Financial advice before moving to Denmark

It has become increasingly difficult to avoid negative interest on bank deposits.

Independant financial advisers can be found everywhere in Denmark, also in Aarhus. Search for Uafhængig økonomisk rådgivning

E.g.
https://www.finanshus.dk/om-finanshuset-i-fredensborg/https://bofinans.dk/aarhus/

I take that Deloitte, Ernst and Young etc. may also offer that kind of advice.

When found, look the firm up on Trustpilot.
https://dk.trustpilot.com/

Since your company is hiring expats, I take that it may also be able to help you with advice in some way, at least could recommend you an adviser who specialises in international matters with focus on Danish conditions.

/Nellie

Thanks Nellie!

My company does provide relocation assistance so I will try to ask for some advice from the consultants.

I kind of doubt that they will provide full financial advice service regarding money transfer, savings account etc., so I'll definitely check out the links you sent.

Thanks so much again!

/Kostya

@canuck_kp do you have any updates or luck with your transfer? I might be in a similar situation in a few months. Thanks

I did a few transfers using the Wise service. Doing a wire transfer from a Canadian bank is possible too and in my case costs around $50, but the exchange rate is really bad. So on large amounts the hassle of going through Wise is definitely worth it.

With negative interest rates the situation is not too attractive. In a typical bank any deposit in excess of 100k dkk/person will be charged a negative interest rate that was I think changed to -0,7% just recently. There doesn't seem to be any bank product that would allow you to avoid this negative rate in short run - you'd need to be looking into  some sort of investment portfolio with 3-year horizon to have positive interest.  I'm still exploring the options here so can report back in a little bit.


PS. If you can avoid it, don't use a bank draft or any form of a certified cheque in paper form to bring money to Denmark - I did and it took 1.5 month to get the money deposited on my bank account here.

Cheers