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 TransferGo card in Iceland

The TransferGo card helps you spend smarter in Iceland. Pay in local shops, withdraw cash from ATMs, and enjoy contactless or virtual payments — all while avoiding hidden bank fees and poor exchange rates. Everything is managed from the app, so you’re always in control of your money.

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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

100 króna

Popular Krona pairings

A

ISK

ANG

ISK

AWG

B

ISK

BMD

ISK

BND

ISK

BRL

ISK

BSD

ISK

BTN

ISK

BZD

D

ISK

DJF

ISK

DZD

E

ISK

EGP

F

ISK

FJD

G

ISK

GIP

ISK

GYD

H

ISK

HKD

I

ISK

INR

K

ISK

KMF

ISK

KYD

L

ISK

LSL

M

ISK

MRU

ISK

MVR

ISK

MWK

ISK

MZN

N

ISK

NZD

P

ISK

PGK

ISK

PYG

S

ISK

SBD

ISK

SCR

ISK

SRD

T

ISK

TMT

ISK

TOP

ISK

TTD

ISK

TZS

U

ISK

UYU

V

ISK

VUV

W

ISK

WST

Z

ISK

ZMW

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.

Tip: Always pay in the local currency to get the best exchange rate and avoid extra conversion charges.

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 TransferGo card 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 the TransferGo card in Iceland?

Just activate it in the app and start spending — online, in stores, or at ATMs.

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 TransferGo card in Iceland?

Yes! You can use your TransferGo card for spending, withdrawing, or managing your money— with fair rates and no hidden fees.