When visiting the Faroe Islands, it is helpful to understand how money and payments work. This makes travelling easier and more convenient.
The official currency in the Faroe Islands is the Faroese króna (kr). It has the same value as the Danish krone (DKK). Faroese banknotes are printed locally and have their own unique designs. Danish coins, however, are used throughout the islands. Both Faroese and Danish banknotes are accepted everywhere.
There are five banknote denominations: 50, 100, 200, 500, and 1,000 kroner. Danish coins range from 50 øre to 20 kroner.
Credit and debit cards are widely accepted across the Faroe Islands. You can use them in shops, restaurants, hotels, petrol stations, taxis, and most services.
Visa and Mastercard are the most commonly accepted cards. However, American Express is rarely accepted. Many places may refuse it. Therefore, it is best to bring a Visa or Mastercard.
Because card payments are so common, you usually do not need to carry much cash.
Even though cards are the easiest payment method, you can still withdraw local currency from ATMs. These are located in most larger towns and villages.
If you want to carry cash, using an ATM is usually the most reliable option.
However, banks in the Faroe Islands no longer offer currency exchange services. This means you cannot exchange foreign cash once you arrive. Therefore, it is best to exchange money before your trip if you prefer cash.
Card payments are also common when booking travel services in the Faroe Islands. Most hotels, tour operators, ferries, and car rental companies accept card payments. In many cases, you can also pay online in advance when booking accommodation or activities. This makes it easy to plan your trip before arriving.
However, it is still a good idea to inform your bank before travelling abroad. This helps prevent your card from being blocked for security reasons when making payments in another country.
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