Having a Swedish bank account will make your life in Sweden a lot easier. Most things are paid for by credit/debit cards. Newbies often find it surprising and a bit costly – considering the international fees.
So, it might be a good idea for you to open a Swedish bank account. It is not really difficult to do but you need to take some previous steps before you do so.
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What you need to open a bank account
First you need to have a personal number – personnummer. This is pretty much non-negotiable. Any Swedish bank will ask you for that. Then you will need a Swedish ID-Card. Some banks might settle with a valid passport. Yet this depends on the bank and in some extend on the good will of the bank official.
Online banks or banks with a physical office
There are many banks in Sweden of course. Some have been around for a very long time and tend to have physical offices in many locations all over Sweden. If you want an actual person to talk to, those could be an option for you. Just do an internet search for the name of your town + for instance – Swedbank, Handelsbanken, Nordea and SEB.
The other options is online banks. They usually offer the same type of services as the physical location banks except that you can only call, chat or email them for support. Some options are:
Bank Norwegian* is connected to the airline company Norwegian which means that you can connect your bank card to their travel programs.
Santander Consumer Bank* offers the usual of loans, credit cards and savings accounts.
Marginalen Bank has the usual in loans, cards and accounts but they also have a credit card where a percentage of what you buy becomes points for which you can buy trips, hotel stays etc.
Bynk makes the claim that they are “like banks should be”. Now, that is up to the users but they offer more freedom than usual when it comes to your loans. You can for example pause your payments, pay extra or change your loan along the way.
Now if you haven’t paid your bills on time, you may get something called a “betalningsanmärkning” which can make it quite difficult to get loans, buy anything at all on credit or even get a cell phone plan. If you find yourself in this situation you can use Anmärkning.se*. This is a comparison site for loans that will take in to consideration that you have a mark on your payment record and can possibly help you find a solution if you want to buy an apartment or such like.
If you are looking to take a loan, make sure to compare the offers on the market before making a decision.
Finansmatch* allows you to you send your application to around 40 different loan institutions so you can make your own comparisons.
Compriser* – allows you to compare private loans and insurances online.
Financier* – you can apply for loans up to 600.000 and compare the loans to up around 20 banks.
Make sure to get your Internet banking settled when you open your bank account. This will facilitate your life in Sweden even more. The Internet banking will make it possible for you to do all your banking online. You will be able to pay bills, make money transactions and check your account from anywhere anytime.
This service is generally included in the whole bank account “package” however you mostly need to activate it. Your bank official will explain how to do that, but remember ask him or her about it.
Mobile Bank ID
Another service that will facilitate your life in Sweden is a BankID or a Mobile BankID. This service makes it possible for you to sign – transactions, documents, etc. – online. Instead of printing, signing and sending documents with the post, you sign the document online with your BankID.
The BankID generally comes in two versions: a stationary one (that you download on your computer) and a mobile one (that you can use on almost any computer or phone). The first version is free of charge. The second one generally costs around 500 SEK. Your bank will help you acquire a BankID, just ask them about it.
Finally, it is unfortunately not uncommon that newbies are denied a bank account or bank card. If this has happened to you, this is what you do.