Planning a trip to Iceland? One important aspect to consider is the currency you should take with you. In this comprehensive guide, we will explore the best money to take to Iceland, taking into account factors such as convenience, exchange rates, and acceptance. Whether you’re a budget traveler or looking for the most efficient way to handle your finances, this article will provide you with all the information you need.
1. Icelandic Krona (ISK):
The official currency of Iceland is the Icelandic Krona (ISK). Using the local currency is often the most convenient option, as it is widely accepted throughout the country. Carrying cash in ISK is especially useful for small purchases, such as snacks, public transportation, and tipping. However, it’s important to note that not all establishments accept foreign currencies, so having some ISK on hand is essential.
2. Credit and Debit Cards:
Iceland is a highly cashless society, and credit and debit cards are widely accepted, even for small transactions. Using cards can be convenient and secure, as you won’t have to worry about carrying large amounts of cash. However, it’s important to notify your bank about your travel plans to avoid any issues with card usage abroad. Additionally, be aware that some remote areas or smaller establishments may only accept cash, so having a backup option is advisable.
3. Prepaid Travel Cards:
Prepaid travel cards are an increasingly popular option for international travelers. These cards allow you to load multiple currencies onto a single card, including Icelandic Krona. They offer the convenience of a credit or debit card while allowing you to lock in exchange rates in advance. However, it’s crucial to compare fees and exchange rates from different providers to ensure you’re getting the best deal.
4. Currency Exchange:
If you prefer to carry cash, it’s important to exchange your currency for Icelandic Krona before your trip. While it’s possible to exchange money at banks and currency exchange offices in Iceland, the rates may not be as favorable. To get the best exchange rates, consider exchanging your money at your local bank or reputable currency exchange services in your home country.
5. ATMs:
ATMs are widely available in Iceland, making it easy to withdraw Icelandic Krona directly from your bank account. However, be mindful of any fees associated with international withdrawals. To minimize costs, consider withdrawing larger amounts less frequently. Additionally, ensure that your PIN works internationally and inform your bank about your travel plans to avoid any card issues.
Conclusion:
When it comes to choosing the best money to take to Iceland, a combination of Icelandic Krona, credit/debit cards, and prepaid travel cards can provide you with the most flexibility and convenience. Carrying some cash in ISK is essential for smaller purchases, while cards offer ease of use and security. Prepaid travel cards can be a great option for locking in exchange rates. Remember to compare fees and exchange rates, notify your bank, and plan ahead to make the most of your financial transactions in Iceland.
