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Interest rates on deposits from 2o June 2025

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The Norwegian Gambling Authority’s decision issued on 01.09.2023

Changes to interest rates in currency accounts in DNB Bank ASA

Adjustment of foreign exchange spreads – International payments

Over the years, foreign exchange spreads have been regularly changed in line with the competitive situation and as a result of a spread in pips (percentage in points) changing when currency rates change. For example, a spread of 4 øre in EURNOK amounts to 0.5% when the price is 8.00 and only 0.39% when the price is 10.25.

See a summary of our prices and price lists which are issued daily. You’ll also find information here about how tasks are handled and prices are set, and you can observe any changes to spreads.

We’ve now implemented a change to the spreads for our exotic currencies. These take effect from 30 March 2021 inclusive.

Primarily it’s the Middle Eastern currencies that have seen an increase as they were very low and, in many cases, less than half of our USDNOK spread. A few others, such as TRY and MXN have been decreased.

The spread for exotic currencies is now grouped as follows for a better overview:

Middle East (e.g. AED, QAR, OMR, SAR, KWD etc.) = approx. 1%
The least liquid/less available currencies (e.g. PHP, INR, IDR, KRW etc.) = approx. 2%
All others = approx. 1.5%

Foreign labelling to be discontinued

DNB will be discontinuing the foreign labelling service for DNB accounts with outgoing payments via other banks’ payment solutions from 1 April 2021.

The DNB customers and the banks that this concerns have already been notified, and we’ll get in contact directly with the banks that need to deactivate the ability to debit DNB accounts from their payment solution.

Please note that this doesn’t apply to currency accounts at DNB that have been opened for the partner bank’s customers.

Phasing out of foreign currency cheques from 30 September 2021

DNB has decided to phase out the redemption of currency cheques from 30 September 2021. Since cheques are rarely accepted as a form of payment in many countries, and especially in the Nordic countries, DNB wishes to discontinue this service. The reasons for this include a large number of false cheques, a lack of cheque clearance services, and compliance grounds such as tax evasion and money laundering where we and other banks have considerable liability. This leads to time-consuming and manual processes whereby cheques must often be sent to debt collection before the beneficiary receives their money. In addition, the volume of cheques is now so low that the costs of operating this solution in a secure way exceed the revenues.

There will probably be a period in which a number of our customers who continue to receive cheques, especially from the US. We’d recommend customers to get in touch with the companies sending the cheques to inform them that this is no longer a valid form of payment to Norway and to provide them with the bank details (IBAN and BIC) so the money can be sent as a SWIFT payment (Wire transfer in the US).

To help with this, DNB has created a draft notification that can be sent to the cheque issuer by those who receive cheques from abroad:

Dear Sir/Madam
Check fraud and money laundering is an increasing problem for banks and their clients. It’s becoming increasingly difficult to find banks that can settle checks in Europe. This together with declining volumes and a large degree of manual handling has resulted in a letter from our bank telling us that they no longer want to redeem checks from abroad.
Checks received before September 30, 2021 will be redeemed but we request that future payments are made by wire:
Customer
Customer address
Bank account no: xxxxxxxx
BIC code: DNBANOKK

Internal information for the Partner banks - the situation in Ukraine

As a result of the Russian invasion of Ukraine on 24 February, there are many questions about international payments. The situation is extraordinary and complex, and DNB is following it carefully based on the available sources.

Sanctions have been imposed on Russian individuals, companies and banks, by the US, EU and the UK. Further sanctions will expected. Trade with Russia and Ukraine may therefore be very challenging going forward and the rules and legislation are changing from day to day.

There have been reports of extensive cyberattacks against Ukrainian banks. DNB does not know whether Ukrainian banks’ infrastructure is capable of receiving money, or if they have been paralysed by the attacks. In the event of a further invasion of cities such as Kyiv, Ukrainian banks may come under Russian control. No one knows how this will affect transactions to Ukraine. Due to the uncertain situation in the country, the risk of imposed sanctions and ongoing cyberattacks on Ukrainian banks, it is very uncertain whether payments to recipients in Ukraine will get through. Moreover, it is not possible to send money to or from the following areas: Crimea, Sevastapol, Donetsk and Luhansk.

With the current situation, banks and payment systems may be restricted in such a way that your business is at risk of not being paid for products or services you have delivered. Correspondingly, it can be challenging to execute payments to recipients in Russia and Ukraine, and the same applies to transactions from these countries to Norway. DNB has many correspondent banks in order to carry out international payments, and all of these banks make their own independent assessment of the risk. DNB therefore cannot guarantee that payments that are initiated in the online bank will get through. The transactions can be frozen en route, and it can take time before the money is returned.

Norwegian banks cannot execute transactions that are subject to international sanctions. It is their customer’s responsibility to assess the sanctions risk for their own business. The bank’s customers must have the necessary knowledge of the sanctions and export control rules and legislation when operating in countries subject to restrictions. If the customer is in doubt, they must seek legal advice from a lawyer or auditing firm with expertise in sanctions. You can also get in touch with the Ministry of Foreign Affairs for guidance.

More general information from DNB on the sanctions regime can be found here:
These are the rules that apply for sanctions - DNB Nyheter (DNB News)

Useful pages on international sanctions:

News - EU Sanctions (europeansanctions.com)
Press releases and statements - Consilium (europa.eu)Restrictive measures (sanctions) | European Commission (europa.eu)Ukraine-/Russia-related Sanctions | U.S. Department of the Treasury
UK sanctions relating to Russia - GOV.UK (www.gov.uk)

If you need further information, e.g. relative to executing specific transactions, please contact us at: iat@dnb.no leave your contact details and we’ll get in touch as soon as we can.

Customer communication

Suggestions for customer communication

A suggestion for customer information has been provided by DNB, Financial Institutions Section, which can be used by the individual bank. This is a suggestion from DNB FI which the individual bank must assess before potentially sending out to customers from the individual bank;

Due to the ongoing conflict in Ukraine, there are major fluctuations in the foreign exchange markets and uncertainty related to payments to and from Russia, Ukraine and Belarus. During this ongoing situation (Bank) cannot guarantee that payments, regardless of the currency, reach recipients in these countries. A significant number of sanctions have been imposed by the US, UK and EU on individuals, companies and banks and further measures are expected. There is a risk that outgoing and incoming payments may be rejected or frozen. We always comply with the currently applicable sanctions regime and transactions that are subject to sanctions will not be executed. As a customer, you must therefore evaluate how critical it is to make payments now. We also wish to make you aware that you have an independent responsibility to assess whether payments and shipments of goods are in line with the prevailing sanctions regime. You will find more information about this on the Ministry of Foreign Affairs’ website.

The Partner Bank Portal

Latest news

Internal information for the Partner banks - the situation in Ukraine

Useful pages on international sanctions:

Customer communication

A suggestion for customer information has been provided by DNB, Financial Institutions Section, which can be used by the individual bank. This is a suggestion from DNB FI which the individual bank must assess before potentially sending out to customers from the individual bank;

See also

DNB Asset Management

DNB’s sustainability and corporate responsibility initiatives

DNB Developer

DNB Bank ASA - Wolfsberg CBDDQ (PDF)