Danish Currency: Danish Krone

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 April 2020 is:
1 US$ = 6.90  DKK      1 UK£ = 8.53 DKK     1 EUR = 7.4 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 20kr and 10kr are golden and have no holes in them. The other 3 coins  5 , 2 and 1 kr. all have a hole in them, are silver and are in ascending size. 1 kr the smallest and 15kr the largest.  See chart below.

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 most 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 an indbetalingskort or invoice for a service. What is an indbetalingskort. An indbetalingskort 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 above.

The indbetalingskort has two parts. One part is your receipt and the other part is for the bank or post office. When you get a kort you take it to your bank (if you can find a branch that is open) or post office (Many post offfices as of September 2014 are longer handling such payments) and pay by using your DanKort or taking money directly from your bank account. Nowadays it is most common to use your online banking to pay your bills.  Only in major cities can you find a bank or post office willing to do this service, but it does still exist in some places.

Most indbetalingskort will already be prefilled with all the information, but check to make sure the information is correct before paying. The information should include your name and payment details. Your name should be 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 indbetalingskort, 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 of the form 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 they are confusing, call your bank customer service and they will walk you through it. Once you have done it once or twice it is a "no brainer".

Remember Denmark is nearly 100% digital banking nowadays and there has been talk about doing away with all physical currency, yet it is still a few years until that happens.

Exchanging Danish Currency

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, yet many banks do not have physical branches, so they can be hard to find. 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.

Mobile Payments

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 short 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 and will soon be replacing Danish currency. 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, who display 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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