A list of banks in Sweden

Zorica Lončar

Thinking of moving to Sweden? You might be going there to study, work or set up a business. Whatever the situation may be, it could be useful to open a Swedish bank account.

The big question is - which bank to choose? We’ve put together a list of banks in Sweden, along with the most important info on accounts and services they offer. This should be helpful while you’re still settling in.

First, let’s take a look at how banking works in Sweden nowadays.

Banking in Sweden (an overview)

Towards the end of last year, there were a total of 123 banks in Sweden. The banks can be divided into four categories: commercial banks, savings banks, foreign banks and co-operative banks. Out of the 123, 77 are commercial. More than a half of them are Swedish banks.¹

In order to open a bank account in Sweden as a non-resident, you need your Swedish tax identification number or personnummer. Besides that, you’ll be asked to provide some basic documents. such as your passport, resident permit, employment contract or your Swedish ID card.²

Sweden is known to be an almost cashless country, but you can still find ATMs here. The banks set their own ATM fees, so make sure you check before using them. Remember that the official currency in Sweden is the Swedish krona (SEK), so conversion fees may apply.

Like in other countries, banks in Sweden tend to charge high fees for international transfers outside of Europe. To avoid paying these expensive fees, consider using an alternative such as the Wise multi-currency account. It’s ideal for international transactions, and could help you save up quite a bit of money.

Top Banks in Sweden

Bank nameOperational HQ
Nordea BankStockholm
Ikano BankMalmö
Westra Wermlands SparbankArvika
Länsförsäkringar BankStockholm
Danske BankStockholm


Swedbank has over 7 million customers, which is the most out of all Swedish banks.⁴

Once you become their customer, you will have access to your account, their customer service and online banking. The Nyckelkund package is one of their most popular ones at 39 SEK a month and if you’re under 22, your account will be completely free.


Handelsbanken is one of Sweden’s longest working banks. They have both transaction and savings accounts, to help you with everyday and long term finances. Their basic offering package includes a salary account called Allkonto current account, a Bankkort Maestro card and online and mobile banking services.⁶


Skandinaviska Enskilda Banken or SEB is a leading northern European bank group. They are leaders in private banking and also among corporate clients.⁷

Their basic personal account comes at 50 SEK a month, but it’s free for those under 24. Besides the usual services, Swedish accounts often offer Swish, a Swedish mobile wallet that ensures safe and easy transfers.⁸

Nordea Bank⁹

Nordea Bank is one of Sweden’s leading banks, ideal for everyday banking. Their website states that, when opening your account, you might get asked why you need the account in the first place. So, just know it’s all part of their regular procedure.

Their most popular service is the Vardagspaketet and it comes at 39 SEK per month. It includes a current account called Personkonto, where you deposit your salary, pension or something else. You can link it to your card and to Swish as well. You also get the Nordea Mobile app, Nordea Netbank services, the Nordea Debit card and the Nordea Gold credit card. Students get this package free of charge.¹⁰

Ikano Bank

Ikano Bank offers personal loans, savings accounts, mortgages and credit cards. Both IKEA and Ikano Bank were founded by the same family, so they even offer lower interest mortgages in collaboration with IKEA.¹¹

Their savings accounts and private loans are their most popular service.

Also, if you shop with the Ikano credit card, you get points from all your purchases. There’s no annual fee and you can choose to pay in installments.¹²

Westra Wermlands Sparbank

Westra Wermlands Sparbank is a savings bank founded in 1856. They’re a bank focused on their local community, as they reinvest their surplus in the development of western Värmland.¹³

If you need secure personal finance packages, consider Sparbank’s Ekenpaketet and Guldekenpaketet. Ekenpaketet provides basic services for 175 SEK every 6 months, such as a debit card, mobile and internet banking.¹⁴

Guldekenpaketet users also get their own advisor, a free safe deposit box and the Mastercard Gold credit card. All of this can be yours for 89 SEK/month.¹⁵

Länsförsäkringar Bank¹⁶

Although it’s probably the trickiest to pronounce out of all banks in Sweden, Länsförsäkringar offers fairly simple services that will satisfy most users. Upon becoming their client, you get the Bekväma vardagen package, meaning ‘comfortable living’. In it you can find both a personal and a savings account, a bank card, two mobile apps and some other extra perks. The package is 275 SEK per year.

Danske Bank

This Danish bank is one of the most stable banks in the Nordic region. Besides current accounts, they offer personal and mortgage loans, investment and pension accounts.¹⁷

Their basic everyday account is called Danske Konto, while Danske Toprente and Danske Indlån are their savings accounts. If you live between Sweden and Norway, they have an account called Konto i norden that you can easily use in both countries.


This bank was founded in 1919 on the Åland Islands, but it now has offices in Stockholm, Gothenburg and Malmö.

They offer a range of accounts, including the Premium account, Åland account, and Fixed interest account. Their Basic account offers what most other banks do - bank cards, mobile and internet banking. Besides these, Ålandsbanken is famous for their private banking services.

Top Online bank accounts in Sweden

Along with traditional banks, Sweden also has some digital banks you can choose from. This includes:

  • N26 - a mobile bank with no physical branches that values secure and convenient transactions. There’s a couple of account options, including a free basic one.
  • Lunar - a Danish 100% digital bank with over 650,000 users in Nordic countries only. Benefits also include different discounts and cashback offers.
  • Northmill - a local fintech that offers digital banking services, savings accounts and consumer loans.

Manage your money internationally? Check out the Wise multi-currency account

If you want to send money internationally, or use your debit card while travelling, you could find it expensive with traditional banks in Sweden.

Luckily, there’s a money-saving alternative available. Open a Wise multi-currency account and you can send money worldwide for low fees and fair exchange rates.

You can even get an international debit card for spending in 175 countries, Sweden included. It automatically converts your money to the local currency (SEK) at the mid-market exchange rate, whenever you spend.

This makes it perfect for travellers, expats, foreign students and anyone else living an international life.

Join Wise today

Pricing/fees: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Sources used for this article:

  1. Swedish Bankers - banks in Sweden
  2. Internations - open a bank account in Sweden
  3. Swedbank - become a customer online
  4. Swedbank - about
  5. Handelsbanken - accounts
  6. Handelsbanken - basic offering
  7. SEB Group - SEB in Sweden
  8. SEB Sweden - everyday banking
  9. Nordea Bank - become a customer
  10. Nordea Bank - Vardagspaketet
  11. Ikano Bank - homepage
  12. Ikano Bank - Ikano Card
  13. Westra Wermlands Sparbank - purpose and vision
  14. Westra Wermlands Sparbank - Ekenpaketet
  15. Westra Wermlands Sparbank - Guldekenpaketet
  16. Länsförsäkringar Bank - become a banking customer
  17. Danske Bank - personal
  18. Ålandsbanken - facts about the bank

Sources checked on 20-Apr-2023.

Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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