IcelandISKIcelandic Króna
Iceland is not part of the European Union, and this often leads to a miscalculation: if not in the EU, then no restrictions apply. In reality, the country is part of the European Economic Area and adheres to the EU's sanctions measures, and Icelandic banks verify incoming payments from Russia by European standards. The króna floats freely, and the ISK amount is locked in before payment. What matters here is not the exchange rate, but a pre-agreed route. Commission from 0.9%.
The route, the receiving bank and the payout amount are agreed before payment.
The national currency is the Icelandic króna (ISK), which floats freely; currency restrictions introduced after the 2008 financial crisis were subsequently lifted. Iceland is not a member of the European Union, but is a participant in the European Economic Area and Schengen Area and adheres to EU restrictive measures, so transfers related to Russia undergo enhanced sanctions and AML/KYC checks, and the recipient bank may request documents on the origin of funds. The country's banking sector is relatively small and was substantially restructured after the 2008 crisis. The central bank and regulator is Seðlabanki Íslands (Central Bank of Iceland), located in Reykjavik. The country's main banks are Landsbankinn, Íslandsbanki, and Arion Bank. IBAN format IS with 26 characters is used for bank transfers; SWIFT/BIC code is also required for international transfers.
Iceland is one of the most cashless economies: bank cards and electronic payments are accepted almost everywhere, including for small purchases, so the need for cash is minimal. The official language is Icelandic, while English is widely used in banking and business environments. The country observes UTC+0 year-round and does not observe daylight saving time; Reykjavik is 3 hours behind Moscow. ATM24 checks the recipient bank, sanctions compliance, and available route before confirming the request. International SWIFT transfers take 2–5 business days. ATM24 commission is from 0.9%.
A card in Iceland is the main payment instrument: it's used even for small purchases. Landsbankinn, Islandsbanki, Arion banki. You'll need the 16-digit card number and cardholder name in Latin characters. The possibility of crediting is confirmed before payment: compliance standards here are European-level
An Icelandic IBAN is shorter than most European ones and starts with the IS code. The request includes the recipient's IBAN, their bank's SWIFT code, and name in Latin characters. Specify the payment purpose clearly: the bank has the right to request documents on the origin of funds. Iceland is not in the EU, but checks incoming payments by European rules
Cash is rarely needed in Iceland: the country has almost entirely switched to cards. Reykjavik is the capital, where most of the country's population lives. Cards are accepted on buses and at roadside cafes, so a supply of króna cash is rarely needed. Cash in Iceland is a rare case, so the amount and city should be confirmed in the request beforehand
Details for Iceland: IBAN format IS with 26 characters, bank SWIFT code, and recipient name in Latin characters. The króna floats freely, so the ruble-to-króna conversion is calculated at the time of the request and locked in before payment: you can see immediately in the request how many rubles are needed and how many króna the recipient will get. On this route, the key factor is not the exchange rate but the status: Iceland is not part of the European Union but adheres to its restrictive measures, and local banks verify incoming payments from Russia by European standards. For this reason, the payment purpose must be specified clearly, and the route must be confirmed before payment.
We accept RUB, USD, EUR and USDT — we pay out in ISK
RUB ISK
1.26per 1 RUB
10 000 ₽ = 12 593 ISKUSD ISK
112.9per 1 USD
100 $ = 11 290 ISKEUR ISK
127.98per 1 EUR
100 € = 12 798 ISKUSDT ISK
112.9per 1 USDT
100 USDT = 11 290 ISK| You send | Payout in ISK |
|---|---|
| 100 USDT | 11 290 ISK |
| 300 USDT | 33 870 ISK |
| 500 USDT | 56 450 ISK |
| 1 000 USDT | 112 900 ISK |
| 5 000 USDT | 564 501 ISK |
Where recipients usually get the money in Iceland
SWIFT: verify; Description: A major universal bank in Iceland
SWIFT: verify; Description: One of the country's three largest banks; Reykjavik
Arion Bank — a bank focused on everyday accounts and card operations. The recipient should provide the exact details and payout currency.
MP Bank — a bank serving personal customers and small businesses. Its services typically include accounts, cards, branches, and digital banking.
Kvika Bank — a local bank with standard account and cash services. Transfer availability depends on the details, currency, and bank rules.
National Currency
The national currency is the Icelandic króna (ISK), which floats freely.
