Can I buy Crypto on Arbejdernes Landsbank?
No, you can not purchase cryptocurrencies directly on the AL banking platform. This is because AL bank has not acquired the appropriate licenses to operate a cryptocurrency investing feature on their platform. Not to worry, you can still buy cryptocurrencies with the funds in your AL bank account.
You simply need to create an account on a trusted cryptocurrency investing platform and link your bank account to buy cryptocurrencies. We recommend using eToro, it is a secure, regulated and licensed cryptocurrency exchange that has been operating since 2007. It offers a variety of financial assets including stocks, commodities, currencies, ETFs and indices.
How to buy Crypto with Arbejdernes Lands (AL) Bank
If you would like to buy cryptocurrencies with your AL bank account, you will need to go through eToro. Follow the below steps to begin trading cryptocurrencies, stocks, commodities and more.
Step One: Sign up to eToro, verify your identity and complete the questionnaire.
Step Two: Select ‘Deposit Funds’ then choose ‘Bank Transfer’ as method and enter the amount of EUR you want to deposit.
Step Three: Shortly you will be redirected to this banking page, simply copy their details into your AL banking app and transfer the funds. Bank transfers can take approximately 4-7 business days to be processed from the time of transfer.
Step Four: Once your funds have arrived into your eToro account, visit the home page and search for the cryptocurrency you wish to purchase and select ‘Trade’.
If you don’t want to wait 4-7 business days for your deposit to be processed, you can deposit funds via debit or credit card instantly. To deposit via card, simply select ‘Credit/Debit Card’ under ‘Deposit Funds’.
AL Bank Crypto Fees
When purchasing cryptocurrencies from AL Bank on an exchange, it’s important to remember the fees involved. There are typically two fees when buying cryptocurrencies, the deposit and trading fee. Some crypto exchanges charge more than two depending on their policies.
- Deposit Fee - This is the fee you’ll be charged when you deposit EUR on the platform, however eToro offers free EUR bank and credit/debit card deposits.
- Trading Fee - This is the fee charged to execute a trade, eToro charges a flat 1% fee on trades. The fee gets lower the more you trade, outlined in their fees schedule.
Overall, on eToro you will pay 1% of your investment in trading fees to use the eToro platform.
What is Arbejdernes Landsbank?
Arbejdernes Landsbank is a leading Nordic bank with deep roots in the Danish society. The bank was founded in October 1871 by a group of Danish workers with the aim of creating a bank for the workers - "By the workers, for the workers". Today, Arbejdernes Landsbank is one of the largest banks in Denmark with more than 700,000 customers and approx. 3,500 employees. The bank offers a wide range of financial services for both private individuals and businesses.
Arbejdernes Landsbank has always been a bank for the people. The bank's mission is to create value for its customers, shareholders and employees. Arbejdernes Landsbank strives to be the most customer-centric bank in Denmark and to create unique customer experiences.
The bank is headquartered in Copenhagen, Denmark. Arbejdernes Landsbank has branches in all major cities in Denmark as well as a large number of smaller towns. The bank also has a wide range of ATM's and online banking services. Arbejdernes Landsbank is a part of the international banking group, Nordea.