Is Iceland mostly cashless?

Iceland is an almost cashless society, with nearly every purchase made by credit and debit cards. You won't need much cash at all for your trip. However, there are some important things that you need to know about paying in Iceland before you arrive.



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Most of Iceland is extremely card-friendly. Even small local stores will typically accept card payments, so you won't need to rely on cash. Most locals pay with card as well.

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Most locals only use card payments instead of cash, and you likely won't run into any small businesses in any of the small Icelandic towns that only take cash, no matter how small your purchase is. Again, for the most convenience, opt to bring your credit and debit cards with you to Iceland and pay that way.

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Tipping isn't mandatory or customary in Iceland, but it is always appreciated. The standard rate of tax on Icelandic products is 24%, with some products and services, including books, food and accommodation, taxed at a reduced rate of 11%.

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Most locals only use card payments instead of cash, and you likely won't run into any small businesses in any of the small Icelandic towns that only take cash, no matter how small your purchase is. Again, for the most convenience, opt to bring your credit and debit cards with you to Iceland and pay that way.

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The best currency to take to Iceland is the local currency, the Icelandic króna. US dollars are also highly exchangeable at local banks and currency exchange offices. However, instead of converting physical banknotes, the cheapest way to pay in Iceland is to use a multi-currency travel debit card like Revolut or Wise.

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No, you don't need any cash in Iceland. And yes, you can pay everywhere by debit or credit card. Note that some places (such as unmanned petrol stations) only accept credit cards with a 4-digit pin.

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Budget-Friendly Travel Planning You should plan to spend around kr27,531 ($202) per day on your vacation in Iceland, which is the average daily price based on the expenses of other visitors. Past travelers have spent, on average, kr4,728 ($35) on meals for one day and kr4,249 ($31) on local transportation.

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Respect nature by leaving it as you found it Perhaps the most important piece of Iceland etiquette for visitors to remember is the 'leave no trace' rule, which means that you leave natural areas as you found them.

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