Having now been officially adopted by the Norwegian government, it was time to get a bank account.
We wandered down to The Bank of Norway (DNB – Den Norske Bank).
I had all the right ID, passport, and fødselsnummer; and my signature was a spot on match.
Fifteen minutes later I was the proud new owner of my very first Norwegian bank account.
I can transfer up to 300,000 NOK each month to any (overseas) account and can withdraw money for free. EFTPOS transactions cost 2.50 NOK ($0.5 NZD).
I even get paid interest.
0.15%. That’s not a typo.
So, if I save 100,000 NOK (around $21,000 NZD), after a year I’ll have earned 150 NOK in interest, less tax. That’s almost enough to buy a coffee and cake for the two of us.
If I want to earn more interest I can open a special savings account also for free, where I will be paid 0.75% interest.
With home loan rates hovering around 3%, it’s no surprise most people here own their homes, and rentals seem so hard to come by.
Saving money is just, like, so not cool.