Indó Banki review
Updated September 28, 2026 · DebitCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Indó Banki is a no monthly fee Visa debit card from a savings bank, priced at ISK 0 a month. It suits people who mostly spend in one home currency and want a simple card. The catch is a 0.7% currency conversion fee whenever the card is used abroad.
Key facts
- Best for
- Anyone in Iceland who wants a plain Visa debit card with no monthly charge.
- Monthly fee
- ISK 0 (Source, checked September 26, 2026)
- Currency conversion fee
- 0.7% (Source, checked September 26, 2026)
- Card type
- Debit (Source, checked September 26, 2026)
- Card network
- Visa (Source, checked September 26, 2026)
- Legal entity
- Indo sparisjodur hf. (Source, checked September 26, 2026)
- Support channels
- Help-centre (Source, checked September 26, 2026)
- Official website
- indo.is
Apps and profiles
- Get the app
- App Store
- Elsewhere
- Xfacebook.complay.google.com
Pros and cons
Pros
- Monthly fee of ISK 0 puts it at position 1 of 419 brands ranked on that measure
- A Visa debit card, debit, that draws straight on the bank account balance
- Run by a savings bank, Indo sparisjodur hf., rather than a card issuer
Cons
- Currency conversion fee of 0.7% on foreign spend, ranking 118 of 259 brands
- Support runs on help centre only, with no other channel listed
- A 0.7% conversion fee sits close to the 2.5% upper quartile across all brands
Who it suits
- Icelandic residents who spend mainly in krona and want no monthly charge
- People who want a Visa debit card tied to a bank account, not a prepaid balance
- Readers who will not hold foreign currency balances, so a conversion fee rarely bites
Who should look elsewhere
- Frequent travellers who convert money often and would pay 0.7% each time
- People who want phone or email support, since channels run on help centre
- Card seekers looking for credit rather than a debit card drawn on the balance
How it compares on our data
On monthly fee, Indó Banki holds position 1 of 419 brands ranked, with a monthly charge of ISK 0. Currency conversion runs the other way: 0.7% places the brand at position 118 of 259 brands ranked. Keeping the card costs nothing, while foreign spend carries the cost.
The company behind it
Indó Banki is issued by Indo sparisjodur hf., a savings bank rather than a card specialist. The account is a debit card on the Visa network, so it draws on the balance held in the account rather than on a credit line. Customer service runs through help centre, which means written help content forms the main route to answers on fees, cards and the account itself.
How Indó Banki compares
8.8 vs 9.4
8.8 vs 9.0
8.8 vs 8.9
8.8 vs 9.2
8.8 vs 8.8
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8.8 vs 8.5
8.8 vs 9.0
8.8 vs 8.8
8.8 vs 8.8
8.8 vs 8.7
8.8 vs 9.2
8.8 vs 9.0
8.8 vs 8.9
8.8 vs 8.8
8.8 vs 9.6
8.8 vs 9.2
8.8 vs 9.1
8.8 vs 9.1
8.8 vs 9.1
8.8 vs 8.9
8.8 vs 8.8
8.8 vs 8.8- 8.8 vs 8.8
- 8.8 vs 8.8
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8.8 vs 8.5
8.8 vs 8.5
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8.8 vs 8.3
8.8 vs 8.2
8.8 vs 8.0
8.8 vs 8.0
Frequently asked questions
What does Indó Banki charge each month?+
The monthly fee is ISK 0. That puts the brand at position 1 of 419 brands ranked on monthly fee, so it sits among the cheapest on this list. Nothing recurs as an annual charge on the same measure.
What is the currency conversion fee?+
Spending in another currency costs 0.7% in conversion. That places Indó Banki at position 118 of 259 brands ranked, against a median of 1% across all brands.
Is this a debit card or a credit card?+
It is a debit card. Purchases draw on the money in the account, so there is no credit line to be approved for and no borrowing to repay. The card runs on the Visa network.
Who issues the card?+
The account and card come from Indo sparisjodur hf., a savings bank. That structure means the money sits with a deposit taker rather than a standalone card issuer, and the card simply spends from that balance.
How do I get help from the bank?+
Support runs on help centre. Written help content is the route for questions on the account, the card and charges, so anything urgent or account specific has fewer obvious places to turn than at a bank with phone or chat support.
Is the card good for everyday spending in Iceland?+
For spending at home the ISK 0 monthly fee means the card costs nothing to hold, and the Visa network is widely accepted. The weakness is abroad, where each foreign purchase picks up 0.7% in conversion.
Who should choose a different card?+
Anyone travelling often is better served elsewhere, since every foreign purchase carries 0.7% here. Wise also has a £0 monthly fee and suits holding several currencies, while Varo Believe Secured Credit Card and Chime Card both sit at a $0 monthly fee but build secured credit instead of spending a bank balance.
Sources
- apps.apple.com/app/ind%C3%B3/id1482604767 checked September 26, 2026
Backs: Legal entity
“Developer Indo sparisjodur hf.”
- hjalp.indo.is/hc/is checked September 26, 2026
Backs: Support channels
- indo.is/launareikningur checked September 26, 2026
Backs: Card type, Card network
“Faerdu indó debetkort - default personal debit account card”
- indo.is/verdskra checked September 26, 2026
Backs: Currency conversion fee, Monthly fee
“Gengisalag vegna erlendrar kortanotkunar: 0,70% - default personal debit account”
Compiled from 4 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Free ATM withdrawals, Protection.
Indó Banki
Anyone in Iceland who wants a plain Visa debit card with no monthly charge.