How to open a Danish business bank account

Opening a Danish business account is rarely a question of paperwork. It is a question of whether a bank will take you at all: anti-money-laundering rules make a small, new, or foreign-owned company expensive to onboard, so most Danish banks quietly decline rather than price the risk.

This guide covers what a Danish erhvervskonto costs in practice, which providers actually accept Danish companies, and what you give up — NemKonto, MobilePay, a Danish reg. and account number — if you end up with a non-Danish account.

Updated 5 September 2026 Prices checked 5 September 2026

Opening the account, step by step

Register the company first
You cannot open a business account for a company that does not exist yet. If you have not incorporated, start with our guide to registering a Danish company.
Time required: 1–2 days
Decide whether you need a Danish account number
This is the decision that drives everything else. If you need MobilePay, or customers who will only pay to a reg. + kontonummer, you need a Danish provider. If an IBAN is fine, the market opens up considerably.
Apply to two providers, not one
Approval is not guaranteed anywhere. Applying in parallel costs nothing when opening is free, and it saves you a fortnight if the first application is declined.
Time required: Under an hour each
Complete KYC and receive your details
Expect to supply the CVR registration, ownership structure, passports for beneficial owners, and a plain description of what the company actually does. Vague answers are the most common reason an application stalls.
Time required: Minutes to several days
Register the account as your NemKonto
A Danish bank does this automatically the moment the account opens. A foreign account has to be registered with Digitaliseringsstyrelsen yourself, and it is slow — start it the day the account exists, not the day you are owed a refund.
Time required: 8–10 weeks

Danish business accounts compared

The table below is the short version. Every figure is read from the provider’s own pricing page — not from a comparison aggregator — and re-checked quarterly.

One column matters more than the fees: local account number. It is the difference between being paid the way Danish customers expect and explaining an IBAN on every invoice.

Provider	Opening fee	Monthly fee	Local account number	Best for
Revolut Business	Free	DKK 85 – DKK 1,150/month	No	Multi-currency operations
Wise Business	DKK 450one-off	Free	No	Cheapest currency conversion
Lunar Business	Free	DKK 289 – DKK 589/month	Yes	A real Danish bank account

Providers that accept Danish companies · Prices checked 5 September 2026.

The providers worth applying to

Three providers cover almost every realistic case for a Danish company. They differ less in price than in who they will accept and what account details you end up with.

Revolut Business

Multi-currency operations

Open an account

The usual first application. Onboarding is fast, and Revolut accepts a good deal of business that Danish high-street banks decline. Two things to know before you apply: the entry plan carries a monthly fee — the free tier Revolut used to offer is gone — and Danish companies are issued a Lithuanian IBAN, not a Danish reg. and account number.

Opening fee: Free
Monthly fee: DKK 85 – DKK 1,150
Local account number: No

Basic 85, Grow 280, Scale 1,150 DKK per month; Enterprise is quoted individually. Danish businesses are issued a Lithuanian (LT) IBAN, not a Danish reg. no. + account no.

Regulatory status: EEA accounts are issued by Revolut Bank UAB, a Lithuanian bank licensed by the ECB and supervised by the Bank of Lithuania. UK accounts have been issued by Revolut Ltd, an FCA-authorised e-money institution (FRN 900562); since Revolut Bank UK Ltd exited mobilisation and received full PRA/FCA bank authorisation on 11 March 2026 (Financial Services Register No. 981170), Revolut has been migrating UK accounts — including Business accounts — onto it, with eligible deposits on migrated accounts protected by the FSCS up to £120,000. Which entity holds a given UK account depends on migration status.

Wise Business

Cheapest currency conversion

Open an account

A one-off opening fee and then close to nothing unless you actually move money. The strongest option if your company invoices in several currencies, and the weakest if you want a bank-like relationship — Wise is a payments institution, not a bank.

Opening fee: DKK 450
Monthly fee: Free
Local account number: No

One-off 450 DKK for account details in 22 currencies; no monthly or holding fee. DKK is not one of the currencies Wise issues account details for, so there is no Danish reg. no. + account no.

Regulatory status: Wise Payments Limited, an FCA-authorised electronic money institution (FRN 900507); balances are safeguarded rather than covered by a deposit-guarantee scheme

Lunar Business

A real Danish bank account

The realistic route to a genuinely Danish account with a Danish reg. and account number, which is what you need for MobilePay and for customers who will not pay to an IBAN. It is not the easy option: approval is closer to a traditional bank’s than to a fintech’s.

