Banking

Living in Europe | Banking | Norway

If you have a Norwegian employer or if you are staying in Norway, you will probably need a Norwegian bank account, especially if your stay exceeds six months. Access to a Norwegian bank account will enable you to receive salary payments and handle your finances.

Please contact your host institution to get advice regarding which bank could provide the best services for you.

There are a number of banks to choose from. Banks have different policies and sometimes there are even local variations within the same bank.

Please contact your host institution for possible advice as to which banks could provide the best services for you.

The banks below have information in English (this list is not exhaustive):

To open a bank account you need a Norwegian national identity number  and an address in Norway. Some banks also accept a D number. You will have to apply for a national identity number or a D number from the Norwegian Tax Administration. For more information see:

You will have to appear in person to sign the account agreement. Bring your passport, a passport photo and your Norwegian national identity number. For some countries additional documentation may be required. You may be asked if you plan to transfer money out of Norway.

Most banks attach a VISA card to your bank account debit card. You will receive the VISA/debit card and your PIN code separately by post. To apply for a credit card you may have to document employment and salary.

When leaving Norway you should return your debit card. You may be able keep the card even if the account balance is NOK 0, but you will normally have to continue to pay the annual fee. You can keep your bank account and online banking service.

  • Most banks offer online banking which allows you to transfer money and pay bills within Norway without paying service fees.
  • Giros can be used as an alternative, but you will have to pay a service fee.
  • Banks normally offer an ordinary electronic chip bank account debit card that can be used at any cashpoint (ATM) or point of sale terminal in the country. Alternatively, you will be offered an international debit card, such as VISA. Often the debit card also serves as an identity card in Norway, as it usually has your photograph, national identity number and signature printed on it.
  • Normally, it is also possible to get a credit card, e.g. MasterCard.
  • Please note that cheques are no longer accepted in Norway.
Online banking is the easiest and cheapest way to transfer money to a foreign bank account. However, you may also use money transfer companies or banks. Prices vary.
Bank deposits in the Norwegian banking system are guaranteed through a sound deposit guarantee scheme. The guarantee is valid for all banks, including foreign-owned banks. All deposits in any account are guaranteed up to a value of NOK 2 million. This is a favourable scheme for Norwegian bank clients.
Housing loans require some form of security, for instance income or a surety. Contact your bank to find out how much you can borrow and what interest rate the bank offers. Most mortgages have a floating rate that varies according to the market rate. The website Finansportalen (mainly in Norwegian) offers a useful overview of current mortgage rates.

Please note that all members and pensioners belonging to the Norwegian Public Service Pension Fund can apply for a housing loan with advantageous rates under the housing loan agreement. You may also be granted a loan to refinance a housing loan.