We compared 2 companies sending money from the United States to Iceland. Regency FX is the best and cheapest, while Regency FX is the fastest.
Sending $7,000 with Regency FX gets your recipient 840,735.07 ISK at 120.1050 ISK per USD.
| 2 of 2 providers Last updated on 28 September 2026 | |||
| Based on 7,000 USD transfer Best companies for USD/ISK transfers | |||
| Promoted  Wise Pay via Bank transfer | Fee $86.01 1 USD = 120.4550 ISK -0.02% vs mid-market | Recipient gets kr 832,825.00 Next day | |
Ways to receive money in Iceland with Wise when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositNext dayAvailable via:SWIFT $86.011 USD = 120.4550 ISK kr 832,825.00You pay$7,000.00 | |||
| Promoted  Regency FX Pay via Bank transfer | Fee $0.00 1 USD = 120.1050 ISK +0.27% vs mid-market | Recipient gets kr 840,735.07 Minutes - 24 hours | |
Ways to receive money in Iceland with Regency FX when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositMinutes - 24 hours Free1 USD = 120.1050 ISK kr 840,735.07You pay$7,000.00 | |||
Run a live search Showing top United States to Iceland deals for 7,000 USD. Do a live search with your exact amount for today's best rates. | |||
Run a live search Showing companies that send from a business account. Run a business search to get live USD to ISK rates. | |||
Run a live search These companies offer multi-currency accounts for spending ISK. We suggest doing a live search based on how much USD you're planning to spend in Iceland. | |||
Run a live search These are managed services with real human support for large USD transfers. Click the link and update the transfer amount to get the best deal. | |||
| Exclusive: First Transfer Deal Regency FX Pay via Bank transfer | Fee $0.00 1 USD = 120.1050 ISK +0.27% vs mid-market | Recipient gets kr 840,735.07 Minutes - 24 hours | |
Ways to receive money in Iceland with Regency FX when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositMinutes - 24 hours Free1 USD = 120.1050 ISK kr 840,735.07You pay$7,000.00 | |||
| Wise Pay via Bank transfer | Fee $86.01 1 USD = 120.4550 ISK -0.02% vs mid-market | Recipient gets kr 832,825.00 Next day | |
Ways to receive money in Iceland with Wise when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositNext dayAvailable via:SWIFT $86.011 USD = 120.4550 ISK kr 832,825.00You pay$7,000.00 | |||
| How Our Results Work Mid-market rate: 1 USD = 120.4302 ISK Updates every 60 minutes. | |||
Transfer details
If you're sending a one-off transfer, then Regency FX is the best option.
For recurring transfers, I'd suggest using an app or a multi-currency account with Wise.
For large transfers using a broker like Regency FX is the best option.
How much you send will affect the best option for you right now.
You have 1 ways to pay for your transfer to Iceland, including bank transfer.
Usually, using bank transfer to fund your transfer is the cheapest but slowest option (ACH and takes a day or two).
You can use a debit card, Apple Pay and Google Pay for quicker deposit but its a bit more expensive.
I suggest avoiding credit cards since these are most expensive and have cash advance fees (Amex is very rarely accepted in general).
First time round you'll need to confirm who you are.
An SSN isn't required, an ITIN or a foreign passport works with most companies here.
How much USD you send to Iceland heavily affects the best ways and the cheapest options. Use the table below to check how the cheapest options change and how much more you'd get by comparing.
| Cheapest service | |||||
|---|---|---|---|---|---|
| $500 | 0.00% | $18.29 | kr 58,008.00with debit card to bank deposit | +kr 960.00 | |
| $2,000 | 0.00% | $34.84 | kr 236,556.00with bank transfer to bank deposit | +kr 5,307.67 | |
| $5,000 | 0.00% | $64.26 | kr 594,362.00with bank transfer to bank deposit | kr 0.00 | |
| $7,000This page | 0.27% | $0.00 | kr 840,735.07with bank transfer to bank deposit | +kr 3,955.04 | |
| $10,000 | 0.27% | $0.00 | kr 1,200,845.28with bank transfer to bank deposit | +kr 5,638.64 |
Mid-market rate: 1 USD = 120.4302 ISK
There are 2 companies available for sending money from the US to Iceland, across broker, online, app, multi-currency account, and global account, and more.
For regular transfers home
If you send a few hundred dollars home every payday, an app is usually the cheapest way and the least work.
