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Send Money to Iceland

Iceland is a very good country to have to send money to from other countries. You have access to some of the best services on the market and shouldn’t face any hassles or significant challenges.

Jonathan Merry
Author 
Jonathan Merry
3 minutes
November 21st, 2023
Disclosure
Best Overall
9.2
Wise

Wise is our recommended provider for sending money to Iceland. This is based on having the best combination of rates, fees and transfer times.

Cheapest Provider
8.6
XE

Users who searched with our comparison tool found XE often had the lowest rates and fees for sending to Iceland.

Compare rates and fees for sending money to Iceland

There are multiple ways to easily send and receive money in Iceland but these will largely depend on the provider you decide to use.

What’s the Fastest Way to Send Money to Iceland?

The fastest way to send money to Iceland is through Western Union’s fast option. With Western Union’s fast option, you can expect your money to reach its Icelandic destination in a matter of minutes. Cash pickups are the fastest and easiest method to organize, while bank transfers take longer. The main downside to Western Union’s fast option is the fact that it is more expensive than most of the competition. You can always expect to pay more with Western Union.

What’s the Cheapest Way to Send Money to Iceland?

The cheapest way to send money to Iceland is through OFX. With OFX, you only pay a small percentage of each transaction. There are no upfront fees and the service is undoubtedly the cheapest on the market. Furthermore, it typically only takes a day or two for your money to reach its Icelandic destination.

The main drawback to OFX is that it carries a minimum transfer size requirement which is significantly higher than any of the competition. Despite this, their rates cannot be beaten, particularly when you send more money at once. The more money you send through OFX in a single transfer, the cheaper the transfer becomes.

What’s the Easiest Way to Send Money to Iceland?

The easiest way to send money to Iceland is through Wise. Wise is a peer-to-peer money transfer system that makes sending money to Iceland very easy. Once you set up your account, you just need to follow their simple process whenever you need to send money:

1) Tap in the amount of money to be sent

2) Tap in the destination for the money

3) Pay Wise for the transaction

4) Wait a day or two for your money to reach its Icelandic destination

What’s the Overall Best Way to Send Money to Iceland?

The overall best way to send money to Iceland is through OFX. OFX offers you the best-rounded option, as their wait times and platforms are short and easy to use. When it comes to the rates you’re paying, if you send any larger amount of money, you can be sure you are getting the best rates by a large margin.

The USD to ISK exchange rate

Mid-market Rate
1
= 136.950076 ISK
Mid-market rate at: 17:03 UTC
USD/ISK Median: 136.314047 Low: 135.070046 High: 136.950076
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Contributors

Jonathan Merry
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com