New to BankNordik
Whether you are coming here to live, work or study we are here to help you.
When setting up an account at BankNordik for the first time, you are required to go through a process with paperwork, providing identification papers and registration.
Steps in the The Customer Establishment Process
- Mynd
How to create a bank account
Through email - kundi@banknordik.fo
- Fill in the form “Establishing of Customer Relationship – Retail Customer” and email it, including identification documents, to kundi@banknordik.fo and inform us of which products you wish.
At our branches
- Fill in the form “Establishing of Customer Relationship – Retail Customer” and hand in the form, including identification documents, at one of our branches
Branch opening hours:
- Customer service: Monday to Friday from 10am to 4pm.
- Cashier: Tuesday and Thursday from 10am to 4pm.
Information we will ask you
As part of the application process, we will ask you:
- Your personal details – this includes your date of birth, nationality, citizenship and social security number.
- Your address – current Faroese home address and your previous address (if less than 1 year).
- Contact details – your phone number and email address.
- Employment – we will need to know what your job is.
- Deposits and transactions – we need to know your total annual recurring amounts.
- Expected cash deposits – how many and the amount.
- Expected transactions to and from foreign countries – how many and the amount.
- Income – how much money you earn each month.
Identification Documents
Resident in the Faroe Islands
- Driving license
- Passport
- Identity card – from one of the countries in the Schengen Agreement*
- Identity card – from the Danish military
- Police identity card
Resident of a foreign country
- Driving license
- Passport
- Address verification from your country - Name, address, and personal identification number. Find your TIN number here.
If you have neither a driver’s license nor passport, you must provide the bank with two of the following identification documents, one of which must display name, identity number and address:
- Baptism or name certificate
- Social security document
- Latest tax return from TAKS
- Document from public authority, which verifies your name, social security number and address.
Confirmation of identity
When becoming a customer at BankNordik, we need to confirm your identity. This needs to be done before we can establish any products for you. You can confirm your identity in two ways:
Come by one of our branches
- You need to show us your identification documents, which are the same documents that you handed in with the “Customer Establishment form”. You can hand the documents in with your “Customer Establishment form”, or later if you are not in the Faroe Islands when applying for your account.
Order an online meeting on Teams
- You need to show us your identification documents, which are the same documents that you handed in with the “Customer Establishment form”.
How to close your account
You need to contact us, when your account is no longer needed.
It is important that the account is closed propperly, to ensure that your account does not get into overdraft because of the expenses on your account.
Please write to us through your netbank, or call us at telephone no. +298 330 330, and we will assist you in closing the account propperly.
Frequently asked questions
How quick is the customer establishment process?
The customer establishment process takes up to 2 days.
The time it takes, depends on:
- The document "Establishment of Customer Relationship - Retail Customer" being correctly filled out.
- That we have received all the relevant documents.
- That the identification verification is in place.
How quickly does the bank open personal accounts?
It takes 1 to 2 days to establish you as a customer in our systems.
You will be sent a document for establishing an account, which you will need to sign with Samleikin*. When signed, the account will be visible in your netbank.
*You need to have "Samleikin", a Faroese digital login and signature, before you sign up for internet banking. Read more here.
How quickly do customers get internet banking?
- It takes 1-2 days to establish you as a customer in our systems. You will be sent a document for establishing an account, which you will need to sign with Samleikin*.
- The Netbank is ready to use immediately after you sign the document for establishing your account.
*You need to have "Samleikin", a Faroese digital login and signature, before you sign up for internet banking. Read more here.
Who quick is it to get a card?
- When you are established as a customer in our system (1-2 days), we will send you the documents for ordering a card.
- The card will be ordered, when the documents for ordering a card are signed. The documents need to be signed with Samleikin. After you signed the card agreement it takes 10-14 days to receive a card.
What are the costs of establishing a customer relationship?
The costs of establishing a part time customer relationship are 250 kr. This cost includes a transaction account.
What are the costs of establishing a product?
There are costs related to:
- establishing as a customer
- getting an account
- getting internet banking
- ordering a card
Please contact us by e-mail or at one of our branches for specific costs.
The costs are variable and can change.
What are the limits of Mastercard Debit Standard?
Withdrawl from an ATM
- 10.000 kr. each day.
- 30.000 kr. for every 30 days.
Costs for withdrawing from an ATM are 5-8 kr., depending on the ATM being used.
Highest use allowed
- 30.000 kr. each day
- 200.000 kr. every 30 days.
Withdrawl in euro
- 30.000 kr. or around 1.300 euro for ATMs in the Faroe Islands and Denmark.
What are the limits of Visa/Dankort?
Withdrawl from an ATM
- 2.000 kr. each day
- 5.000 kr. at a BankNordik ATM outside work hours
- 10.000 kr. at a BankNordik ATM within work hours
Costs for withdrawing from an ATM are 5-8 kr., depending on the ATM being used.
Highest use allowed
- Unlimited for use in the Faroe Islands
- 25.000 kr. every 30 days.
- 25.000 kr. each day, when using Apple Pay, Google Pay, Fitbit Pay or Garmin Pay.
Withdrawl in euro
- 10.000 kr. or around 1.300 euro for ATMs in the Faroe Islands and Denmark.
Need assistance?
Book an appointment with us. We will guide you through customer establishment, confirming identity, netbanking, card issues, transfers and more.