Wise charges $86.01 on a $7,000 transfer with -0.02% markup, saves your recipient's details for next time, and ISK arrives in next day.
Funding from a US bank account or debit card avoids the 1% federal tax that applies to cash-funded transfers.
For one-off transfers
For a one-off transfer, an online service funded from your checking account is usually the cheapest way to send money to Iceland.
Of all online companies listed here, Wise gets you the most ISK per USD.
On a $7,000 transfer, you will get 832,825 ISK after a $86.01 fee and -0.02% markup.
But, bank funding (ACH) takes 1 to 3 business days to clear, while debit cards (and Google Pay/Apple Pay) are usually instant but cost a bit more.
For transfers over $10,000
For large transfers to Iceland (e.g. a property purchase, tuition, or moving to Iceland), a broker like Regency FX charges no fee, gives you a dedicated account manager, and adds 0.27% markup on USD/ISK that gets lower the more you send.
It's also good to check Wise since you get a bulk discount on transfers over $25,000.
Business payments from the US
Global accounts are for US businesses paying people abroad.
Companies like Airwallex, WorldFirst, or Payoneer handle the recurring and batch payments, invoicing, tracking, and more.
Holding & spending currencies
A multi-currency account like Wise is the best for holding and receiving ISK.
This is useful for traveling to Iceland, building up ISK balance, or receiving payments in ISK.
Wise converts $7,000 at -0.02% markup plus small fee and holds the ISK until you spend it.
With Regency FX, paying by bank transfer and receiving through bank deposit is the cheapest combination. Sending $7,000 gives your recipient 840,735.07 ISK.
Deposit USD by bank transfer.
The simplest way is to pay from your US checking account
Pay by bank transfer using your routing and account numbers.
An ACH payment is usually cheaper than a card, but the it may take some time for it to clear before a money transfer company can send the money to Iceland.
Zelle, Venmo and Cash App only support domestic transfers, so they cannot send money to Iceland.
Your recipient in Iceland can collect ISK through bank deposit.
You pay $7,000.00
kr840,735
Cheapest
The way you fund the transfer now affects the tax, while US law gives you specific rights if something goes wrong.
Cheapest way to send money to Iceland
The cheapest option is Regency FX, funded by bank transfer with bank deposit for the payout. Your recipient gets 840,735.07 ISK, which is 0.94% more than the next best option.
Fastest way to send money to Iceland
The fastest option is Regency FX. Pay by bank transfer and choose bank deposit for the payout. Your recipient gets 840,735.07 ISK, with the money arriving in minutes - 24 hours.
Since January 1, 2026, a 1% federal tax applies when an international transfer is funded with cash, a money order, a cashier's check or a traveler's check.
Funding from a US bank account, including ACH, or with a US-issued debit or credit card is exempt.
The rule applies to how you pay in, so your recipient can still collect cash without triggering the tax.
There is no federal cap on how much of your own money you can send electronically abroad.
Your bank or transfer company can set its own limit and ask for proof of where a large or unusual payment came from.
Cash reports and the declaration for physically carrying more than $10,000 across the US border are separate rules.
Do not split cash transactions to avoid a report.
The US Remittance Transfer Rule requires a covered company to show the exchange rate, fees and expected amount received before you pay.
You can normally cancel within 30 minutes at no charge, provided the money has not been deposited or collected.
You also have error-resolution rights if the wrong amount arrives or the transfer never turns up.
Contact the company first and keep the receipt.
For transfers over $10,000, Wise is the best option.
It offers the best exchange rate, which is more important than the fee for large transfers to Iceland.
While Wise may not always be the cheapest or fastest way to send ISK, they offer years of experience, and will offer you the peace of mind you need when sending large amounts abroad.
The rate changes how much ISK your recipient gets for your USD. Recent movement gives you a useful benchmark before you send.
Mid-market rate:1 USD = 120.420413 ISK
We track, save, and analyze the cost, speed, and product offerings of the leading money transfer services available between Iceland and United States.
We work with leading money transfer companies to provide real time fees and exchange rates.
We also conduct detailed company reviews, combined with in-depth analysis, we can offer the best deals on the market - every time you want to transfer money from United States to Iceland.
For a deeper understanding of our commitment to integrity and transparency, check out these articles:
Any tax information is for general guidance only and does not constitute tax advice. Speak to a qualified tax adviser about your circumstances.
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