Many entrepreneurs are facing difficulties when they apply for a business account in the bank. This is actually a huge problem, and something should be done politically.
The good news in this is that it’s not only affecting international entrepreneurs here in Denmark, so there is no bias or anything like that. It effects all also people who have lived I this country all their life.
The reason for alle these problems are a through legislation concerning money laundering that effects huge demands on the bank. Or in short, it costs the bank a lot of money to give you an account.
But what can you do?
Business plan and budget are mandatory.
The bank need information. You are new to them so describe your future business and your expectations and add all the documentations you can find.
Make you self an attractive client for the bank.
Move business to the bank. Move a car loan, move your private account, maybe the bank offers insurance, buy shares in the bank… Whatever will make you a more profitable customer.
Get recommendations!
Relationships still matter. So, if you know some one who can put in a good word for you, someone with an interest in your business (landlord, partners, suppliers etc.), that will sometimes do the trick.