What to do with the bank, insurance, and pension when leaving Denmark?

keep your bank account open when leaving Denmark Photo by Rob Bye on Unsplash

Keep your bank account open.

Bank account
You should not close your Danish bank account right away, especially if you forgot to close your mobile subscription or are expecting a tax return. Wait at least a couple of months and up to a year before closing it permanently; however, you must notify the bank that you are moving out of Denmark.

TransferWise is a great app to use if you’ve saved up a lot of money. While you will have to pay rather high fees to transfer money through the bank, TransferWise offers cheaper options.

Insurance and pension
At the same time you should contact your insurance company to cancel your insurance. If you have a case going on with them make sure they speed it up so you don’t have to think about it when you are in another country. Also, ask them about insurance coverage in connection with your relocation.

You can have your pension paid out abroad if you no longer live in Denmark. Contact your pension company, fund, and financial institution if you need to know more.

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