Sweden
Sweden combines a world-class social safety net with a thriving tech sector, high English proficiency, and a structured immigration system for skilled workers.
For information only. This guide provides general information only and does not constitute immigration, legal, or financial advice. Visa rules, salary thresholds, and qualification requirements change frequently. Always verify critical decisions with official government sources and a qualified professional. Full disclaimer ↗
Banking in Sweden for Expats
To open a bank account in Sweden, expats can visit expat-friendly banks like SEB, Handelsbanken, or consider digital options like Revolut. However, to access online banking and other essential services, they will need to obtain a BankID, which requires a personnummer from Skatteverket and a visit to an issuing bank with their passport and personnummer. Some banks may also offer an alternative route using a coordination number, which can be checked with SEB or Handelsbanken.
If you're coming from your home country:
Bank Account Comparison
| Bank | Type | Expat-friendly | Notes |
|---|---|---|---|
| SEB | Full-service bank | ✅ | Full English digital banking available. Expat-friendly onboarding — can open account before receiving personnummer with work permit and passport. Offers BankID once personnummer is registered. |
| Handelsbanken | Full-service bank | ✅ | Local branch model with strong personal service. English support available. Preferred by many professional expats for mortgage products. |
| Swedbank | Full-service bank | — | Large retail bank; requires personnummer for most services. Swedish-language primary interface. Less smooth for new arrivals. |
| Revolut | Multi-currency account | ✅ | Widely used by expats as a bridging account before receiving personnummer and BankID. Full EUR/SEK/GBP multi-currency support. Cannot receive Swedish salary directly on all accounts — verify IBAN compatibility. |
| Klarna (Konto) | Digital bank | — | Swedish fintech with a savings/spending account. Requires BankID to open — not suitable as a first account for new arrivals. |
🪪 About BankID
BankID is Sweden's national digital identity system and is required for nearly all online services — banking, government portals (Skatteverket, Försäkringskassan), healthcare (1177), apartment rentals, and more. To get BankID: (1) obtain a personnummer from Skatteverket after registering your Swedish address, (2) visit an issuing bank (SEB, Handelsbanken, or Swedbank) in person with your passport and personnummer, (3) the bank activates BankID on your mobile phone. Without BankID, many everyday tasks in Sweden are significantly harder. Some banks now offer a coordination number (samordningsnummer) route — check with SEB or Handelsbanken.
Documents you'll need
- ✓ Valid passport
- ✓ Swedish residence permit or coordination number (samordningsnummer)
- ✓ Proof of Swedish address (lease agreement or employer letter)
- ✓ Employment contract (some banks require this for non-EU applicants)
Sending money home from Sweden
Bank transfers between Sweden and your home country are expensive — banks typically add 2–4% margin on top of the exchange rate, on top of fixed transfer fees. These services use the mid-market rate and charge transparent, low fees:
Always compare rates on the day of transfer — exchange rates fluctuate. Settily may earn a commission if you sign up via these links; this never affects which services we recommend.
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