Nordea Bank Danmark A/S closes non-residents’ accounts

07.08.2014

 According to clients, bank Nordea started sending of informational letter about the chages in its strategy. In a letter bank states that in the future Nordea is planning to focus on the clients that have a connection with Nordea’s principal markets, i.e. Scandinavian countries.

The letter serves as three months notice of terminating customer’s accounts in the bank, which will happen at the end of the October. The changes in the bank’s politics as well as the new strategy with regards also to international branch emerged in the July, 2014.

Clients are strongly advised to seek alternative banking arrangements in order to be able to operate the relevant capital.

Source: http://www.nordea.com/

Expert’s opinion

 Unfortunately, due to the late international developments most of the banks try to secure themselves and terminate the customer relationship with non-residents. By loosing clients banks just want stay out of trouble. Especially it is true for the European banks. The news are obviously not so pleasing specially for those ones who work with Europe. Nonetheless, as we all know there is no such thing as desperate situation. There are European banks that are ready to work with non-resident and to open accounts for them. Besides that, there are alternatives in the form of Chinese and Singapore banks. It is our pleasure to offer these bank to you!

Alexandra Mikhno ( Lawyer, Honest&Bright)