Exchanging Money in Norway Is Almost Robbery

Bergen's daily newspaper, BT featured the experience of a Norwegian man named Erik Mykkeltvedt, who would like to convert Norwegian Kroner to Euro.

Mykkeltvedt's daughter would get 200 euros for a trip and he went to a bank branch to convert from NOK. For 200 euros, Sparebanken charged 200 NOK as commision fee from him.

The furious Mykkeltvedt thinks the fee is too high and says the banks should provide service, not rob the custimers.

He suggests the fees should be same as the fees for withdrawals at ATMs.

– Most banks have a price differentiation for their own customers and others when it comes to currency exchange. Most people take out currency even from ATMs or using cards abroad when they are traveling, and that is what we recommend, says Lars Ove Breivik, Head of Sparebanken to

Be careful about different pricing by differnt banks

While converting your money, banks apply different pricing systems.

While some banks have different fees for their customers and others, some have different prices for small and larger amounts of money. If you use your own bank, you can have a better pricing.

– I think the fees should remain at the same level with withdrawals from ATMs. We Norwegians do not always have to face it, but the tourists to exchange money are robbed all the time and this is totally crazy, says Mykkeltvedt.

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