New to Føroya Banki
Whether you are coming to the Faroe Islands to live, work or study we are here to help you.
How to create a bank account
To become a customer, you need to fill out a form by clicking on the button “Become a customer”.
It will lead you to a questionnaire where you will answer some questions and upload documents. After completion, the information will be sent to Føroya Banki and we will get back to you within two business days.
The form will take approximately 15 minutes to fill out.
If you are not able to use the questionnaire above, please contact us here.
What you will need
- Samleikin: Before you start filling out the form, you need to have a Faroese digital login called Samleikin. You can find information on how to obtain Samleikin at samleikin.fo.
- Proof of identity: When filling out the form, you need to have either your passport or driver’s license at hand.
- Proof of address in home country: In addition, if you have moved from abroad, you need proof of address in your home country. This should be in the form of government issued documentation such as an ID card with your address on it, or other proof of address, such as a lease or a utility bill. Please attach your proof of address in “other documents” during the application process.
NB! Please note that you should write your Faroese address as your primary address.
As part of the application process, we will ask you for:
- Your personal details – these include your date of birth, nationality, citizenship and social security number.
- Your address – current Faroese home address and your previous address (if you have spent less than 1 year at your current adress).
- Contact details – your phone number and email address.
- Employment – we will need to know what your job is.
- Deposits and transactions – we need to know your total annual recurring amounts.
- Expected cash deposits – how many and the amount.
- Expected international transactions – how many and the amount.
- Income – how much money you earn each month.
Identification Documents
Resident in the Faroe Islands
- Driver's license
- Passport
- Identity card – from a country in the in the Schengen Agreement*
- Identity card – from the Danish military
- Police identity card
Resident abroad
- Driver's license
- Passport
- Address verification from your country - Name, address, and personal identification number. Find your TIN number here.
If you have neither a driver’s license or passport, you must provide the bank with two of the following identification documents, one of which must display name, identity number and address:
- Birth certificate
- Social security document
- Latest tax return from TAKS
- Document from public authority, which confirms your name, social security number and address.
How to close your account
You need to contact us, when you no longer need your account.
It is important that the account is closed correctly, in order to ensure that your account does not get into overdraft because of any expenses on your account.
Please write to us through your netbank, or call us at telephone no. +298 330 330, and we will assist you in closing the account correctly.
Frequently asked questions
How quick is the customer establishment process?
The customer establishment process takes up to 2 days.
The time it takes, depends on:
- That we have received all the relevant documents.
- That the identification verification is in place.
How quickly does the bank open personal accounts?
It takes 1 to 2 days to establish you as a customer in our systems.
You will be sent a document for establishing an account, which you will need to sign with Samleikin*. When signed, the account will be visible in your netbank.
*You need to have "Samleikin", a Faroese digital login and signature, before you can sign up for online banking. Further information is available here.
How quickly do customers get online banking?
- It takes 1-2 days to establish you as a customer in our systems. You will be sent a document for establishing an account, which you will need to sign with Samleikin*.
- Our online banking facility Netbanki is ready to use immediately after you sign the document establishing your account.
*You need to have "Samleikin", a Faroese digital login and signature, before you sign up for online banking. Further information is available here.
Who quick is it to get a card?
- Once you are established as a customer in our system (1-2 days), we will send you the documents for ordering a card.
- The card will be ordered, once the documents for ordering a card have been signed. The documents need to be signed with Samleikin. After you sign the Card Agreement, it takes 10-14 days to receive a card.
What are the costs of establishing a customer relationship?
The cost of establishing a temporary customer relationship is DKK 250. This cost includes a current account.
What are the costs of starting to bank with BankNordik?
There may be costs associated with:
- establishing a customer relationship
- opening an account
- getting online banking
- ordering a card
Please contact us by e-mail or visit one of our branches for specific costs.
The costs are variable and subject to change.
What are the spending limits on MasterCard Debit Standard?
ATM withdrawl
- DKK 10,000 per day.
- DKK 30,000 per 30 days.
The fee per ATM withdrawl is DKK 5.00 to 8.00, depending on the ATM used.
Spending limit
- 30,000 kr. per day
- 200,000 kr. per 30 days.
Withdrawal in euro
- DKK 30,000 or around EUR 1,300 for ATMs in the Faroe Islands and Denmark.
What are the limits of Visa/Dankort?
ATM withdrawl
- DKK 2,000 per day
- DKK 5,000 from a BankNordik ATM outside working hours
- DKK10,000 from BankNordik ATM within working hours
The fee per ATM withdrawl is DKK 5.00 to 8.00, depending on the ATM used.
Spending limit
- Unlimited for use in the Faroe Islands
- DKK 25,000 per 14 days.
- DKK 25,000 per day, when using Apple Pay, Google Pay, Fitbit Pay or Garmin Pay.
Withdrawals in euro
- DKK 10,000 or around EUR1,300 for ATMs in the Faroe Islands and Denmark.
Need assistance?
Book an appointment with us. We will guide you through customer establishment, identity verification, online banking, card issues, transfers and more.