It is a good idea to open a Danish bank account if you have to study here. If you want to have a job or even get SU, you will definitely need one.
Opening a bank account in Denmark
To open a back account you first need a CPR number, so start by getting that sorted out.
If you are wondering about which bank to choose, it’s a good idea to ask your fellow students for recommendations. They will know where the good deals are for students and which banks have great service and good online banking options.
Opening an account is pretty simple. Just bring your passport and national health insurance card to a branch of the bank you wish to open an account with.
You will still have to bring enough money or a credit card for the first few weeks of your stay in Denmark. You might need it for the deposit on your accommodation and other start-up expenses.
Make sure you can use your credit card in Denmark, it will be easiest if you have a card with a chip and a pincode, as those are the common type here, and check your cash withdrawal limit, so you don’t get any annoying surprises.
‘Nemkonto’ – the public payment system
You need to register your Danish bank account with the Danish tax authority as your ‘Nemkonto’ (translated: ‘easy account’).
This will make it possible for the public authorities to make direct payments to you – like wages, tax rebates or maintenance payments. It is mandatory for all foreigners with a CPR-number to have a NemKonto, so remember to talk to your bank about it when setting up the account.
Once it has been set up, it can be managed online as well.
Third-party liability insurance (‘ansvarsforsikring’) – which will cover expenses, if you have to pay compensation to another person.
Accident insurance (‘ulykkesforsikring’) – this will cover the financial consequences and related expenses of an accident.
Home insurance (‘indboforsikring’) – this is the insurance for your personal belongings and will protect you if there’s a break in or if your things are stolen.
Car insurance (‘bilforsikring’) – If you bring a car with you, make sure it is properly insured.
If you want to use the insurance in Denmark, contact some of the larger insurance companies. There might be good deals available through your bank or the trade union related to your field of study. Ask your fellow Danish students what they do.
And please purchase insurance even though it seems expensive. You never know when you might need it.