This is a wiki crowdsourced by the Monzo Community to help you travel with Monzo.
Just like Wikipedia, anyone can edit it to help out others. If you have any tips or feedback for visiting Iceland with Monzo, please feel free to edit this guide. You can also add a comment or question below — someone will then incorporate your comment into the main text below and then delete your comment. To create your own “Monzo in …” guide if one doesn’t already exist, just copy this template into a new post and write away!
Safe travels! 
Currency
krĂłna, kr, ISK
Card usage
Everywhere seems to take cards, including taxis and a hot dog stand.
Contactless limit is ISK 5,000 (except for ĂŤslandsbanki terminals which have a lower limit of ISK 4,200)
ATMs
Payment and withdrawal limits
Crowdsourced merchant data
Miscellaneous
Card doesn’t seem to work in parking meters
Current account card works at self-service petrol stations. Earlier reports of cards not working may relate to the prepaid card.
You can have your value added tax (VAT) refunded at KeflavĂk Airport at Arion bank which is located in the arrivals hall of the airport. Passengers must apply for their refund before checking in and must be ready to show the goods for which they are claiming a refund. Minimum spend ISK 6,000.
To take advantage of this ask the merchant to complete the refund form when you pay in store.
To edit this guide, just tap the pencil icon below. Alternatively, add a reply with your comments and someone from the community will incorporate your suggestions into the guide and then delete your comment.