Costs, Money and Banking – University of Copenhagen

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International students > Arriving and Living in Copenhagen > Costs, Money and Banking

Costs, Money and Banking

Living Costs

These are rough estimates of what it costs a single person to live in Copenhagen:

  • Housing: typically DKK 3,000 - 4,800 /month (Exchange student housing)
  • Board:  DKK 1,500 - 2,000 /month
  • Books and other study materials:  DKK 1,500-2,000 /semester
  • Local public transportation: Price list. A fare will typically be of 2-3 zones. Students who use public transportation every day will usually buy a travel pass of 30-365 days. 
  • Estimated pocket money DKK 2,000 /month

To save money, we recommend that you consider buying a used bicycle or rent one, which you can get for around DKK 800-1,500. You may also wish to check the University Post list of places to get cheap or free stuff.

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.

Money and Banking

The Danish currency is the krone; 1 krone equals 100 øre. It is easy to convert a wide range of currencies and travellers' cheques in Denmark but it can also be quite expensive as Danish banks charge a fee for this type of service. Well-known international credit cards are widely accepted, but as they might be inconvenient for every-day shopping, you might consider opening a Danish bank account and get a Dankort (Dan-Card) or credit card with the Danish bank.

Dankort is a debit card that is accepted everywhere except perhaps in very small shops that only take cash. Note, however, that you may be required to show documentation of your financial means or a steady income to get the card. To open an account and get a debit card, you must remember to bring your cpr-number, which is printed on your Health Insurance Card. It is also a good idea to bring copies of your passport, your Letter of Admission and your housing contract, as you may be asked for these documents. Note that Danish banks are closed on Saturdays and Sundays.