Easy Ways To Open a Swedish Bank Account (Even Without a Personnummer)

If you've recently moved to Sweden, opening a Swedish bank account is a crucial first step to access the many conveniences of living here.

In this post, I'll share a step-by-step guide on how to open a Swedish bank account to help ease your transition to life in Sweden.

Having a local bank account in Sweden is essential in this cashless society. Over the years, the barriers for foreigners opening a Swedish bank account have increased, making it not as easy as it was a few years back.

Here are my recommendations if you...

• want a digital bank and frequently engage in international transactions or require a multi-currency bank: Wise is a great option as it provides multi-currency bank details in nine countries, including in the EU, making global money transfers straightforward.
• want a digital bank and travel often: Revolut might be your go-to, as it not only provides bank details for SEPA transfers in euros and Swedish krona but also offers a debit card that you can use to spend in over 30 currencies, including SEK, effortlessly during your travels.

Be sure to explore the steps to open a local Swedish bank account below.

In most cases, to open a Swedish bank account, you'll need a Swedish personal number, proof of address, and information regarding your employment or studies. This requirement can be frustrating for newcomers, especially those moving to Sweden as dependents without proof of employment.

This is why I'm sharing some options and strategies to help you open a bank account in Sweden. The best Swedish bank account for you will depend on your needs and personal situation.

Types of bank accounts in Sweden

There are two main types of bank accounts in Sweden:

1. Payment Account (Betalkonto, Privatkonto, Lönekonto, Transaktionskonto, or Personkonto): This account has different names in each bank, but they are all the same. This is a basic account for everyday transactions, like paying bills and receiving your salary. It comes with a debit card and online banking access.
2. Savings Account (Sparkonto): These accounts are designed for long-term savings and often offer higher interest rates.

Requirements to open a Swedish bank account

Even without a Swedish personal number, you have theright to open a Swedish bank account (payment account) with basic functionsas long as the bank can check your identity. This is also applicable if you're a dependent of someone holding a work permit or student visa.

Basic functions mean

• Open, manage, and close a payment account
• Deposit money into a payment account
• Withdraw money from a payment account
• Make the following transactions within the EEA: direct debit, debit card payments including online purchases, payments
• Debit card

Here's the list of the most common requirements for opening a bank account in Sweden:

• Swedish personal number (personnummer)*: This is a unique number assigned to every registered resident in Sweden. You'll need to apply for a personnummer as soon as you move to Sweden.
• Proof of residence: You must provide proof of your address in Sweden, such as a rental contract or utility bill.
• Valid ID or Passport: Bring your passport or national ID card to prove your identity.
• Employment or Study Information*: Some banks may require proof of employment or study, such as an employment contract or acceptance letter from a university.

*Find more details below on how to open a Swedish bank account, even without a personnummer or employment.

How to open a Swedish bank account

1

Research Swedish Banks.

There are several banks in Sweden to choose from. When choosing, think about things like fees, types of accounts, and branch locations. I'll highlight the banks where you can also get a bank ID.

I recommend opening a bank account with eitherHandelsbanken,Nordea Bank, orSEB. These are major banks in Sweden and they've proven to be helpful for first-time account openings.

1. Nordea
2. SEB
3. Handelsbanken
4. Swedbank
5. ICA Banken
6. Danske Bank
7. Länsförsäkringar
8. Skandia
9. Sparbanken Syd
10. Ã…landsbanken

2

Contact the bank of your choice and schedule an appointment.

Most banks that I have tried, including Handelsbanken, Nordea Bank, and SEB, require you to schedule an appointment to open an account, during which they usually inquire about your eligibility.

Now, if you lack employment or study information, it's likely that you'll be rejected, and the bank won't even assist you in booking an appointment.

You have theright to open a Swedish bank account (payment account) with basic functions.

It's crucial that at the beginning of your call, you mention that you only need a payment account with basic functions and that you possess the necessary documents for the bank to verify your identity.

Unfortunately, the waiting time to secure an appointment, much like with other services in Sweden, can be incredibly slow. Don't be surprised if the available schedule you receive is for a date three months away.

3

Gather the required documents

When you book an appointment with a bank, they will most likely mention the documents you'll need to bring. Each bank may have different document requirements. Generally, be prepared with your Swedish personal number (personnummer), proof of residence, a valid ID or passport, and information regarding your work or studies.

TIPS

• If you can't provide employment or study information: You might be in Sweden as a dependent and typically won't have employment or study details right after moving. In such cases, you can present the income information or tax return of the person you are dependent on.

4

Visit a local branch and submit your application to open a Swedish bank account.

On the day of your appointment, the bank will ask you to fill out an application form before reviewing and processing your application. They will guide you through the process and may request additional information or documents. Remember, if you don't have all the requirements, only opt for the basic payment account.

You should receive the bank's decision within two weeks.

If your application is approved, you'll receive a debit card and online banking access. If your application is denied or you are unsatisfied with the decision, you can follow the steps outlined below.

You only need to visit a local branch when opening a Swedish bank account for the first time. In the future, you can simply use your BankID to open new Swedish bank accounts.

What is a BankID in Sweden

A BankID in Sweden is used to securely identify yourself digitally. Since almost everything in Sweden is online, you can use your BankID to digitally sign your documents, pay online, pick up your package from a service point, or doalmostevery transaction that you do online.

There are three types of BankIDs:

1. BankID på kort (BankID on the card)
2. BankID på fil (BankID on file)
3. Mobile BankID

You need to have a card reader that is connected to your computer to use the BankID on the card. While Mobile BankID is an app that you download on your phone.

How to get a Bank ID

A bank ID is used to securely identify yourself digitally and is essential for many online services in Sweden. You can get a Bank ID if

1. You have a Swedish bank account from one of the banks that issue a Bank ID
2. You have a Swedish personal number

Not every Swedish bank offers a Bank ID. Only the ten banks I listed above do. The process to obtain a Bank ID varies from bank to bank. However, in most cases, you can order your Bank ID online through your bank's website.

How to pay bills without a Swedish bank account

Without a Swedish bank account, paying bills is still manageable. Use a Swedish Krona account with digital banks likeWisefor direct bill payments, avoiding extra fees.

Alternatively, visit aForex Bankwith your bill; they'll process the payment for a nominal fee. However, consider digital solutions for better exchange rates and a modern banking experience.

FAQs on how to open a Swedish bank account

Final Thoughts: Is it easy to open a Swedish bank account?

Opening a Swedish bank account is theoretically straightforward. However, in practice, given the current bureaucracy, it can be particularly challenging for newcomers.

Lately, banks have not been making it easier for foreigners to open accounts, even with complete requirements. However, this doesn't mean it's impossible to open an account.

I hope you can navigate through the process and open a Swedish bank account without any hurdles! It's vital to know your rights and provide all the required documents the bank requests. If you are unsatisfied with the outcome of your application or if you are denied the opportunity to open a bank account, request the denial reason in writing and consider filing a complaint with theNational Board for Consumer Disputes.

Don't worry, this is a one-time hassle! Once you have a Swedish bank account, the bank can provide you with a mobile BankID, which you can use to effortlessly open new accounts online.

Uncertain about the next steps after arriving in Sweden? Ensure you don't miss out on theimportant things to do after moving to Sweden.