A list of banks in Norway

Thinking of moving to Norway? You might be heading there to study, start a business or simply visit friends and family on an extended stay. Whichever’s the case, it could be useful to open a Norwegian bank account.

But which bank should you choose? To help you get set up during your move, we’ve put together a list of banks in Norway. This includes some of the biggest and most popular offering services to personal customers, including some info on the accounts available.

We’ll also give you a tip for a cost-saving alternative to a traditional bank. Open a Wise multi-currency account online and you can manage your money in 50 currencies, including Norwegian Krone (NOK).

But first, let’s take a brief look at how banking works in Norway.

Banking in Norway (an overview)

The banking system in Norway is made up of commercial, savings and foreign-owned banks. There are around 100 banks altogether,¹ all forming part of a famously strong and stable banking system.

Banks tend to open between 8.30am and 3.30pm, Monday to Friday.¹ Although of course, the opening hours can vary depending on the bank and branch location.

To open a bank account in Norway, you’ll need to have your ID and other documents ready. Norwegian residents will need to provide their Norwegian National Identity Number, or a D-Number (issued to people staying in Norway temporarily).¹

Accounts with Norwegian banks do tend to come with some fees. Notably, an annual debit card fee of around 275-300 NOK.¹

It’s usually free to use your bank’s ATM, but not if you use another operator’s ATM - or if you use your card abroad. Most major banks offer online banking, along with mobile banking.

And like banks in other countries, Norwegian banks tend to charge high fees for international transfers outside of Europe.

To avoid these expensive fees, consider using an alternative such as the Wise multi-currency account. It’s ideal for international transactions, and could save you a bundle.

Now, let’s take a look at some of your options when it comes to choosing a bank in Norway.

Bank name²	Operational HQ
Bank Norwegian	Fornebu
DNB Bank	Oslo
Nordea Bank	Oslo
Handelsbanken Norway	Oslo
SpareBank 1 SR-Bank	Stavanger
Sparebank 1 Østlandet	Hamar
Storebrand Bank	Oslo
BN Bank	Trondheim
Sbanken	Bergen
Santander	Lysaker

Bank Norwegian

Part of the Swedish-owned Nordax Bank, Bank Norwegian serves over 1.7 million customers across six countries.³ It doesn’t offer a current account, but does have a free instant access Savings Account (Sparekonto).

Bank Norwegian also offers credit cards, consumer loans (including specialist car and property renovation loans) and insurance products.

DNB Bank

Part of the largest financial services group in the country, DNB Bank offers a full range of services for personal, business, corporate and private customers.

This includes its standard Current Account (Brukskonto) and a selection of savings account, most of which can be managed via mobile banking. DNB also offers loans, insurance, cards and pension products, as well as property services through its partner DNB Eiendom.

Nordea Bank

First launched in Denmark, Nordea Bank is now one of the largest banks in Northern Europe. It offers a full range of services and products for personal customers, including current and savings accounts.

There’s its standard Current Account (Brukskonto), which lets you manage your money via online or mobile banking. Nordea also has a choice of deposit accounts and savings products, including its Buffer Saver and Savings Account Extra.

Whether you’re looking for a loan or credit card, travel money or pension products, Nordea has it covered.

Handelsbanken Norway

Another of Norway’s biggest banks, Handelsbanken has a decent network of branches and ATMs spread throughout the country. It offers payroll, shared and buffer savings accounts, along with cards and payments services. You can find out more here.

Handelsbanken Norway also provides loans, savings and pension products, and offers both online and mobile banking.

SpareBank 1 SR-Bank

One of the largest regional banks in Norway, SpareBank 1 SR-Bank serves both personal and corporate customers. It has a choice of cards, loans, insurance products and savings accounts available, including Account Savings and Fixed Savings. You can see the full range of savings products on offer here.

Sparebank 1 Østlandet

Sparebank 1 Østlandet is one of the largest savings banks in the country, offering products for businesses and individuals. This includes a Current Account and dedicated Student Account, both of which can be managed via online or mobile banking.

The bank also offers insurance, loans and pension products, along with a number of savings accounts to suit all circumstances.

Storebrand Bank

This Oslo-based financial group provides banking products, savings, pensions and insurance to both personal and business customers.

It offers a number of useful daily banking products, including its Sparekonto savings account and Deposit Account.

There are also specialist products for different age groups available at Storebrand Bank. For example, the Smartkonto savings account for over 55s, and the account and card for children and young people.

BN Bank

Based in Trondheim but covering all of Norway, BN Bank provides banking services for personal and business customers.

Its Kontocurrent account is ideal for daily use and depositing your salary, but there are also a choice of savings accounts available. This includes its Savings Account Plus, High Interest Account and Fixed Interest Deposits account.

BN Bank also offers dedicated products for children and young people, along with loans and property purchase services.

Sbanken

Founded as a branch of the Swedish-owned Skandiabanken, Sbanken has become one of the most popular online banks in Norway. Aimed at both personal and business customers, it offers a selection of current and savings accounts, cards and loans. Sbanken also has its own mobile banking app.

To get started at Sbanken, you can open a Current Account online. Or if you’re looking to save, there’s the Sbanken Savings Account.

Santander

Lastly, we come to one of the biggest international banks in Norway. Santander Consumer Bank AS doesn’t offer a current account, but it does have savings accounts such as its High Interest Accountand High Interest Account Plus.

You can also go to Santander for loans, credit cards, insurance and shopping accounts - helping to spread the cost of large purchases or construction work.

Top online bank accounts in Norway

Along with traditional banks, Norway also has a number of digital banks to choose from. This includes:

• Vipps. Although more of a payment service than a bank, Vipps is one of the most popular mobile payment apps in Norway. It’s commonly used to pay for goods and services, and to send money to friends and family.
• Revolut. The app-based Revolut offers a choice of monthly plans, including a free Standard plan. All include a debit card and basic banking services, with more perks and features added the more you pay for your monthly plan.
• N26. Similar to Revolut, N26 offers an app-based current account and a choice of monthly plans. This includes a free Standard plan which comes with a virtual card. You’ll need to upgrade to a paid plan to get a physical debit card.⁴

Manage your money internationally? Check out the Wise multi-currency account

If you want to send money overseas or use your card when you travel, you could find it expensive with a Norwegian bank account.

Luckily, there’s a money-saving alternative available. Open a Wise multi-currency account and you can send money worldwide for low fees and fair exchange rates.

You can even get an international debit card for spending in 175 countries, including Norway. It automatically converts your money to NOK at the mid-market exchange rate, whenever you spend.

This makes it ideal for travellers, expats, overseas students and anyone else living an international life.

Join Wise today

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

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Sources used:

1. Internations - Opening a Bank Account & Managing Your Taxes in Norway
2. PDF.co - 15 Biggest Banks of Norway
3. Bank Norwegian - About Us
4. N26 EU - Plans

Sources last checked on date: 11-Apr-2023