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5 Best Travel Cards for Iceland

Getting an international travel card before you travel to Iceland can make it cheaper and more convenient when you spend in Icelandic Króna. You'll be able to easily top up your card in USD before you leave the US, to convert seamlessly to ISK for secure and flexible spending and withdrawals.

This guide walks through our picks of the best travel cards available for anyone from the US heading to Iceland, like Wise or Revolut. We'll walk through a head to head comparison, and a detailed look at their features, benefits and drawbacks.

5 best travel money cards for Iceland:

Let's kick off our roundup of the best travel cards for Iceland with a head to head comparison on important features. Here's an overview of the providers we've picked to look at, for customers looking for ways to spend conveniently overseas when travelling from the US:

Each of the international travel cards we’ve picked out have their own features and fees, which may mean they suit different customer needs. Keep reading to learn more about the features, advantages and disadvantages of each - plus a look at how to order the travel card of your choice before you head off to Iceland.

Revolut travel card

Choose a Revolut account, from the Standard plan which has no monthly fee, to higher tier options which have monthly charges but unlock extra features and benefits. All accounts come with a smart Revolut card you can use in Iceland, with some no fee ATM withdrawals and currency conversion monthly, depending on the plan you pick. Use your Revolut account to hold and exchange 25+ currencies, and get extras like account options for under 18s, budgeting tools and more.

Revolut features

Revolut travel card pros and cons.

• Pick the Revolut account plan that suits your spending needs
• Hold and exchange 25+ currencies, and spend in 150 countries
• Accounts come with different card types, depending on which you select
• All accounts have some no fee currency exchange and some no fee ATM withdrawals monthly
• Some account tiers have travel perks like complimentary or discounted lounge access
• You need to upgrade to an account with a monthly fee to get all account features
• Delivery fees may apply for your travel card
• Fair usage limits apply once you exhaust your currency conversion and ATM no fee allowances
• Out of hours currency conversion has additional fees

How to apply for a Revolut card

Set up your Revolut account before you leave the US and order your travel card. Here’s how:

Download and open the Revolut app

Register by adding your personal and contact information

Upload your ID document to complete the verification step

Follow the prompts to confirm your address and order your card

Pay any required delivery fee - costs depend on your account type

Wise travel card

Open a Wise account online or in the Wise app, to order a Wise travel card you can use for convenient spending and withdrawals in Iceland. Wise accounts can hold 40+ currencies, so you can top up in USD easily from your bank or using your card. Whenever you travel, to Iceland or beyond, you’ll have the option to convert to the currency you need in advance if it’s supported for holding a balance, or simply let the card do the conversion at the point of payment.

In either case you’ll get the mid-market exchange rate with low, transparent fees whenever you spend in ISK, plus some free ATM withdrawals every month - perfect if you’re looking for easy ways to arrange your travel cash.

Wise features

Wise travel card pros and cons.

• Hold and exchange 40+ currencies with the mid-market rate
• Spend seamlessly in ISK when you travel
• Some free ATM withdrawals every month, for those times only cash will do
• Ways to receive payments to your Wise account conveniently
• Manage your account and card from your phone
• 9 USD delivery fee for your first card
• ATM fees apply once you've exhausted your monthly free withdrawals
• Physical cards may take 14 - 21 days to arrive

How to apply for a Wise card

Here’s how to apply for a Wise account and order a Wise  travel card in the US:

Open the Wise app or desktop site

Select Register and confirm you want to open a personal account

Register with your email, Facebook, Apple or Google ID

Tap the Cards tab to order your card

Pay the one time 9 USD fee, confirm your mailing address, and your card will be on the way, and should arrive in 14 - 21 days

Chime travel card

Use your Chime account and card to spend in Iceland with no foreign transaction fee. You’ll just need to load a balance in USD and then the money is converted to ISK instantly with the Visa rate whenever you spend or make a withdrawal. There’s a fee to make an ATM withdrawal out of network, which sits at 2.5 USD, but there are very few other costs to worry about. Plus you can get lots of extra services from Chime if you need them, such as ways to save.

Chime features

Chime travel card pros and cons.

• No Chime foreign transaction fees
• No ongoing charges for your account
• Lots of extra products and services if you need them
• Easy ways to manage your money online and in app
• Virtual cards available
• You'll need to inform Chime you're traveling to use your card abroad
• Low ATM limits
• Cards take 7 - 10 days to arrive by mail

How to apply for a Chime card

Here’s how to apply for a Chime account and order a travel card in the US:

Visit the Chime website or download the app

Click Get started and add your personal details

Add a balance

Your card will be delivered in the mail and you can use your virtual card instantly

Monzo travel card

Monzo cards can be ordered easily in the US and used for spending in Iceland and globally. Monzo accounts are designed for holding USD only - but you can spend in ISK and pretty much any other currency easily, with no foreign transaction fee. Your funds are just converted using the network exchange rate whenever you pay or make a withdrawal.

Monzo doesn’t usually apply ATM fees, but it’s worth knowing that the operator of the specific ATM you pick may have their own costs you’ll need to check out.

Monzo features

Monzo travel card pros and cons.

• Good selection of services available
• No foreign transaction fee to pay
• No Monzo ATM fee to pay
• Manage your card from your phone conveniently
• Deposits are FDIC protected
• You can't hold a foreign currency balance
• ATM operators might apply their own fees

How to apply for a Monzo card

Here’s how to apply for a Monzo account and order a travel card in the US:

Visit the Monzo website or download the app

Click Get Sign up and add your personal details

Check and confirm your mailing address and your card will be delivered in the mail

Netspend travel card

Netspend has a selection of prepaid debit cards you can use for spending securely in Iceland. While these cards don’t usually let you hold a balance in ISK, they’re popular with travelers as they’re not linked to your regular checking account. That increases security overseas - plus, Netspend offers virtual cards you can use to hide your physical card details from retailers if you want to.

The options with Netspend vary a lot depending on the card you pick. Usually you can top up digitally or in cash in USD and then spend overseas with a fixed foreign transaction fee applying every time you spend in a foreign currency. You’ll be able to view the terms and conditions of your specific card - including the fees - online, by entering the code you’ll find when your card is sent to you.

Netspend features

Netspend travel card pros and cons.

• Large selection of different card options depending on your needs
• Some cards have no overseas ATM fees
• Prepaid card which is secure to use overseas
• Manage your account in app
• Change from one card plan to another if you need to
• You may pay a monthly fee for your card
• Some cards have foreign transaction fees for all overseas use, which can be around 4%
• Selection of fees apply depending on the card you pick

How to apply for a Netspend card

Here’s how to apply for a Netspend account and order a travel card in the US:

Visit the Netspend website

Click Apply now

Complete the details, following the onscreen prompts

Get verified

Your card will arrive by mail - add a balance and activate it to get started

What is a travel money card?

A travel money card is a card you can use for secure and convenient payments and withdrawals overseas.

You can use a travel money card to tap and pay in stores and restaurants, with a wallet like Apple Pay, or to make ATM withdrawals so you'll always have a bit of cash in your pocket when you travel.

Although there are lots of different travel money cards on the market, all of which are unique, one similarity you'll spot is that the features and fees have always been optimised for international use. That might mean you get a better exchange rate compared to using your normal card overseas, or that you run into fewer fees for common international transactions like ATM withdrawals.

Travel money cards also offer distinct benefits when it comes to security. Your travel money card isn't linked to your United States Dollar everyday account, so even if you were unlucky and had your card stolen, your primary bank account remains secure.

Travel money vs prepaid card vs travel credit card

It's helpful to know that you'll be able to pick from several different types of travel cards, depending on your priorities and preferences. Travel cards commonly include:

• Travel debit cards
• Travel prepaid cards
• Travel credit cards

They all have distinct benefits when you head off to Iceland or elsewhere in the world, but they do work a bit differently.

Travel debit and prepaid cards are usually linked to an online account, and may come from specialist digital providers - like the Wise card. These cards are usually flexible and cheap to use. You'll be able to manage your account and card through an app or on the web.

Travel credit cards are different and may suit different customer needs. As with any other credit card, you may need to pay an annual fee or interest and penalties depending on how you manage your account - but you could also earn extra rewards when spending in a foreign currency, or travel benefits like free insurance for example. Generally using a travel credit card can be more expensive compared to a debit or prepaid card - but it does let you spread out the costs of your travel across several months if you'd like to and don't mind paying interest to do so.

What is a prepaid travel money card best for?

Let's take a look at the advantages of using a prepaid travel money card for travellers going to Iceland. While each travel card is a little different, you'll usually find some or all of the following benefits:

• Hold and exchange foreign currencies - allowing you to lock in exchange rates and set a travel budget before you leave
• Convenient for spending in person and through mobile wallets like Apple Pay, as well as for cash withdrawals
• You may find you get a better exchange rate compared to your bank - and you'll usually be able to avoid any foreign transaction fee, too
• Travel cards are secure as they're not linked to your everyday USD account - and because you can make ATM withdrawals when you need to, you can also avoid carrying too much cash at once

Overall, travel cards offer flexible and low cost ways to avoid bank foreign transaction and international ATM fees, while accessing decent exchange rates.

How to choose the best travel card for Iceland

We've picked out 5 great travel cards available in the US - but there are also more options available, which can make choosing a daunting task. Some things to consider when picking a travel card for Iceland include:

• What exchange rates does the card use? Choosing one with the mid-market rate or as close as possible to it is usually a smart plan
• What fees are unavoidable? For example, ATM charges or top up fees for your preferred top up methods
• Does the card support a good range of currencies? Getting a card which allows you to hold and spend in ISK can give you the most flexibility, but it's also a good idea to pick a card with lots of currency options, so you can use it again in future, too
• Are there any other charges? Check in particular for foreign transaction fees, local ATM withdrawal fees, inactivity fees and account close fees

Ultimately the right card for you will depend on your specific needs and preferences.

What makes a good travel card for Iceland

The best travel debit card for Iceland really depends on your personal preferences and how you like to manage your money.

Overall, it pays to look for a card which lets you minimise fees and access favourable exchange rates - ideally the mid-market rate. While currency exchange rates do change all the time, the mid-market rate is a good benchmark to use as it’s the one available to banks when trading on wholesale markets. Getting this rate, with transparent conversion fees, makes it easier to compare costs and see exactly what you’re paying when you spend in ISK.

Other features and benefits to look out for include low ATM withdrawal fees, complimentary travel insurance, airport lounge access or emergency cash if your card is stolen. It’s also important to look into the security features of any travel card you might pick for Iceland. Look for a card which uses 2 factor authentication when accessing the account app, which allows you to set instant transaction notifications, and which has easy ways to freeze, unfreeze and cancel your card with your phone.

For Iceland in particular, choosing a card which offers contactless payments and which is compatible with mobile wallets like Apple Pay could be a good plan. Card payments are extremely popular in Iceland - so having a card which lets you tap and pay easily can speed things up and make it more convenient during your trip.

Ways to pay in Iceland

Cash and card payments - including contactless, mobile wallet, debit, credit and prepaid card payments - are the most popular ways to pay globally.

In Iceland card payments are common in most situations. You’ll be able to make Chip and PIN or contactless payments or use your favourite mobile wallet like Apple Pay to tap and pay on the go. It’s still worth having a little cash on you just in case - and for the odd situations where cash is more convenient, such as when tipping or buying a small item in a market.

Which countries use ISK?

If you have ISK, you should be able to use it in a few countries. You may decide to keep your travel card topped up with a balance for this trip to Iceland or for the next time you’re headed somewhere which uses ISK.

What should you be aware of when travelling to Iceland

You’re sure to have a great time in Iceland - but whenever you’re travelling abroad it's worth putting in a little advance thought to make sure everything is organised and your trip goes smoothly. Here are a few things to think about:

1. Double check the latest entry requirements and visas - rules can change abruptly, so even if you’re been to Iceland before it’s worth looking up the most recent entry requirements so you don’t have any hassle on the border

2. Plan your currency exchange and payment methods - you can change USD to ISK before you travel to Iceland if you’d like to, but as card payments are common, and ATMs widely available, you can actually leave it until you arrive to get everything sorted as long as you have a travel money card. Top up your travel money card in USD and either exchange to ISK in advance or at the point of payment, and make ATM withdrawals whenever you need cash. Bear in mind that currency exchange at the airport will be expensive - so hold on until you reach Iceland to make an ATM withdrawal in ISK if you can.

3. Get clued up on any health or safety concerns - get travel insurance before you leave the US so you have peace of mind. It’s also worth reading up on any common scams or issues experienced by tourists. These tend to change over time, but may include things like rip off taxis or tour agents which don’t offer fair prices or adequate services.

Conclusion - Best travel cards for Iceland

Ultimately the best travel card for your trip to Iceland will depend on how you like to manage your money. Use this guide to get some insights into the most popular options out there, and to decide which may suit your specific needs.

FAQ - best travel cards for Iceland

When you use a travel money card you may find there’s an ATM withdrawal fee from your card issuer, and there may also be a cost applied by the ATM operator. Some of our travel cards - like the Wise and Revolut card options - have some no fee ATM withdrawals every month, which can help keep down costs.

Travel money cards may be debit, prepaid or credit cards. Which is best for you will depend on your personal preferences. Debit and prepaid cards are usually pretty cheap and secure to spend with, while credit cards may have higher fees but often come with extra perks like free travel insurance and extra reward points.

There’s no single best prepaid card for international use. Look out for one which supports a large range of currencies, with good exchange rates and low fees. This guide can help you compare some popular options, including Wise, Revolut and Monzo.

Yes, you can use your local debit card when you’re overseas. However, it’s common to find extra fees apply when spending in foreign currencies with a regular debit card. These can include foreign transaction fees and international ATM charges.

Usually having a selection of ways to pay - including a travel card, your credit or debit card, and some cash - is the best bet. That means that no matter what happens, you have an alternative payment method you can use conveniently.

Yes. Most travel debit cards have options to make ATM withdrawals. Check the fees that apply as card charges do vary a lot. Some cards have local and international fees on all withdrawals, while others like Wise and Revolut, let you make some no fee withdrawals monthly before a fee kicks in.

Both Visa and Mastercard are globally accepted. Look out for the logo on ATMs and payment terminals in Iceland.

