Compare Business Banking in Denmark

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What is business banking in Denmark?

Business banking in Denmark provides the accounts and payment tools a company needs to operate. Every business needs an erhvervskonto (business account) to receive revenue, pay suppliers and staff, and settle taxes. To open one you must have a CVR number, the Danish company registration identifier, and access to MitID Erhverv, the business version of the national digital ID. Business accounts also link to NemKonto, the single account the public sector uses to pay money owed to a company. Providers range from large full-service banks to lean digital challengers.

How the Danish market works

Setting up starts with registering the business and obtaining a CVR number, after which you can open an erhvervskonto. Each company designates a NemKonto so that public payments, such as VAT refunds, arrive automatically. Day-to-day authorisation and online banking rely on MitID Erhverv, which lets employees act on the company's behalf with appropriate rights. Banks differ widely: traditional institutions bundle advisory services, credit facilities and cash handling, while digital-first providers focus on fast onboarding, low fees and clean apps. The whole sector operates under the supervision of Finanstilsynet, which licenses and monitors banks.

Benefits

A well-chosen business account streamlines the financial admin every Danish company faces.

NemKonto integration — designating your erhvervskonto as the NemKonto ensures public-sector payments and refunds arrive automatically without extra setup.

MitID Erhverv access — secure, role-based digital ID lets multiple employees manage banking with the right permissions.

Choice of model — pick a full-service bank for credit and advice, or a digital provider for speed and low monthly fees.

Clean separation of finances — a dedicated erhvervskonto keeps company money distinct from personal funds, simplifying accounting and tax.

How to choose

Match the account to how your business actually operates. If you need lending, cash handling or dedicated advisers, a traditional bank is worth the higher fees; if you mostly send and receive digital payments, a challenger bank can cut costs and speed up onboarding. Compare monthly fees, transaction charges and any card costs, and check whether the account integrates smoothly with your accounting software. Confirm how MitID Erhverv roles are handled for multiple users, and verify that opening the account is straightforward given your CVR registration and company type.

Leading providers in Denmark

Full-service business banking is offered by Danske Bank Business DK, Jyske Bank Business, Arbejdernes Landsbank Business, Andelskassen Business, Frøs Business and the local Sparekassen Business DK, plus the values-based Merkur Business for ethically minded firms. Lunar Business DK represents the digital-first end of the market, with app-based onboarding and lower fixed costs. Larger banks suit companies wanting credit lines and in-person advice, while digital and cooperative providers appeal to smaller firms and startups prioritising low fees and quick setup.

What it costs

Monthly fees for a Danish erhvervskonto range from around DKK 0 at some digital or basic accounts to roughly DKK 200 for full-service packages with added tools and support. On top of the monthly charge you may pay per-transaction fees, card fees and costs for cash handling or foreign payments. Digital providers tend to keep fixed costs low but may charge for extras, while traditional banks bundle more services into a higher standing fee. Credit facilities and overdrafts are priced separately based on the company's profile.

Protections and regulation

Banks serving Danish businesses are licensed and supervised by Finanstilsynet, the Danish FSA. Company deposits are covered by the Garantiformuen deposit guarantee, which protects eligible deposits up to EUR 100,000 per depositor per bank. Access and authorisation run through MitID Erhverv, giving secure, auditable control over who can act for the company. These safeguards give businesses confidence that their funds and payment operations are protected and properly overseen.

Common questions

Do I need a CVR number to open a business account? Yes, the account is tied to your registered CVR. What is a NemKonto? It is the single account the public sector uses to pay money owed to your company. What is MitID Erhverv? It is the business digital ID used to authorise banking and manage employee access. Are business deposits protected? Yes, up to EUR 100,000 per depositor per bank under Garantiformuen. Can a startup get a free account? Some digital and basic accounts start at DKK 0 per month.

Business Banking in Denmark — FAQ