What is the local currency?
The local currency is the Icelandic Króna (ISK), not to be confused with other similar sounding Nordic currencies!
Should I change money before I go?
We recommend that you try to change some money before travelling, to get the best exchange rate. Another option is to withdraw money from an ATM once in Iceland, although banks may charge international withdrawal fees. Most places in Iceland also accept international bank cards.
Will I be able to draw money out when I get there or should I exchange money?
Yes. There will be plenty of ATMs available in Iceland, including at Keflavík Airport. Most currencies can be exchanged in Iceland but USD/EUR/GBP are the most commonly accepted.
How much should I budget per day for extras?
Iceland is known for being an expensive country, but your budget really depends on your own spending habits. Dinner is included every day, and lunch is included on day 2 and day 5. You’ll, therefore, need to budget for your remaining lunches and any drinks that you may want.
Lunch, on average, will cost between 2000 – 4500 ISK and you can expect to pay the following for drinks:
- A soft drink - 300-500 ISK per can/bottle
- A glass of wine - 1200-1400 ISK per glass
- A ½ litre of beer - 900-1200 ISK per beer
If you plan on buying gifts and souvenirs, don’t forget to budget for these too!
Is it customary to tip?
In Iceland, tipping at bars and restaurants is not customary.
A tip of around £5 for the Pack Leader would be appreciated but is not at all compulsory. Many Flashpackers choose to keep a kitty and give this to the Pack Leader at the end of the trip.