Send Money to Iceland

Iceland: land of fire and ice. OFX: land of fabulous forex.

How to Send Money to Iceland

  1. Gather the relevant banking information, including the name on the recipient’s bank account, the Bankanumer, the IBAN number, and the SWIFT/BIC code.
  2. Create a free online account with OFX, or login to get a live quote for your money transfer.
  3. Enter your details and those of your recipient.
  4. Choose ‘finalize transaction’ to process your payment.

It’s easy and affordable to send money to Iceland using OFX. Even if you’re not ready to transfer funds today, you can sign up now, so your account is active and ready when a great exchange rate comes up.

When sending money to Iceland, keep in mind that different tax regulations may apply to sending large sums of money overseas depending on many factors including:

  • how the money is going to be used
  • how much you are sending
  • the source of the funds
  • if the money has been taxed elsewhere

For example, supporting family members by paying for living expenses is usually considered different from sending large sums of money abroad as a gift. See our Guide to Sending Money to Family Abroad for more details.

How to send money to Iceland at a great exchange rate

When looking at exchange rates, it’s important to know that the value of the króna (ISK) may be influenced by the Central Bank of Iceland, which determines interest rates and intervenes in the interbank foreign exchange market by buying and selling ISK in exchange for EUR. If you want to read up on the factors that influence other currencies, head over to the Exchange Rates section of our site.

 

Iceland Money Transfers - FAQ

Wondering how to send money to Iceland? We've got the smart, secure way to exchange your U.S dollars for Icelandic Króna. Headquartered in Sydney, with offices around the world, we provide 24-hour access to our highly skilled transfer team.

Is there any limit on how much money I can send to Iceland?

No. OFX works well for both businesses and individuals.   

Can I send money from a Icelandic bank account to the U.S?

Sure. If you live in Iceland, you’ll want to complete your registration with our UK branch. If you live in the U.S, register now to send money to Iceland with your U.S bank account. 

Does OFX transfer money to all Icelandic banks?

OFX can transfer funds to any bank in Iceland, including, but not limited to:

  • Arion Bank 
  • Íslandsbanki 
  • Landsbankinn 
  • Kvika banki 

The OFX-factor:

You can reach our dedicated customer service agents 24/7 (including weekends and most holidays). When others are closed, we’re open. Need a quote? Need it ASAP? Need to talk to someone about your mother? We’re here for you.

When you use OFX, you’ll get fast, efficient service, and we’ll keep you informed of where your money is along the way. For all your overseas payments, OFX is simply smarter. 

How can OFX help you manage USD/ISK exchange rate swings?

Check out our risk management strategies and stay in control of your money. 

Sources:

  1. https://www.tgbr.com/tgbr/help/RTN.html
  2. http://www.international-payments.co.uk/Money-Transfer-to-Iceland/71
  3. https://www.cb.is/monetary-policy/markets/

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