By Traveling to Greenland is an unforgettable experience, offering stunning landscapes, vibrant Inuit culture, and unique adventures. However, managing your finances wisely is crucial, as the country’s remote nature makes certain banking services and payment methods less accessible. Understanding how to handle currency in Greenland ensures smooth transactions, prevents financial surprises, and maximizes your travel budget.
This guide provides 10 expert tips to help you navigate the currency system, including the best ways to exchange money, use credit cards, and manage your spending efficiently.
Understand the Official Currency in Greenland
The official currency in Greenland is the Danish krone (DKK), as Greenland is an autonomous territory of Denmark. This means that you won’t find a unique Greenlandic currency, and all transactions are conducted in DKK. The krone is available in coins and banknotes, with common denominations including 50, 100, 200, 500, and 1000 DKK notes.
Understanding this helps you plan your budget accordingly and avoid confusion when making purchases.
Currency in Greenland: Know the Exchange Rate Before You Travel
Before arriving, check the exchange rate of your home currency against the Danish krone. Exchange rates fluctuate, so using online tools like XE.com or currency converter apps can help you stay updated.
Exchange rates at airports and tourist locations tend to be less favorable. For better rates, consider exchanging a small amount in your home country and withdrawing more cash once you arrive in Greenland.
Cash Is King in Remote Areas
While credit cards are widely accepted in larger towns like Nuuk, Ilulissat, and Sisimiut, some remote villages and smaller establishments may only accept cash. Having some local currency in Greenland ensures you won’t face difficulties when purchasing food, transportation, or souvenirs in less-developed areas.
Be sure to withdraw enough money in towns before heading to more isolated destinations, as ATMs can be scarce in rural areas.
Use ATMs for the Best Exchange Rates
ATMs are the most convenient way to get currency in Greenland. They generally offer better exchange rates compared to currency exchange counters at airports or hotels. Major banks like GrønlandsBANKEN have ATMs in major towns, allowing travelers to withdraw cash in DKK.
However, ATM fees may apply depending on your bank, so check with your provider to avoid unnecessary charges.
Currency in Greenland: Credit Cards Are Widely Accepted, but Not Everywhere
Most hotels, restaurants, and shops in major Greenlandic towns accept credit and debit cards, particularly Visa and Mastercard. However, American Express and Discover cards may not be as widely accepted.
If you plan to visit smaller settlements or local markets, always carry cash as backup. Inform your bank of your travel plans in advance to prevent your transactions from being flagged as suspicious.
Avoid High Fees on Foreign Transactions
When using credit or debit cards abroad, foreign transaction fees can add up quickly. To save money, consider using a travel-friendly credit card that offers low or no foreign transaction fees.
If given the option at a card terminal, always choose to pay in the local currency in Greenland rather than your home currency. This prevents dynamic currency conversion fees, which are often higher.
Currency in Greenland: Plan for Limited Banking Services
Banking services in Greenland are not as widespread as in other countries. GrønlandsBANKEN is the main bank, but branches are limited outside of major towns. Banking hours can be short, and services may be restricted, especially in remote areas.
Ensure you have enough cash for emergencies, and consider using online banking for money transfers or account management while traveling.
Tipping Culture in Greenland
Tipping is not a common practice in Greenland. Service charges are typically included in the price of food and services. However, if you receive exceptional service, a small tip or rounding up the bill can be appreciated but is not expected.
Understanding this aspect of currency in Greenland helps travelers avoid unnecessary expenses.
Use Mobile Payments Where Available
Greenland is gradually embracing digital payments. Some businesses, especially in Nuuk, offer mobile payment options like Apple Pay and Google Pay. However, these services are not as widely used as in mainland Europe or North America.
Check with local businesses beforehand if you prefer using mobile payments over cash or cards.
Budget Wisely for Your Greenland Trip
Greenland is an expensive travel destination due to its remote location and reliance on imported goods. Expect higher prices for food, accommodation, and activities.
To manage expenses, plan your budget in advance, use cost-saving strategies like self-catering or public transportation, and be mindful of how you handle currency in Greenland to avoid unnecessary fees.
Conclusion
Understanding how to manage currency in Greenland is essential for a smooth and enjoyable trip. While the Danish krone is the official currency, accessibility to banking services varies depending on location. Smart travelers prepare by carrying a mix of cash and cards, being aware of fees, and staying informed about exchange rates.
By following these expert tips, you’ll be able to navigate financial transactions efficiently and make the most of your Greenland adventure.
FAQs
Q1. What currency is used in Greenland?
The official currency in Greenland is the Danish krone (DKK). There is no separate Greenlandic currency, and all transactions are conducted in DKK.
Q2. Are US dollars or euros accepted in Greenland?
No, US dollars and euros are generally not accepted in Greenland. You must exchange your money for Danish kroner or use credit/debit cards where available.
Q3. Are ATMs available in Greenland?
Yes, ATMs are available in major towns like Nuuk and Ilulissat, but they are scarce in smaller settlements. Travelers should withdraw cash in advance when heading to remote areas.
Q4. Can I use my credit card everywhere in Greenland?
Credit cards, particularly Visa and Mastercard, are widely accepted in major towns. However, some remote areas and small businesses may only accept cash.
Q5. Is tipping required in Greenland?
No, tipping is not expected in Greenland, as service charges are usually included in the bill. However, rounding up the total or leaving a small tip for excellent service is appreciated.
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