Best Digital Banks for International Students in Norway
The best digital banks for international students in Norway provide mobile account management, virtual or physical debit cards, low everyday fees and convenient international transfers.
However, newly arrived students should understand one major limitation: several Norwegian app-based banks require an existing BankID. This means they may work better as a second bank account after a traditional Norwegian bank has completed your identity verification.
Best Digital Banks in Norway for International Students
1. Sbanken: Best Overall Norwegian Digital Bank
Sbanken is one of the strongest choices for students who already have Norwegian BankID. It operates as a digital banking concept provided by DNB Bank ASA and no longer offers traditional desktop online banking; customers manage their accounts primarily through the Sbanken mobile app.
Its current account includes:
- No monthly account fee
- Free account opening
- Multiple current accounts
- Mobile notifications
- eFaktura and payment management
- Shared-account options
- Physical and mobile debit-card payments
Sbanken states that its current account is free to open and use. Its bank card is also advertised as free to use, although currency conversion and third-party ATM costs can still apply in certain situations.
The main disadvantage is that new customers generally need BankID to identify themselves in the app. A newly arrived international student without BankID may therefore need to open a first account through DNB, SpareBank 1 or another bank offering branch identification.
Eligible deposits in DNB and Sbanken are protected together under the Norwegian deposit guarantee up to a combined NOK 2 million per depositor.
Best for: Students who already have BankID and want a complete Norwegian mobile bank with no monthly account fee.
2. Lunar Light: Best Free Mobile-Only Account
Lunar is a fully digital bank with no physical branches. Its free Light package currently costs NOK 0 per month and includes:
- One digital bank account
- One digital debit card
- Mobile spending tools
- Apple Pay and Google Pay
- Budgeting and transaction notifications
A physical card is available with the Light package for a NOK 79 delivery fee. Lunar’s Standard package costs NOK 29 per month and includes three accounts, one physical Visa card, three digital cards and access to a savings account paying a variable 4% on eligible balances up to NOK 1 million.
Applications are completed through the app using photo identification. Lunar reviews the application and normally provides its decision in the app, but account approval remains subject to its verification requirements.
Lunar is supervised by the Danish Financial Supervisory Authority. Eligible deposits are protected by the Danish deposit guarantee up to €100,000 rather than Norway’s NOK 2 million domestic guarantee.
Best for: Students seeking a free secondary digital account, mobile budgeting tools and a virtual card.
3. Revolut Standard: Best for Travel and Multiple Currencies
Revolut is particularly useful for exchange students, frequent travellers and students receiving money in different currencies.
The free Standard plan currently includes:
- No monthly subscription fee
- Free virtual cards
- A free first physical card, excluding delivery
- European IBAN details
- Support for holding 38 currencies
- International transfers
- Apple Pay and Google Pay
Norway’s standard card-delivery fee starts from NOK 90.99 for local untracked delivery. The plan includes up to five ATM withdrawals or NOK 2,000 per rolling month, whichever comes first. Additional withdrawals cost 2%, with a minimum charge of NOK 10.
Currency exchange is free on weekdays within the Standard plan’s NOK 10,000 monthly fair-use allowance. A 1% fee applies above the allowance, and exchanges completed during the weekend also carry a 1% fee.
Revolut provides European IBAN details and multi-currency features, but students should verify whether their university, employer, landlord and Norwegian payment services accept the provided account details before treating it as their only account.
Eligible deposits held with Revolut Bank UAB are protected by the Lithuanian deposit-insurance scheme up to €100,000 per depositor.
Best for: International travel, card spending abroad and receiving or converting several currencies.
4. Wise: Best for International Transfers and Tuition Payments
Wise is not a conventional bank. It is a regulated payment provider offering a multi-currency account and debit card to eligible Norwegian residents.
A Wise personal account has no monthly subscription fee. The physical card currently costs NOK 71, while the digital card is free. Norwegian customers receive free ATM withdrawals up to a total of NOK 2,900 per month, after which a 2.69% fee applies to the amount above the allowance.
Wise can be useful for:
- Receiving money from family abroad
- Paying international tuition fees
- Holding several currencies
- Converting money using the mid-market exchange rate
- Receiving euros through European account details
- Spending abroad with a debit card
Wise does not offer overdrafts or loans. Customer money is safeguarded separately from Wise’s own funds rather than being covered by an ordinary bank deposit-guarantee scheme.
It should therefore be viewed as an international payment account rather than a complete replacement for a Norwegian current account.
Best for: Low-cost international transfers, currency conversion and receiving financial support from abroad.
5. Bulder: Best Alternative Norwegian Banking App
Bulder is a digital banking service provided by Sparebanken Norge. It offers current accounts, savings, cards, eFaktura, AvtaleGiro and Vipps through its mobile app.
Its current and extra accounts have no monthly maintenance fee. Ordinary bill payments, domestic transfers, AvtaleGiro and eFaktura are also free. A physical debit card costs NOK 300 per year, while a virtual card costs NOK 240 annually. The foreign-currency markup is 2%.
To become a customer, you must:
- Be at least 18 years old
- Have Norwegian BankID
- Use a phone with fingerprint or facial-recognition support
- Complete the application through the Bulder app
These conditions make Bulder unsuitable as a first bank for a student who has just arrived without BankID.
Best for: Students with BankID who want a Norwegian mobile bank with local payment tools and competitive savings features.
Can You Open a Digital Bank Account Without BankID?
It depends on the provider.
International services such as Wise and Revolut generally use their own digital identity-verification processes. Lunar accepts applications through its app with photo identification.
Norwegian digital banks such as Sbanken and Bulder normally require an existing BankID. BankID itself is issued by Norwegian banks after identity checks, often involving presentation of an accepted passport.
New students without BankID may first need a branch-assisted account from a conventional Norwegian bank. Once BankID is active, they can consider switching to or adding a digital bank.
What to Compare Before Opening an Account
Check the following costs and features:
- Monthly subscription fee
- BankID requirement
- Norwegian or European account details
- Physical-card and delivery fees
- Currency-conversion markup
- ATM withdrawal allowance
- International transfer fees
- Vipps, eFaktura and AvtaleGiro support
- Deposit-protection scheme
- Availability of human customer support
A digital bank may be excellent for travel but inconvenient for Norwegian rent payments or local administrative needs.
Final Verdict
Sbanken is the best overall digital bank for international students who already have BankID and want a complete Norwegian account without monthly maintenance fees.
Lunar Light is a strong free mobile alternative, while Revolut is best for travel and holding several currencies. Wise is the most useful option for international transfers but is not a conventional bank. Bulder is another capable Norwegian mobile bank, although its BankID requirement and annual card fee reduce its value for newly arrived students.
For many students, the most practical setup is a Norwegian current account for local payments combined with Revolut or Wise for international spending and transfers.
Official Sources
- Sbanken: Account-opening requirements and BankID requirements.
- Lunar: Free and paid account packages and deposit-protection information.
- Revolut: Norway Standard plan fees and multi-currency account features.
- Wise: Norwegian card pricing and Wise Europe’s safeguarding policy.
- Bulder: Account and customer requirements and bank-card information and fees.
- Norwegian Banks’ Guarantee Fund: Official deposit-protection limits.
