
Hello r/norway,
I have a Norwegian banking question. I am American, my wife is Norwegian, we are currently based in Oslo. Next year we will temporarily relocate to another country that has a cash economy, so we want to change our personal banking a bit. Can anyone tell me:
\- Does any Norwegian bank offer a personal checking account that offers full reimbursement for all foreign ATM fees and does not charge any foreign transaction fee by percentage? We have these in the US (e.g.: [https://thriftytraveler.com/reviews/credit-card/atm-fees-charles-schwab-debit-card/](https://thriftytraveler.com/reviews/credit-card/atm-fees-charles-schwab-debit-card/)), I’m wondering if there is any equivalent in Norway.
\- Do any Norwegian banks offer high yield savings accounts (in excess of 4% annual percentage yield)? Again, this is a something we have in the US (e.g. [https://edition.cnn.com/cnn-underscored/money/capital-one-360-performance-savings-account-guide](https://edition.cnn.com/cnn-underscored/money/capital-one-360-performance-savings-account-guide)), and I’m looking to locate a Norwegian equivalent.
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The idea here is that we would keep most of our cash reserves in a high yield savings account and periodically transfer money as necessary to our checking account, and then use the debit card associated with that checking account to withdraw cash free of any fees (the savings account and checking account do not need to be with the same financial institution).
This is how I would do it using US financial products/services, but if there is a better way to do this in Norway, please do let me know. Thanks very much.
by sharqskinsuit
1 comment
I’m not sure what the best way to go would be in terms of fees on cards, but I can tell you for sure that you won’t find a savings account with 4%+. If you need an account you can transfer money freely from with no strings attached it looks like 3.4% is the best you can do and I would not expect that interest rate to stay for years to come.