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How to open a business account at kompasbank

You open a business account at kompasbank by filling out a short form on kompasbank.dk. You will then be contacted by an advisor who guides you through the setup.

How to get started

The setup takes place in three steps:

1. Fill out the form on kompasbank.dk You fill out a short form with information about your company and your needs.

2. We contact you An advisor from kompasbank contacts you to discuss your company and what you need the account for. Together you agree on the next steps and which information we need from you.

3. We review your information and open the account Once we have received the necessary documents, our team reviews your company as part of the mandatory Know Your Customer (KYC) process. When approval is in place, your account is opened and you get access to the netbank.

What do you need to have ready?

To open a business account, we need to collect information about your company and the people behind it. This applies to all banks in Denmark and is part of the mandatory KYC process, which protects against money laundering and financial crime.

You typically need to have the following ready:

  • MitID for the company's owner or authorised signatories
  • CVR number and company documents
  • Information on beneficial owners - persons owning 25 percent or more of the company
  • Passport or driver's licence for owners and authorised signatories
  • Latest annual report or other financial information about the company
  • Description of the business and the expected account activity

Why a KYC process?

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 we are required to know our customers and understand their activity before opening an account.

You do not need to attend in person - everything can be handled digitally.

What happens once the account is open?

When the account is ready, you get:

  • Access to the netbank with MitID login
  • The ability to create multiple users and assign roles
  • The ability to create Danish and international payments
  • Access to currency exchange at the rates of the package you have chosen

You can read more about which package suits your company in the article "Starter, Growth, or Scale - how to choose the right one".