Currency in Greenland: 10 Powerful Insights to Enhance Your Trip
Planning a trip to Greenland? Understanding how money works in this Arctic wonderland is crucial for a smooth experience. The official currency in Greenland is the Danish krone (DKK), but there are unique aspects to consider, such as limited ATMs, cash vs. card preferences, and exchange options. Whether you’re exploring Nuuk, Ilulissat, or remote settlements, knowing the ins and outs of the currency in Greenland will save you time, money, and unnecessary stress. This guide covers 10 powerful insights to help you manage your finances efficiently while traveling through Greenland.
The Official Currency in Greenland is the Danish Krone (DKK)
Greenland is an autonomous territory within the Kingdom of Denmark, so the Danish krone (DKK) is the official currency in Greenland. Unlike some territories that have their own versions of a currency, Greenland does not issue a separate banknote or coin system. The krone is available in denominations of 50, 100, 200, 500, and 1,000 DKK notes, as well as smaller coins. While prices may be slightly higher due to import costs, travelers will find familiar banking structures similar to Denmark.
Currency Exchange Options Are Limited
If you’re bringing foreign currency, it’s best to exchange it before arriving. Greenland has limited currency exchange services, and exchanging money at local banks may be time-consuming. Some hotels and larger establishments might accept U.S. dollars or euros, but the exchange rates are often unfavorable. To avoid inconvenience, withdraw Danish kroner before departure or upon arrival in Denmark, where exchange rates are more competitive.
Credit and Debit Cards Are Widely Accepted
Credit and debit cards are a convenient way to handle transactions, as most businesses accept major international cards like Visa and Mastercard. However, American Express and Diners Club are not as commonly accepted. When using a card, be mindful of potential foreign transaction fees. While cards are popular in larger towns, smaller settlements and remote areas may still rely on cash.
ATMs Are Scarce Outside Major Towns
ATMs in Greenland are not as widespread as in other travel destinations. You’ll find ATMs in larger cities like Nuuk and Sisimiut, but remote areas and small villages may not have any. Ensure you withdraw enough cash before venturing into less populated regions. Since Greenlandic ATMs dispense Danish kroner, it’s also useful to check withdrawal limits and fees with your bank before traveling.
Currency in Greenland: Tipping Is Not Expected in Greenland
Unlike in many other travel destinations, tipping is not a common practice in Greenland. Restaurants, hotels, and taxi services generally do not expect gratuities, as service charges are typically included in the bill. If you receive exceptional service, a small tip is always appreciated, but it is entirely optional. Knowing this can help you budget more accurately for your trip.
Mobile Payments Are Gaining Popularity
With digital payment methods expanding worldwide, Greenland is also adapting. Mobile payment apps such as Apple Pay and Google Pay are becoming more widely accepted in larger businesses, particularly in Nuuk. However, mobile payments may not always work in rural areas with limited internet connectivity. It’s best to carry a combination of cash and card for maximum convenience.
Currency in Greenland: The Cost of Living in Greenland Is High
Due to its remote location and reliance on imports, the cost of goods and services in Greenland is relatively high. Groceries, dining, and transportation can be more expensive than in mainland Denmark. Tourists should expect to spend more on daily expenses, especially when booking excursions, accommodations, and guided tours. Budget accordingly and plan your spending to avoid running out of cash or exceeding card limits.
Currency in Greenland: Local Markets and Small Shops Prefer Cash
While major supermarkets and hotels accept credit cards, small businesses, souvenir shops, and local markets often prefer cash. When shopping for handcrafted Inuit souvenirs or buying from a fisherman’s stall, having Danish kroner on hand is beneficial. Be sure to withdraw an adequate amount before exploring rural or less-developed areas.
The Best Time to Exchange Currency in Greenland
If you need to exchange money in Greenland, doing so at a bank during weekday business hours is your best bet. Banks typically operate Monday to Friday, with limited hours on weekends. Exchange rates may fluctuate, so checking the latest rates before exchanging large amounts is advisable. However, since options are scarce, arriving with the correct currency in Greenland is the most practical approach.
Avoid Relying on Foreign Currency
Despite Greenland’s growing tourism sector, foreign currencies like U.S. dollars and euros are rarely accepted. Some high-end hotels or tour companies may make exceptions, but visitors should not assume they can pay in anything other than Danish kroner. Carrying the right currency in Greenland ensures you won’t face difficulties when making purchases.
Conclusion
Understanding how the currency in Greenland works is essential for a seamless travel experience. The Danish krone (DKK) is the only accepted currency, and while credit cards are widely used in urban areas, cash remains necessary in remote locations. With limited ATMs and exchange services, planning your finances in advance will save you from unnecessary hassle. By following these 10 insights, you’ll be well-prepared to navigate Greenland’s unique financial landscape while enjoying everything this stunning destination has to offer.
FAQs
Q1. What is the official currency in Greenland?
The official currency in Greenland is the Danish krone (DKK). It is the only accepted currency for transactions across the country.
Q2. Can I use my credit card in Greenland?
Yes, most major businesses accept Visa and Mastercard, but smaller shops and remote areas may only accept cash. Always carry some Danish kroner as a backup.
Q3. Are there many ATMs in Greenland?
ATMs are available in larger cities like Nuuk and Sisimiut but are scarce in remote settlements. Withdraw enough cash before traveling to less populated areas.
Q4. Is it expensive to travel in Greenland?
Yes, Greenland has a high cost of living due to its remote location and dependence on imported goods. Tourists should budget accordingly for accommodations, food, and tours.
Q5. Can I pay with U.S. dollars or euros in Greenland?
Generally, no. While some hotels or tour operators may accept foreign currencies, it’s best to use the official currency in Greenland, which is the Danish krone.
Also read: Animals in the Arctic: 10 Incredible Creatures That Defy the Cold
