Retail customer agreement terms and conditions

Here you’ll find the current terms and conditions for our products and services.

On 1 January 2023 a new financial agreement law came into effect in Norway. Among other things, the law aims to give you even stronger consumer protection and prevent debt problems.

Terms and conditions will primarily be available in Norwegian for the moment.

Account

Account agreement - consumer terms and conditions (PDF)Open the file in a new tab

Account agreement, general terms and conditions for deposits and payment services (PDF)Open the file in a new tab

Managing account via online bank etc. – consumer e-bank (PDF)

Cards

Payment card - debit card (PDF, file.anchor.en.label)Open the file in a new tab

Mastercard (PDF, file.anchor.en.label)Open the file in a new tab

Loyalty programme

Mastercard SAS EuroBonus (PDF)

Insurance

DNB Mastercard - Travel Insurance (PDF)
The compensation amounts may differ somewhat depending on the customer relationship with the bank.
Payment insurance for consumer loans and credit cards (PDF)
Notice of cancellation rights for non-life insurance (PDF)
Notice of cancellation rights for personal insurance (PDF)

Loans

Consumer loan

Online bank and payment services

AvtaleGiro (PDF)Open the file in a new tabOnline portal agreement DNB (PDF)Open the file in a new tab

Mutual funds and savings

Share savings account

Shares, stock exchange and currency

Prices, terms and agreements for equity trading

Pension and savings products from DNB Liv

Link Annuity fact sheet (PDF)

Link Pension Spar (Individual Pricing Source (IPS)) terms and conditions (PDF)

Insurance Terms and Conditions Paid-up policy with investment options (PDF)

IPS - Individual Pension Savings

IPS – Individual Pension Savings (PDF)

Notice of cancellation rights

Notice of cancellation rights (PDF)

General

What do all the changes in the law mean for me as a customer?

Will my appointments continue as before?

The new law applies to both new and existing agreements. This does not mean that existing agreements must be concluded again, but some rules in the new law may take precedence over contractual provisions if these are not in accordance with the law.

Current agreements are still valid. This means that your agreements with DNB or the financial company still apply, but that the agreements and conditions may be updated. You will be notified of such changes.

Do I have to sign new agreements in order for the new rules to apply to my agreements?

What should I do if I do not accept a notified change in the terms of the agreement?

Why am I getting new terms and conditions?

What is the digital first choice?

The Financial Contracts Act implements “digital first choice”. This means that the bank or financial institution can use electronic communication when they send you messages about your customer account. Customers who do not want to have electronic communication can opt out of having messages and notifications sent electronically by contacting the bank.

The customer can also manage their own consents and reservations under settings in the online bank. If you have already agreed on the use of electronic communication, the communication will continue as before. This means that the bank will normally communicate with you in online banking or the mobile banking app.

You may also be notified, for example by text message, that you have received a notification. If you have opted out of electronic communication, it will continue as before.

You can find more information about this in the Account Agreement, general terms and conditions for deposits and payment services in Section 2 and Account Agreement Consumer Terms and Conditions, Main Document A in Section 5.

Cancellation, termination and liquidation

Under which circumstances can DNB terminate the agreement with me?

Both the customer and DNB can terminate the agreement in the event of a material breach by the other party. The account agreement has been amended to emphasise that DNB can also block services by cancellation. The new law also specifies some cases that will always be considered a material breach by the customer. The account agreement has been amended so that these cases in the law are set out in the terms and conditions, and these include:

The customer has intentionally withheld or falsified information or necessary documentation.
Bankruptcy or debt negotiations under the Norwegian Bankruptcy Act have been started with the customer.
The customer has clearly acted in violation of fairness and good faith. In these circumstances, other companies in the same group as the bank can cancel their agreements with the customer, if this is objectively justified.

Other conditions can also be considered a material breach. Your right to notice, justification, information about the effects and a deadline of two weeks have been included in the terms and conditions. DNB may block and/or terminate the agreement with immediate effect in the event of a justified suspicion of illegal use.

See, among other things, the Account Agreement, general terms and conditions for deposits and payment services, point the Account Agreement Part B general terms and conditions, Sections 31, 32 and 33, Payment Card Debit Card, Section 13 and Mastercard, Section 35.

Credit card and Mastercard

Will my debit card and Mastercard work as before?

Under which circumstances can the bank block my card?

DNB will block your card if you contact us to report a loss or theft. In addition, DNB can block the card if security weaknesses are discovered or if it is suspected that the card may be subject to fraud attempts or other unauthorised use.

If the credit card is linked, DNB can also block the card if there is a significantly higher risk that the customer cannot fulfil their payment obligation. DNB can also block the card if there is a risk that the card may be misused by you or other people, or in the event of the customer’s death, bankruptcy or in the event of termination, cancellation or liquidation.

See Payment card-debit card item 5 and 17, Payment card children and young people item 7 and 17, and for Mastercard under items 10, 23, 28 and 36.

Credit

Is it correct that I can deny DNB from raising my home mortgage interest rate?

The new law gives you the right to reject notified changes, such as changes in interest rates or fees. This rule applies from 1.7.2023. If you disagree with a notified change, you can terminate the agreement at any time – such as the loan.

It is important to note that if you send in a formal rejection, as the law allows, DNB can terminate the agreement. If, for example, you reject an interest rate increase on a home mortgage, and DNB goes for termination, you must settle the entire home mortgage within a short period of time.

If you don’t manage it, it can lead to additional costs and problems for you and any co-borrower and reallocation manager.

If you have any questions about a notice of an interest rate change or other change to the agreement, we recommend that you contact us on 915 04800.

What kinds of explanations must DNB give me before I sign a loan agreement?

In the case of credit agreements, DNB is obliged to give customers some explanations before an agreement is entered into/signed. This is in addition to any other information given.

The information includes:

the most important features of the credit agreement offered
the significance of any terms and conditions for additional services
consequences of default.

The explanations may be given in different formats depending on how and where the agreement is entered into. This can happen both verbally and in writing, including digitally.

How can I find out why my consumer loan application has been rejected?

Is it more difficult for couples to get home mortgages together?

Will my consumer loan work as before?

Does the cooling-off period also apply to consumer loans (and credit cards)?

I have signed before the 7-day cooling-off period, can I change my mind?

Complaints

Where can I find information about DNB's complaint handling procedures?

What happens when I complain about an unapproved payment transaction?

If you believe a payment transaction has not been approved by you, you can file a claim with us. The complaint is made through our established complaints process.

We will normally return the amount to you before the end of the next working day. Even if the amount has been returned quickly, this does not mean that your claim has been completed. We will contact you when the case is processed, if you are responsible for all or part of the amount.

Does DNB have a deadline for handling complaints?

We will respond to you in writing, in clear language, as soon as possible. If we have not responded to you within 15 working days after we have received your complaint, we will send you a preliminary response with information on the reason for the failure to respond and when you will receive a final response from us.

In exceptional cases, which are beyond our control, it may take 35 days before you receive a reply from us. Please note that this does not apply to complaints related to industry.

As a customer, do I have a complaint deadline I must observe?

Yes, you must submit a complaint as soon as possible and no later than within 13 months. The terms and conditions give you more information about this. The deadline is the same for account transactions and card transactions.

See the Account Agreement, General Terms and Conditions for Deposits and Payment Services Section 26 and Debit Card Consumer Section 16, Debit Card Children and Young People Sections 16 and 24, and Mastercard Section 26.

If you would like more information, Finance Norway has created an overview of what the new Financial Agreement Act means for you as a customer.