How to send money to Iceland from Poland with the best PLN-ISK rate

The exchange rate determines the price you will pay when buying Iceland Krona.

A better exchange rate means more money being sent to Iceland.

If you are paying for services in Iceland Krona from Poland, this can make a huge difference.

The current rate between the Zloty and Iceland Krona is 34.9921.

We should note, PLN-ISK exchange rate changes almost constantly.

Understanding the averages, and then waiting a day or two can help you get more ISK for the same amount of Zloty.

You can also use a forward contract to lock in an agreed exchange rate between Poland and Iceland.

Using a bank transfer to send via money transfer company is the payment method that will get you the best price when sending from Poland to Iceland.

On average a bank transfer to Iceland is 0.7% cheaper than the second-best option in the market.

Ensuring you fully understand regulations in Poland and Iceland will aid in keeping your money safe.

Our directory of worldwide financial regulators contains details on regulation for sending money between Poland and Iceland.

Some companies offering money transfers between Poland and Iceland have minimum or maximum thresholds on how much you can send or receive.

Rates and fees for different transfer amounts could change - that’s why it’s best to compare PLN-ISK rates for your specific transfer amount.

For regular transfers to Iceland, shopping around each time can make a huge difference.

For sending large amounts of PLN to Iceland we'd recommend using Wise. They offer a combination of rates and fees when sending from Poland to Iceland that is the most competitive, even at larger amounts.

There are different options for receiving Iceland Krona in Iceland.

The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all companies offering transfers from Poland to Iceland will offer every method for incoming Iceland Krona, so it’s best to check ahead of time.

Again, a comparison of PLN to ISK providers will tell you if the method for receiving is supported.

One of the most common ways to transfer money from Poland into Iceland is by sending directly to a bank account. Wise is the best company for bank transfers between Poland and Iceland.

And if you need cash right away, check if cash pickup is an option for transfers between Poland and Iceland.

P2P services and payment apps like PayPal, Xoom, and CashApp are popular because of convenience but are better for domestic transfers. For receiving international payments they come with more limitations and higher costs compared to money transfer options like multi-currency accounts.

If using a money transfer company to send Iceland Kronas to Iceland, you will need to verify your ID at the sign up stage.

The documents you need will vary and in some cases you might need more than one.

ID can be verified in Poland through a government issued ID such as a passport or driver's license.

If the recipient needs an ID to collect money in Iceland, it will be similar.

Large transactions between Poland and Iceland, can be subject to additional checks. This includes proof of funds for anti-money laundering purposes.

One of the reasons Wise has scored so highly for transfers to Iceland is their easy sign up process in Poland.

Sending regular, or larger amounts of money between Poland and Iceland could mean there are tax declarations to consider.

Some transfers into Iceland Krona may need to be reported to tax authorities in Iceland, particularly where inheritance or property purchases are involved.

Iceland has many different tax obligations for residents and non-residents.

When in doubt, please contact a tax professional in Poland or Iceland to discuss your personal circumstances. This ensures you are not missing any specific tax needs associated with your transfer.