Photo: Stian Klo
Most places on the mainland accept credit cards, including the more remote islands. Therefore we do not recommend that you bring cash as it can be quite difficult to exchange it. If you plan on having cash at hand, it is best to use the official bank ATM machines around the country to ensure you have the correct currency.
There are two currencies of equal value in the Faroe Islands: the Faroese króna and the Danish krone. While the Faroese government prints its own bank notes, only Danish coins are used. Danish notes are equally acceptable as Faroese notes throughout the country.
The series of banknotes comprise five denominations: 50 kroner, 100 kroner, 200 kroner, 500 kroner, and 1000 kroner. The coin (only Danish) series comprises six denominations: 50 øre (cents), and 1, 2, 5, 10, and 20 kroner.
There may be a few places in the major towns that accept foreign currency, but this is more likely the exception than the rule, and, unsurprisingly, the exchange rate is rarely favorable. Exchange rates for the Faroese (Danish) króna as of August 2022 are roughly: DKK 100 = €13.4 / £11.4 / $13.6
Most shops, restaurants, petrol stations, hotels, and taxis accept credit cards, mainly VISA, but other credit cards, such as MasterCard, Eurocard, Maestro, and JCB, are also accepted in large stores, shopping centers, and restaurants. Most places DO NOT accept American Express.
It is possible to withdraw money with Visa, Visa-Dankort, Eurocard, MasterCard, Maestro, and JCB from the many ATMs around the country. The ATMs are often found next to bank branches and can be used outside the banks’ normal opening hours.
Banks are normally open Monday to Friday from 09.30 to 16.00. Banks in smaller villages might have different and shorter opening hours. Banks are closed on all public holidays.