Money matters

Arrangements with your home bank

It is suggested that you make arrangements with your home bank to allow you to draw money from your existing account while in Denmark. In discussing the use of your home bank the most important feature for you to consider will be the cost of making withdrawals in Denmark in Danish Kroner and ensuring that you pay as little in commission for the transactions as possible.

In making your financial arrangements ensure that any "plastic" you choose has a PIN access code and is not dependent on a signature. This single feature will ensure ease of access to your funds as almost all shops and many kiosks have a banking type facility for cash withdrawals provided you buy something no matter how small.

Opening a bank account in Denmark

To open a bank account and get a debit card, you must bring your Health Insurance Card with your CPR number. You may also be asked to show your passport and your Acceptance letter to Niels Brock.  In most cases it is free of charge to open an account, but ask the bank for advice about the different options and the costs associated with them.

Most Danes have a Dankort, a debit card, which can be used in almost every shop in Denmark. You can get a Dankort, if you have a Danish bank account.

Foreign credit cards

Foreign credit cards, e.g. Visa, MasterCard, Euro-card and American Express, are widely accepted in Denmark, but generally not in the supermarkets. You may also withdraw money from cash points/ATMs outside most banks with a foreign credit card.

Opening hours in banks

Mon-Wed  10:00-16:00
Thurs 10:00-17:30
Fri 10:00-16:00

Note that Danish banks are closed on Saturdays and Sundays.

Currency

Denmark is not a member of the EU Monetary Union and the Euro is therefore not the currency used.

The Danish currency is Danish kroner (DKK) (100 øre = 1 DKK)
Denominations of banknotes are: DKK 50, 100, 500 and 1000.
7,47 DKK equals 1 Euro.

Tipping

Be aware that tipping is only customary in Denmark when service has been particularly good. Taxi fares and restaurant bills include service charges and therefore you are usually not expected to add extra to that.

Post offices

You can post letters, parcels and packets, pay most bills and send faxes at post offices. 

Opening hours are generally: 
Mon-Fri 10:00 – 18:00
Sat 10:00 – 12:00

Living expenses

It is suggested that you budget on having to spend at least 850 Euro per month taking care of your personal needs for accommodation, food and local transportation. Naturally this depends on individual spending habits and type of accommodation.

Accommodation 450 - 500 Euro per month
Personal expenses 400 - 500 Euro per month

Saving money

• In Danish libraries you can borrow books, CDs, movies, etc. for free. • Student discounts: your student card entitles you to discounts at many museums, some shops, hairdressers, cafes/restaurants etc. • Many museums are free to enter on Wednesdays/Sundays.   • When booking train tickets in Denmark you can take advantage of “orange tickets”. These must be booked and prepaid online.