Business account prices: Here you get Denmark’s cheapest business account

You can save up to DKK 5,705 the first year when you need to create a business account for your company.

This shows a new comparison of a selection of the largest Danish banks, which Denmark’s largest comparison service within financial services,, is behind.

Does a small entrepreneur live in your stomach, or are you one of the many Danes who have started their own business? Then you probably also know that there are many expenses associated with getting started. One of these expenses is the creation of a business account.

In this connection, we have compared the expenses in the first year by setting up a business account for small start-ups and self-employed people at some nationwide Danish banks, which also disclose the prices online.

Bank Creation Annual expenses Price first year
Lunar 0 kr 2,450 kr 2,450 kr
Danish bank 4,000 kr 3,348 kr ISK 7,348
Sydbank 3,895 kr 4,260 kr 8,155 kr
Nordea 4,800 kr 1,980 kr 6,780 kr
Nykredit 3,000 kr * 1,428 kr 4,428 kr
The prices are taken from the banks’ websites on 22 June 2021.
* The minimum price is 3,000 kroner, but there is a risk that it will be higher.


Business account prices: Here you get Denmark's cheapest business accountThe price differences are palpable. The Danish digital bank, Lunar, with their product Lunar Business Solo, offers the cheapest solution with free set-up and an annual fee of DKK 2,450. At the other end, we find Nordea, which charges DKK 4,800 in set-up fees for business customers and fixed annual expenses of DKK 1,980. This means a saving of DKK 4,330 the first year for small companies that choose Lunar instead of Nordea. If you had Sydbank, you would have saved as much as DKK 5,705 in the first year.

Danish bank

If, on the other hand, you choose to become a business customer at Danish bank with their Danske Business One solution, it will cost DKK 7,348 the first year and is thus the second most expensive solution of the banks that we have compared.


At the bottom we find Sydbanks Favorite for small or start-up companies, where you as a business customer will pay DKK 8,155 the first year – DKK 3,895 in establishment and DKK 4,260 in fixed annual expenses.


Nordea Bank is on the cheap end when it comes to having the lowest annual expenses (1,980 kroner), but their set-up fee of 4,800 kroner means that they are in last place when we only look at the costs of setting up a business account the first year.


One of the cheaper banks for small businesses is in our analysis Nykredit with a set-up fee of 3,000 kroner (this is the minimum price) and 1,428 kroner in annual expenses. Thus, there is a total saving in the first year between Nykredit’s and Lunar’s prices of almost 2,000 kroner.

The cheapest business account can be found at Lunar

Among the above companies, Lunar pulls off as the cheapest bank for business customers. And it is thus no great surprise that every other start-up company chose Lunar as their preferred bank according to figures from Statistics Denmark.

One of the things that attracts companies and sets Lunar apart from the established banks is that they have free creation. You receive a VISA card without card fees, and you and your company get access to Denmark’s best banking app. You can easily and elegantly follow transactions and more using the Lunar app.

In general, recommends performing several price checks when you as a consumer choose to commit to a subscription – whether it is a business account or your new car insurance!

With an overview of the banks’ prices, you can quickly separate the sheep from the goats and move on with the few banks that are at the good price end. To select the only one, further suggests calling the banks to understand them on their products and services. Feel free to make a list of questions for the banks that you can use in a comparison and keep them up to date.

Important information about business accounts

It is not a legal requirement to have a business account if you are defined as one sole proprietorship, but in addition is it a requirement. This is a requirement as the company’s finances must be separate from your personal finances.

In addition, it is a claim, that you get a NemKonto for your company to be able to make payments and payments to the public (eg VAT)

When you create a business account, it is also important that you provide the bank with some information. Thus, according to money laundering legislation, you must state the scope, purpose and identity of your company. This can be done by sending your CVR number, ID and a business plan to the bank, where the latter in particular requires a bit of love.

This is because you can actually screw up the price a bit if you show good business understanding and the bank generally has an idea that your business is a good investment to spend time on!

The analysis is based on the fact that you are not a private customer at the bank and only need one business account. There are usually also costs for creating multiple accounts, card fees, fees for online banking, currency fees, etc. We have not included these in the analysis.

Sources:, Lunar, Statistics Denmark, Danske Bank, Nordea, Nykredit and Sydbank

Source: IT-Kanalen by

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