you wondering, however, which bank offers the best deals to English speaking clients and does not charge international withdrawal fees within Europe? We have listed them below.
Within the banking market in Norway, there are a lot of different rates, conditions, and package deals. Are you wondering which bank offers clear (English) conditions to their customers, and which of those banks offers a free credit card? We have listed below the banks in Norway which are most frequently used by expats and Norwegian citizens.
| Credit Rate | Free Credit Card | Free Account | |
|---|---|---|---|
| › N26 | ✓ | ✓ | ✓ |
| › luster-sparebank.no | ✓ | ✓ | ✓ |
| › handelsbanken.no | ✓ | ✘ | ✓ |
| › Sparebank 1 SMN | ✓ | ✓ | ✓ |
| › Storebrand Bank ASA | ✓ | ✘ | ✓ |
The best bank in Norway for expats
N26
N26 is an online bank that operates within Europe and has grown recently as one of the largest online banks. They offer excellent banking deals where they do not charge as much as ‘normal banks’ since their presence is purely online. This enables them to spare a lot of unnecessary costs. N26 offers 2 different accounts. When you sign-up for one of the accounts you will receive a Mastercard. Mastercards are widely accepted within Norway. Take a look at the website of N26 to see if this bank fits your needs.
How to open a bank account in Norway
In general, a bank asks you for the following documents when you request to open an account in Norway:
- A valid proof of identity (ID card, passport…)
- City registration
- For non-EU-Members: work permit
Great news, N26 doesn’t require all that!
Opening an account with N26 is straightforward. You install the app, start a video chat, show your ID and you are done. It will take you around 10 minutes to get ready. You don’t even have to get out of your chair.