The cards you see on this page are ordered as follows:

For card providers that publish their exchange rates on their website, we used their USD / ISK rate to calculate how much Icelandic Króna you would receive when exchanging / spending $4,000 USD. The card provider offering the most ISK is displayed at the top, the next highest below that, and so on.

The rates were collected at 15:54:21 GMT on 19 February 2024.

Below this we display card providers for which we could not verify their exchange rates. These are displayed in alphabetical order.

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Learn how to easily plan your dream trip to Iceland with helpful guides and tips!

7 Helpful Things To Know About Money In Iceland

June 24, 2020 //  by  Iceland Trippers //   15 Comments

If you are planning a trip to Iceland , you are probably wondering about the money and currency in Iceland!

Currency in Iceland is a bit more complicated than you are probably used to, which is why we created this easy guide so you can learn more about money in Iceland before your trip!

Planning your trip to Iceland last minute?

Make sure to book your hotels and tours in Iceland in advance to ensure availability! The longer you wait, the more difficult it gets. Here are my top picks for your trip :

Top Experiences And Tours In Iceland:

• Golden Circle Full Day Tour From Reykjavik (Likely to sell out!)
• Silfra Snorkeling Tour (Includes photos + only small group)
• South Of Iceland Full Day Trip (Our pick!)
• Whale Watching In Reykjavik (On a luxury yacht)
• Northern Lights Bus Tour (Great to go with a local)
• Ice Cave Tour And Glacier Hike (Likely to sell out)

Tickets You MUST book in advance:

• Keflavik > Reykjavik Bus Airport Transfer (Skip the line!)
• Sky Lagoon Entrance Ticket (Includes 7-step spa ritual)
• Blue Lagoon Entry Ticket With Drink (Likely to sell out!)

Top picks for places to stay in Iceland:

• Hotel South Coast (Great central location)
• Grandi Reykjavik (Includes free breakfast)
• Hotel Kria (Close to black sand beach)
• Hotel Skaftafell (Mid-range price)

Iceland is a beautiful country but also an expensive country, depending on where you are coming from!

If you are American or European or from pretty much anywhere other than a Nordic country, currency in Iceland will be stronger than yours which means that Iceland will be a more expensive country to visit!

Nonetheless, there are a few things to know about money in Iceland which will prepare you for your visit to this beautiful but expensive country!

Get a FREE printable “Hidden Gems In Iceland” E-book by joining our private  Iceland Facebook Group  and share your photos and ask for tips and tricks.

#1. The Icelandic Krona Is The Official Currency In Iceland

The official currency in Iceland is the Icelandic Krona. The abbreviation for the Iceland currency is ISK. Despite popular belief, the Euro is NOT the official currency of Iceland even though Iceland is indeed in the European Union! 

The currency is very strong, one of the strongest in the world, so chances are if you are visiting Iceland from pretty much anywhere else in the world, Icelandic currency will be stronger than your local currency.

This means that the exchange rate of Icelandic currency will not be in your favor and that you will be paying more with your local currency than Icelanders would pay with local currency in Iceland.

While the Icelandic Krona fell over a decade ago, the Icelandic government has done well in getting Iceland currency back on its feet and back as a contender on the world stage.

The strength of currency in Iceland is similar to the strength of currency in other countries such as Switzerland, Norway, Sweden, and Japan. This is why tourists must expect to pay a lot more for simple things such as gas in Iceland and groceries in Iceland when visiting this beautiful but expensive country.

You can try and convert your local currency to Icelandic currency with this handy converter below to see just how far it stretches…or not!

#2. You Can Use Credit And Debit Cards Pretty Much Anywhere So There Is Not Much Need For Cash Currency In Iceland

Something unique about traveling to Iceland is that you will virtually never need to use cash currency in Iceland. The vast majority of Icelanders use debit or credit card for making purchases.

In fact, we went to Iceland on two whole trips before we ever even needed to pull out money and even then we came back to the United States with Iceland currency left over! The fact that you don’t have to withdraw cash in Iceland makes the country a very appealing travel destination!

Many tourists are unsure about money in Iceland and always wonder if it is necessary to withdraw cash Icelandic currency. We are here to tell you that it is easier and cheaper to simply use your credit or debit card when traveling throughout Iceland.

From roadside restaurants to gas stations and souvenir shops, the majority of the country utilizes cash currency in Iceland. That being said, we still recommend bringing a debit card when traveling in Iceland just in case you do need to take out some Icelandic money!

#3. If You Want Cash Iceland Currency, Withdraw Money At The ATM in Keflavik Airport

So, what if you do want to withdraw money in Iceland? If you are going to be traveling outside of the Reykjavik area and you want to have cash money in Iceland, we highly recommend withdrawing Icelandic currency at Keflavik Airport.

If you are driving in Iceland , you are going to want to make the airport ATM one of your stops before the Ring Road!

Iceland is pretty remote in spots and there really aren’t a lot of banks or ATMs spread around everywhere like you may be used to in other countries. While there are multiple options in Reykjavik, if you are going outside of the city and you want cash currency in Iceland, you need to be prepared.

Keflavik Airport is relatively small, so finding the ATM is quite easy. Once you exit the baggage claim area at Keflavik Airport, you will be in a small reception area where you can pick up a rental car or shuttle into Reykjavik. This is the area where you will find the ATM.

Figure out how much Icelandic currency you are going to need for your trip, and take out that amount right then and there at the Keflavik Airport ATM. There will be a small fee for withdrawing Icelandic money from the ATM from your local bank, so it is better to pull out a larger sum of money all at one time than lots of smaller transactions.

This allows you to have cash currency in Iceland if you should need it during your trip.

#4. The Only Times You May Need Cash Money In Iceland Will Be To Pay For Entrance To Bathrooms And Hot Springs

If you are sticking to the main tourist routes such as the South Coast and the Golden Circle, you will probably never need to take out Icelandic currency in cash. The vast majority of Iceland operates on a plastic card basis which makes it very convenient for visitors.

That being said, there are some scenarios when having cash in Iceland may be necessary. This is why figuring out a loose plan of what you want to do during your trip is a good idea. Even if you don’t know what you are going to be doing, it is never a bad idea to simply take out $20 USD of cash at the ATM in Keflavik Airport just in case.

Many bathrooms in Iceland charge a fee for entry and some allow you to even swipe a credit card. For Americans, a fee for a bathroom is just a crazy idea but it is the norm in Iceland [and lots of places in Europe too!] Icelanders have gotten smart and added a place to swipe your credit card to pay for bathrooms at many tourist sites in Iceland.

If you are going off the main tourist route or stop at a smaller establishment, you may have to pay with coins or cash to use the restroom. Withdrawing a small amount of money to have on hand for using the bathroom will come in handy when traveling through the country.

Similarly, if you are going to one of the smaller hot springs in Iceland, you may need to pay with cash Iceland currency in order to enter the facility. For example, Hrunalaug Hot Springs is small and requires cash only!

Many of the more popular hot springs in Iceland with fees do take credit card, but there are some smaller ones that are on personal property that require a small fee for entry. This is another reason why having some money handy while traveling in Iceland.

#5. Save Your Receipts From Tax-Free Shopping In Iceland So You Get Money Back Upon Your Departure

Say what? For Americans, this may be a foreign concept but we are here to show you the way! Iceland has a VAT Tax [Value Added Tax] that applies to items purchased in Iceland that will be taken out of the country. This means that you will get a refund on some of the money spent in Iceland upon your departure from the country! Pretty cool, right?

In order to get the money back, you will have to save your receipts to show at the airport. The Tax-free shopping applies to clothes, souvenirs, and goods totaling over 6000ISK but does not apply to food or drink purchased in Iceland. When you are checking out, ask your cashier for a tax-free receipt. Upon your departure at Keflavik Airport, you will then submit your receipt to the customs office at the airport to receive your refund.

Refunds are usually given in Icelandic currency and it is then up to you to convert this money back to your home currency. If you want to get back some of the money you spent in Iceland, we highly recommend arriving at the airport earlier than normal as the line may be quite long from all the other people looking to get some additional Iceland currency back!

The VAT Tax in Iceland is currently 25.5% and 7% on special goods. If you are purchasing a lot of souvenirs, this money adds up quickly. Save your receipts and don’t forget to get a tax-free proof of purchase so you can receive some extra Icelandic currency upon your departure.

#6. You Will Need A Card With A Pin Or Cash In Order To Get Gas In Iceland

If you are planning on driving in Iceland, you are going to need to get gas at some point or the other. Don’t get stranded out in the middle of Iceland with no gas and no money so be prepared!

You can go inside a gas station store in Iceland and pay for your gas with a card or Icelandic currency. That being said, many gas stations in more rural parts of Iceland close early and some don’t even have an attendant.

In these situations, you are going to need to use cash or a card with a pin. Most credit cards do not come with a pin so if you are only bringing a credit card, make sure to call your bank before you leave your home country and get a pin.

A pin is not the same thing as a zip code either so be sure to specifically request a pin for your credit card. Better still, avoid trouble all-together and simply bring your debit card and use it when you need money in Iceland to fill your car at a gas station.

You can use your debit card pin number and use self-serve gas station pumps with no issues. Make sure to call your bank ahead of time to let them know your dates of travel so your debit card is not declined when trying to use your money in Iceland.

Finally, if you are worried about not knowing how to use your credit or debit card when getting gas in Iceland, simply have a little Iceland currency on hand for an emergency.

Withdraw it from Keflavik Airport as detailed above and tuck it away in the event you need money in Iceland and your card is declined. Sometimes it happens to the best of us and you really don’t want to be stranded in an emergency with no money.

This is rare and if you call your credit card and bank and tell them of the dates of your travel and fill up your gas tank early and often while driving, you should never run out of money in Iceland. Just be prepared and know what to expect and you will be fine!

#7. There Is No Tipping Culture In Iceland

There is no tipping culture in Iceland so there is no need to have Icelandic currency on hand for such an occasion. This may feel weird to Americans traveling in Iceland as the tipping culture in our country is strong but don’t feel bad!

People in Iceland are well paid and tips are included in the cost that you pay up front. There is no need for tipping in Iceland for taxis, restaurants, bars, or tour guides so there is no need to carry extra money in Iceland for this occasion.

That being said, if you do decide to tip because you want to or aren’t sure, Icelanders won’t be offended and will take your tip graciously. Other countries around the world are offended by tips as it shows their service wasn’t good enough already and many other people around the world refuse to take tips of any kind which can be confusing.

Tips are not necessary or a cultural norm in Iceland, but if you do tip, Icelanders will not refuse it. We recommend sticking to what is normal in the local culture you are visiting so you don’t disrupt the flow! If you are in a country that does not have a tipping culture, do as the locals do, even if it feels foreign or weird to you!

Money in Iceland isn’t all that hard to figure out and we hope this guide helped you to prepare for your visit to Iceland. While the currency of Iceland is indeed strong, there are steps you can take to travel the country on a budget and you are able to save a few bucks here and there.

Make sure to follow these simple rules of money in Iceland so you are prepared and have a wonderful stay in one of our favorite countries!

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Reader Interactions

July 23, 2020 at 8:45 pm

Iceland is not a member of the EU, which you claim.

October 20, 2020 at 4:02 pm

Iceland is NOT a member of the EU however they do follow some of their rules and regulations to benefit the people like importing food etc. As an Icelander I hope my little country never joins as the people would loose more then gain like the 200 mile fishing right which the EU would love to control and my people would not be feee to live the way we have lived for over a thousand years. Also the currency fluctuates it’s not always strong as you imply, I was in Iceland a week ago and the US dollar was very strong against the Krona so items I bought were very reasonable.

September 15, 2021 at 8:20 am

I wonder how similar this is to Norway. Certain political elites keep pushing to get Norway into the EU but the people keep realizing it is not in the interest of most Norwegians. So Norway is as closely connected to EU as the politicians can make it without a popular referendum, and popular referendums keep saying no to EU membership. –This may be only roughly true, I have not looked into it fully, but the Norwegians who told me this seemed very intelligent and well informed.

November 2, 2021 at 2:05 pm

“As an Icelander I hope my little country never joins as the people would lose more than gain like the 200 mile fishing right which the EU would love to control and my people would not be free to live the way we have lived for over a thousand years.”❤️ Well said Elin. As an example we here in the UK are now having to deal with President Macron who seems to think all the fish in the sea belongs to France! Best for Iceland to just keep the EU at arms length and stay in the European Economic Area (EEA). All the best Elin.

January 20, 2021 at 4:13 pm

Can anybody give me advice on an upcoming trip to Iceland on 23/12/2021 Covid permitting for 4 days. We have excursions, travel and accommodation included but after visiting 6 years ago at the same time, can u advise me of cost of eating out and drinks at Christmas time and does Reykjavik cathedral still hold their Carol service please

April 25, 2021 at 5:29 pm

Please add a caution to your statement that a credit card requires a PIN. You can get a PIN, but there is a good chance your bank now considers using your card this way as a cash advance. There will be a charge of typically 3% for a cash advance, but check with your bank. Also, your changes will start to accrue interest immediately, not at the end of the billing cycle for regular credit card charges. Thins is based on calls to 3 different US credit cards i have checked out.

September 3, 2022 at 7:44 pm

Glad I read this. I just finished getting a PIN setup for my Credit Card through my bank, then I saw this comment. I called back and it turns out mine is 2% interest on top of my normal interest rate, and it accrues daily. They also said if the credit card is charged as a normal credit card (no PIN requested) then everything is normal. But, if it is charged and a PIN is required, then it’s treated as a cash advance and the higher interest rate applies.

February 5, 2024 at 3:10 pm

just getting a prepaid credit card and put money on it or use a debit card. easy enough.

May 15, 2021 at 3:08 am

US credit cards do not have a pin for credit card use. What is popularity of using applepay?

May 17, 2021 at 4:35 pm

No apple pay too much in my experience but I also don’t widely use it.

June 15, 2021 at 8:07 pm

I am looking at a 1 he helicopter tour of the volcano eruption. Says the charge is 114.000 isk for 2 people. What is the USD equivalent? Heli Tours is the company.

