4 Ways to Make Your Icelandic Krona Go Further: A Travel Money Guide
01/03/2025
Planning a trip to Iceland? With its stunning landscapes, hot springs, and dancing Northern Lights, Iceland is a destination like no other. But before you set off on your holiday to Iceland, it’s important to understand the best ways to manage your Icelandic Krona (ISK) to make your travel money go further.
So we’re rounding up our top tips on how to manage your travel money and find the best foreign exchange deals to help you make the most of your Icelandic holiday while keeping your budget in check.
1. Know How Much Icelandic Krona to Take
Due to its remote location, Iceland is a relatively expensive destination. But with the right planning, you can make your Icelandic Krona last longer. Here’s a rough idea of what you might spend daily to get your holiday budget started.
• Meals: A basic meal at a casual restaurant can cost around 2,000 ISK (£12), while a nice evening meal at a mid-range restaurant might be about 5,000 ISK (£30). Keep in mind that tipping is not customary in Iceland, so the price you see is generally what you’ll pay.
• Drinks: A beer at a bar or pub will typically set you back about 1,200 ISK (£7), and a cup of coffee at a café can cost around 600 ISK (£4).
• Excursions: Popular tours like the Golden Circle may cost anywhere between 10,000 ISK to 20,000 ISK per person (£60-120), depending on the type of experience you choose. We recommend booking your tour packages before you go. We have a range of Iceland excursion deals available to check out you haven’t already booked yours.
2. Use Your Credit, Debit or Travel Money Card, But Be Smart About It
While Iceland is a cash-friendly country, credit and debit cards are widely accepted everywhere, from restaurants and shops to taxis and even buses. However, it’s important to be mindful of your foreign exchange fees. Here’s how to make the most of your cards:
• Always pay in ISK: When offered the option to pay in your home currency or Icelandic Krona, always choose ISK to avoid poor exchange rates and hidden fees.
• Notify your bank: If you have opted to use your normal bank card before you travel, make sure your bank knows you’ll be in Iceland to avoid any issues with your card.
• Choose the right card: Want a way not to worry about the above issues? Look for a card with no foreign transaction fees to avoid extra charges. Our Hays Travel Money Card is a great option as it has no hidden fees, multiple currency options, and you can top it up whenever, wherever using the handy App.
3. Consider Free Activities and Natural Wonders
One of the best things about Iceland is that many of its most iconic and breathtaking attractions are completely free! By incorporating nature into your itinerary, you can enjoy unforgettable experiences without spending a krona. Here’s how:
• Soak in Natural Hot Springs: While Iceland has plenty of luxurious, paid geothermal spas like the Blue Lagoon, there are also many free natural hot springs. Visit places like the Reykjadalur Hot Spring River for a unique experience without the price tag.
• Hike the Trails: Iceland is a hiker's paradise, with numerous trails and scenic walks that are absolutely free. Whether you’re trekking through volcanic landscapes, or up a mountain for a panoramic view, these activities are an excellent way to experience the country’s beauty without spending a cent.
• Visit the Beaches: Iceland is home to some striking black sand beaches, like those at Reynisfjara and Vik. These beaches offer dramatic landscapes and peaceful surroundings— and best of all, they’re free to visit!
4. Take Advantage of Travel Money Experts and Pre-Order Currency
One of the best ways to stretch your Icelandic Krona is to pre-order your travel money before you leave. Here’s why:
• Better exchange rates: Ordering your Icelandic Krona in advance from trusted travel money experts can help you get a better exchange rate than if you wait until you’re in Iceland.
• Convenience: Having cash on hand when you arrive means you won’t need to rush to an ATM or currency exchange counter as soon as you land. It’s particularly useful if you’re arriving outside business hours or heading straight to more remote areas.
• Avoid ATM fees: Withdrawing cash from ATMs in Iceland can result in additional fees. By bringing currency with you, you can avoid these charges and make your Icelandic Krona last longer.
Order your travel money via click and collect today to secure a great rate!
Need to purchase your Icelandic Krona? Hays Travel is offering great rates online and instore right now! With the convenience of Click & Collect or Home Delivery, plus expert advice with dedicated forex staff in-store, it's never been easier to buy your travel money.