Everything you need to know
Iceland Currency
Travelling to or living in Iceland? Managing your money shouldn’t be stressful. With TransferGo, you can send, spend, and exchange money affordably — so more of your money goes where it matters.
Use the GoCard in Iceland
Open a UK bank account with us and get a GoCard for smarter spending in Iceland. Pay in local shops, use ATMs globally, and enjoy contactless payments—all with zero hidden fees. Everything is managed from the app. Available only to UK and EU residents.
What is the currency in Iceland?
The official currency of Iceland is the Icelandic króna
The króna replaced the Icelandic krone in 1918 when Iceland became a sovereign state under Danish rule. It is issued by the Central Bank of Iceland.
ISK, kr
Banknotes
kr500
kr1,000
kr2,000
kr5,000
kr10,000
Coins
1
5
10
50
100 króna
Popular Krona pairings
A
B
D
E
F
G
H
I
K
L
M
N
P
S
T
U
V
W
Z
How to spend money in Iceland
Iceland is largely cashless; credit and debit cards are accepted almost everywhere, including taxis, restaurants, and even small shops. Cash is rarely required outside remote rural areas. ATMs are mostly in urban centres and tourist hubs.
Tips for exchanging money in Iceland
Use banks or ATMs for the best rates; airport kiosks often overcharge.
Pay in króna whenever possible to avoid conversion fees.
Carry small notes in rural areas, guesthouses, and for tipping guides or taxis.
With TransferGo, you can send money to Iceland or use your GoCard for seamless, cashless spending.
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Frequently asked questions
What is the official currency used in Iceland?
Icelandic króna (ISK).
What is the official currency used in Iceland?
Symbol: kr | Code: ISK
Can I use my home currency in Iceland?
No, payments must be in króna.
How can I use my GoCard in Iceland?
Just activate it in the app and start spending—online or in stores.
Is it better to use cash or card when spending in Iceland?
Cards are preferred; cash needed only in remote areas.
Are credit or debit cards widely accepted in Iceland?
Yes, almost universally.
Are there ATMs available in Iceland, and are there withdrawal limits?
Yes, in cities; limits depend on your bank.
Can I use a GoCard in Iceland?
Yes! You can use your GoCard for spending, withdrawing, or managing your money—with fair rates and no hidden fees.