June 16, 2021 at 3:30 am

Hello Janice, you simply need to pop the number into ISK to USD converter on the internet and it can help with all conversions! I went ahead and did it for this question and it was about $950. hope this helps!

September 18, 2022 at 10:20 am

When I visited Iceland in 2007 U.S. debit cards did not work. I was told later, by my bank, that it was due to some dispute between Iceland and the United States over Icelandic bank secrecy laws and American homeland security laws. My U.S. credit cards worked fine. So has that changed?

September 18, 2022 at 5:33 pm

Yes I was just there in June 2022 and we used debit cards on gas stations

September 23, 2022 at 5:43 pm

Does a Venmo debit card work in Iceland

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Icelandic Krona card

Travelling from the UK to Iceland? Spend effortlessly in Icelandic Kronur (ISK) with a multi-currency card.

40+ million worldwide customers use Revolut

Revolut offers so much more than a travel card. Exchange currencies, send money abroad, and hold 36 local currencies in-app. These are just some reasons why our customers rely on us for their travel spending.

How does a Icelandic Krona card work?

How to get your ISK card

Get your Icelandic Krona card in 3 steps

Get revolut.

Join 40+ million people worldwide saving when they spend abroad with Revolut.

Order your card

Order your free Icelandic Krona card. Top up your balance in GBP or 36 other currencies.

Spend like a local

Start spending in Icelandic Kronur.

Currency exchange fees subject to fair-usage limits and weekend markups. Currency exchange shown is only an indicative example.

Why should I get a Icelandic Krona card?

Where is the Icelandic Krona card available?

Spend confidently with a Icelandic Krona card

How to save money when spending in Icelandic Kronur

Tips for saving money in Iceland

Don't exchange at airports or at home.

No need to exchange cash before you travel — use your travel money card to spend or withdraw money from an ATM.

Choose ISK as the local currency

Choose the local currency when spending with your card in shops and restaurants.

Save with a travel money card

Spend in Icelandic Kronur like a local with Revolut.

How to avoid unwanted ATM fees

Need to make ISK withdrawals in Iceland?

Fee-free Icelandic Krona ATM withdrawals

Fee-free atm withdrawals up to £200, fee-free atm withdrawals up to £400, fee-free atm withdrawals up to £800.

ATM withdrawals are subject to fair-usage fees depending on plan. Currency exchange fees may apply.

What are you waiting for?

Save when you travel with a ISK travel card

Rating as of 28 Apr 2024

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Need a little more help?

Icelandic Krona currency card FAQs

Is it better to use a travel money card rather than cash in iceland.

There is no 'best' way to spend in Icelandic Kronur, but here are some tips to help you save money:

• Don’t exchange cash at the airport. It’s much cheaper to withdraw money from an ATM with your Icelandic Krona card.
• Don't carry more cash than you need. When you return home to the UK, you’ll have to re-convert this cash back to GBP.
• Always choose ISK as the local currency when spending with your card in shops and restaurants.
• Download the Revolut app, then sign up to get instant notifications on what you spend and manage your balance.

Are travel money cards safe and secure?

Where can i use my isk travel money card, how much can i pay using my icelandic krona card.

There is no limit to the amount that you can spend using your Icelandic Krona card. Just top up in-app with however much you want and enjoy your travels.

How can I avoid unwanted ATM fees in Iceland?

There are tonnes of benefits to a Icelandic Krona card. Let’s look at a few:

• Send and spend in Icelandic Kronur and 150+ other currencies.
• No need to exchange or carry cash. Pay with your Icelandic Krona card, either contactless or with chip and PIN.
• No need to wait for your physical card to arrive. Instantly add your card to Google Pay or Apple Pay.
• Create single-use virtual cards for safe online shopping or travel bookings.
• Enjoy fee-free ATM withdrawals between £200 and £2,000 monthly, depending on your plan.
• Get instant payment notifications to keep track of how much you spend.
• Stay in control of your card’s security, with card freezing and spending limit controls.
• Easily manage your spending around the world with the free Revolut app.

How do I get a Icelandic Krona travel money card?

To order your Revolut debit card and start spending in Icelandic Kronur, simply:

• Download the Revolut app on your Android or iPhone and sign up for free.
• Order your free Icelandic Krona card. Top up your balance in GBP or 150+ other currencies.
• Get your card in the post or add it to Google Pay or Apple Pay to use it immediately.
• Start spending like a local in Icelandic Kronur.

Mastering Currency in Iceland: Your Essential Guide on How to Pay for Things

Some of the most common questions I get asked are related to money and currency in Iceland.

Have you ever had nightmares of being stranded somewhere in a foreign country without any money, or without being able to pay for things because you can’t access your money? 

That’s one dream you don’t want to make a reality!

Money matters and travel can be stressful, but I’m here to put your mind at ease. 

Thankfully, paying for things in Iceland is SUPER simple.

I’ll take you through how to pay for things when you’re here, what kind of cards work best, if you need local currency in Iceland and how much, and what the actual transaction looks like when you pay for things like groceries, fuel, etc.

Let’s get into it!

Table of Contents:

• What Is the Currency in Iceland
• Where to Exchange Icelandic Króna
• Paying With Cash
• Paying With Debit and Credit Card
• Using The Chip and Pin Method
• Contactless Payments in Iceland 

Paying for Fuel or Groceries

• What Credit Cards Are Accepted in Iceland

What Is the Currency in Iceland?

The official currency in Iceland is the Icelandic Króna.

Before this, the Danish Krone was used but since Iceland gained independence from Denmark, the new currency was introduced.

Cash is still widely accepted around the country and I suggest having some on hand while you’re traveling, but it’s not essential – more about that in a moment.

Iceland’s currency to the USD is currently at 136 ISK to a dollar.

The Icelandic Króna exchange rate to the Euro is 148 ISK and 173 ISK to the Pound Sterling.

Where to Exchange Icelandic Króna?

As I mentioned before, cash is not necessary, but here are a few things to consider if you plan on paying with physical money in Iceland.

If you want to exchange your currency in Iceland, you can easily do this at the bank at Keflavík airport when you arrive or when you get to Reykjavík. 

Just be aware of any fees associated with ATM withdrawals before you leave home.

If you’re wondering how much cash to bring to Iceland, I suggest taking out about 10,000 ISK. 

You can also exchange currency in Iceland if you plan on visiting another city.

Traveling to Iceland for the first time? Do yourself a favor and check out the post below:

➡️ READ : Iceland for first-timers | 5 tips you need to know!

Does Iceland Accept Other Currencies? 

You might be wondering…does Iceland use Euros or U.S. dollars? Because the official currency is the Icelandic Krona, euros or dollars are not widely used in Iceland. However, you will find that some restaurants, bars, and attractions geared towards tourists may accept US and Canadian dollars, as well as Euros – but I wouldn’t count on it. 

Just know, you’ll always get the best rate by paying in the local currency!

How to Pay for Things in Iceland

There are a few different ways that you can pay for things in Iceland. The actual transaction can look different depending on what method you use.

Let’s take a look at what they are so you’re not caught off guard.

Let me answer the burning question: Do you need to carry local currency in Iceland?

Carrying cash will come in handy for various things like if you’re doing laundry, or if you’re camping and you want to use the showers at the campsite. 

It’s also nice to have if you booked a tour, loved it, and wanted to tip your tour guides.

But, carrying money in Iceland is 100% not required.  

Gratuity : Many people worry about the tipping situation at restaurants, but a gratuity is already built into the cost of the meal, so it isn’t necessary. But, I suppose a little something extra is always welcome if you feel like rounding up your bill! However, tips are never expected in Iceland. 

While carrying local currency in Iceland is not essential, I do recommend having a little bit of cash on hand while you travel.

I’m sure you’ve noticed that a trip to Iceland can be pretty expensive. I’ve got some useful tips on how you can save money, take a look 👇

➡️ READ : 19 Easy Ways to Save Money on Your Trip to Iceland

Debit and Credit Card

The preferred method of payment in Iceland is by debit or credit card.

That being said, one thing I’ve found fascinating is that using a credit card in Iceland is not as common as a debit card.

So, what’s the difference between the two? 

Well, when you use your debit card, the money comes directly out of your bank account. 

A credit card, on the other hand, has a revolving line of credit so you’ll essentially spend money first and then pay for it later. 

It’s not common for people to have multiple credit cards, unlike in the U.S.

So, when Icelanders use a card to pay, it’s usually a debit card tied to their bank account where the funds come directly out when the transaction is made.

We know it’s expensive to travel to Iceland, but how much does it cost to live here? No need to wonder, tell you all about it…👇

➡️ READ : How Much is the Cost of Living in Iceland? Groceries, Housing, Transport and More

Chip and Pin Method

What does a typical transaction look like? 

When you’re using your credit or debit card, all you have to do is swipe or if there’s a chip on the card, insert it into the chip and pin reader.

The machines in Iceland almost always have a chip reader so that’s the most common way to pay. 

Insert the chip, type in the PIN, and then pay for the transaction. 

If you don’t have the pin, then of course you’ll swipe your credit card and that’s how the transaction is completed. 

If your card doesn’t have a chip, then you can simply sign to complete the purchase.

Pro tip : Sometimes when paying with a card, there’ll be a pop-up asking you if you want to pay in your currency or the local currency.

It’s always best to pay in the local currency because that will have lower conversion rates and fees associated with it. 

Contactless

In Iceland, using a credit card with no pin is also possible with the contactless method.

It’s also known as tap-and-go and it’s becoming increasingly common here.  

This happens right at the kiosk and there’s a wireless sign built-in.

If you’ve got a contactless card, you’ll know because it’ll have a little Wi-Fi sign on it and if you have your cards connected to your Apple Watch or iPhone, then you can just tap and be on your merry way!

This includes things like Apple Pay, and Google Pay, as well as linking your credit or debit cards to your wallet on your phone. 

I’m not a fan of carrying a physical wallet. Since I store everything on my phone, this is super convenient and easy and by far my favorite method of payment.

When I’m out sightseeing or hiking and arrive somewhere that I need to pay for something, the less I have to carry, the happier I am!

If I’m using my credit card to pay for groceries or gas, 50% of the time it’ll push my transaction through, and the rest of the time I’ll have to sign for that purchase.

On the other hand, if I were to use my Icelandic debit card at the pump or the grocery store, I would swipe the card, and I would immediately be prompted to enter my PIN.

It’s so easy to pay with a plastic card whether or not you have a debit or a credit card. 

I still have a U.S. bank account and a U.S. credit card, and have the same in Iceland. Therefore, I’m able to be quite flexible when I’m paying for things.

But, as a tourist, it’s a good idea to have a couple of payment options handy. 

You don’t want to find yourself in a tricky situation, like being at a gas pump in the middle of the countryside without a way to pay because they only accept one payment method you don’t have.

This is not a story you want to be telling when you get home!

What Credit Cards Are Accepted in Iceland?

I remember when I moved to Iceland, I wanted to apply for an Icelandair credit card so that we could gather points when traveling.

Let me tell you, it wasn’t easy to locate and apply for this credit card!

Some people have told me that Visa and MasterCard are the most widely accepted and Discover and American Express are less accepted, but I’m not an expert on this and can’t confirm that. 

It’s just something to keep in mind when planning your travels. 

By the way, if you’re looking for a credit card with NO foreign transaction fees, 5x on travel purchases, and a low annual fee this is my preferred travel credit card . 

We build up a lot of points for travel and I love it!

Looking for an all-in-one resource to help you plan your trip to Iceland?

One with scenic locations, hidden gems and practical details like toilets, pharmacies and grocery stores – all plotted on a digital map with over 500 locations?

Then you need to check out my 👉 Iceland Guidebooks + Maps .

Rest assured that you’ll have the best information at your fingertips to plan the best trip ever!

Pin it for later 👇🏼

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6 Best Travel Cards for Iceland

Getting an international travel card before you travel to Iceland can make it cheaper and more convenient when you spend in Euro. You'll be able to easily top up your card in AUD before you leave Australia, to convert seamlessly to EUR for secure and flexible spending and withdrawals.

This guide walks through our picks the best travel cards available for anyone from Australia heading to Iceland, like Wise or Revolut. We'll walk through a head to head comparison, and a detailed look at their features, benefits and drawbacks.

6 best travel money cards for Iceland:

Let's kick off our roundup of the best travel cards for Iceland with a head to head comparison on important features. Here's an overview of the providers we've picked to look at, for customers looking for ways to spend conveniently overseas when travelling from Australia:

Each of the international travel cards we’ve picked out have their own features and fees, which may mean they suit different customer needs. Keep reading to learn more about the features, advantages and disadvantages of each - plus a look at how to order the travel card of your choice before you head off to Iceland.

Wise travel card

Open a Wise account online or in the Wise app, to order a Wise travel card you can use for convenient spending and withdrawals in Iceland. Wise accounts can hold 40+ currencies, so you can top up in AUD easily from your bank or using your card. Whenever you travel, to Iceland or beyond, you’ll have the option to convert to the currency you need in advance if it’s supported for holding a balance, or simply let the card do the conversion at the point of payment.

In either case you’ll get the mid-market exchange rate with low, transparent fees whenever you spend in EUR, plus some free ATM withdrawals every month - perfect if you’re looking for easy ways to arrange your travel cash.

Wise features

Wise travel card pros and cons.

• Hold and exchange 40+ currencies with the mid-market rate
• Spend seamlessly in EUR when you travel
• Some free ATM withdrawals every month, for those times only cash will do
• Ways to receive payments to your Wise account conveniently
• Manage your account and card from your phone
• 10 AUD delivery fee for your first card
• ATM fees apply once you've exhausted your monthly free withdrawals
• Physical cards may take 7 - 14 days to arrive (you can use your virtual card right away)

How to apply for a Wise card

Here’s how to apply for a Wise account and order a Wise  travel card in Australia:

• Open the Wise app or desktop site
• Select Register and confirm you want to open a personal account
• Register with your email, Facebook, Apple or Google ID

Upload your ID document to complete the verification step

• Tap the Cards tab to order your card
• Pay the one time 10 AUD fee, confirm your mailing address, and your card will be on the way, and should arrive in 7 - 14 days

Revolut travel card

Choose a Revolut account, from the Standard plan which has no monthly fee, to higher tier options which have monthly charges but unlock extra features and benefits. All accounts come with a smart Revolut card you can use in Iceland, with some no fee ATM withdrawals and currency conversion monthly, depending on the plan you pick. Use your Revolut account to hold and exchange around 30 currencies, and get extras like account options for under 18s, budgeting tools and more.

