Iceland, a land of fire and ice, is a realm of stark contrasts and natural wonders. From the geothermal marvels of the Blue Lagoon to the majestic waterfalls of Skógafoss and Seljalandsfoss, and from the otherworldly landscapes of the Golden Circle to the vibrant nightlife of Reykjavík, Iceland offers an unparalleled adventure. Navigating this breathtaking country requires a solid understanding of the local cash, cash and ATMs in Iceland and available payment options. This guide will provide you with the financial insights needed to explore Iceland’s dramatic scenery and unique culture with ease and confidence, ensuring an unforgettable journey through the land of the midnight sun.
You may also enjoy reading Ultimate guide on how to travel on a budget in 2025.
Where can I find ATMs in Iceland?
There are about 200 ATMs in Iceland. These are operated mainly by 3 of its major banks. You can find them mainly in big cities. ATMs are common at:
You can find ATMs at:
- Major airports,
- Market and town squares,
- Main tourist streets,
- Shopping malls,
- Bank branches.
It will be difficult to find ATMs in:
- Small airports,
- Islands,
- Regional bus stops,
- Interior of the villages,
- Remote resorts and retreats.
Best ATMs to use in Iceland for foreigners
The best ATMs for foreigners to use in Iceland are those owned by popular banks such as:
Landsbankinn,
Arion Banki, and
Islandsbanki.
Don’t accept conversion at ATMs and withdraw only in local currency
In Iceland, some ATMs may ask – Accept OR Decline Conversion (also known as With or Without Conversion, or Charge in ISK).
- If you ‘Accept’ – ATM converts your money at ATM’s set exchange rate and you pay an extra % fee to the ATM for currency conversion also.
- If you ‘Decline’ – ATM will convert at exchange rate of the bank/card logo (Visa, Master, etc.).
So, to avoid extra fees while withdrawing cash in Iceland, select ‘Decline/Without’ Conversion or ‘Charge in ISK’.
If you’d like to understand more, read ATM fees abroad: Charges to use cards at foreign ATMs explained.
Can I use a foreign debit or credit card at an ATM in Iceland?
Yes, many foreign debit and credit cards are widely accepted at ATMs in Iceland. ATMs commonly accept Visa and Mastercards. Some of them also accept Plus and Cirrus cards. Only some accept American Express, Diners, Discover cards. Others like CUP, JCB, Maestro or Rupay cards are usually not accepted.
For a detailed guide, read Money and Currency in Iceland.
What are the ATM opening hours?
ATMs – In most cases, yes, they are open around the clock, every day of the year 24×7. You should have no trouble getting to any of them at any hour of the day or night because many of them are self-contained ATMs. Depending on the location, some bank branches may only be open from 9 am to 3 pm.
What do they call ATMs in Iceland?
The word ‘ATM’ is widely used or signage has a bank name with or without the word ‘ATM’.
PIN type
ATM PIN Length: Typically, 4-digit PINs are accepted.
Merchants accept Chip-and-PIN cards as a standard, and also magnetic stripe cards.
Languages at ATMs in Iceland
ATMs in Iceland have 2 language options by default – Icelandic and English. Some offer additional options like German and French. You get to choose this option at the start of the transaction itself. If you don’t understand these languages, it’s cool. Use Google Translate’s camera function and translate the options on your phone, live! Note – These translations are not always 100% correct, so take your time and don’t rush through the transaction.
If you’re not familiar with these languages, that’s totally fine. Try out Google Translate’s camera feature to instantly translate the text on your phone! Just a heads up – these translations might not always be 100% accurate, so it’s best to take your time and not rush through the transaction.”
Do ATMs in Iceland work similarly as other countries?
Yes, the ATMs are modern and look and work like those in the US, UK, Europe, Australia, and India. Some of them take your card inside fully during the transaction so don’t forget to take it after withdrawing cash at such ATMs.
Join the discussion, read and share cash related travel experiences on ATM Fee Saver’s Community Travel Forum at Money & Travel in Europe.
What currencies can I withdraw from ATMs in Iceland?
ATMs in Iceland dispense only the official currency Icelandic Króna (ISK).
ATM withdrawal limits in Iceland?
