Denmark is hailed as one of the greatest countries to live, study, work and just have an adventure. Those who have had the rare chance to get hold of the coveted Schengen visa to Denmark will confess how much mixed reactions it arouses. Who can just keep calm when traveling to one of the happiest countries where honesty, government services, transparency, name it are at their best?
In Denmark, the government works round the clock to make sure that everyone lives a comfortable life. Indeed this can’t be better explained by anything than the social security system where the government and other public institutions send benefits, allowances and help to individual beneficiaries.
You might have heard or read somewhere that Danish authorities give monies to companies and private citizens. In any given year, so many Danish citizens, qualified expatriates and companies expect to receive money from the public sector. This money may come every three months, fortnightly, semi annually or annually. One thing about Denmark is that the system wants a clear view of money sent by the public sector for accountability. So, the recipient of any such funds from the public sector must choose and designate a specific bank account for receiving them.
Complicated as the name Nemkonto may sound, it simply means a specific normal bank account where a recipient of public funds in Denmark wants such monies to be paid out to. It can just be your normal bank account designated as a Nemkonto.
Some of the monies received in Nemkonto
Someone may be wondering if the account is just an ordinary account then why give it an entirely new name. Nothing so out of the ordinary about Nemkonto. Only that it would be better to have a particular definition for clarity and transparency.
Some of the monies received from public sector into Nemkonto in Denmark include;
- Tax or VAT refunds
- child subsidies
- student loans
- unemployment benefits
- housing support
- social welfare payments
- state educational grant (SU) more about this is here.
Nemkonto in Denmark is a testament to the country’s accountability system
Denmark has been rated as one of the happiest places on earth to stay. It has become a popular choice among expats who know a thing or two about its greatness as a country. If you are planning to move to Denmark either for business or just on vacation then there are a few things you need to put in place.
As part of entering Denmark. opening a bank account is key. Unlike other countries in the global south where banking and having a bank account is considered a preserve of the rich, Denmark considers it a critical entry point for financial inclusion. So, aside from getting a CPR, housing, securing a NemID which has undergone a rebranding to MitID, and a Yellow card, opening a Danish account is key.
To get comprehensive details about entering Denmark, please check moving to Denmark guide.
How to assign a Nemkonto in Denmark
There are people with several bank accounts that have more than one account to make their savings or where they remit their funds. When you move to Denmark, then you have to choose one active account you wish to use as your Nemkonto.
The following guide could just be what will help you establish the Nemkonto;
1.Contact your Danish bank and inform them which account to assign as your Nemkonto. This will help create awareness for the individual and the bank.
2.As a private customer you can assign an account number yourself, at Nemkonto.dk” s self-service. But if you have a NemID or a digital signature (click log in to some Borger in the box on the right labelled selvbetjening)
3. If you wish to assign a foreign bank account as your Nemkonto, you can now easily do so by following the above instructions.
How to change your Nemkonto in Denmark
Financial security is something everybody else would really look into especially when it comes to changing bank accounts. The very first thing you do when you land in Denmark is to change your Nemkonto to get a new bank. You can do this yourself at www.nemkonto.dk. If you have a NemID or a digital signature. You can also contact your bank to make it simpler for you by changing it.
Most people get stuck at the mention of Nemkonto but it entirely means easy accounting. It is a system that enables Danish authorities and institutions to transfer money directly to citizens’ bank accounts. Those living in Denmark who are over 18 years of age however must have a NemID and an easy account. This Nemkonto is your designated bank account for receiving payments from public authorities directly. It has really made everything simpler because you can now make your transfers at the comfort of your home.
Opening a bank account in Denmark before arriving in the country
Most banks in Denmark provide online banking and will allow you to start the process of opening a bank account before even arriving in the country. However, depending on your status, some traditional banks may ask you to show your documents including your CRP number at a local branch upon arrival in Denmark. This could mean that you won’t have a fully functioning Danish bank account upon arrival.
If that is the case, then a great alternative will be initiated to consider opening a Danish bank account with a trusted online bank. The verification process is very simple and fast. You can have your card mailed to your current address before you make any transactions.
Final thoughts about Nemkonto in Denmark
Everyone loves it when almost everything is made simpler for them, be it matters to do with finances or anything else most probably when moving to a new place. That is why Nemkonto still remains to be the best bank account in Denmark for receiving payments from public authorities directly. Simply follow the necessary guidelines and you can never go wrong with Nemkonto.