SPONSORED CONTENT An ideal banking option for frequent travellers and foreigners living in Norway. Available to anyone living in Norway, Ferratum Bank is a "borderless" bank account, perfect for frequent travellers and those of us living abroad. The mobile bank app is linked to the Ferratum debit card and offers: Free multi-currency accounts Free withdrawals in EU countries Money … [Read more...]
Money in Norway
Personal finance tips
Understanding how money works in a new country is critical to a happy relocation. The currency used in Norway in the Norwegian krone, known in English as the crown.
Although cash is still accepted in the majority of establishments, card payments and especially mobile payments account for a huge percentage of transactions.
Here's our top tips on looking after your personal finances as an expat in Norway.
How to become a permanent resident of Norway and stay in the country for good. Becoming a permanent resident of Norway is a goal for many new arrivals. It offers more protection than a regular work permit, which is usually linked to a specific job, but stops short of having to become a Norwegian citizen. The rules for permanent residence are complex and depend on many things, but the most … [Read more...]
Vipps, BankAxept and BankID are to merge in an effort to combat increasing global competition in the payments and digital ID space. The banks have signed a letter of intent to bring the three payment and identification systems into one company. Subject to agreement from the Norwegian competition authorities, the new company will be headquartered in Oslo and should be up and running by August … [Read more...]
How to become a citizen of Norway. It is possible for citizens of other countries to become citizens of Norway. The rules vary depending on your circumstances, but generally anyone who has been legally resident in Norway for at least seven years will have earned the opportunity to apply. Norwegian citizens can vote in national elections, and receive a Norwegian passport. According to the … [Read more...]
Nordea jump on board the Vipps train, while Danske Bank announces MobilePay will no longer be available in Norway. The Norwegian branch of Nordea Bank has entered into a cooperation agreement with mobile payments app Vipps for distribution to the bank's customers in Norway. Although Nordea Norway will distribute Vipps to its customers, it won't have an ownership stake in the new Vipps … [Read more...]
The British Ambassador to Norway speaks about life post-Brexit. The UK will take several steps to maintain a strong post-Brexit relationship with Norway, the British Ambassador to Norway has said. Sarah Gillett wrote an editorial piece for our friends at The Local in which she says that Britain wants a "new, deep and special" partnership with Norway. While the piece of course doesn’t shed any … [Read more...]
17 asylum reception centres are to close after a big drop in asylum applications to Norway. According to a report in The Local, Norway’s Directorate of Immigration (UDI) has said that it will close 17 asylum centres across the country. Norway's national broadcaster NRK reported that the decision is likely to affect several hundred under-age asylum seekers. A big drop in asylum seekers A UDI … [Read more...]
The Norwegian Football Association has entered into an agreement to provide access to football activities for asylum seekers in Norway. During the past year, the Norwegian Directorate of Immigration (UDI) has entered into agreements on activities for those in asylum centres with the voluntary and humanitarian organisations Caritas Norge, the Salvation Army, the Church City Mission, … [Read more...]
Use this service to save thousands on bank transfer fees between Norway and the USA. Maybe you are looking to move from the United States to Scandinavia for work and want to know if it's possible to send money back home on a regular basis? Or perhaps you're a long-time resident of Norway wishing to transfer some cash back to friends or family in the States? Whatever you reason for … [Read more...]
Norway's Central Bank has released an ocean-themed music video to spread the word about its new 200-krone banknote. The comedy ad features three well-known Norwegian comedians – Knut Lystad, Lars Mjøen and Jon Niklas Rønning – a rap from DJ Codfather and a cameo from central bank governor Øystein Olsen. A remake of a 1980s comedy song, the video was the brainchild of Norges Bank’s communication … [Read more...]