Banking and Finance


Living expenses for the average student in Aarhus are estimated at DKK 5,000 per month, including travel expenses. However, expenses vary depending on your own spending habits and your living situation.

The prices of housing, food, transport and leisure activities are relatively high in Denmark in comparison with many other countries. However, salaries are also relatively high, and many services such as medical treatment and schools are paid for via taxes and the Danish welfare system.

You can keep expenses down by borrowing school books from the library, cooking your own meals, shopping at discount supermarkets and looking out for sales and student deals. 


Although all major credit cards such as VISA, MasterCard, American Express, Euro Card and Diner’s Club are widely accepted in large stores and international chains, in smaller stores they often do not accept foreign cards. Please also note that Denmark uses the chip and pin system, so you must be able to type in a pin code when using your card at a cash machine or to pay for goods in a shop.  


If you are working in Denmark alongside your studies, you can also apply for a Dankort from your Danish bank. A Dankort is a Danish-only debit card and is the most widely used card in Denmark. This is often accepted in smaller stores where they do not take other types of credit/debit cards.  


Today, many types of payments are increasingly transferred electronically to people’s bank accounts. These include wages and salaries, cash payments, child benefits and pensions. Most people therefore have a bank account.  


Contact your local bank in order to obtain a credit card, which you can use in all cash dispensers in Aarhus. Be aware of transaction fees.  


It is really easy to convert travellers’ cheques in Denmark but it might be an expensive option as there is a substantial fee for cashing them. Most students only use travellers’ cheques to open a Danish bank account as personal cheques are not accepted.  


All students must set up a Digital Signature, otherwise known as NemID, during their time in Denmark.

NemID allows you to login at many public and private services on the Internet. Your NemID login remains the same regardless of where you use it. Whether you want to use your online banking or your municipality's online self-service to change your address or whether you need to get your annual statement from the tax authorities (SKAT), open your e-Boks, or fix your insurance - the way you log in is completely the same.

NemID consists of a user ID, a password and a code card with the "keys". When you log in, you type only your user ID and password and then a key from your key card.