Revolut features

Revolut travel card pros and cons.

• Pick the Revolut account plan that suits your spending needs
• Hold and exchange 30+ currencies, and spend in 150 countries
• Accounts come with different card types, depending on which you select
• All accounts have some no fee currency exchange and some no fee ATM withdrawals monthly
• Some account tiers have travel perks like complimentary or discounted lounge access
• You need to upgrade to an account with a monthly fee to get all account features
• Delivery fees may apply for your travel card
• Fair usage limits apply once you exhaust your currency conversion and ATM no fee allowances
• Out of hours currency conversion has additional fees

How to apply for a Revolut card

Set up your Revolut account before you leave Australia and order your travel card. Here’s how:

Download and open the Revolut app

Register by adding your personal and contact information

Follow the prompts to confirm your address and order your card

Pay any required delivery fee - costs depend on your account type

Travelex travel card

Use your Travelex travel card for spending in Iceland and beyond. Order your card online for delivery or collection, or just call into a Travelex location with your normal ID documents to take your card away instantly. Travelex cards can hold 10 major currencies, and you can spend globally wherever you see the Mastercard symbol. Whenever you need to convert currencies, the exchange rate used is set by Travelex and Mastercard, and may include a markup - but there’s no ATM fee at home or abroad.

Travelex features

Travelex travel card pros and cons.

• Hold 10 major currencies
• Order online or in person, for delivery to home, or in store collection
• No international ATM fees
• Mastercard perks available to cardholders
• 24/7 emergency support
• Fees may apply to get your card if you order it in person
• Exchange rate markup of 3.2% on average when loading supported currencies
• Inactivity fees apply after 12 months of not using your card, and a close out cost may be applied to retrieve any remaining balance

How to apply for a Travelex card

Get your Travelex card in Australia by either ordering online or calling into a local Travelex store with your ID document. You can get the card delivered to your home if you’d like to - or collect it in a store.

Australia Post travel card

Pick up an Australia Post travel card for spending and withdrawals in Iceland and around the world. You can get your card instantly by visiting a Post Office, and add funds in any of 11 supported currencies. Fees apply when you add money in AUD. You’ll be able to use your card for spending globally - if you need one of the 11 supported currencies, you can convert in advance. If you’re somewhere that uses an unsupported currency the card can simply convert from your balance to make the payment. Exchange rate markups are likely to apply.

Australia Post features

Australia post travel card pros and cons.

• Hold 11 currencies
• Collect your card instantly at a Post Office location
• No card order fee to pay
• Free wifi if you top up 100 AUD or the equivalent
• 24/7 support if your card is lost or stolen
• Both domestic and international ATM withdrawals have fees
• Some top up methods have fees
• Exchange rate markup of 6.5% on average when loading supported currencies

How to apply for a Australia Post card

Get your Australia Post travel card before you leave Australia, simply by calling into your local Post Office. It’s also possible to order your card online, although in this case you’ll need to wait for it to arrive by mail, and activate it once you have your card in your hand.

Travel Money Oz travel card

You can get a Travel Money Oz card online or in a store, to hold and exchange 10 currencies, and spend in Iceland and globally, wherever you see the Mastercard logo. You won’t pay an inactivity fee so you can collect your card for this trip, and keep hold of it for your next international trip if you’d like to, with no extra charges to worry about. Exchange rates are likely to include a markup, and ATM fees apply both locally and when you’re overseas.

Travel Money Oz features

Travel money oz travel card pros and cons.

• Hold 10 currencies
• Collect your card instantly at a Travel Money Oz store, or order online
• No inactivity fees
• Accepted globally anywhere you see the Mastercard logo
• Exchange rate markup of 6.3% on average when loading supported currencies
• Delivery may take 14 days

How to apply for a Travel Money Oz card

Pick up your Travel Money Oz card in Australia online or in a local store - remember to take your ID document. It’s worth noting that when you order online you’ll be asked when you plan to travel. If your trip is within 14 days, you won’t be able to order a card, as delivery may take 2 weeks.

Westpac travel card

Choose a Westpac travel card for spending in Iceland if you’d prefer to stick with a card from a major bank. You can hold a balance in AUD and 10 foreign currencies, and spend globally wherever the card network is available. ATM fees apply which are set according to the currency required - but there are also ways to avoid these fees by sticking with Westpac partner bank ATMs when you’re away from home.

Westpac features

Westpac travel card pros and cons.

• Pick up your card, and top up, online or in a branch
• Ways to get free ATM withdrawals through Westpac partner banks
• Option to get emergency cash if your card is lost or stolen
• No account keeping fee
• ATM fees apply
• Exchange rates are likely to include a markup
• Delivery may take 8 days if you order online

How to apply for a Westpac card

Call into a Westpac branch in Australia for the fastest way to get a Westpac travel money card. You can also apply online, but bear in mind that this will mean waiting 5 - 8 days for your card to be delivered.

What is a travel money card?

A travel money card is a card you can use for secure and convenient payments and withdrawals overseas.

You can use a travel money card to tap and pay in stores and restaurants, with a wallet like Apple Pay, or to make ATM withdrawals so you'll always have a bit of cash in your pocket when you travel.

Although there are lots of different travel money cards on the market, all of which are unique, one similarity you'll spot is that the features and fees have always been optimised for international use. That might mean you get a better exchange rate compared to using your normal card overseas, or that you run into fewer fees for common international transactions like ATM withdrawals.

Travel money cards also offer distinct benefits when it comes to security. Your travel money card isn't linked to your Australian dollar everyday account, so even if you were unlucky and had your card stolen, your primary bank account remains secure.

Travel money vs prepaid card vs travel credit card

It's helpful to know that you'll be able to pick from several different types of travel cards, depending on your priorities and preferences. Travel cards commonly include:

• Travel debit cards
• Travel prepaid cards
• Travel credit cards

They all have distinct benefits when you head off to Iceland or elsewhere in the world, but they do work a bit differently.

Travel debit and prepaid cards are usually linked to an online account, and may come from specialist digital providers - like the Wise card. These cards are usually flexible and cheap to use. You'll be able to manage your account and card through an app, although you can also often add money in person by visiting a branch - we've picked out the Westpac travel card and the Travelex travel card as popular prepaid cards with a branch network in Australia, for example.

Travel credit cards are different and may suit different customer needs. As with any other credit card, you may need to pay an annual fee or interest and penalties depending on how you manage your account - but you could also earn extra rewards when spending in a foreign currency, or travel benefits like free insurance for example. Generally using a travel credit card can be more expensive compared to a debit or prepaid card - but it does let you spread out the costs of your travel across several months if you'd like to and don't mind paying interest to do so.

What is a prepaid travel money card best for?

Let's take a look at the advantages of using a prepaid travel money card for travellers going to Iceland. While each travel card is a little different, you'll usually find some or all of the following benefits:

• Hold and exchange foreign currencies - allowing you to lock in exchange rates and set a travel budget before you leave
• Convenient for spending in person and through mobile wallets like Apple Pay, as well as for cash withdrawals
• You may find you get a better exchange rate compared to your bank - and you'll usually be able to avoid any foreign transaction fee, too
• Travel cards are secure as they're not linked to your everyday AUD account - and because you can make ATM withdrawals when you need to, you can also avoid carrying too much cash at once

Overall, travel cards offer flexible and low cost ways to avoid bank foreign transaction and international ATM fees, while accessing decent exchange rates.

How to choose the best travel card for Iceland

We've picked out 6 great travel cards available in Australia - but there are also more options available, which can make choosing a daunting task. Some things to consider when picking a travel card for Iceland include:

• What exchange rates does the card use? Choosing one with the mid-market rate or as close as possible to it is usually a smart plan
• What fees are unavoidable? For example, ATM charges or top up fees for your preferred top up methods
• Does the card support a good range of currencies? Getting a card which allows you to hold and spend in EUR can give you the most flexibility, but it's also a good idea to pick a card with lots of currency options, so you can use it again in future, too
• Are there any other charges? Check in particular for foreign transaction fees, local ATM withdrawal fees, inactivity fees and account close fees

Ultimately the right card for you will depend on your specific needs and preferences. If you're looking for a low cost card with the mid-market rate, which you can use in 150+ countries, the Wise card may be a good fit. If you'd prefer to pay a monthly fee to get higher no-fee transaction limits, take a look at Wise. And if you need to get a card in a hurry, check out a travel card from a provider with a physical branch network, like the Westpac card or the Travelex travel money card.

What makes a good travel card for Iceland

The best travel debit card for Iceland really depends on your personal preferences and how you like to manage your money.

Overall, it pays to look for a card which lets you minimise fees and access favourable exchange rates - ideally the mid-market rate. While currency exchange rates do change all the time, the mid-market rate is a good benchmark to use as it’s the one available to banks when trading on wholesale markets. Getting this rate, with transparent conversion fees, makes it easier to compare costs and see exactly what you’re paying when you spend in EUR.

Other features and benefits to look out for include low ATM withdrawal fees, complimentary travel insurance, airport lounge access or emergency cash if your card is stolen. It’s also important to look into the security features of any travel card you might pick for Iceland. Look for a card which uses 2 factor authentication when accessing the account app, which allows you to set instant transaction notifications, and which has easy ways to freeze, unfreeze and cancel your card with your phone.

For Iceland in particular, choosing a card which offers contactless payments and which is compatible with mobile wallets like Apple Pay could be a good plan. Card payments are extremely popular in Iceland - so having a card which lets you tap and pay easily can speed things up and make it more convenient during your trip.

Ways to pay in Iceland

Cash and card payments - including contactless, mobile wallet, debit, credit and prepaid card payments - are the most popular ways to pay globally.

In Iceland card payments are common in most situations. You’ll be able to make Chip and PIN or contactless payments or use your favourite mobile wallet like Apple Pay to tap and pay on the go. It’s still worth having a little cash on you just in case - and for the odd situations where cash is more convenient, such as when tipping or buying a small item in a market.

Which countries use EUR?

If you have EUR, you should be able to use it in a few countries. You may decide to keep your travel card topped up with a balance for this trip to Iceland or for the next time you’re headed somewhere which uses EUR.

What should you be aware of when travelling to Iceland

You’re sure to have a great time in Iceland - but whenever you’re travelling abroad it's worth putting in a little advance thought to make sure everything is organised and your trip goes smoothly. Here are a few things to think about:

1. Double check the latest entry requirements and visas - rules can change abruptly, so even if you’re been to Iceland before it’s worth looking up the most recent entry requirements so you don’t have any hassle on the border

2. Plan your currency exchange and payment methods - you can change AUD to EUR before you travel to Iceland if you’d like to, but as card payments are common, and ATMs widely available, you can actually leave it until you arrive to get everything sorted as long as you have a travel money card. Top up your travel money card in AUD and either exchange to EUR in advance or at the point of payment, and make ATM withdrawals whenever you need cash. Bear in mind that currency exchange at the airport will be expensive - so hold on until you reach Iceland to make an ATM withdrawal in EUR if you can.

3. Get clued up on any health or safety concerns - get travel insurance before you leave Australia so you have peace of mind. It’s also worth reading up on any common scams or issues experienced by tourists. These tend to change over time, but may include things like rip off taxis or tour agents which don’t offer fair prices or adequate services.

Conclusion - Best travel cards for Iceland

Ultimately the best travel card for your trip to Iceland will depend on how you like to manage your money. Use this guide to get some insights into the most popular options out there, and to decide which may suit your specific needs.

FAQ - best travel cards for Iceland

When you use a travel money card you may find there’s an ATM withdrawal fee from your card issuer, and there may also be a cost applied by the ATM operator. Some of our travel cards - like the Wise and Revolut card options - have some no fee ATM withdrawals every month, which can help keep down costs.

Travel money cards may be debit, prepaid or credit cards. Which is best for you will depend on your personal preferences. Debit and prepaid cards are usually pretty cheap and secure to spend with, while credit cards may have higher fees but often come with extra perks like free travel insurance and extra reward points.

There’s no single best prepaid card for international use. Look out for one which supports a large range of currencies, with good exchange rates and low fees. This guide can help you compare some popular options, including Wise, Revolut and Westpac.

Yes, you can use your local debit card when you’re overseas. However, it’s common to find extra fees apply when spending in foreign currencies with a regular debit card. These can include foreign transaction fees and international ATM charges.

Usually having a selection of ways to pay - including a travel card, your credit or debit card, and some cash - is the best bet. That means that no matter what happens, you have an alternative payment method you can use conveniently.

Yes. Most travel debit cards have options to make ATM withdrawals. Check the fees that apply as card charges do vary a lot. Some cards have local and international fees on all withdrawals, while others like Wise and Revolut, let you make some no fee withdrawals monthly before a fee kicks in.

Both Visa and Mastercard are globally accepted. Look out for the logo on ATMs and payment terminals in Iceland.

The cards you see on this page are ordered as follows:

For card providers that publish their exchange rates on their website, we used their AUD / EUR rate to calculate how much Euro you would receive when exchanging / spending $6,000 AUD. The card provider offering the most EUR is displayed at the top, the next highest below that, and so on.

The rates were collected at 15:54:21 GMT on 19 February 2024.

Below this we display card providers for which we could not verify their exchange rates. These are displayed in alphabetical order.

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3 Best Travel Cards for Iceland

Getting an international travel card before you travel to Iceland can make it cheaper and more convenient when you spend in Icelandic Króna. You'll be able to easily top up your card in CAD before you leave Canada, to convert seamlessly to ISK for secure and flexible spending and withdrawals.

This guide walks through our picks of the 3 best travel cards available for anyone from Canada heading to Iceland, like Wise, BMO or KOHO. We'll walk through a head to head comparison, and a detailed look at their features, benefits and drawbacks.

