Making sense of money and personal finance is a critical first step for new arrivals in Norway.
Whenever you move to a new country, admin and bureaucracy simply works a little bit differently. This is especially true in the area of personal finances.
For one thing, the country is heavily digitised. It’s rare for anyone other than tourists to pay with cash. Mobile payments are gathering pace, while online banking has almost replaced the need for branches.
Foreigners living in Norway can apply for credit cards after they have one full year of tax records. Only permanent residents and citizens will be able to successfully apply for a personal loan.
When you first move to Norway, you’ll likely need a big chunk of cash to hand for things like a housing deposit. Banks are almost never the cheapest way to transfer money across borders. Check out the opportunities provided by international money transfer services to make your money go further.