ATMs in Iceland have a maximum withdrawal limit per transaction of kr 50,000 to kr 500,000 depending on the location of the ATM. Bank ATMs also put daily withdrawal limits of kr 300,000 to kr 500,000 (Danish Kroner).
ATM Fees in Iceland?
There are no fee-free ATMs in Iceland. Bank ATMs in Iceland typically charge a fixed ATM fee per transaction along with variable ATM fee that is usually a percentage of the withdrawal amount. The fixed fees per transaction are usually ISK 275 to ISK 495 per transaction and variable fee is usually 1% of the withdrawal amount (figures in Icelandic Krona).
Apart from ATM Access Fees, there can be other potential charges to withdraw cash in Iceland – something every traveller handling cash in Iceland should be aware of. These are:
- Currency Conversion Fees (Accept or Decline Conversion)
- Your Bank’s currency conversion fee – Some banks charge the card holder a fee to use the card abroad. Cross check with your bank on what the charges are.
How to avoid high fees when withdrawing cash in Iceland?
- Use the fee-free or lower fee ATMs in the country.
- Use the ATM Fee Saver app to find fee-free or low-fee ATMs.
- Opt for “Decline Conversion” or “Without Conversion” during ATM transactions.
- Consider getting a fee-free travel card from your home country.
- Get one Visa and one Mastercard fee-free cards as some ATMs abroad accept only Visa and some only Mastercard.
- Avoid using ATMs at the airports, sometimes they have higher fees.
For a detailed guide, read Withdrawing cash abroad? 9 best ways to save foreign ATM fees.
Ways to find fee-free ATMs in Iceland?
Discover fee-free and low-fee ATMs on the ATM Fee Saver mobile app for iOS and Android. This app provides ATM PINs and details of leading bank ATMs such as ATM fees and withdrawal limits for foreign cardholders at ATMs in Iceland. Moreover, its simple fee calculator helps you determine exact withdrawal charges. You can also find cash tips and tricks on the app for 160+ countries including Iceland.
Download now from the App Store or Play Store.
Download ATM Fee Saver now.
Is it safe to use Iceland ATMs?
Typically, yes. Many ATMs feature cameras and security guards. Crime rates near ATMs are low.
To be safe, use precautions such as:
- Use the ATMs located inside bank branches instead of standalone ones.
- Avoid using ATMs on empty streets or late at night.
- Keep your card visible at all times.
- Cover the PIN pad with the palm of your hand to avoid revealing your PIN to hidden cameras.
- If you find any suspicious devices attached around the keypad area of the ATM, do not use the ATM.
- Be aware of your surroundings, if you see suspicious people, move away.
- Keep two or more cards as backup.
- If also using your mobile phone for the transaction, avoid using public Wi-Fi. Use VPN for extra protection.
FAQs
What to do if an ATM takes your card?
If an ATM in Iceland takes your card, contact the bank (if you used an ATM inside a bank branch), they may retreive your card if you have proof of identity. You can also contact the bank’s helpline but they usually retreive and resend new cards only for their own customers. If so, you’ll need to contact your own bank and ask them to deliver a new card at home or abroad.
Fee-free ATMs and possible to withdraw cash free of cost at ATMs here?
No, its not possible. There are no fee-free ATMs in Iceland. Bank ATMs in Iceland typically charge a fixed ATM fee per transaction along with variable ATM fee that is usually a percentage of the withdrawal amount. The fixed fees per transaction are usually ISK 275 to ISK 495 per transaction and variable fee is usually 1% of the withdrawal amount (figures in Icelandic Krona).
Foreign cards from US, UK, India, China, Europe, Australia accepted at ATMs in Iceland?
Yes. You can usually use credit cards from the US, UK, Europe, Australia, and other countries at ATMs in Iceland.
Bitcoin ATMs?
There are a handful of bitcoin ATMs in Iceland.
Foreign bank ATMs’ in Iceland
Bank of America: No, there are no Bank of America ATMs in Iceland.
Citibank: None.
Barclays: No, there are no Barclays ATMs in Iceland.
HSBC: No, there are no HSBC ATMs in Iceland.
Standard Chartered: No, there are no Standard Chartered ATMs in Iceland.