3 best travel money cards for Iceland:

Let's kick off our roundup of the best travel cards for Iceland with a head to head comparison on important features. Here's an overview of the providers we've picked to look at, for customers looking for ways to spend conveniently overseas when travelling from Canada:

Each of the international travel cards we’ve picked out have their own features and fees, which may mean they suit different customer needs. Keep reading to learn more about the features, advantages and disadvantages of each - plus a look at how to order the travel card of your choice before you head off to Iceland.

Wise travel card

Open a Wise account online or in the Wise app, to order a Wise travel card you can use for convenient spending and withdrawals in Iceland. Wise accounts can hold 40+ currencies, so you can top up in CAD easily from your bank or using your card. Whenever you travel, to Iceland or beyond, you’ll have the option to convert to the currency you need in advance if it’s supported for holding a balance, or simply let the card do the conversion at the point of payment.

In either case you’ll get the mid-market exchange rate with low, transparent fees whenever you spend in ISK, plus some free ATM withdrawals every month - perfect if you’re looking for easy ways to arrange your travel cash.

Wise features

Wise travel card pros and cons.

• Hold and exchange 40+ currencies with the mid-market rate
• Spend seamlessly in ISK when you travel
• Some free ATM withdrawals every month, for those times only cash will do
• Ways to receive payments to your Wise account conveniently
• Manage your account and card from your phone
• ATM fees apply once you've exhausted your monthly free withdrawals
• Physical cards may take 14 days to arrive (you can use your virtual card right away)

How to apply for a Wise card

Here’s how to apply for a Wise account and order a Wise  travel card in Canada:

Open the Wise app or desktop site

Select Register and confirm you want to open a personal account

Register with your email, Facebook, Apple or Google ID

Upload your ID document to complete the verification step

Tap the Cards tab to order your card

Confirm your mailing address, and your card will be on the way, and should arrive in 14 days

BMO travel card

If you’re looking for a card from a major bank for spending in Iceland, you may be considering BMO. There are a few different card options which may appeal to travellers, including a prepaid card which allows you to top up in CAD and spend in ISK with a foreign transaction fee. This is a useful product when overseas as it’s not linked to your normal bank account - but the fees do push up costs overall.

Alternatively, check out the BMO credit card options - these are helpful if you want to spread the costs of your travel over a few months, but can also come with their own fees and charges.

BMO features

Bmo travel card pros and cons.

• Selection of cards including credit and prepaid options
• Not linked to your everyday account which can be more secure when spending overseas
• Various perks available depending on the card you pick
• Full range of banking services available
• 2.5% foreign transaction fee for prepaid card
• 6.95 CAD annual fee for prepaid card - credit cards are also likely to have an annual fee
• ATM fees and cash advance charges apply

How to apply for a BMO card

Here’s how to apply for a BMO account and order a travel card in Canada:

Visit the BMO website or app

Select the card you want - for a prepaid Mastercard there’s no credit check, spo ordering is quick and easy

Tap Apply now and complete the details as prompted

Pay any annual fee required

Your card will be mailed to you

KOHO travel card

KOHO has several different cards which could be handy for spending in Iceland. There are basic KOHO card options which have a foreign transaction fee of 1.5%, or you can choose to upgrade to a card with a monthly fee which may mean your foreign transaction fee is either waived or reduced. You’ll need to top up a balance in CAD, and there’s no option to switch over to ISK before you travel - but you can easily keep an eye on all your transactions and the applied exchange rates in the KOHO app.

KOHO features

Koho travel card pros and cons.

• Various cards available depending on your needs
• Widely accepted
• Some accounts offer extra perks like no foreign transaction fee or cash back
• Virtual cards available
• 1.5% foreign transaction fee for the basic card
• ATM fees apply when overseas, which vary depending on the ATM operator
• Some accounts have monthly fees

How to apply for a KOHO card

Here’s how to apply for a KOHO account and order a travel card in Canada:

Visit the KOHO website or app

Select the card you want to apply for

Tap Open account and complete the details as prompted

Your card will be mailed to you once your account has been verified and any required fee has been settled

What is a travel money card?

A travel money card is a card you can use for secure and convenient payments and withdrawals overseas.

You can use a travel money card to tap and pay in stores and restaurants, with a wallet like Apple Pay, or to make ATM withdrawals so you'll always have a bit of cash in your pocket when you travel.

Although there are lots of different travel money cards on the market, all of which are unique, one similarity you'll spot is that the features and fees have always been optimised for international use. That might mean you get a better exchange rate compared to using your normal card overseas, or that you run into fewer fees for common international transactions like ATM withdrawals.

Travel money cards also offer distinct benefits when it comes to security. Your travel money card isn't linked to your Canadian dollar everyday account, so even if you were unlucky and had your card stolen, your primary bank account remains secure.

Travel money vs prepaid card vs travel credit card

It's helpful to know that you'll be able to pick from several different types of travel cards, depending on your priorities and preferences. Travel cards commonly include:

• Travel debit cards
• Travel prepaid cards
• Travel credit cards

They all have distinct benefits when you head off to Iceland or elsewhere in the world, but they do work a bit differently.

Travel debit and prepaid cards are usually linked to an online account, and may come from specialist digital providers - like the Wise card. These cards are usually flexible and cheap to use. You'll be able to manage your account and card through an app, although you can also often add money in person by visiting a branch, if the card provider has in-person branches.

Travel credit cards are different and may suit different customer needs. As with any other credit card, you may need to pay an annual fee or interest and penalties depending on how you manage your account - but you could also earn extra rewards when spending in a foreign currency, or travel benefits like free insurance for example. Generally using a travel credit card can be more expensive compared to a debit or prepaid card - but it does let you spread out the costs of your travel across several months if you'd like to and don't mind paying interest to do so.

What is a prepaid travel money card best for?

Let's take a look at the advantages of using a prepaid travel money card for travellers going to Iceland. While each travel card is a little different, you'll usually find some or all of the following benefits:

• Hold and exchange foreign currencies - allowing you to lock in exchange rates and set a travel budget before you leave
• Convenient for spending in person and through mobile wallets like Apple Pay, as well as for cash withdrawals
• You may find you get a better exchange rate compared to your bank - and you'll usually be able to avoid any foreign transaction fee, too
• Travel cards are secure as they're not linked to your everyday CAD account - and because you can make ATM withdrawals when you need to, you can also avoid carrying too much cash at once

Overall, travel cards offer flexible and low cost ways to avoid bank foreign transaction and international ATM fees, while accessing decent exchange rates.

How to choose the best travel card for Iceland

We've picked out 3 great travel cards available in Canada - but there are also more options available, which can make choosing a daunting task. Some things to consider when picking a travel card for Iceland include:

• What exchange rates does the card use? Choosing one with the mid-market rate or as close as possible to it is usually a smart plan
• What fees are unavoidable? For example, ATM charges or top up fees for your preferred top up methods
• Does the card support a good range of currencies? Getting a card which allows you to hold and spend in ISK can give you the most flexibility, but it's also a good idea to pick a card with lots of currency options, so you can use it again in future, too
• Are there any other charges? Check in particular for foreign transaction fees, local ATM withdrawal fees, inactivity fees and account close fees

Ultimately the right card for you will depend on your specific needs and preferences. If you're looking for a low cost card with the mid-market rate, which you can use in 150+ countries, the Wise card may be a good fit. If you'd prefer to pay a monthly fee to get higher no-fee transaction limits, take a look at Wise. And if you need to get a card in a hurry, check out a travel card from a provider with a physical branch network, or your high-street bank.

What makes a good travel card for Iceland

The best travel debit card for Iceland really depends on your personal preferences and how you like to manage your money.

Overall, it pays to look for a card which lets you minimise fees and access favourable exchange rates - ideally the mid-market rate. While currency exchange rates do change all the time, the mid-market rate is a good benchmark to use as it’s the one available to banks when trading on wholesale markets. Getting this rate, with transparent conversion fees, makes it easier to compare costs and see exactly what you’re paying when you spend in ISK.

Other features and benefits to look out for include low ATM withdrawal fees, complimentary travel insurance, airport lounge access or emergency cash if your card is stolen. It’s also important to look into the security features of any travel card you might pick for Iceland. Look for a card which uses 2 factor authentication when accessing the account app, which allows you to set instant transaction notifications, and which has easy ways to freeze, unfreeze and cancel your card with your phone.

For Iceland in particular, choosing a card which offers contactless payments and which is compatible with mobile wallets like Apple Pay could be a good plan. Card payments are extremely popular in Iceland - so having a card which lets you tap and pay easily can speed things up and make it more convenient during your trip.

Ways to pay in Iceland

Cash and card payments - including contactless, mobile wallet, debit, credit and prepaid card payments - are the most popular ways to pay globally.

In Iceland card payments are common in most situations. You’ll be able to make Chip and PIN or contactless payments or use your favourite mobile wallet like Apple Pay to tap and pay on the go. It’s still worth having a little cash on you just in case - and for the odd situations where cash is more convenient, such as when tipping or buying a small item in a market.

Which countries use ISK?

If you have ISK, you should be able to use it in a few countries. You may decide to keep your travel card topped up with a balance for this trip to Iceland or for the next time you’re headed somewhere which uses ISK.

What should you be aware of when travelling to Iceland

You’re sure to have a great time in Iceland - but whenever you’re travelling abroad it's worth putting in a little advance thought to make sure everything is organised and your trip goes smoothly. Here are a few things to think about:

1. Double check the latest entry requirements and visas - rules can change abruptly, so even if you’re been to Iceland before it’s worth looking up the most recent entry requirements so you don’t have any hassle on the border

2. Plan your currency exchange and payment methods - you can change CAD to ISK before you travel to Iceland if you’d like to, but as card payments are common, and ATMs widely available, you can actually leave it until you arrive to get everything sorted as long as you have a travel money card. Top up your travel money card in CAD and either exchange to ISK in advance or at the point of payment, and make ATM withdrawals whenever you need cash. Bear in mind that currency exchange at the airport will be expensive - so hold on until you reach Iceland to make an ATM withdrawal in ISK if you can.

3. Get clued up on any health or safety concerns - get travel insurance before you leave Canada so you have peace of mind. It’s also worth reading up on any common scams or issues experienced by tourists. These tend to change over time, but may include things like rip off taxis or tour agents which don’t offer fair prices or adequate services.

Conclusion - Best travel cards for Iceland

Ultimately the best travel card for your trip to Iceland will depend on how you like to manage your money. Use this guide to get some insights into the most popular options out there, and to decide which may suit your specific needs.

FAQ - best travel cards for Iceland

When you use a travel money card you may find there’s an ATM withdrawal fee from your card issuer, and there may also be a cost applied by the ATM operator. Some of our travel cards - like the Wise card - have some no fee ATM withdrawals every month, which can help keep down costs.

Travel money cards may be debit, prepaid or credit cards. Which is best for you will depend on your personal preferences. Debit and prepaid cards are usually pretty cheap and secure to spend with, while credit cards may have higher fees but often come with extra perks like free travel insurance and extra reward points.

There’s no single best prepaid card for international use. Look out for one which supports a large range of currencies, with good exchange rates and low fees. This guide can help you compare some popular options, including Wise, BMO or KOHO.

Yes, you can use your local debit card when you’re overseas. However, it’s common to find extra fees apply when spending in foreign currencies with a regular debit card. These can include foreign transaction fees and international ATM charges.

Usually having a selection of ways to pay - including a travel card, your credit or debit card, and some cash - is the best bet. That means that no matter what happens, you have an alternative payment method you can use conveniently.

Yes. Most travel debit cards have options to make ATM withdrawals. Check the fees that apply as card charges do vary a lot. Some cards have local and international fees on all withdrawals, while others like Wise let you make some no fee withdrawals monthly before a fee kicks in.

Both Visa and Mastercard are globally accepted. Look out for the logo on ATMs and payment terminals in Iceland.

The cards you see on this page are ordered as follows:

For card providers that publish their exchange rates on their website, we used their CAD / ISK rate to calculate how much Icelandic Króna you would receive when exchanging / spending $5,000 CAD. The card provider offering the most ISK is displayed at the top, the next highest below that, and so on.

The rates were collected at 15:54:21 GMT on 19 February 2024.

Below this we display card providers for which we could not verify their exchange rates. These are displayed in alphabetical order.

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More travel card guides.

Guide to the Icelandic Krona (with a currency converter!)

Currency exchange widget

Faqs about the currency in iceland, what is the currency used in iceland, can i use foreign currency in iceland, where can i exchange currency in iceland, is it better to exchange currency in iceland or before arriving.

• What is the exchange rate for Icelandic króna?

Are credit cards widely accepted in Iceland?

• Can I withdraw Icelandic króna from ATMs in Iceland?
• Can I exchange Icelandic króna back to my home currency?

Is it safe to carry cash in Iceland?

Money in iceland: the icelandic krona, the icelandic krona and other krona currencies in europe, history of the currency of iceland, icelandic currency through the ages.

• Iceland's Currency Crisis in 2008

Historical Figures Gracing the Icelandic Krona Banknotes

Jon sigurdsson - 500 krona, brynjolfur sveinsson - 1,000 krona, johannes kjarval - 2,000 krona, ragnheidur jonsdottir - 5,000 krona, jonas hallgrimsson - 10,000 krona.

• How Much Does It Cost to Stay in Iceland?

Tips for Saving Money in Iceland

Book everything in advance, take the bus when possible, stay at a campsite or a hostel instead of a hotel, always bring a refillable water bottle.

• Useful Information About Currency in Iceland

Credit Cards vs. Money

Exchanging your currency, atms in iceland, about tipping in iceland, shopping tax-free, frequently asked questions about money in iceland.

• Can You Use Euro in Iceland?
• What's the Best Currency To Bring to Iceland?

How Much Money Should You Bring When You Go to Iceland?

What are the different ways to pay in iceland.

Iceland is a small island nation in western Europe famous for its breathtaking beauty and high volcanic activity . The country is home to spectacular nature , like beautiful waterfalls, hot springs , black sand beaches, and many more natural wonders.

But Iceland is also famous for being an expensive destination to visit. Therefore, it's essential for you to learn everything you need to know about the money and currency in Iceland before you go. And see this article about the best  cheap things to do in Reykjavik , the capital of Iceland.

Use this widget to compare the currency exchange rate of the Icelandic króna to more than 50 other currencies. By entering the amount you can also figure out the total price of items listed in Icelandic króna. In the website header, you can also choose to change all prices on our website to your preferred currency. 

