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Overview

Description

Lunar is a Nordic digital challenger bank offering modern mobile-first personal and business accounts, loans, investments, and cryptocurrency trading without physical branches.

General Info

Address
Hack Kampmanns Plads 10, 8000 Aarhus C, Denmark
Phone number
+45 70 60 54 54
Identification number
CVR: 39697696
CEO
Ken Villum Klausen
COB
Ken Villum Klausen
Email
support@lunar.app
Full name
Lunar Bank A/S
Name
Lunar
Website
https://www.lunar.app
Social Media
SWIFT code
LUNADK22XXX
Year of foundation
2015

Overview

Features
Cryptocurrency exchange, Expense Management Tools, International Transfers, Overdrafts
Supported languages
Danish, English, Norwegian Bokmål, Norwegian Nynorsk, Swedish
Mobile App
iOS, Android, Web
Commissions
Low
Products
Loans - Consumer loans, Time Deposits, Trading accounts
Crypto-Friendly

Risk Acceptance Level
Low risk
AML Tolerance
Low
Account Currency
DKK, EUR, GBP, NOK, SEK, USD
International Transfers
SEPA, SWIFT, SEPA / SEPA Instant
Card Networks / Card Schemes
Mastercard, Visa
Company Type
Bank, Digital Bank
Customer Segment
Legal Entities, Individuals
Business focus
Digital Banking, Card Issuing, Cross-border Payments, FX, Open Banking
Country of registration
Denmark
Regulators
Danmarks Nationalbank, FSA
Authorities
FSA
License type
Retail and Commercial Banks

Area served

Europe
Denmark, Norway, Sweden

Pros & Cons

Pros

  • Instant Virtual Cards. Instant issuance of virtual cards right after opening an account or in just a few clicks

  • Remote Account Opening. Ability to open an account entirely online (including video verification) without visiting a branch. Crucial for non-residents

  • Multi-Currency Accounts. Ability to open and conveniently manage accounts in different currencies within a single dashboard

  • Fast International Transfers. Fast processing of international transfers (SWIFT, SEPA, etc.) with minimal delays

  • Cashback & Rewards. Loyalty program offering high cashback percentages or bonus miles on purchases

  • Crypto-Friendly Policy. Favorable stance on cryptocurrency transactions, with no account freezes for P2P transfers and exchange transactions

  • Zero Account Maintenance Fees. No monthly account maintenance fees (with no hidden conditions)

  • High Savings APY. High interest rates on savings accounts and deposits

Cons

  • High Card Issuance/Delivery Fees. Expensive fees for physical card issuance or delivery (especially international)

  • No Remote Onboarding. Inability to open an account remotely, requiring mandatory personal presence at a bank branch

  • Hidden Fees & Commissions. Presence of non-obvious fees (for bank statements, account inactivity, SMS alerts, etc.)

  • Low Interest Rates on Deposits. Extremely low, near-zero interest rates on deposits and savings accounts

  • Slow Customer Support Response. Slow customer support service, long response times in chats, or extended waiting times on the line

  • Strict Account Minimums. Requirement to maintain a high minimum account balance to avoid penalties or fees

  • Strict Crypto Restrictions. Strict policy regarding cryptocurrencies: account freezes for transactions related to crypto or P2P

  • Expensive International Wire Transfers. High fixed fees or unfavorable exchange rates when sending or receiving international wire transfers