Card Systems
Visa and Mastercard cover the entire market. Iceland is one of the world's leaders in cashless payments: cash is almost never used. Arion Bank, Íslandsbanki, and Landsbankinn are the main card issuers. Blikk and Greiðslustofa Islands provide local processing.
Payment Applications
Apple Pay and Google Pay are supported by all major Icelandic banks. Arion Bank, Islandsbanki, and Landsbankinn offer full-featured mobile apps. MobilePay (Danish) is partially available to users in Iceland. There are no specialized mobile wallets.
Interbank Transfers
IBAN format IS with 26 characters is used for bank transfers; SWIFT/BIC code is also required for international transfers.
Financial Regulator
Seðlabanki Íslands is the central bank and main financial regulator of the country; located in Reykjavik.
Special Features for ATM24
Iceland is not a member of the European Union, but participates in the EEA and adheres to EU restrictive measures, including sanctions against Russia.
With an ATM24 transfer the recipient gives their own bank and details, so the money lands directly on the account.
Three steps from request to payout
Fill in the form or write to us on WhatsApp or Telegram — a manager will check the available route
We check the recipient details and confirm the route, rate, fee and payout amount
Once paid, the transfer goes out along the agreed route — we report the status in the messenger
We verify the exact details when agreeing the available route before payment.
Facts, not promises
You see the rate, the fee and the payout amount before you send the money.
The route, rate, fee and payout amount are agreed before payment.
Reference cities with payout locations. Availability of a specific location is confirmed in the request.
Confirm the city before payment
Only methods present in both the country description and the current route are shown.
Real stories from real people
Exchanged Russian rubles (electronic) for cash baht, delivered in 40 minutes, the rate is excellent! Pattaya area
Read full reviewYandex
In Thai they give the most favorable rate! Sofa well done ! All the best)
Read full reviewTrustpilot
I needed dirhams in the UAE, contacted this company, they responded quickly, explained everything in detail, I withdrew money at the ATM with no problems Huge thanks to manager Anna
Read full reviewAn excellent way out of the situation with getting cash. We ended up on an island in Thailand and needed local money. I risked using the service. They contacted me quickly via WhatsApp, I received clear support, I sent the money to the number and within 5 minutes the money was in my hands from the ATM. Easier than easy. Thank you very much. Stanislav was in touch. Thanks for such a grea
Read full reviewYandex
Hi everyone! Second time in Thailand (first time was in 2007). For an event we needed to buy drinks in small wholesale. I only had a phone with Apple Pay. Makro only accepts cash and local payment systems. In 30 minutes manager Alisa helped me get the required amount. Instructions were clear. Everything went successfully. Thanks!
Read full reviewHello everyone! I sincerely want to thank this organization and especially note Ekaterina for her professionalism, promptness and quick problem solving. The thing is we came to the Emirates to vacation for the first time, but the worst part is we forgot all our cards at home, we are from Russia. We turned to ATM24 online AS THEY SAY AT OUR OWN RISK AND FEAR. You understand, in a foreign country where our banks naturally don't work, but to the point. Ladies and gentlemen. I recommend 100% without any fear. They exchanged our wood (cash) for dirhams with no problem and at a very good rate. The exchange was done in a personal meeting. The courier arrived at the hotel at the appointed time, very polite and courteous. Guys from ATM24 you are great. Keep your brand, keep it up. Everything went just great, and most importantly without any deception or charlatanism! I'll repeat again, I recommend this company. All the best and bright. Thank you🙏
Read full reviewWe had a personal manager, Alisa. This was our first time (cashless ruble to cash baht). Exchange rate 2.94 (0.34) - 3.03 (0.33). ATM24 processed at a rate of 2.72 (as of 05.03.2024)... which is already about 0.37. Small change, but nice. I assume this is a very good rate right now. We dealt with ATM24 for the first time, it was a bit tense... you know... first the chairs, then the money :) we didn’t rule out an Ostap Bender scheme. But everything went well. We used the yellow one, it turns out it’s right at our hotel (convenient). There were problems with Sber for the transfer. Like due to high risk of recipient fraud ("atm")... With VTB there were no such issues. We don’t have a bank card that would work in Thailand. How good it is that there is manager Alisa and a company like ATM24. They really helped us!
Read full reviewWe agree the rate and the payout method before payment — pick where the money goes.
