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Payment systems

Danmarks Nationalbank plays a key role in connection with settlement of payments between domestic and foreign banks.

Practically all Danes are, directly or indirectly, in contact with payment systems on a daily basis. Every time someone uses a Dankort debit card, money is transferred from that person's account to the shop's account. If the shop uses another bank than the customer, the amount is transferred from the customer's bank to the shop's bank. Since Danmarks Nationalbank is banker to the banks, transfers from one bank to another are effected via their accounts with Danmarks Nationalbank.

Payments are settled in different systems, depending on the type of payment. A general distinction is made between gross and net settlement systems. Typically gross settlement systems are used for transferring large amounts between banks. In net settlement systems, payments between banks are compiled, and the net amounts owed between banks are calculated. A net amount is then calculated for each bank, and at a set time these amounts are exchanged.

Last update: 03/14/2014

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