Many people think that the Danish currency / Danish money is the Euro, but that is not the case.
At present the currency of Denmark is called the Danish Krone (DKK).
The exchange rate as of October 2014 is:
1 US$ = 5.86 DKK 1 UK£ = 9.53 DKK 1 EUR = 7.44 DKK
You can check current exchange rate here.
In most major cities, the Euro is also accepted in most shops, but you will get more for your money if you exchange your currency to the Danish currency - kroner instead of Euros.
The krone (kr) is broken into 100 ører. The coins are 50 ører, 1 krone, 2 kroner, 5 kroner, 10 kroner and finally, 20 kroner.
Note: The 25 ører coin was taken out of circulation in 2008 and can no longer be used.
The Danish notes are 50, 100, 200, 500 and 1000 kroner.
The krone is written kr. or DKK or Dkr.
When discussing the Danish currency / Danish money - krone is single and kroner is plural; øre is singular and ører is plural.
Most shops accept major credit cards if they are embedded with chip and pin. Swipe-type credit cards are getting harder to use, but they are still in limited use. If coming for a visit, try to bring a chip and pin credit card that can be used internationally, so you can avoid problems.
Most Danes use the Dankort, which is a debit card. When you open a bank account, you will be asked if you want a Dankort issued to you. You should get one, since it makes life so much easier.
Checkbooks are pretty much a thing of the past in Denmark. Banks do not issue them unless you specifically ask for them and even then many banks don't offer them.
When doing business in Denmark, you will find that most companies are using electronic billing and payment and you can easily avoid using any Danish currency on a daily basis.
You can even set your monthly payments to be automatically taken out of your account each month. It is called a "betalingsservice" and when you open accounts with companies (water, electricity, rent, etc.), you will be encouraged to sign up and use them.
Sometimes, companies will send you a giro for a service. What is a giro? A giro is a method of paying a bill using electronic banking. Companies will send them in order for you to pay your bill. See the example on your right.
The giro has two parts. One part is your receipt and the other part is for the bank or post office. When you get a giro you take it to your bank or post office (Many post offfices as of September 2014 are longer handling giro payments) and pay by using your DanKort or taking money directly from your bank account. If you have internet banking, you can pay online.
Most giros will already be prefilled, but check to make sure the information is correct before paying. If you need to fill it out yourself, make sure your name and payment details are correct. Your name goes in the upper left box where it says "inbetaler". It should have your name and complete address.
Along the bottom row there are two spots for putting in the correct payment amount. The business that is sending you the bill should already have filled out their information.
If you are using a blank giro, you need to insert the name of the company you are paying, including an invoice number.
If paying online, (see example above) you would put the number at the bottom on the giro into your payment form. It is usually a +71 number for most bills. There are also +01, +04, +15, +73 and +75 accounts. Now in the next box enter the number 2132492600 and the final box enter 82566171. Note it is not necessary to enter any 0s preceding a number sequence. Now confirm the amount and enter your codes to process it online. You will need to use the NemId system if paying online.
If giros are confusing, take it to your local post office or bank and a member of staff will help you complete it correctly.
It is always best to come prepared with some Danish money before arriving. You can exchange money at the airport. There are several banks at the airport, as well as exchange bureaus.
All banks in Denmark will exchange your foreign currency. You will need to check the exchange rates and maybe shop around for the best bargain.There are exchange places at the major train stations, along the shopping streets and in most popular tourtist areas.
The exchange rates are always displayed outside the bureaus. If you don't see them listed, avoid them! Compare them to the rates given here for the Danish currency.
Major hotels can also exchange money for you, but they give lower rates and charge higher fees. You're better off visiting one of the local banks during business hours, since they usually offer the best rates.
You can also get money from one of the zillion cash machines located throughout Denmark. (Okay not a zillion, but they seem to be everywhere!). Be aware that there is a service charge on all transactions done through cash machines and they are not posted on the machines, so you could get a nice surprise.
TIP If in doubt about the exchange rate, exchange enough danish currency to get around on and then check out the various bureaus as you sightsee. Make a note of the best rates, and also check their fees. There is usually a transaction fee on top of the exchange rate.
Learn more about the state of Denmark here.
The new and modern form of Danish currency is mobile cash, a system of paying for many items using your smart phone. Mobile pay is the most popular, yet there are others on the market now. Some stay and some are discontinued after a shot trial period. I would recommend using Mobile Pay which is under the Danske Bank umbrella and has pretty much taken the lead in this market.
Mobile Pay is an app and can be downloaded from google or apple. You do not have to have a Danske Bank account, but you do need a Danish bank account. Danske Bank is the largest bank in Denmark, yet as long as you have a Danish bank account, you can sign up for Mobile Pay.
The system is very easy. You open the app and sign in with your code. Than you put in the payers mobile number and the amount and hit send. Money is transferred automatically. This is also great for accepting payments. You will see many places, like flea markets, conventions, street vendors, shops and businesses dispalyed that they accept Mobile Pay. No need to carry cash or credit cards - just open your phone and you are ready to shop.
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Danish kroner Not rated yet
Perhaps also worth mentioning that a referendum was held in 2000 to replace the Krone with Euro, but it was voted away by 53% of the population.
Exchange Rate Euro for Danish Kroner Not rated yet
First, I wanna thank you about definitely useful information that helped me in my first stay in CPH. The tricky issue I wanna write about is the currency. …
Mar 17, 20 10:54 AM
Arhus or Aarhus (originally named Aros) is located in central Jutland and, as the second largest city in Denmark, it has a lot to boast about.
Mar 04, 20 08:36 AM
My son lived in copenhaguen since 3 years, but now he has to return to our country because family problems. What we have to do with his CPR number ? thanks
Feb 19, 20 01:05 AM
I am a danish citizen and my spouse is US citizen thinking about retiring to Denmark (not working) age 79 and 81 .How difficult would this be ?