The currency used in Iceland is the Icelandic króna (ISK).

It is not recommended to use foreign currency in Iceland as it may not be accepted. It is best to exchange your currency for Icelandic króna.

You can exchange currency at banks, exchange offices, and some hotels in Iceland. There are also ATMs available in most towns and cities.

It is recommended to exchange your currency for Icelandic króna before arriving in Iceland to avoid unfavorable exchange rates. If you need to change the currency in Iceland, you should avoid doing so at the airport, where the exchange rates are less favorable than in other banks.

What is the exchange rate for Icelandic króna?

The exchange rate for Icelandic króna varies depending on the currency and exchange location, but as of March 2023, one US dollar (USD) is equivalent to around 136 ISK. For the latest and most up-to-date information about the exchange rate of the Icelandic króna, we recommend checking the Icelandic central bank website or using the widget below.

Yes, credit cards are widely accepted in Iceland, especially Visa and Mastercard. However, it is still recommended to carry some cash for small purchases.

Can I withdraw Icelandic króna from ATMs in Iceland?

Yes, you can withdraw Icelandic króna from ATMs in Iceland. However, some ATMs may charge a withdrawal fee.

Can I exchange Icelandic króna back to my home currency?

Yes, you can exchange Icelandic króna back to your home currency at banks and exchange offices in Iceland. But it is recommended that you do so while in Iceland, as your local bank might not be able to exchange Icelandic króna.

Iceland is generally a safe country, but it is still recommended to be cautious when carrying cash and to keep it in a secure place.

Learning about the currency of Iceland is crucial if you're planning to visit the country. Knowing about it can help you with the most practical stuff, like knowing how much to pay for your transportation fee, how to  shop for groceries , and how to avoid the worst tourist traps .

The official currency of Iceland, the Icelandic krona, can be written as ISK or with the currency symbol kr. Krona is the singular form of the currency, while kronur is its plural form.

The Icelandic krona comes in both coins and bills or banknotes. The coins come in five denominations of 1, 5, 10, 50, and 100 kronur.

Photo from  Wikimedia, Creative Commons, by Thorsten Schmidt.  No edits made.

Regarding the bills, they also come in five denominations but in higher amounts. These denominations are 500, 1,000, 2,000, 5,000, and 10,000.

The Central Bank of Iceland manages and issues the currency of Iceland. They're also in charge of maintaining the country's financial policies and stability.

The Icelandic krona is used in Iceland. However, note that the term is also used in other European countries, especially in other Scandinavian nations, such as Sweden, Denmark, and Greenland.

In Sweden, they use the Swedish krona, while in Greenland and Denmark, they use the Danish krone. Although they sound almost the same, note that Iceland's currency differs from the countries mentioned above.

Aside from being called the Icelandic krona, the currency of Iceland is not pinned to another currency. For example, the Danish krone used by Greenland and Denmark is tied to the Euro. As a result, Iceland's currency is better controlled by its nation.

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Iceland was a territory of Denmark from the 14th century to the 19th century. However, it was only in the 1870s that the Danish krone was introduced in the country after replacing an older Danish currency, the rigsdaler.

At the beginning of the 20th century, Iceland became autonomous from Denmark. As a result, the Icelandic government started issuing the Icelandic krona, making it its official currency.

You can learn more about Denmark and Iceland's story through this  complete history of Iceland .

Iceland has been issuing banknotes since 1885. Its first banknotes are the 5, 10, and 50 kronur. However, it was only in the 1920s that Iceland started issuing coins, beginning with the 10 and 25 aurar (now obsolete).

In 1925 and 1926, five more coin denominations were added. These denominations are:

- 5 aurar 

After the second world war, in 1946, the Icelandic currency's coins were redesigned to remove the royal monogram of Denmark. 

In 1981, Iceland revalued its currency and added new coins in 5, 10, and 50 aurar denominations. However, in 2003, all coins denominated in the aurar were taken out of circulation. 

Iceland's Currency Crisis in 2008

Iceland is now one of the most livable countries in the world. However, did you know it experienced a financial crisis in early 2008? 

In 2008, the world experienced a global financial crisis, significantly affecting many countries, including Iceland. 

Three of Iceland's primary banks collapsed, resulting in the country's economic slump. Other factors, such as the banks' inability to finance short-term loans and people simultaneously withdrawing their money due to fear, added to the problem. 

In addition, Iceland's currency lost a lot of value against the Euro before eventually collapsing. 

Due to these difficulties, the country got emergency funding from the International Monetary Fund (IMF), and currency training was restricted. 

The changes were able to help the country get back on its feet, and Iceland's currency has remained stable. 

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Currently, Iceland's currency has five banknotes in circulation. 

If you look closely, you'll notice that each bill features an image of a person. These people are some of Iceland's most famous and prominent historical figures. 

Meanwhile, activities or locations related to the main figure in the banknote are on the other side of each Icelandic krona bill. 

Here are the names and contributions of these historical figures to Iceland. 

Jon Sigurdsson, a statesman, is one of the leading figures in Iceland's independence movement against Denmark in the 19th century. He's also a scholar who has compiled stories and documents of the Old Norse sagas and created a crucial part of Icelandic literature , the Icelandic Sagas.

The banknote is color red. 

On one side of the banknote, you'll see Sigurdsson. However, on its back is a usual scene when he was alive, with him writing on his desk, surrounded by books, and a tapestry behind him. 

Brynjolfur Sveinsson is a bishop in the 17th century known for his intelligence and stubbornness. Aside from that, he's a champion of the clergy and advocates the rights of the people involved. 

In some writings, he's described as a genius debater and is said to help build a church in Skalholt, improve it, and get excellent instructors. 

The 1,000 krona banknote has a predominantly purple color on a multicolored underprint. 

On one side of the note is Sveinsson, and on its back is the Brynjolfskirkja church at Skalholt town . 

Johannes Kjarval was a pioneer of Icelandic art in the 20th century and one of the most revered artists in Iceland. He created thousands of artworks, including his interpretation of Iceland's nature. Many of these are displayed at the Kjarvalsstadir art museum . 

Hist artworks include styles from various art movements, such as expressionism, abstract, and cubism. 

The 2,000 krona banknote has a blue-violet and yellow print. 

At the front is an image of Kjarval and a detail from his "Outside and Inside" painting. Meanwhile, at the back are details from his artworks, "Yearning for Flight" and "Woman and Flowers." 

Ragnheidur Jonsdottir was a beloved 17th Century embroiderer who was married to a bishop. In these times, bishops and their families were some of the most influential people in the country.

The 5000 krona denomination is the only currency in Iceland with a woman figure printed on it. 

At the front is Jonsdottir, with his husband, and the two earlier wives of her husband. Meanwhile, at the back is Jonsdottir, instructing two girls on embroidery.

Jonas Hallgrimsson is one of the most admired poets in Iceland. He's a Romantic poet who helped usher in a new movement in Iceland's poetry scene. 

He also helped found the Icelandic magazine, Fjolnir, invoking nationalism in the citizen to resist the Danish rule during his time. 

The banknote has a predominantly blue color. 

At the front is an image of Hallgrimsson. Meanwhile, on the other side is an illustration of a plover bird and his poem, "Skjaldbreidur Mountain." 

How Much Does It Cost to Stay in Iceland? 

Aside from housing, food can be expensive in Iceland because the country greatly relies on imported goods. 

Meanwhile, the estimated cost for foreign visitors can vary between 100 USD and 200 USD per day. The price depends on the type of accommodation, transportation, and meals. 

On accommodations, it can cost as low as 35 USD per night or as high as 300 USD per night. Depending on the area, and amenities of each accommodation, the price can still go higher or lower. 

Food at an inexpensive restaurant can cost around 17 USD per meal. 

When riding Reykjavik city buses , a single ticket costs around 3 USD, while for those using a rental car, the gas can cost about 2 USD per liter. 

Fortunately, there are many affordable ways to enjoy Iceland. You can swim in its hot springs, join affordable sightseeing tours , or independently hunt for the beautiful northern lights in Iceland . 

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If you want to explore, make sure to book everything in advance. This includes renting a car in Iceland , booking a tour, and even booking airport transfers . 

When you book in advance, you have more time to compare different options and get the cheapest offer. Also, the earlier you book, the better deal you'll get from various car rental and travel companies.

You can also check our affordable car rentals in Iceland if you want to start looking for one now. 

Car rentals are one of the best ways to travel and reach different parts of Iceland. However, if you're traveling alone, car rentals can be expensive. Fortunately, you can also travel by bus. 

Straeto buses operate across Reykjavik city and in many famous sights in the countryside. 

You can pay using your debit or credit card and cash when you board a bus in Reykjavik.

There are also busses that take you directly to your chosen destination. For example, this Blue Lagoon transportation from Keflavik airport allows convenient transfer at an affordable price. 

There are many hotels in Iceland. However, hotels in Iceland can be expensive and too much if you're trying to budget.  

If you want to stay at a place for a lower cost, check out campsites or hostels in Iceland. These options can help you cut your accommodation expenses by almost half. 

Hostels often have a common area, which allows you to make friends on your travel, and a kitchen so you can cook your meals.

Meanwhile, campsites are a great place to stay if you want to visit Iceland's natural attractions and immerse in them. Aside from being affordable, campsites have their own bathroom, showers, and electricity. Many are even nearby shops and restaurants. 

Check out our guide to camping in Iceland if you want to learn more about it. 

Bring a refillable water bottle or container anywhere you go so you can save money by not buying from the store. 

Whether planning to go on an outing or stay at a paid accommodation, having your own water container can help save you money. 

Tap water in Iceland is clean and safe, so refill your water bottle as often as possible. 

When outside, for example, on a trekking journey, there are also water sources you can use to refill your water.

Useful Information About Currency in Iceland 

Knowing the standard practices in Iceland regarding money ensures less hassle on your part and better planning before your trip.

Learn what those practical pieces of information are so that you can apply them during your trip. 

Cash is accepted in Iceland. However, most people who travel to Iceland, and even the locals, prefer to pay through a credit or debit card than cash. 

Businesses, even with small purchases, accept cards. 

For credit cards, most businesses in Iceland accept major credit cards such as VISA and MasterCard. Meanwhile, not all businesses accept American Express. For debit cards, many accept Electron and Maestro cards.

If you prefer to bring cash, there are ATMs you can use to withdraw money. Fortunately, ATMs are available anywhere in Iceland. 

You can also exchange money from your home country before traveling to Iceland. 

The best place to exchange your currency in Iceland is through banks. 

As soon as you land in Iceland at the Keflavik International Airport (KEF), you can change your currency at the Arion Bank. 

If you have a direct transfer to Reykjavik, there're many regular banks you can go to exchange your money, such as Arion Bank, Islandsbanki, and Landsbankinn. 

Many Automated Teller Machines (ATMs) are available in Iceland, from its big cities to even its smaller villages. However, many of them are situated in the capital city of Reykjavik and at the Keflavik International Airport. 

Tipping is not mandatory in Iceland. However, if you want to give tips to the service crew of the establishments you visit, you're free to do so. 

Tour guides, in particular, appreciate being tipped.

Often, the total amount in many bills already includes service charges. In addition, Iceland's workers make decent wages in most industries. Thus, tipping is not as crucial as in other countries such as the US. 

Foreign visitors are entitled to a VAT-free purchase of at least 6,000 ISK for a single receipt when shopping in Iceland. 

However, note that this is limited to purchases meant to be taken out of the country. 

To get a tax refund, visitors should get a Tax Refund Cheque at the store counter after purchase. 

Before flying out of Iceland, at the Keflavik International Airport, visitors can cash their cheques in the currency of their choice. 

Here are the answers to some of the commonly asked questions people ask about Iceland's currency.

Can You Use Euro in Iceland? 

Yes, you can use Euro in Iceland, but in limited places only. 

Iceland is not part of the European Union (EU), so it doesn't use Euro as its currency. However, there are few businesses, especially the ones near the business center, that accept Euro, as well as US dollars. Since that's the case, bringing Euro currencies won't be practical when you visit the country. 

Moreover, the value of Iceland's currency is higher than that of the Euro or even the US dollar. That's why it can be difficult to convert them mentally or while you're on the go. 

What's the Best Currency To Bring to Iceland?

It's best to bring the Icelandic krona when you visit Iceland since only a few business establishments accept other currencies.

The short answer is the less money you bring, the better since most merchants in Iceland use cards. However, if we're talking about how much budget you should have while in Iceland, the answer is around 700 USD to 1,365 USD per person for one week. 

This estimated amount is based on various expenses, including accommodation, food, and gas price. 

Most establishments in Iceland accept credit and debit cards for payment and cash. 

Aside from those, prepaid cards, such as prepaid Visa cards, Apple Pay, and Google Pay, are also accepted in some establishments in Iceland. 

We hope this article helps shed light on all of your questions about Iceland's currency. In addition, we hope that the tips are enough so you can plan for the best Icelandic vacation. You can also check out our article on the best things to do in Iceland  or the top five destinations in Iceland to help you plan. 

Let us know if there are more questions you need to be answered. Don't hesitate to leave your comments and queries below. 

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Where to Get Icelandic Krona in the USA Without Huge Fees

Jarrod Suda

A writer and editor at Monito, Jarrod is passionate about helping people apply today’s powerful finance technologies to their lives. He brings his background in international affairs and his experiences living in Japan to provide readers with comprehensive information that also acknowledges the local context.

Links on this page, including products and brands featured on ‘Sponsored’ content, may earn us an affiliate commission. This does not affect the opinions and recommendations of our editors.

Preparing for your travels to Iceland? You may be wondering whether you should prepare some Icelandic Krona in cash prior to your departure, or if its cheaper to simple use your cards in Iceland after arrival.

In this guide, we will explore the best overall place to get Icelandic Krona online in the USA, which is with a travel money card like Revolut or Wise . If you'd like to simply withdraw Icelandic Krona in cash from an ATM in Iceland, we will explain how to do so without incurring unnecessary fees.

We'll cover the costs, and the pros and cons, involved for each method. By understanding your options and their fees up front, you can enjoy the peace of mind that you're getting the best deal for your situation.

