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 here with information about your company and your needs.
2. We contact you: An adviser from kompasbank will contact you to discuss your business and your needs. Together, you will agree on the next steps and the information we need from you.
3. We review your information and open the account: Once we have received the required documents, our team will review your business as part of the mandatory Know Your Customer (KYC) process. Once approved, your account will be opened, and you will receive access to online banking. The process typically takes 2–5 business days from the date we receive all documents.
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 about beneficial owners – individuals who directly or indirectly own 25% 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".