Basically, selecting Lunar as a first bank is a no-brainer, really.
Its key points:
It's FREE. The standard account costs nothing per month. You get an account, a card, and a great app without paying any annoying fees, which is perfect when you're on a student budget.
Super fast setup. You can create your account directly from your phone in just a few minutes. No need to book a meeting at a physical bank – just use your MitID and you're good to go.
It’s a real bank account. You can get your salary from your part-time job or your SU paid directly into your Lunar account. It works perfectly as your NemKonto (account linked to receiving salary etc.).
So yeah, it's free, completely digital, and does everything you need in an instant. (it's not sponsored don't worry)
Its downsides:
Low (or no) interest on savings. On the free "Light" plan, you won't be earning much, if anything, on the money in your account. Other banks might offer a better interest rate.
100% online so no physical credit card. You get a digital card for free, which is fine for online shopping and paying with your phone (Apple/Google Pay). But if you want a plastic card to keep in your wallet, you have to pay a one-time delivery fee for it (around 59 DKK)
Fees for cash withdrawals. Need to pull out cash from an ATM? With the free plan, it'll cost you.
There's a daily and monthly cap on how much cash you can withdraw and how much you can spend on the card. For day-to-day student life, it's probably fine, but for a big purchase like a new laptop or a flight ticket, you might hit the limit. Can be changed in the app tho
It is an app available on both Android and IOS. You can set it up and receive salary on it.
Payment types in Denmark
In Denmark, you can pay for almost everything with your phone. But there are some payment types that are more common than others.
Most common payment types:
MobilePay - A true ruler. The most popular payment app in Denmark. You can use it to pay for almost anything, from groceries to rent. You just need a mobile number and a bank account to get started. It's super easy to use, and you can even send money to people who don't have the app.
Dankort - The Danish debit card. It's accepted almost everywhere and you can use it to withdraw cash from ATMs.
Credit cards - Visa and Mastercard are the most common credit cards in Denmark. They're accepted almost everywhere, but you might need to pay a fee for using them.
So in short, you can pay for almost everything with your phone. I don't even have physical credit card and never felt like I will ever need it.
Klarna
Klarna is a payment service that allows you to buy now and pay later. Total consumptionism final boss. It's available in many online stores, and it's super easy to use.
How it works:
You can choose to pay for your purchase in full or in installments.
If you choose to pay in installments, you can select the number of months you want to pay over.
Klarna will then send you a bill for the amount due each month.
It's a great way to spread out the cost of a big purchase, and it's available in many online stores. I know its not Denmark exclusive, but many people don't have it in ther countries.
All about Mobilepay
MobilePay is a mobile payment app that allows you to send and receive money instantly. It's super easy to use, and it's available for both Android and iOS.
Honestly, you pretty much need this app to live in Denmark. Think of it as your phone's magic wallet. It's what everyone uses to:
Split a bill: Pay your friend back for pizza or beers instantly.
Pay in stores: Buy coffee, groceries, or stuff at a flea market just by swiping on your phone.
Shop online: It's often the easiest checkout option online.
You just link it to your bank card, and then you can send money to anyone using just their phone number. Super simple, no more messing around with cash or long account numbers.
How to get it (The simple checklist)
Getting set up is quick, but you need the right stuff. Here's all you need:
Your phone, obviously: An iPhone or Android that can download the app.
A Danish phone number: This is like your MobilePay username; it's how friends find you.
Your CPR number & MitID: This is the boring but important part. They use it to confirm you're actually you and keep things secure. You can't get it without these.
A Danish bank account & card: The app needs to connect to your card (like a Visa or Mastercard) to send and receive money.
Be at least 13 years old.
How it works:
You can link your bank account or credit card to the app.
You can send money to anyone with a Danish phone number.
You can also receive money from anyone with a Danish phone number.
It's a great way to pay for things like rent, groceries, and bills. It's also super convenient for splitting the bill with friends.