Living costs, currency, opening a bank account

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Living costs

It is difficult to say exactly how much money you need per month - it very much depends on your expenses for accommodation and your lifestyle.
A minimum monthly budget could be:

Housing: 2,700 DKK
Food, clothing etc: 2,200 DKK
Transport: 500 DKK
Others: 600 DKK
In all: 6,000

At the beginning of your stay, you must foresee extra expenses for books (approx. 250 EUR), accommodation (3 months’ deposit + first month’s rent).

Currency

The Danish currency is Danish Kroner and Danish Øre.
One Krone                       = 100 øre.
One Euro                         = approx. 7,45 kr
One dollar                        = approx. 6 kr

Opening a bank account

It is possible to withdraw money from your personal bank account in your home country while being in Denmark. However we strongly advise you to make sure that your home bank does not charge you a big commission each time you make a withdrawal.

It is also possible to open a bank account in Denmark once you have gotten your CPR number. Please note that you will need your passport to open an account (ID card will not work). Also, some banks require a fee in order to open some types of accounts. Remember to specify that you are a student and you need the cheapest option.

Bank opening hours are:

  • Monday, Tuesday, Wednesday, and Friday: 10am - 4pm
  • Thursday: 10am – 5:30pm
  • Saturday, Sunday and Holidays: closed