Iceland is an almost cashless society where credit cards reign supreme, even in the most rural reaches. PIN required for purchases. ATMs available in all towns.

Exchange Rates

AustraliaA$1kr89
CanadaC$1kr91
Europe€1kr132
Japan¥100kr116
NZNZ$1kr85
UKUK£1kr152
USUS$1kr116

For current exchange rates, see www.xe.com.

ATMs

  • As long as you’re carrying a valid card, you’ll need to withdraw only a limited amount of cash from ATMs.
  • Almost every town in Iceland has a bank with an ATM (hraðbanki), where you can withdraw cash using MasterCard, Visa, Maestro or Cirrus cards.
  • Diners Club and JCB cards connected to the Cirrus network have access to all ATMs.
  • You’ll also find ATMs at larger petrol stations and in shopping centres.

Credit & Debit Cards

  • Locals use plastic for even small purchases.
  • Contact your financial institution to make sure that your card is approved for overseas use – you will need a PIN for purchases.
  • Visa and MasterCard (and to a lesser extent Amex, Diners Club and JCB) are accepted in most shops, restaurants and hotels.
  • You can pay for the Flybus from Keflavík International Airport to Reykjavík using plastic – handy if you’ve just arrived in the country.
  • If you intend to stay in rural farmhouse accommodation or visit isolated villages, it’s a good idea to carry enough cash to tide you over.

Essential: Credit Card PIN

Note: a four-digit PIN is required to make credit- or debit-card purchases, and is essential for operating unstaffed petrol pumps. Ensure you have a PIN-enabled card before you leave home.

Currency

The Icelandic unit of currency is the króna (plural krónur), written as kr or ISK.

  • Coins come in denominations of kr1, kr5, kr10, kr50 and kr100.
  • Notes come in denominations of kr500, kr1000, kr2000, kr5000 and kr10,000.
  • Some accommodation providers and tour operators quote their prices in euro to ward against currency fluctuations, but these must be paid in Icelandic currency.

Tipping

As service and VAT taxes are always included in prices, tipping isn’t required in Iceland. Rounding up the bill at restaurants or leaving a small tip for good service is appreciated.

Travellers Cheques

Travellers cheques and banknotes can be exchanged for Icelandic currency at all major banks, but be aware that bank branches are only found in towns of a reasonable size.