Changing your US dollars to Danish kroner in Denmark might sound as simple as strolling into a bank and handing over your cash. But—surprise!—there are a few hurdles, and the requirements can differ from what you might expect based on your home country or previous travel experience. This article breaks down exactly what you’ll need to show at the counter, why it matters, and how this process is shaped by both Danish law and international financial standards. I’ll throw in my own mishaps, some expert takes, and a side-by-side look at how Denmark compares to other countries, so you’re not caught off guard.
Let’s set the scene. I land at Copenhagen Airport, a bit groggy, clutching a wad of USD, thinking I’ll just pop by the first bank and swap some for kroner. I pick Danske Bank, stroll in, and immediately hit a wall: “Can I see your ID and proof of address?” the teller asks. Turns out, exchanging money in Denmark isn’t as anonymous or frictionless as you might hope, especially if you’re dealing with sums over a certain threshold (commonly DKK 1,000 or about $140—yeah, not huge).
Here’s what I learned, and what you should know before you try it yourself.
Screenshots? Unfortunately, Danish banks aren’t keen on allowing photos at the counter. But you can check the official documentation requirements on most major banks’ websites, like Danske Bank or Nordea. Here’s a snippet from Danske Bank’s own FAQ (translated): “We require valid photo identification and, for larger amounts, documentation for the source of funds.”
Funny side note: I once tried to use my US student ID, and the teller gave me a look that said, “Are you serious?”—lesson learned. Also, don’t expect to exchange currency at every branch; many smaller locations don’t handle cash at all anymore. Call ahead!
I called up a friend who’s a compliance consultant for a Scandinavian bank. She explained, “Since 2017, Denmark has tightened rules to meet EU-wide anti-money laundering (AML) standards. It’s not just bureaucracy—banks face huge fines if they mess this up.” The EU’s AMLD4 and Denmark’s own Anti-Money Laundering Act (Act No. 651 of 2017) set strict rules about identity checks and source of funds.
For more details, check the official Finanstilsynet (Danish FSA) guidance.
The World Customs Organization (WCO) also provides extensive resources on cross-border currency controls (see here).
Here’s a side-by-side comparison table of how different countries handle “verified trade” and anti-money laundering ID checks for currency exchange:
| Country | Legal Basis | Executing Agency | ID Required for Exchange? | Source of Funds Needed? |
|---|---|---|---|---|
| Denmark | Anti-Money Laundering Act (Act No. 651, 2017) | Finanstilsynet (Danish FSA) | Always | Yes, for large sums (>DKK 50,000) |
| UK | Money Laundering Regulations 2017 | FCA | Usually | Yes, similar threshold |
| USA | Bank Secrecy Act (31 USC 5311) | FinCEN | Often, especially for >$3,000 | Yes, for >$10,000 |
| Germany | GwG (Money Laundering Act) | BaFin | Always | Yes, for >€10,000 |
| Japan | Act on Prevention of Transfer of Criminal Proceeds | FSA | Always | Yes, for >¥1 million |
As you can see, Denmark isn’t especially strict compared to Germany or Japan, but the ID requirement is pretty much universal for in-person exchanges these days.
Let’s say a British expat living in Copenhagen tries to exchange £5,000 into DKK. In the UK, smaller exchanges typically don’t require as much documentation. But in Denmark, she’s asked for not only her passport but also an explanation and proof of the source of funds. She complains, citing UK practice, but the Danish bank stands firm, referencing the local law and the Danish FSA’s guidance. Ultimately, she has to provide a UK bank statement.
This kind of cross-border confusion is exactly why industry experts like Lars Mikkelsen (AML specialist, interviewed in FinansWatch) recommend: “Travelers should always check local rules before assuming their home country’s practice applies abroad. Banks face real penalties for even small lapses.”
If you’re headed to Denmark and plan to exchange more than pocket change, bring your passport and a printout of your hotel confirmation or other proof of address. If you need to swap a lot (say, for a car purchase or tuition payment), prep your bank statements and pay slips in advance. And don’t assume that what works at your local bank in the US—or even in Germany—will fly in Denmark.
Also, pro tip: Sometimes, using an ATM with your debit card gives a better rate and skips the paperwork, but check your bank’s fees first. I learned this the hard way after getting dinged for a $20 “foreign transaction” fee.
In summary: Denmark requires a passport for any currency exchange at a bank, and larger amounts trigger extra documentation requirements. This is shaped by both national law and broader EU anti-money laundering standards, and while it’s a bit of a hassle, it’s standard practice across much of the world. My advice? Prep your docs, double-check your destination bank’s website, and don’t be shy about asking for help—the tellers have seen it all. And if you’re ever unsure, the Danish FSA has the final word.
If you’re dealing with even larger sums, talk to your home bank about international transfers—they may be safer and more efficient than carrying cash across borders.
Feel free to reach out if you want more detailed, bank-specific requirements or have a weird scenario—trust me, I’ve probably run into it!