Country not found
We've gathered answers about the króna, price levels in Iceland, and why a country outside the EU checks payments by European rules.
To send money to Iceland with payout in ISK through ATM24, start with the recipient's exact route for the Iceland ISK payout route. ATM24 confirms the amount, payment method, fee from 0.9%, timing from 15 minutes, and bank such as Landsbankinn. Bank-route examples for Iceland: Landsbankinn, Arion Bank, Íslandsbanki, KB Bank, and Kaupthing Bank.
A card or bank-account payout in Iceland in ISK is possible only when the selected route supports it. ATM24 verifies whether the recipient's card, account number, and name match the Iceland ISK payout route. The manager confirms the selected bank, such as Landsbankinn or Íslandsbanki, before payment because card and account rules may differ. Bank-route examples for Iceland: Landsbankinn, Arion Bank, Íslandsbanki, KB Bank, and Kaupthing Bank.
For bank payout in Iceland, useful ISK references include Landsbankinn, Arion Bank, Íslandsbanki, KB Bank, and Kaupthing Bank. ATM24 treats the bank named by the recipient as the working route and checks recipient name, account data, and route availability. The sender pays after that bank route is confirmed.
For Iceland, ATM24 does not use one universal recipient form for every ISK transfer. The details are checked by route: Landsbankinn, Arion Bank, Íslandsbanki, KB Bank, and Kaupthing Bank, card payout, account payout. Name, account/card data, and payout currency must match the selected option. Bank-route examples for Iceland: Landsbankinn, Arion Bank, Íslandsbanki, KB Bank, and Kaupthing Bank.
An ISK transfer to Iceland can start from 15 minutes after ATM24 confirms the recipient route. Timing depends on amount, recipient details, and Iceland ISK payout route, Landsbankinn, Arion Bank, Íslandsbanki, card route, account route, and separate checks for Landsbankinn and Íslandsbanki. The expected payout window is shown before payment. Bank-route examples for Iceland: Landsbankinn, Arion Bank, Íslandsbanki, KB Bank, and Kaupthing Bank.
The ATM24 fee for sending money to Iceland with payout in ISK starts from 0.9% on the Iceland ISK payout route. The final calculation depends on the amount, payment currency, payout method, exchange rate, and the recipient's bank. If the sender pays by an international card or through a bank transfer, the card issuer or sending bank may charge its own foreign transaction, conversion, transfer, or dynamic currency conversion fee. Bank-route examples for Iceland: Landsbankinn, Arion Bank, Íslandsbanki, KB Bank, and Kaupthing Bank.
Yes, the sender can use an available card, bank transfer, USDT, or another confirmed method while the recipient receives ISK in Iceland. The manager checks Landsbankinn, Arion Bank, payout route, exchange conditions, and final amount before payment. Any card conversion or sending-bank fee remains outside the recipient payout. Bank-route examples for Iceland: Landsbankinn, Arion Bank, Íslandsbanki, KB Bank, and Kaupthing Bank.
ATM24 accepts transfers to Iceland in ISK from 100 USD or the equivalent. The maximum amount is not a single country-wide number; it depends on the Iceland ISK payout route, bank rules, payout channel, sender payment method, and recipient data. For a large transfer, the manager confirms the limit and documents before the sender pays. Bank-route examples for Iceland: Landsbankinn, Arion Bank, Íslandsbanki, KB Bank, and Kaupthing Bank.
For a large ISK transfer to Iceland, ATM24 reviews documents around Iceland ISK payout route, Landsbankinn, Arion Bank, recipient-name match, route limit, payment purpose, source-of-funds review, and separate checks for Landsbankinn and Íslandsbanki. The request may require sender ID, source-of-funds details, recipient bank data, and payment purpose. The manager confirms the exact list before payment. Bank-route examples for Iceland: Landsbankinn, Arion Bank, Íslandsbanki, KB Bank, and Kaupthing Bank.
If you send 1000 USD to Iceland, the recipient amount in ISK is not a generic market-rate number: 112,900.26 ISK. The calculation uses the payout route, bank such as Íslandsbanki, fee from 0.9%, and exchange conditions. ATM24 confirms the final amount before the sender pays. Bank-route examples for Iceland: Landsbankinn, Arion Bank, Íslandsbanki, KB Bank, and Kaupthing Bank.
Could not find an answer to your question?
Contact support
