Banks cited for not complying with basic account rules

The Danish Financial Supervisory Authority has emphasized that all citizens have the right to open a bank account to receive salary or public benefits after a review of nine banks found that five did not comply with the regulations. These banks include Coop Bank, Arbejdernes Landsbank, Sparekassen Sjælland-Fyn, Lån og Spar Bank, and Lunar Bank. Banks are required to offer basic accounts and provide reasons when denying account requests, yet some have failed to do so or inform customers about complaint options. Additionally, one bank unlawfully demanded a CPR number. A statement from last July noted similar regulatory non-compliance issues. Minister of Industry, Business and Financial Affairs Morten Bødskov expressed dissatisfaction with the banks’ failure to follow the law and highlighted ongoing government efforts to tighten regulations.