Opening a bank account
Can you and do you need to open a bank account in Sweden? Depending on the length of your stay in Sweden, there are different ways to open a bank account.
Limited account to full account
When you open a bank account in Sweden, you may receive an ATM card and link internet and telephone banking services to your account. Under anti-money laundering legislation, banks are required to stringently verify customer identity. A bank account opened without a Swedish personal identity number has limited features.
If you later receive a Swedish personal identity number, you can update to an account with more features (BankID, Swish etc). Once you have received your Swedish identity personal number as well as a Swedish identity card from the Tax Agency, visit the bank and change the status of your account. You must make it clear why you want this change. It is advisable to have bring the decision from the Tax Agency at hand.
Do not forget to report the correct account to the employer.
We recommend that you have a plan for the economic situation for the first weeks in Sweden due to the time it takes to arrange the id number and a bank account.
See Becoming a bank customer of a Swedish bank and Guidance to opening a Swedish bank account.
Bank offices are generally open Monday–Friday, 10 am–4 pm.
Major Swedish banks:
If you will reside in Sweden for only a short time (for example less than six months), it is normally easier to use your bank account and bank card from your home country.
We strongly recommend that you bring a Visa or MasterCard to Sweden, as cards are widely used all over the country.
In addition, there are neobanks such as Revolut. Make sure that the neobank you choose offers payment solutions that enable you to pay bills in Sweden.
Bank ID
BankID is widely used in Sweden. It is a common way to identify yourself in digital environments. In order to obtain a BankID, you must have a Swedish Personal Identity Number and be a customer of one of the banks that issues BankID. You need to make a personal contact to the bank. Read more at the website of BankID
Card is king in Sweden
Once in Sweden, you will note that to a very large extent Sweden is a cash-free society. While most stores and restaurants still accept cash, some will only accept payments via bankcards or Swish (read more below). You will be able to use most international cards in stores, banks and cash machines/ATM’s, Visa and MasterCard are the most widly accepted cards in Sweden.
Read more about paying with cards in Sweden.
Paying with Swisch
In Sweden you will frequently come acress the work "Swish." It has even become its own verb, I'll swish you for that" or "Can you swisch me?"
Swish is a mobile app that you can use to send money from your bank account to another person’s account. Many companies are also connected to Swish, which means you can use Swish as a payment method. To send money through Swish, you need a smart phone, a Nordic phone number, a bank account, Mobile BankID, and a Swedish personal identification number (you need the personal identification number to open a full bank account and to be able to get a BankID).
It’s easiest to connect via your internet bank. After you’ve connected your bank account with your Swedish (or Nordic) mobile number, you can send money or send a request to get money.
Learn more about Swish (betalningshjalpen.se)
Currency converter
With a currency converter you can convert most common currencies to and from Swedish crowns, SEK.
Bank holidays
Here you can find information on current Swedish bank holidays.
The Swedish Consumers' Banking and Finance Bureau
The Swedish Consumers' Banking and Finance Bureau - is an independent agency whose objective is to meet consumers' need for information and guidance regarding financial services and support in dealings with finance companies.
Read more on this and The Swedish Consumers' Insurance Bureau on
Consumer´s bureau | Konsumenternas