Questions on this topic (5)
- Which is the best business bank for a Danish ApS in 2026?
Which is the best business bank for a Danish ApS in 2026? Comparison of pricing, approval time, integrations and best fit by company stage.
- How long does it take to open a business bank account?
How long does it take to open a business bank account in the Nordics? Real approval times for fintechs and traditional banks in 2026.
- Which documents are required for KYC when opening a business account?
Complete list of KYC documents Nordic banks require when opening a business bank account in 2026.
- How much does a business bank account cost?
How much does a business bank account cost in the Nordics in 2026? Monthly fees, transaction charges and hidden costs compared.
- Business vs personal bank account — what's the difference?
What's the difference between a business and a personal bank account? Law, accounting, fees and when to switch.
How we analyse the market
The Nordic business banking market has shifted more in 2024-2026 than in the previous decade. Lunar, Revolut and Wise now hold an estimated 10-12% market share among newly registered entities, primarily because their approval times average 1-3 days versus 5-25 days for traditional banks (Approly data, n=2,140 applications across DK/SE/NO).
Price is rarely the deciding factor. Our data shows that 78% of businesses that switch banks do so because of slow support, missing credit lines or weak local-payment integration (MobilePay, Swish, Vipps) — not because of monthly fees. Always evaluate total cost on your actual transaction mix.
For entities with complex ownership (foreign owners, holding structures, trusts), only 3 out of 8 large Nordic banks handle multi-track KYC within 14 days. Approly bundles the full KYC package once and sends it to multiple providers in parallel — so you don't restart from zero if the first bank declines.