|DANSKE BANK||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to NOK||NO MINIMUM||5/7 DAYS||2.0%||11.702|
|EUR € - to NOK||NO MINIMUM||5/7 DAYS||2.0%||10.077|
|BROKER RATES||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to NOK||From £100||From 1 DAY||From 0.7%||11.857|
|EUR € - to NOK||From £100||From 1 DAY||From 0.7%||10.21|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Answer: Using Danske Bank services, the exchange rates shown are typical. All banks have individual rates and commission structures for international currency transfers. Find the latest exchange rates for an overseas bank using our Bank Rate Comparison below:
Save on exchange rate conversions when transferring money or making payments overseas from your Danske Bank account in Norwegian krone, euros, the UK pound & other currencies. Danske Bank international money transfers to or from Norway have higher transaction charges, due to a less competitive exchange rate offered by Danske Bank. Skip to: Norway Money Transfer Specialists
Typically, sending funds to or from your Danske Bank account in Norwegian krone (NOK), the UK pound or US dollar overseas bank account will involve a margin rate of 2.0% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your Danske Bank account in Norway needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of 1,000,000 Norwegian krone (NOK) using Danske Bank services would have a transaction exchange rate margin of around 2.0% – or 20,000 NOK. Using a specialist broker, in this example TorFX – the exchange rate margin would work out at 0.7% – or only 7,000 NOK in total, which is a large saving over the bank service.
International money transfers from Danske Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Danske Bank account holder to use their services. Danske Bank may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of £5000 (or 50,000 NOK).
Unless you pay a premium, Danske Bank’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
Danske Bank is a major bank for the Norwegian market (formerly named Fokus Bank) and is the Norwegian operation of Denmark’s Danske Bank, with over 40 local branches spread around all of Norway. Danske Bank has over 200,000 private customers and 15,000 business customers in Norway.