The Dash for Cash!

A lot of people have been talking to me about the currency issues for Iceland and as I mentioned at the meeting - this is a difficult issue and advice changes daily. Many of you have struggled to get icelandic currency and I have listed below on an earlier post one of the places where I know you can get your hands on some Icelandic Krona (as I got some myself!)

Advice on what currency they take in Iceland is varied. Some people have told me that they DO take Dollars and Euro but others have said that this is NOT the case. The one thing I would say on the matter is that while we are in Iceland it is going to be very difficult for us to be able to visit a bank. The banks open at 9.30 and close at 4.30 and we are unlikely to be in Reykavik during these times. Therefore if you bring traveller's cheques or currency that you want to change into Krona - you will need to do this in the airport. Some information sources note that many shops will ONLY take icelandic currency but all agree that plastic is the way to go for Iceland. Though, you might be cutting things fine a bit with that option now!

Wikipedia notes the following

Tourists to Iceland will generally not need to carry much Icelandic currency, as in most cases electronic payment is accepted. Other currencies are very rarely accepted in Iceland. A notable exception is Keflavík International Airport (which has many transfer passengers), where the US dollar, euro and some other currencies are accepted by all merchants. Certain stores in downtown Reykjavík, accept some foreign currencies.

The overall level of technological sophistication is noteworthy in Iceland. Iceland has, for example, among the highest per capita computer usage in the world (far higher than the UK or USA).^{[citation needed]} The saturation of technology in Iceland has had ramifications in their monetary system; a very large percentage of all transactions in Iceland take place through electronic forms of payment, such as debit and credit cards and online bank transfers. It is also worth noting that the value of banknotes is relatively small, e.g. the largest denomination banknote is the 5000 króna note, while a mid-range dinner for two in Iceland, without drinks or dessert, can easily exceed 5000 krónur (ca. EUR 30 in December 2008, EUR 16 in June 2009). This effect may accelerate the Icelandic move towards a semi-cashless economy.

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If you want Icelandic money in your pocket as we leave Belfast then please go to the CHANGE Group web site (see the link attached) and then make an appointment to change money with them before we fly!