Known for its breathtaking volcanic landscape and stunning natural beauty, Iceland is a fascinating country for visitors. The island nation boasts everything from spectacular glaciers to hot springs, making it an important inclusion on the must-visit list of many Australian travellers.
If you want to send money from Australia to Iceland - maybe you want to transfer cash to a friend or loved one visiting the country - there are plenty of transfer providers that can help. All you have to do is compare their services to see which one offers the best deal.
International Money Transfer Offer
WorldRemit International Money Transfers
Send money online within minutes
Large range of destinations
Able to send to cash pickup locations
International Money Transfer Offer
Use promo code 3FREE to send your first 3 transfers with no fee.
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.
Banks versus money transfer companies
While you could approach your bank to handle your money transfer to Iceland, in most cases you’re better off looking elsewhere. Banks offer some pretty disappointing exchange rates to their customers, which means that a far smaller amount than you originally pay actually ends up making it to your recipient. Banks also charge high transfer fees, leaving you even further out of pocket.
Happily, there’s another solution to your transfer problem. Specialist money providers, such as OFX and WorldFirst, are experts in money transfers and trade large volumes of global currency. This means they can afford to offer much better exchange rates than any bank, plus they also charge lower fees. Check out the services these companies offer before deciding which company should handle your next international transfer.
Isaac Sends Money to Iceland
Isaac wants to send money to Iceland to help out his sister Katie. Katie is on a two-week holiday in Iceland but left her wallet behind at a bar one night, leaving her desperately short of cash. Isaac agrees to transfer her $1,000 but, since his bank doesn’t transfer exotice currencies, he decides to compare two money transfer companies in an effort to find a cheaper option.
As you can see in the table below, using the second transfer company allows Isaac to send an extra 460 ISK and also save AUD $6 in transfer fees.
If you need to get funds to Iceland as soon as possible, companies like Western Union and MoneyGram offer the convenience of international cash transfers in as little as 10 minutes. However, make sure you’re aware of the full cost of your transaction before you part with your money. High transfer fees and lower exchange rates often apply to emergency cash transfers, so if you’re not careful you could end up paying more than you realise.
Cash pickup locations in Iceland/ Western Union / MoneyGram branches in Iceland
With locations in Iceland and all over the world, Western Union and MoneyGram operate expansive international transfer networks. The details of some popular cash pickup locations in Iceland are listed below - if picking up funds, make sure you have photo ID and the details of your transaction handy.
LandsbankinnAlfabakka 10Reykjavik, 109+354-410-4000Open 12:09am to 4pm Monday to Friday
LandsbankinnKletthals 1Reykjavik, 110+354-410-4000Open 12:09am to 4pm Monday to Friday
LandsbankinnHamraborg 8Kopavog, 200+354-410-4000Open 12:09am to 4pm Monday to Friday
Landsbankinn Alfabakka 10Reykjavik, 109+354-410-4000Open 12:09am to 4pm Monday to Friday
Posturinn Hofdabakki 9Reykjavik, 1105801000Open 9am to 7pm Monday to Friday, 11am to 4pm Saturday, 1am to 4pm Sunday
Posturinn Thonglabakka 4Reykjavik, 1095801200Open 9am to 7pm Monday to Friday, 11am to 4pm Saturday, 1am to 4pm Sunday
Posturinn Dalvegi 18Kopavogur, 2005801000Open 9am to 7pm Monday to Friday, 11am to 4pm Saturday, 1am to 4pm Sunday
Posturinn Litlatuni 3Gardabaer, 2105801200Open 9am to 7pm Monday to Friday, 11am to 4pm Saturday, 1am to 4pm Sunday
Provide your details. You will usually need to register for a free account before you can send a transfer. This is often done online and you will need to provide your name, contact information and proof of ID.
Enter your transaction information. The provider will need to know where you’re sending a transfer, in what currency, and the amount you’re sending.
Pay for your transfer. The final step is to review your transaction details and then submit your transfer request. Many companies also allow you to monitor transfer progress using an online tracking service.
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
Sign up for a new account and receive a $50 Myer gift card when you transfer $10,000 or more. Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
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