Bank and insurance

As a resident in Denmark, you have to have a ‘NemKonto’ in order to receive payments from public authorities. They cannot make payments to any other accounts. A NemKonto is an ordinary bank account, and you choose which one of your bank accounts – Danish or foreign – you want as your NemKonto. You need to be registered in Denmark and have a CPR number to get a NemKonto.

In addition to payments from public authorities, many Danish employers will pay your wages into your ‘NemKonto’.

Information about how to get a NemKonto can be found at NemKonto – your public bank account.

 

To set up a Danish bank account, you need to contact the individual banks or consult their websites in order to find out what to do as procedures and requirements may differ from bank to bank. Just like in other countries, it is advisable to research different banks to find out which one is best for you.

It may also be useful to talk to and seek advice from your colleagues both internationals and Danes when choosing a bank.

 

In Denmark, some insurance is compulsory. If you own a motorised vehicle, a dog or a horse, you must have third party liability insurance to cover any damages your vehicle, dog or horse might cause. If you own a house with a loan secured against the house, you must have your building insured against fire.

Even though they are not compulsory, there are however also other important insurances that are advisable to take out to secure yourself, your family, your belongings and property. These are:

• Content insurance
• Personal accident insurance
• Personal liability insurance
• Building insurance (if you are a homeowner)
• Life and pension insurance
• Health or medical insurance

Terms, price and coverage differ between insurance companies, so it is advisable to contact a number of companies and compare their offers based on your needs before deciding on one. Some trade unions and employers offer discounts at specific insurance companies, so it is advisable to investigate if you have access to such discounts.

See Insurance for everyday needs.pdf for more information about insurance.

If you are a member of an unemployment insurance fund, you can also get an unemployment insurance.