Send Money to Faroe Islands

OFX
Margin Rate: 1%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Moneycorp
Margin Rate: 0.50%
Minimum Transfer: 250
Transaction Fees: £0
FCA Regualted: FCA Regulated
TorFX
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
VoltrexFX
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Currencies Direct
Margin Rate: 0.7%
Minimum Transfer: £500
Transaction Fees: £0
FCA Regualted: FCA Regulated

Countries in Faroe Islands

Send Money Transfer to Faroe Islands

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. While the Faroe Islands is to some extend administered by Denmark it is not part of the EU and therefore not bound by the same treaties.

There are a small number of banks in the Faroe Islands and a bank transfer to one of these represents the most straightforward option for sending money.

If you want to send cash without using your bank account or if you do not have one yet, there is the option to use a Money Sending Bureau. Although not as common here as in many other parts of the world these can be found on the internet and used to remit funds. Attention needs to be paid to both the exchange rate and any associated fees.

Bank Note System
The series of banknotes comprises 5 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.

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