What is a business account at kompasbank - and who is it for?
A business account at kompasbank is an account built for companies that handle local and international payments and exchange currency as part of their daily operations. It gives you access to both Danish and international payments as well as currency exchange at competitive rates.In this article, you can read what the account includes, who it is for, and how it differs from a standard business account at a bank.
What does a business account at kompasbank include?
With a business account, you get:
- DKK and EUR accounts, so you can keep Danish kroner and euros separate and avoid unnecessary conversions
- Local payments in Denmark - fast and simple, just as you know it from your regular bank
- International payments via SEPA and SWIFT, so you can send money to suppliers and partners worldwide
- Currency exchange at competitive rates, where the margin depends on the package you choose
- Onboarding and login with MitID, so you get up and running quickly and log in securely
- Full digital access via the netbank, where you can see balances, create payments, make bulk payments, and manage users
The account is available in three packages - Starter, Growth, and Scale - where the main difference is the exchange rate you get. You can read more about the packages in the article "Starter, Growth, or Scale - how to choose the right one".
Who is the account for?
A business account at kompasbank is built for Danish SMEs with international activity in their business. This could be, for example:
- Importers and exporters who buy goods abroad and sell in Denmark - or the other way around
- Webshops and e-commerce companies with suppliers in other countries
- Service companies with international customers or subcontractors
- Manufacturing companies that pay in multiple currencies
- Consultancies and agencies with clients or partners across borders
If your company regularly sends or receives payments in foreign currency, the account is relevant. If you only have Danish activity and rarely exchange currency, a standard business account at your current bank will typically cover your needs.
What is the difference between a business account at kompasbank and a standard business account?
A standard business account at a Danish bank is built for daily operations - paying salaries, paying bills, receiving payments from customers. It can also be used for international payments, but most banks charge a fixed fee per international transaction and add a significant margin on top of the exchange rate, often 2-4 percent.
A business account at kompasbank is built specifically for international activity. This means:
- The currency margin is lower and depends on how much you exchange
- International payments are a core service, not an add-on
- The package model means that companies with high exchange volume get better rates than companies with low volume
You can have a business account at kompasbank alongside your existing bank. Many of our customers use kompasbank for international activity and their existing bank for daily operations.
Is it a real bank account?
Yes. kompasbank is a Danish bank with a banking licence from the Danish Financial Supervisory Authority (Finanstilsynet) and is subject to the same regulation as other Danish banks. This means, among other things, that deposits are covered by the Danish deposit guarantee scheme on the same terms as with any other bank in Denmark.
You can read more about kompasbank as a bank in the article "Is kompasbank a real bank? Licence, supervision, and deposit guarantee".
How do I get started?
You open a business account directly at kompasbank.dk. Onboarding takes place digitally with MitID, and most companies can get up and running within a few days, depending on the complexity of the ownership structure and the documents that need to be presented.