All you need to know about the currency of Norway: The Norwegian krone. The currency used throughout Norway is the Norwegian krone. It is also informally accepted in many shops in Sweden and Finland that are close to the Norwegian border. The currency is also informally accepted in certain tourist shops in Hirtshals and Frederikshavn, both popular ferry ports in Denmark. When speaking to … [Read more...]
Money & Finance
Understanding how money works in Norway is critical to a happy relocation. Here's our top tips on looking after your personal finances.
Warning: The cheapest way to transfer money to Norway is not with your bank! We get a lot of queries from foreigners about to move to Norway asking what is the cheapest way to transfer money to Norway when they move. Plus, we get just as many questions from expats already here wanting to know the cheapest way to send money back home from Norway. The most typical scenario involves a one-off … [Read more...]
Paying for goods and services with your smartphone is fast becoming common practice across Norway. Bank branches are a less common sight across Norway these days as more and more people use their mobile phone to manage their finances. Norwegian residents have long preferred making payments with credit and debit cards over cash transactions, and now mobile payments are starting to take off. It … [Read more...]
Finally after much media interest, the design of Norway's new banknotes has been confirmed. The set of colourful notes featuring iconic Norwegian imagery will enter circulation in the summer of 2017. According to Norges Bank, each denomination features an easily recognised primary motif on one side that communicates central characteristics of Norwegian maritime history. Think Viking boats, … [Read more...]
Tips and advice on making the most of your foreign exchange. In my last post, I provided an introduction to foreign exchange for people who had all but no idea what the forex market was, or how it works. That post included a guide to reading the foreign exchange rates, as well as explaining why each currency pair has a different rate, and why the foreign exchange rates change. Following on … [Read more...]
A beginner's guide to exchanging currency. Do you plan to emigrate to Norway? Then before you do, one crucial part of the process is exchanging currencies into the Norwegian krone, and transferring your money to Norway. This may be because you intend to buy a house there, or just because you’re emigrating, and need some savings to tide you over, during the first few weeks. Given that, … [Read more...]