We highly recommend Revolut 's travel debit card to buy Icelandic Krona in the USA cheaply. Revolut is a multi-currency account that allows you to hold and exchange US Dollars, Icelandic Krona, and over 30 other foreign currencies at industry-low, transparent fees and exchange rates. Best of all, you can easily do this online or straight from the app!

The Best Places to Buy Icelandic Krona in the USA

• 01. Icelandic Krona travel money card scroll down
• 02. ATMs abroad via travel debit card scroll down
• 03. Online foreign currency exchange scroll down
• 04. Traditional banks scroll down
• 05. Money changer kiosks scroll down
• 06. Airport kiosks scroll down
• 07. Summary: Where to buy Icelandic Krona in the USA scroll down

1. Icelandic Krona Travel Money Card

Travel money cards are prepaid debit cards that let you hold the local currency of your destination (ISK) so that ATMs and point-of-sale devices treat you like a local card holder. Simply top up your card balance in US Dollars and convert those balances to Icelandic Krona. Then use your card to pay with peace of mind like a local.

User-friendly fintech apps like Revolut and Wise far and away offer superior rates when compared to banks and bureau de change kiosks. Since you can download the apps and use their virtual cards directly onto your smartphone, we also consider them to be more convenient. Compare the in more detail with our in-depth prepaid travel card guide .

Revolut Account

Revolut charges no foreign transaction fees on the first $1,000 spent per month and no ATM fees on the first $1,000 per month, although fair use limits and weekend surcharges may apply. This ATM policy is far more generous than other competitors such as  Wise ,  Monzo , and  Monese . If you're in a rush, you'll still be able to access  Revolut's instant virtual card  from the app and add it Apple Pay, Google Pay, and other third-party digital wallets.

• Trust & Credibility 8.9
• Service & Quality 7.9
• Fees & Exchange Rates 8.3
• Customer Satisfaction 9.4

Wise Multi-Currency Account

Unlike banks, credit unions, airport kiosks, and  foreign ATMs , Wise is transparent about never charging a hidden exchange rate margin when you convert your dollars into euros (and 51 other currencies) with them. The live rate you see on Google or XE.com is the one you get with  Wise . Instead, they charge an industry-low commission fee, which ranges from 0.35% to 2.85%.

• Trust & Credibility 9.3
• Service & Quality 8.9
• Fees & Exchange Rates 7.6
• Customer Satisfaction 9.6

2. ATMs Abroad Using a Debit Card With No Foreign Transaction Fees

We recommend getting Icelandic Krona in cash from ATMs with debit cards because credit cards with charge you cash advance fees and high APR on ATM withdrawals. Plus, debit cards will use exchange rates set by your card network (like Visa and Mastercard ), which are near the mid-market rate.

Foreign transaction fees are fixed percentage fees (usually around 2.5%) that card issuers will tack on to the purchase price. These fees pile up when you travel and spend internationally, which is why you should always travel with a card that waives foreign transaction fees .

Travel Tip: Read more about the 5 best debit cards that waives international transaction fees .

Always Pay in the Local Currency

• When the point-of-sale machine or ATM in Iceland ask you to "Pay in ISK" or "Pay in USD", always opt to pay in the local currency: Pay in ISK.

Learn more about dynamic currency conversions .

3. Online Foreign Currency Exchange

Online foreign currency exchange services are convenient and can be reasonably priced if you order a few weeks in advance. Take note to not pay with a credit card because your card provider will treat it like a cash advance, which will incur fixed fees and APR costs. When you order Icelandic Krona in cash online, foreign exchange service providers will charge you two kinds of fees:

• Exchange Rate Margin:  Providers apply an exchange rate that is poorer than the true  "mid-market" exchange rate . They keep the difference, called an  exchange rate margin .
• Commission Fee:  This  fee  is usually a percentage of the amount converted, which is charged for the service provided.

In-Person Cash Pick-Up

Most services allow you to visit a local branch in your neighborhood to pick up your cash. This is usually a no-cost service.

Home Delivery

For added convenience, you can pay a delivery fee to have the money sent to your designated address on a set date and time.

4. Traditional Banks

Despite commonly heard advice, banks and credit unions are outdated currency exchange providers. Many banks offer foreign exchange services online, but you may need to be a client of the bank. You can pay by cash, card, or with your existing account balances.

For illustration, we found that Bank of America was converting €1,000 EUR into $1010.60 USD even though the  mid-market exchange rate  was at €1,000 EUR = $1,063.60 USD*. That's a markup worth $53.

*Exchange rates recorded on 22 September 2023 12:55 CEST.

We generally recommend against getting Icelandic Krona from your traditional bank or credit union.

5. Money Changer Kiosks

Money changers generally charge high exchange rate margins, like banks and online foreign exchange services. We tend to treat these providers in the same category as airport bureau de change. Even if they advertise "no commission," you will still incur the hidden cost of the exchange rate margin.

While these kiosks may be conveniently located in cities and tourist attractions, we recommend going to bank ATM instead, using a prepaid travel card or a debit card that waives foreign transaction fees .

6. Airport Bureau de Change Kiosks

While bureaux de change at airports in the USA may be convenient for last-second exchanges, they charge huge exchange rate margins and hefty commission fees. They should be avoided at all costs.

If you need cash for your trip to Iceland, we recommend that you withdraw cash from an ATM abroad, using a prepaid travel card or a debit card that waives foreign transaction fees .

Summary: Where to Get Icelandic Krona in the USA

Each method to get Icelandic Krona in the USA will have its conveniences and drawbacks depending on your situation.

Here is a summary of the best places to buy ISK with USD:

• Prepaid Travel Money Card: Compare the best travel money cards .
• ATM with Debit Card: The top 5 that waive foreign transaction fees .
• Online Foreign Currency Exchange Service: Learn about travel money .
• Traditional Banks: Explore bank currency exchange .
• Money Changer Kiosks: Find the best way to spend money abroad .
• Airport Bureau de Change: Use ATMs abroad as better alternatives .

Frequently Asked Questions About How to Get Icelandic Krona in the USA

We generally only recommend getting Icelandic Krona in the USA if you open a free multi-currency account from Revolut or Wise . If you want Icelandic Krona while in Iceland, then it is best to simply get cash from an ATM there.

You can use any of the 6 methods included in this article. We recommend travel money card, which let you hold ISK via a multi-currency account and spend them with a card.

Yes, you can exchange for Icelandic Krona at a bank in the USA. However, it is generally expensive because they may charge commission fees and very high exchange rate margins.

• Open an account with Revolut or Wise ;
• Access your account online by desktop or by smartphone;
• Top up USD onto the multi-currency account;
• Convert the USD to ISK using their industry-low rates.

It depends on your method. If you want to get Icelandic Krona in the USA, then we recommend you open an account with a multi-currency account like Revolut or Wise . If you want Icelandic Krona while in Iceland, then its best to get cash from an ATM.

Currency exchange rates are constantly in flux due to market fluctuations. This is why we recommend multi-currency account like Revolut or Wise . They have features that let you lock in a desired exchange rate, which will trigger a conversion if met by the mid-market rate.

Learn More About Where to Best Buy Foreign Currency in the USA

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Win a trip to Iceland

A Traveller’s Guide to Icelandic Money

• Tanja Rasmussen
• March 5, 2024

Share article

Since 1885, Iceland has had its own currency, called the Icelandic króna (ISK). It‘s had its ups and downs and is heavily debated at times , with some people rallying to swap it out for the Euro and others singing the praises of it. Nothing much has come from these wrangles, though, so for the foreseeable future, the Icelandic króna is here to stay. This is your guide to everything you need to know about it.

Are other currencies accepted in Iceland?

Other currencies than the Icelandic króna are not accepted in the country, so if you plan on paying in cash, you need to get some krónas. At the time of writing, currency exchange is not possible at Keflavík Airport, although the currency exchange service Change Group is preparing to open there soon . If you want to exchange your currency, you will have to do so in a bank outside the airport. Alternatively, you can opt to withdraw cash from an ATM. 

Icelandic banknotes and coins

There are five banknotes you might come across: 500, 1000, 2000, 5000, and 10,000. A 10,000 króna banknote [ $73, €67] is quite a large sum in the context of day-to-day things. For example, you could buy almost 15 croissants in an artisan bakery for that amount. In combination with the fact that relatively few locals pay with cash, this means that some businesses might not have enough change in their cash registers if you pay with a 10,000 króna banknote. It is, therefore, best to carry a variety of banknotes in your wallet. The Icelandic coins are five as well: 1, 5, 10, 50, and 100. 

Paying with cards in Iceland

Carrying cash is not a necessity in Iceland. Not accepting card or contactless payments, no matter how small the purchase, is an anomaly amongst Icelandic businesses. The biggest exception to this is the Reykjavík city bus system, where you need to pay with cash, have prepurchased tickets from one of these vendors or use the Klappið app. Other than that, it‘s highly unlikely that you‘ll run into trouble if you have a MasterCard or Visa. As elsewhere in the world, American Express cards are not accepted everywhere, but they can usually be used in hotels, popular restaurants, and supermarkets.

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2 minute read

• Related: Is Iceland expensive? Your budgeting guide .

What currency does Iceland use?

Iceland uses its own currency, the Icelandic króna (plural: krónur ). The currency symbol is ISK or kr.

See Landsbankinn for the latest exchange rates.

Can I use my card in Iceland?

International credit and debit cards are widely accepted using contactless (tap) payment or chip and PIN. The limit for contactless payments is ISK 7,500 per transaction.

It’s a good idea to make sure you know your PIN number, as you won’t be able to authorize with your signature.

Cards are accepted at most retailers, including small kiosks and market stalls, and at gas station pumps, parking meters, swimming pools, and elsewhere.

You’ll sometimes be asked if you prefer to pay in Icelandic krónur or your home currency. It’s almost always cheaper to pay in Icelandic krónur, as the exchange will be made by your bank and not the retailer.

Do I need cash in Iceland?

Card payments are preferred in most places in Iceland. Of course, it’s a good idea to take out some cash just in case you have issues with your card.

It’s normally cheapest to withdraw straight from an ATM or exchange cash at a local bank, rather than at the airport.

Do you tip in Iceland?

There’s generally no tipping culture in Iceland at restaurants , cafés, bars , and so on. That said, if you had a truly exceptional experience, a tip of around 10% would be gratefully received.

How much is VAT in Iceland?

VAT (or sales tax) in Iceland is 24% on most goods. On food and books, it’s 11%.

Can I shop tax-free in Iceland?

Yes! Participating retailers in Iceland will provide you with a tax-free receipt, which allows you to claim back most of the VAT on purchases of goods over ISK 6,000 when you leave the country.

Keep your receipts together for stamping at the airport, and post them in the envelope provided before you board your flight home.

You can shop tax-free regardless of where you’re from, the only requirement is that you’re not resident in Iceland.

• On a budget? Browse these wallet-friendly camping trips and multi-day bus tours .

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Can I use the Wise card in Iceland in 2024?

If you’re planning a trip to Iceland - or planning to move there to live, work or study - you’ve got an exciting time ahead. As the Icelandic Krona (ISK) is the official currency in Iceland you’ll need to find convenient ways to spend in ISK while you’re there.

This guide walks through how to use the Wise card in Iceland for convenient and secure transactions, and offers some handy hints about making your money go further when you’re abroad.

Can I use the Wise card in Iceland?

If you are a resident of the UK and have a Wise card - or if you’re thinking of getting one - you’re probably wondering: can I use my Wise card to pay for things in Iceland?

The answer is yes, you can use the Wise card for everyday spending in Iceland. You can use the card to pay for things in Icelandic Kronas with competitive exchange rates and low transaction fees. This guide walks through how you’ll be able to use your Wise card to help manage your travel spending.

How to order a Wise card

It’s easy to order your Wise card in the UK, and the whole process can be done from your phone or laptop. The most convenient option is to download the Wise app and get your Wise card that way. Here’s how:

Register a Wise Account in the Wise app, using your email address, Apple, Facebook or Google ID

Complete the verification step by snapping a photo of your ID and proof of address documents and uploading them

Add some money to your account in your preferred currency - there are various ways to pay, which you’ll see in the app

Navigate to the Cards tab and select the option to order your Wise card

Follow the prompts to add or confirm your shipping address, and your card will arrive in the mail

Can I get the Wise card in Iceland?

If you live in Iceland, the good news is that the Wise card is available for residents as long as they have the documents needed for verification - usually just an ID and a proof of local address.

What happens if I move to Iceland?

You can continue using your Wise card in Iceland; simply update your home address in the app. You may also be asked to provide proof of residence by Wise.

An alternative to Wise in Iceland: Revolut

Spend in ISK when visiting Iceland ✅

Available to residents of Iceland ✅

Trade crypto, stocks and commodities in your Revolut account 💰

Choose the Revolut account plan that suits your spending needs, including options with no monthly fees and others which have ongoing charges but unlock extra features. All accounts have a linked debit card - although the specific card you get may vary based on the account you pick.

Will my ATM card work in Iceland?

Yes. Access to ATMs shouldn’t be a problem during your stay in Iceland.

It’s good to know that Iceland is well developed and ATMs can be found in most towns and cities - you’ll only usually run into a problem if you’re heading somewhere really off the beaten path. If that’s the case, plan in advance and stock up on ISK from an ATM while you can.

Generally having and using a low cost ATM card when you’re in Iceland is convenient, reliable and secure. You can take out cash little and often to avoid the need to carry too much at any one time, and spend with your card in stores and restaurants. Keep more than one way to pay in your pocket at any given time, so you’re prepared no matter what happens.

How can I avoid ATM fees in Iceland?

Don’t pay more than you need to when using an ATM. Here are some hints to avoid unexpected ATM fees in Iceland:

Get a low cost ATM card which offers some free or cheap international withdrawals

Always pay in the local currency when you withdraw - this avoids additional charges and poor exchange rates offered by an ATM

Check if there’s a fixed cost per transaction for your ATM card. This might mean that making fewer, larger withdrawals is cheaper

Watch the ATM screen for warnings of extra fees the ATM operator may add - if there are going to be extra charges you may want to find an alternative terminal

Tips for saving on your travel budget for Iceland

Make the most of your money so you can do more on your trip to Iceland. Here are some travel budget tips:

Pay for your luggage when you book your flight - this is cheaper than at the airport

Don’t exchange currency at the airport or your hotel, as this is often the most expensive place

Always pay in the local currency

Keep a few different payment methods on you at any time, just in case you need a backup plan

Get a travel card which has good exchange rates and low or no cost ATM withdrawals overseas

What is the best currency to take to Iceland?

