Money and Banking – University of Copenhagen

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Money and Banking

Living Costs

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

Housing, including utilities: typically DKK 7,000- 10,000/month
Food and daily expenses: DKK 3,000 - 4,000/month
Books and other study materials:  DKK 1,500-2,000/semester
Local public transportation: DKK 380-1,000/month if you travel every day1
Leisure activities: DKK 2,000/month

1) To save money, we recommend that you consider buying a used bicycle, which you can get for around DKK 800-1,500.

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 (DKK). 1 euro is around 7.5 DKK. 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 weekends and public holidays.