Opening fee: Free
Monthly fee: DKK 289 – DKK 589
Local account number: Yes

Simple 289, Essential 439, Limitless 589 DKK per month (2,890 / 4,390 / 5,890 DKK if paid annually in one instalment). The set-up fee is 1,495 DKK on the Simple plan only — Essential and Limitless are free to open, which is why 0 is recorded here. Danish account with NemKonto.

Regulatory status: Lunar Bank A/S holds its own Danish banking licence and is supervised by Finanstilsynet; deposits are covered by Garantiformuen up to EUR 100,000

No partner agreement — listed for completeness

What a Danish bank actually charges

Danish high-street banks price a business account in two parts: a one-off opening fee, then a monthly or quarterly running fee, with card fees on top. The opening fee is the part that surprises people — it is not unusual for it to run into thousands of kroner, and it is charged for the onboarding work whether or not the relationship lasts.

The banks are not being arbitrary. Onboarding a company means identifying every beneficial owner, understanding the business model well enough to monitor it, and carrying the reporting obligation afterwards. That is staff time, and it is charged for. Consumer accounts are subsidised by the rest of the relationship; a new company brings no such relationship.

This is also why an existing relationship is worth so much. If you already bank personally somewhere and have, say, a mortgage there, ask about an erhvervskonto directly. A price that is never advertised is often available to an existing customer.

Is a free Danish business account possible?

Not at a Danish bank, unless you already have a relationship there to trade on. The advertised prices are the prices.

Nor is it available from the international providers any more. Revolut withdrew its free business plan, and the closest thing left is an account with no monthly fee but a one-off charge to open it — which is a good deal for a company that opens once and then mostly receives payments, and not the same thing as free.

The honest framing: where a provider does advertise a zero monthly fee, it means the account costs nothing to hold. Payments, currency conversion and cards are still charged for, and once you are actually trading that is where the cost sits.

What you give up with a non-Danish account

No Danish reg. and account number. You get an IBAN instead. Danish business customers will usually pay it without comment; consumers are more likely to hesitate.

No MobilePay. MobilePay’s business products require a Danish account. If you take small payments from consumers, this is often the argument that settles the decision on its own.

NemKonto is a manual step, and a slow one. Every Danish company needs a NemKonto — the account the public authorities pay into for VAT refunds and overpaid corporation tax. Open an account at a Danish bank and it becomes your NemKonto automatically. An account at a foreign EU/EEA institution can be nominated, but the institution cannot register it for you: you apply to Digitaliseringsstyrelsen with MitID Erhverv or a notarised paper form, wait a couple of months, and then wait again for a physical activation letter to the company’s registered address. Start it the day the account exists. A refund with nowhere to go simply sits there.

None of these is a reason to avoid a foreign account outright. They are the specific costs of one, and they are worth weighing against an opening fee of several thousand kroner.

Frequently asked questions

Can I use my personal bank account for my Danish company?

Not for an ApS, A/S or P/S — the company is a separate legal person, and its money has to sit in an account in the company’s name. For an enkeltmandsvirksomhed it is sometimes permitted by law, but most banks prohibit business use of a personal account in their own terms and will close the account if they notice. Check with your bank first.

How long does it take to open a Danish business account?

At an international provider, minutes to a couple of days, depending on how quickly you answer the KYC questions. At a Danish bank, expect weeks — and a real chance of being declined at the end of it.

Why do Danish banks decline so many companies?

Anti-money-laundering obligations make every business customer a monitoring commitment. A small or newly registered company generates little revenue against that fixed cost, so declining is often the commercially rational answer — regardless of anything about your business.

Do I need a Danish account number, or is an IBAN enough?

An IBAN is enough for invoicing business customers and for paying VAT and corporation tax. You need a Danish reg. and account number if you want MobilePay, or if you are paid by consumers who expect a Danish account.

What is a NemKonto, and can it be a foreign account?

NemKonto is the account the Danish authorities pay into — VAT refunds, overpaid tax, and so on. It can be a foreign account, but you have to register it yourself rather than have it assigned automatically. See NemKonto’s own guidance for the current form.

What does a Danish business account cost?

At a Danish bank, a one-off opening fee plus a running monthly or quarterly fee, with cards charged separately. At the international providers the opening fee is usually zero or a small one-off, and the monthly fee starts free or near it. The table above has the current figures for each.

Opening the account, step by step

Register the company first

Decide whether you need a Danish account number

Apply to two providers, not one

Complete KYC and receive your details

Register the account as your NemKonto