Faroe Islands IBAN
A Faroe Islands IBAN is 18 characters long.
FO and two check digits open every Faroe Islands IBAN; its remaining 14 form the BBAN (Basic Bank Account Number). Transfers into Faroe Islands arrive in DKK over SWIFT.
Example Faroe Islands IBAN
Electronic format
FO6264600001631634
Print format
FO62 6460 0001 6316 34
IBAN structure for Faroe Islands
Format reference: SWIFT IBAN Registry.
Faroe Islands IBAN questions
Can Faroese banknotes be used or paid in at a bank in Denmark?
Not as Danish money. Danmarks Nationalbank says Faroese banknotes are not a valid means of payment in Denmark; private individuals can exchange them for Danish notes at banks, as with foreign currency. Older Faroese notes remain legal tender in the islands but are being withdrawn. Coins raise no such issue, since the islands use Danish coins.
Why are the Faroe Islands outside SEPA when Denmark is in it?
Home rule since 1948 let the islands opt out when Denmark joined the European Community in 1973. The Faroese government says EU law does not apply there and that relations rest on three bilateral agreements, on fisheries, trade in goods, and science and technology. With neither EU nor EEA membership, they are not on the EPC's list.
Is BankNordik a different bank from Føroya Banki?
No, it is the same institution. The bank modernised its brand as BankNordik while expanding across the North Atlantic, buying the Icelandic insurer Vørður in 2009 and parts of Amagerbanken in 2011. It now trades as Føroya Banki again, the name Finanstilsynet uses in its 2026 list, so older saved payee details may still say BankNordik.
Faroe Islands: the króna, Danish oversight and the local banks
The Faroe Islands have their own banknotes, though not their own exchange rate. Danmarks Nationalbank produces the Faroese króna notes, in Faroese and with Faroese animals and landscapes, under the 1949 law governing banknotes in the islands, and their exchange rate to Danish banknotes is 1:1. Coins are the same Danish ones used in Denmark. The current notes run from 50 to 1,000 krónur and were issued between July 2001 and September 2005.
- Finanstilsynet in Copenhagen designates the islands' systemically important banks under a Faroese version of the Danish Financial Business Act, in force through royal decree no. 1032 of 8 October 2019. In 2026 it named Føroya Banki and Betri Banki P/F, which in 2025 held 39.8% and 44.4% of the deposits placed with Faroese banks.
- Landsbanki Føroyar, the Faroe Islands Governmental Bank, is a public financial and research institution, re-established on 1 January 2017 under Parliamentary Act No. 116 to endeavour to ensure the islands' financial stability. It is also the administrative office of the Faroe Islands Systemic Risk Advisory Council and administers the Faroese Permanent Endowment Fund.
- Føroya Banki, set up in 1906 as a subsidiary of the Danish Landmandsbanken, says it was the islands' only bank for 25 years, until Sjóvinnubankin was founded in 1932; the two merged in 1994. In 2021 it agreed to sell its Danish business to Spar Nord, citing the higher capital requirements of a Faroese SIFI.
Sources: Danmarks Nationalbank: Faroese banknote series; Finanstilsynet: SIFI designation in the Faroe Islands, 2026 (Danish); Landsbanki Føroyar: legislation; Føroya Banki: history.
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