Money in Faroe Islands

Faroese króna and Danish krone, at par

The Faroe Islands use the króna, which is the Danish krone in a banknote series of its own: the Faroese notes are issued by Danmarks Nationalbank with Faroese designs and are worth exactly the same as Danish notes, while the coins are the same as in Denmark. Danish notes are accepted everywhere in the islands on equal terms, so any Danish kroner you already hold work as they are. Faroese banks do not exchange foreign cash, so arrive with Danish kroner or plan to use cards and cash machines. Faroese notes are not a valid means of payment in Denmark, so spend them before leaving; Danmarks Nationalbank exchanges them for Danish notes free of charge.

Cash machines in the towns, not at the trailheads

Cash machines are found in most of the larger towns and villages, and they are the reliable way to get kroner in the islands, since the banks do not exchange foreign notes. There are none at trailheads, viewpoints or in the smallest villages, so draw any cash you want before a day out on the outer islands. Many visitors need very little: cards cover almost everything, and a small amount of cash is mostly useful for the occasional unstaffed farm stand or small village purchase.

Cards accepted almost everywhere

Card payment is the norm in the Faroe Islands, in shops, restaurants, hotels, petrol stations and taxis, and Visa and Mastercard are the most widely accepted; American Express is taken far less often, so do not rely on it. Hotels, tour operators, ferries and car-rental firms take cards, and many can be paid online in advance, and phone payments are widely used. For a very remote guesthouse, confirm how to pay when you book, and tell your bank you are travelling so that a payment from the islands is not blocked as unusual.

Budget for Nordic prices and a few island extras

The Faroe Islands are an expensive destination, with prices at or above mainland Danish levels, since much of what is sold is imported and wages are high. Eating out is where the difference shows most; self-catering in accommodation with a kitchen is the main way to keep a budget in hand. A few costs are particular to the islands and add up over a trip: landowners' fees on some of the best-known hikes, the guided walk and fee on Mykines, and the tolls on the subsea tunnels. Each is set locally and changes, so check the current amounts while planning rather than relying on an old figure.