What is the local currency?
Norwegian Krone (NOK)
What denominations does it come in?
Coins: 0, 5, 1, 5, 10 & 20 Kroners
Notes: 50, 100, 200, 500 and 1000 Kroners
What is the best way to exchange currency?
At the bank or local exchange offices. Often you will get the best exchange rate by using credit cards at the cash machine.
What are commonly-used forms of payment for everyday purchases (such as groceries)?
Cash and credit cards. Credit card payment is very common.
Will I be able to use my credit card around town? If not, list when I’ll need cash.
Yes, almost everywhere, and even on small amounts, as Norwegian banks normally do not charge commission. It is even normal here to withdraw cash in stores as you purchase groceries, etc. It is advisable to have cash when using public transportation, such as bus, tram, metro, etc.
By what method are bills (such as rent and utilities) paid?
By bank transfer. Either upon invoice or fixed withdrawals from your account for frequent charges (upon approval).
What are the requirements for opening a bank account? At what stage of the settling-in process should I open it?
Normally, it is sufficient to show an ID and a postal address. It should be opened as soon as possible to make transactions easier and to avoid heavy commissions by using foreign accounts, credit cards, etc. Please note that to obtain credit cards, loans, etc., other requirements will apply.
Will foreign residents be able to find banking services in their native languages?
Norwegian is the general language used. But the banks will help you as best they can in available languages, normally English.
Are there any restrictions on services for those who are new to your country?
Normally not, but this depends on required service. To obtain loans, credit cards, etc., you should present your financial history.
What are typical banking hours?
Normally from Monday - Friday, 9:00 a.m. - 3:00 p.m. Norwegian banks are encouraging clients to use online banking as access to personal service has been more difficult in recent years.
Are automatic teller machines (ATMs) available around the clock?
Yes. And you are also able to withdraw cash when purchasing groceries, gasoline, etc.
Is there any other money information that might help me?
Credit cards are accepted everywhere. It can be difficult to use foreign currency (cash), so these should be exchanged first.
Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Should you have any questions or need additional information, please contact your local Crown representative.