I want to change some Icelandic krona, Where can I exchange money in Iceland when the bank are closed ?
You can exchange money in the banks in Iceland, there is a bank in the arrival hall at the airport for example and also in the city center, the bank in the city center is however not open during the weekends. There will also be an option to exchange money at the Tourist information in the city hall soon.
Hi Anton! You can exchange at the airport,k but then you can also just use your card in the city. All the ATMs take international cards so you can easily use them as well. If you’re using USD or EUR, you can sometimes pay with that at museums and other official places that have a lot of tourists, but it’s alway best to have Króna.
My advice: do all the exchange either at the airport or the City Hall (when it opens) and then use a card.
There are not a lot of banks outside of Iceland that carry the Icelandic Króna. But most banks in Iceland are open from 9-5, and there is a bank and an ATM at Keflavík Airport where you can exchange your money into ours and vice versa.
There are also numerous ATMs around Reykjavík where you can take out Icelandic currency. There are soooo many on Laugavegur shopping street. They keep popping up like pimples on prom night.
Icelanders are not big on carrying money. Those paper bills and heavy coins seem outdated to us compared to credit or debit cards. We can also pay for groceries and other stuff using or smartphones.
Many Icelanders (and this includes me) hardly ever use actual money and get slightly annoyed when given a paper bill for some reason. If somebody owes me money, they should transfer it to my bank account and not give me a physical object! The only times I don’t hate getting physical money is when it is a birthday gift from my grandma
I hate having to pay with paper bills. It takes forever! The cashier has to open the drawer, put in the bills, making sure they all face the same way and take out my change. What is worse is then I have so many coins. And I hate even more paying with coins as then I have to count them and see if I have exact change because if I do not; I’ll have more coins!! I am a busy person; I don’t want to waste precious seconds using money! Just cards or smartphones for me!
So, whatever the reason is (hatred of money or love of futuristic technology), you will be able to pay with a credit or a debit card almost everywhere in Iceland.
I say ‘almost’ because the only place I can think where you can’t pay with a card is on buses. You even have to carry exact change on the buses (so annoying!!!). However, you can download an app where you can buy a bus ticket through their website, using a credit card.
You can at some places (like the post office and some shops in Kringlan) pay with a foreign currency like Euros, US dollars, and Danish, Swedish and Norwegian krona. But ask before, you can’t pay with those weird paper bills everywhere.
My friend, the problem is not with the cash when you want to buy something on, say, Laugavegur street. The problem is that there is no payment terminals in the huts - they accept cash only. This is why I’m also asking where I can exchange and get a fair rate. I understand that it is possible in the airport, however, in most cases the rate in the airports is really bad and sometimes includes high commission.
Surely we do also use credit cards, phones, pay apps etc etc… Who use cash today?
I’m not quite sure what you mean by the huts. It’s possible to take ISK out of an ATM at the current exchange rates or you can go to a bank for the same service. Cash is accepted everywhere but debit & credit cards are too!