The Icelandic Krona (ISK) is the official currency in Iceland.

You can exchange your GBP before you leave the UK if you’d like - but bear in mind that you won’t be able to spend GBP in Iceland. If you arrive with cash in your pocket you’ll need to exchange it locally, which may come with unexpected costs, and take time out of your trip unnecessarily.

A better plan for lots of people is to get a travel card for spending in ISK while in Iceland, with low costs and secure transactions.

Frequently Asked Questions

The Wise card will be OK for your trip to Iceland. Use your Wise card in Iceland to get low cost currency conversion and cash withdrawals, and to keep your budget down overall.

The Wise card is available for residents of Iceland, as long as they have the documents needed for verification - usually just an ID and a proof of local address.

Using the Wise card when you’re spending overseas can mean you get a better exchange rate and lower overall costs. Explore your card’s features and fees carefully to make sure you can get the most of it when travelling abroad.

The delivery time for a travel card in the UK can vary a lot depending on the provider you pick. Get ready in advance so you’ve got your card in good time before your trip to Iceland.

The information in this article is correct as of 20/02/2024. We retrieved Wise's and Revolut's card coverage from the following sources:

• Where can I use my Wise card? - Wise
• Can I get the Wise card in my country? - Wise
• Which countries can I use my Revolut cards in? - Revolut
• What countries are supported? - Revolut

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Find out more about common forms of payment in Iceland

When visiting Iceland, you'll find that the most convenient way to make purchases is by card or mobile payment. In fact, locals rarely use cash since most merchants accept credit and debit cards even for small purchases.

Credit cards

VISA and MasterCard are the major credit cards in Iceland. Both are serviced by all banks in the country. MasterCard is the agent for Diners Club and JCB.

You should check with your local bank regarding currency exchange rate. There may be a difference between the official exchange rate in Iceland and the one charged by your bank. 

Note for visitors from USA

If you want to pay by card, it's good to note that Iceland accepts cards with the chip-and-PIN system (and not swipe-and-sign cards). This  requires a 4-digit PIN for purchases.  Cash advance services for cardholders are available as follows:

• VISA – at all banks and ATMs
• MasterCard – at all banks and ATMs
• Diners Club – at all banks and ATMs
• JCB – at Kreditkort, Ármúli 28-30, 108 Reykjavík (tel: 550-1500)

Debit cards

Electron and Maestro cards are commonly accepted.

Mobile payments

Apple Pay and Google Pay are widely accepted around the country. This is true in small shops and even at petrol stations outside the capital. 

You'll be able to find ATMs to withdraw cash in Iceland. These require a PIN as stated above. Check with your bank in case they have international withdrawal charges. 

Traveller’s cheques

Traveller’s cheques, though less common, are also accepted at banks and major hotels or tourist centres.

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Iceland awaits. Let’s get your travel money sorted

Whether you're going for the glaciers or the volcanoes, the hot springs or the Northern Lights, there are few places with more spectacular scenery than Iceland.

Despite its name and lying just a few degrees south of the Arctic Circle, it has a surprisingly mild climate too. The warm waters of the Gulf Stream regulate its coastal weather and vary Iceland's average summer temperatures from around 5°C at night to as high as 25°C throughout the day.

You'll warm to the exchange rate we offer you for your Icelandic króna too. We offer our best rates online and if you order your Icelandic travel money now, it can be in your pocket the next working day.

Order Icelandic króna online  and you'll get a better deal for your Reykjavik money.

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We’ll buy back any unspent Icelandic króna notes when you’re home

The more you buy, the better the rates

And if your trip’s cancelled, we’ll refund you every penny of your currency within 28 days of purchase.  T&Cs apply

Click and collect in branch

Get hold of your travel money fast. Pick up online orders from your nearest Post Office.

Home delivery

Want your cash delivered tomorrow? Order by 3pm today for delivery to your home.

How far does your Icelandic króna go?

Iceland is expensive for its citizens, not just visitors, so lots of homeowners in Reykjavik let their properties through Airbnb. While there’s a lot of availability, it may contribute to difficult housing situations for locals so it’s preferred visitors stay in formal accommodation like hotels and hostels or outside of the capital

Eating out is considered a treat by the locals. High prices apply to food cooked by someone else, whether that’s a takeaway pizza or a meal in a restaurant

Alcohol can only be bought (outside of bars) in state-run off-licences, which are open during office hours. You might need to plan to stock up before heading out

Items such as designer clothing are taxed highly and so can be very expensive – so don’t go to Iceland expecting to replenish your wardrobe

Renting a car is by far the cheapest way of getting around Iceland

Some common questions

Why visit iceland.

Iceland is one of the more popular destinations for UK travellers in recent years, and it’s not hard to see why. With its unique geothermal landscape, there are rafts of natural phenomena that travellers can’t see anywhere else on earth.

The whole country runs on geothermal energy and is, for many, the template of a country that functions well and offers something for everyone. With its rugged, otherworldly landscapes, bewitching culture of ‘hidden folk’, arts in every town and unique cuisine, travellers are guaranteed an experience like no other.

What is the Iceland króna?

The Icelandic króna is the official currency of Iceland.

The numeric value of króna is quite high, which can make mental arithmetic a little more challenging than, say, US dollars. But once you’ve got your head around it, it’s not too tricky.

Króna come in coins of 1, 5, 10, 50 and 100. The króna is nominally divided into aurar (cents) however these are no longer accepted tender. However, it is hugely unlikely you would see any.

Króna notes are 500, 1,000, 2,000, 5,000 and 10,000.

Where is the Icelandic króna used?

The Icelandic króna is only used in Iceland.

Where can I buy Icelandic króna?

It’s easy to buy Icelandic króna online using our  click and collect service. Or, to buy travel money in-branch,  use our branch finder tool  to locate those that sell currency.

You can get our best exchange rates, and we can also deliver to your home, if you buy online. You’ll get a better rate the more you buy. And, if you buy at a good time for the pound, you can lock in that great rate.

With our travel money buy back  service you can sell us any leftover notes you have. And we can  refund your travel money  at the rate you bought it if your trip’s cancelled for a reason beyond your control.

What are the best ways to pay in Iceland?

Iceland is an increasingly cash-free society and it’s common for locals and visitors to pay for everything using credit cards or debit cards.

But remember that paying for items using a credit or debit card abroad can come with charges, so if you want to keep costs down, it’s useful to research what charges your provider levies.

• Read all travel money FAQs

Related products, services and information

Popular currencies.

If you need other currencies for this trip or another you’re taking soon, we offer over 60. These may be of interest.

Post Office Travel Money Card is an electronic money product issued by First Rate Exchange Services Ltd pursuant to license by Mastercard International. First Rate Exchange Services Ltd, a company registered in England and Wales with number 4287490 whose registered office is Great West House, Great West Road, Brentford, TW8 9DF, (Financial Services Register No. 900412). Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Icelandic Króna (ISK)

Buy Icelandic Króna before you set off and relax at the Blue Lagoon or dive into the bright lights of Reykjavik, knowing you’ve got spending money sorted.

• Clubcard Prices Clubcard Prices

Clubcard Prices are available for all currencies, just enter your Clubcard number on the next page. Full T&Cs below.

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Conveniently purchase currency or prepaid travel money cards in-store at Tesco.

• Home Delivery Home Delivery

Free delivery on orders worth £500 or more.

Exchange rates may vary during the day and will vary whether buying in store, online or via phone.

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Buy Icelandic Króna online and collect from selected Tesco stores

Get set for your trip by ordering icelandic króna online and picking your holiday money up in store..

Whether you’re planning a tour to see the Northern Lights or you’re hoping to explore the charming fishing villages of the West Fjords, swap your Pounds for Króna before you go.

Place your order online, choose a date that suits you, then head along to your selected Tesco Travel Money bureau or customer service desk to get your Icelandic Króna. Click & Collect makes exchanging GBP to ISK as easy as picking up your weekly shop.

Find a Store to get your Travel Money

With Click & Collect you can order your travel money online and pick it up from selected Tesco stores near you, or you can buy instantly from an in-store travel money bureau.

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Buy your Icelandic Króna before you fly

The benefits of buying króna online.

Be ready to enjoy the treats Iceland has to offer from the moment you land, by exchanging GBP for ISK before setting off. Having cash for a coffee at the airport or a taxi to your hotel can make those first experiences all the more sweet.

With local currency in your pocket, you won’t have to spend your time trying to find an ATM that accepts your bank card. You also won’t have to worry about fluctuating exchange rates or additional bank charges.

Get your currency when it's convenient for you

You can use Click & Collect to arrange a time to pick up your Icelandic Króna as part of your weekly shop, either from a Tesco Travel Money bureau or customer service desks. You can also use our home delivery service, which is free for online orders of £500 or more.

Exchange rates can change throughout the day and may vary depending on whether you buy in-store, online, or over the phone.

Common questions about the Icelandic Króna

The Icelandic Króna is the official currency of Iceland and is issued by the Central Bank of Iceland. Its abbreviation is ISK and its international symbol is kr.

Up until the start of the 20th century, Iceland used Danish currency. When the Scandinavian Monetary Union was dissolved in 1918, Iceland began to issue the Icelandic Króna which is separate from the Danish Krone.

Króna notes come in 1kr, 5kr, 10kr, 50kr and 100kr.

Króna coins come in 500kr, 1,000kr, 2,000kr, 5,000kr and 10,000kr.

Iceland is the only country that uses the Icelandic Króna, and the currency is not pegged to any other currencies.

You won’t be expected to leave a tip as standard in Iceland. There isn’t a tipping culture and many restaurants and services include a small gratuity in the bill.

It’s very unlikely that you’ll cause offence by leaving a tip, especially in popular tourist spots like Reykjavik, but don’t be surprised if someone refuses to accept it. Saying no to a tip may be a source of pride. Carrying small Króna banknotes can make it easier to tip when the time is right and you enjoy really good service.

Looking for a different currency?

We sell over 50 currencies. Order online for home delivery or collect from selected Tesco stores.

Important information

Buying foreign currency using a credit or debit card.

No matter how you purchase your travel money, whether it be in store, online or over the phone, you will not be charged any card handling fee by us. However, regardless of your card type, your card provider may apply fees, e.g. cash advance fees or other fees, so please check with them before you purchase your travel money.

Click & Collect cancellations

You can cancel a Click & Collect order any time prior to collection. We'll refund you with the full Sterling amount that you paid for your order, unless you cancel less than 24 hours before your collection date, in which case we'll charge a £10 late cancellation fee.

We are unable to refund any fees charged by your card issuer, so please contact them if you have any further queries.

When you get home, we'll buy your travel money back

Let us turn your unspent holiday money into Pounds. It couldn't be simpler.

Just pop into one of our in-store Travel Money Bureaux when you get home. We buy back all the currencies we sell in most banknote values and also the Multi-currency Cash Passport™. Buy back rates may vary during the day.

It doesn't matter where you bought your travel money, even if it wasn't from a Tesco Travel Money Bureau, we'll still buy it back.

Tesco Travel Money is provided by Travelex

Tesco Travel Money ordered in store is provided by Travelex Agency Services Limited. Registered No. 04621879. Tesco Travel Money ordered online or by telephone is provided by Travelex Currency Services Limited. Registered No. 03797356. Registered Office for both companies: Worldwide House, Thorpewood, Peterborough, PE3 6SB.

Multi-currency Cash Passport is issued by PrePay Technologies Limited pursuant to license by Mastercard® International. PrePay Technologies Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900010) for the issuing of electronic money and payment instruments. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Clubcard Prices

Clubcard Prices are available on the sell rate only for currencies in stock online, on your date of purchase. The Clubcard Price will be better than the standard rate advertised online on the date of purchase. When purchasing online you must enter a valid Clubcard number to obtain the Clubcard Price rate. Exchange rates may vary whether buying in store, online or by phone.

Clubcard Prices apply to foreign currency notes in stock on your date of online purchase. Due to constant market and currency fluctuations, rates on the date of purchase cannot be compared to another day’s rates. The actual rate you receive may vary depending on market fluctuations. Clubcard data is captured by Travelex on behalf of Tesco Bank.

Check out the Tesco Bank privacy policy to find out more.

Other customers have been asking:

If you've got a problem or query on your order, get in touch with us. We're here to help.

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You could try the Currency Card of Arion Banki. https://www.arionbanki.is/english/individuals/payment-cards/currency-card/

Use the 28 Degrees MasterCard, which many Australians use ( including me) for overseas travel, it doesnt charge exchange fees. You can withdraw money via ATM's though that now has a charge ( it never used to).

The other one I use is the Citibank card - decent exchange rates and no charge if used to withdraw money via another Citibank ATM overseas.

This topic has been closed to new posts due to inactivity.

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Aud to isk exchange rate, buying icelandic króna.

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Pick up locally

Pick up your Icelandic króna with no hassles from one of our many stores across Australia.

Inspiration

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The Ultimate Travel Money Guide To Europe  

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How to save for two holidays a year

About the currency, coins and notes.

Still getting the Króna confused with Coronas? We’re here to help. The Króna is divided into 100 aurar, although coins in any denomination less than one króna have not been in circulation since 2003. Icelandic coins, therefore, come in 1, 5, 50, and 100 kronor. In terms of notes, Iceland has 500, 1000, 2000, 5000 and 10,000 króna notes (for the ballers).

Facts about the currency

• From 1874 until the beginning of WWI, the Danish krone was the currency of choice. It wasn’t until the end of the Scandinavian Monetary Union (and the beginning of greater Icelandic autonomy) that the Icelandic króna was first issued.
• In 1981, the Icelandic Króna was revalued, with 100 old króna being valued at 1 new Icelandic Króna.
• A survey of 28,000 Icelanders in 2016 revealed that only 30% believe the Icelandic króna will be the future currency of Iceland.