The best way to exchange currency at Keflavik Airport
It’s something we all think a lot about before a trip: where can I get cash in the local currency? That’s no surprise. After all, running out of money when you need to pay for something on holiday could be a minor embarrassment – or worse, a major inconvenience. Sometimes it’s not always possible to get organised before boarding the flight, so instead let’s take a look at the best way to exchange currency after you arrive at Keflavik Airport.
There are a couple of options while you are at Keflavik Airport:
1. Use a foreign exchange kiosk
One of the easiest ways to change money when you’re travelling abroad is to wait until you get to the airport. Most airports have a foreign exchange counter or kiosk. Sometimes it is located within the baggage hall, meaning that as you wait for your bags to make an appearance on the conveyor belt, you can occupy yourself swapping your pounds, euros or dollars for a wad of the local currency.
Another place you’ll often find a bureau de change is just beyond the baggage collection area in the arrivals hall. Again, it’s a pretty convenient place to sort out your money as you might have a few minutes to kill as you wait for your Airport Direct by GrayLine Iceland shuttle. Often these airport-based foreign exchange counters operate relatively long hours – for instance compared to a bank – so even if you’re arriving on an early or late flight, there’s a good chance they’ll be open when you need them. Keflavik Airport is temporarily without a bureau de change. Change Group are planning to open a foreign exchange service at Keflavik Airport soon but it isn’t quite ready. If this is the method you plan to use to get your Icelandic krónur, it’s a good idea to check back on the airport website during the run up to your trip to see if this has changed.
2. Withdraw money from an ATM
The other option you’ll have if you’re keen to get your local currency sorted while at Keflavik Airport is to use an ATM. Most of us travel with bank cards that can be used abroad; having a chip and pin card should make this easier in most parts of the world. Simply pop your own credit card into the machine and withdraw the amount you need. Check before you agree to the transaction for any commission or ATM fees and make sure you’re happy with the amount if so.
It’s worth doing a little preparation in advance of your trip if this is what you plan to do. For instance, make sure you understand the conversion rate. Figure out roughly how many Icelandic krónur you’re likely to need and make a note of that amount. When you get to the
cash point, you’ll then be given a number of options and you can choose one or type in the amount that you planned to withdraw.
Other options
These aren’t your only choices, though. Let’s take a look at what else you might do as regards getting your Icelandic krónur.
· Rely on credit or debit cards
Of course, as most places in Iceland accept card payments, you might consider going cashless. Iceland, like many other places, has embraced card payments and contactless so there are relatively few instances during your trip where you’ll find you’ll need cash. Though, it’s always useful to have a small amount as a backup, just in case your card is declined or the ATM is out of use.
After all, in the unlikely event that you get caught out and if you are really stuck, you can always find an ATM in the nearest town to wherever you happen to be. If tapping your card (MasterCard or Visa are the most widely accepted) or using another form of payment such as Apple Pay is what you’re used to doing at home, this could be an option you’d consider in Iceland.
To keep track of your spending and minimise the amount of cash you’ll need while in Iceland, you might also prefer to pre-book tours, activities and your Airport Direct by Gray Line Iceland transfer up front. Making these bookings online means you just need to show your email confirmation that doubles as proof of purchase – and then you won’t need krónur for these things at all.
· Get your ISK in your home country
Firstly you might want to change your money before you even get on the plane. If you know you’ll want to have at least a small amount of cash while you’re in Iceland, then having it all sorted before you leave home can be a weight off your mind when you’re juggling all the other things that go with trip planning.
You’ll know best what places in your own local area will change money for you. Depending on your hometown, this could be a post office or bank, perhaps. You might need to order the currency in advance – unlike euros or dollars it’s unlikely to be in stock everywhere – but with a bit of forward planning you can quite easily tick this task off your pre-holiday to do list.
How to make sure you get the best rate
Getting the best rate possible is also something you’ll need to consider. Typically, the more you order, the better the exchange rate will be. So if you’re planning to travel with other family members or as a group of friends, you could consider pooling your needs so that you get a better deal. Check the rate first online to get a starting point – try a tracker website such as xe.com for instance – and then aim to get as close to that rate as possible.
If you plan to use cards to pay for things rather than cash, keep an eye on the transaction fees you might incur as these can quickly mount up. The good news is that there are a number of options where you can use a card without having to pay such fees, making each purchase cheaper for you. For instance you could use a currency debit card such as Revolut, which offers fee-free transactions; ISK is one of 150 currencies supported up to a specific monthly limit.
Going to a branch of a bank is a last resort
As a last resort and depending on your arrival time, you might consider going to a branch of a bank which offers currency conversions. Generally speaking, the bank’s website will give you information about where to find this service and what the branch opening times are – these vary from place to place.
On the Reykjanes peninsula, there’s a branch of Landsbanki in Reykjanesbær, for example, though you’ll find it more convenient to wait until you reach Reykjavik as you can catch the Airport Direct by Gray Line Iceland transfer right through. Remember as you can book online, you’ll already have paid, so there’s no need to stress about finding some cash to pay the driver. Just hop on board and enjoy the ride!