Is it better to use cash or card in Sweden?

Are you looking forward to a trip to Sweden? If the answer is yes, you’re likely in the process of creating your itinerary and establishing a travel budget. Regardless of how much you plan to spend, it’s important to understand the financial habits of people in Sweden compared to those in the UK.

Swedish residents rely almost entirely on cards and digital wallets. However, it’s good to have cash in certain situations. Since it can be tricky to decide what you should rely on during your trip, we’re here to help. We’ll dive into the details to answer the question - Is it better to use cash or card in Sweden?

We’ll also show you a cost-effective way to manage your spending in Sweden. For any international purchases, whether online or in person, you can rely on the Wise card. You can even withdraw cash and spend like a local for low fees* at the mid-market exchange rate.

How cash-centric is Sweden?¹

Sweden is not cash-centric at all, since the majority of residents prefer cashless payment methods. Statistics show that debit and credit cards together account for around 70% of all transactions, with debit cards being more popular. Cash, on the other hand, is used in 5% of cases.

Also, digital wallets are becoming increasingly popular in Sweden. They are used for around 20% of transactions. Predictions suggest that cards and e-wallets will become the predominant payment options in the future.

Cash etiquette in Sweden²

Tipping isn’t really part of Swedish culture, especially when compared to many other countries. While it is always appreciated, it is not typically expected. In other words, tipping is seen as a nice gesture rather than a requirement.

There’s no set amount for tipping, but people often leave 10% of the bill. In other cases, it’s common to round up to the nearest whole number. This way, you don’t have to worry about percentages.

Cash or card in Sweden - the comparison

We’ve listed some situations where you’ll be paying for things in Sweden. Here’s whether you’ll be able to pay by card, in cash or both:

Paying for…	Card 💳	Cash 👛
🚕 Taxis3	Usually, yes	Yes
🏪 Convenience stores4	Usually, yes	Usually, yes
🚌 Public transport5	Usually yes, but check whether there’s a card reader	Yes
🍽️ Restaurants	Yes	Yes
🎣 Fishing tours	Yes	Yes

Using your card in Sweden at an ATM⁶

There are over 2,100 ATMs in Sweden. You can easily find one in all big cities, but even smaller towns typically have some available. They’re located in shopping malls, at main squares, main streets and, of course, banks.

The term ‘bankomat’ is often used for ATMs. However, this usually refers to a shared ATM network owned by five banks - Nordea, Handelsbanken, Swedbank, SEB, and Danske Bank.

The withdrawal limit is between 2,000 and 5,000 SEK per transaction.

Check out the latest GBP to SEK conversion rates below:

Will my UK debit card work in Sweden?

Yes, you’ll be able to use your UK debit card in Sweden. Keep in mind that you’ll get charged additional fees sometimes for using your card abroad.

Can I use my UK credit card in Sweden?

Yes, you can use your UK-issued credit card in Sweden, as long as you go to a place that accepts cards.

Reasons to use cash in Sweden

Cash is rarely used in Sweden, but you still might benefit from it in certain situations. For example, cash is ideal for small purchases or for tipping your server or hotel staff, so it’s good to keep some Swedish krona on you.

More importantly, you might miss out on some experiences if you don’t carry cash, such as outdoor markets or food stalls.

Reasons to use credit or debit cards in Sweden

Swedish people mostly rely on cards on a daily basis, so you’ll fit right into their lifestyle if you do that too. Not only are cards accepted everywhere in Sweden, they’re also more convenient for travelling. When you use cards, you don’t have to exchange currency or bring spare Swedish krona back home.

Are contactless card payments common in Sweden?

Contactless payments are very popular in Sweden, as well as in the rest of Scandinavia. A few years ago, around 70% of all card transactions were tap-to-pay.⁷ The contactless limit in Sweden is 400 SEK, after which you’ll need to enter your PIN. Once you reach 1,500 SEK, you’ll need to use your chip and PIN.⁸

Your Wise card can also be used for contactless payments in Sweden. If you don’t want to carry cards with you, you can get the Wise virtual card with the same features.

Other payment methods in Sweden

Besides traditional credit and debit cards, other payment methods are also available in Sweden.

Mobile payment⁹

Mobile and digital payments are becoming very popular in Sweden and they’re used for 20% of transactions. Some well-known digital wallets and payment apps such as Apple Pay, Google Wallet and PayPal are also used here, on a daily basis.

However, there are some Swedish options available as well. One of the most popular ones is Swish, an app with around 8 million users. Swish allows users to connect their bank accounts to their phone numbers. They can then send payments to both friends and family as well as businesses.

💡Tip: If you plan on using any of these wallet apps during your trip, make sure you update them before you leave to avoid any issues.

For an additional layer of security, you could add your Wise virtual card to your wallet. It has all the benefits of a regular Wise card, but it exists in your phone only. You can freeze your Wise virtual card after every transaction, too.

Buy now pay later options (BNPL)⁹

One of the biggest BNPL services, Klarna, originated in Sweden in 2005. Klarna allows you to split a larger purchase into multiple smaller payments, with the first paid upfront. BNPL services are used for around 25% of e-commerce payments in Sweden.

Besides Klarna, Swedes download and use various BNPL apps. For example, options like Walley, Qliro or Zaver are also popular.¹⁰

What is the best way to pay in Sweden: cash or card?

If you’re still wondering - cash or card in Sweden? - the answer is most definitely cards. Sweden is a predominantly cashless country, so you could probably rely only on your cards, whether physical or virtual. Make sure your digital wallet apps are up-to-date and ready to use.

However, the best option for spending in Sweden is combining cash and cards. While cards are more convenient and accepted everywhere, cash can be a good option for tipping or making small purchases.

Spend like a local in Sweden with the Wise card

Want to spend like a local in Sweden without worrying about exchange rates and hidden fees? The Wise card might be just the option you were looking for.

You can use your Wise card for international payments, from your accommodation costs to daily expenses. It automatically converts your pounds at the mid-market exchange rate with only a small, transparent currency conversion fee*.

You can also use it to easily withdraw cash from the ATMs in Sweden. Each month, you can make 2 withdrawals of up to 200 GBP for free. After that, there is a charge of 0.5 GBP per withdrawal. There’s also a 1.75% fee on any amount you withdraw above 200 GBP. Keep in mind, however, that additional charges may occur from independent ATM networks.

Spend like a local with Wise 💳

Cash or card in Sweden - FAQs

Here are some of the most frequent questions about using cash or cards in Sweden:

What is the best currency to use in Sweden?

The best currency for spending in Sweden is the official currency - the Swedish krona.

Can I use a UK debit card in Sweden?

Yes, you can use a UK-issued debit card in Sweden. Keep in mind that some extra fees may apply for using your card abroad.

Are ATMs free in Sweden?

It depends, some ATMs in Sweden are free, while others will charge you certain fees.

How much cash can I take from the UK to Sweden?¹¹

You can bring up to €10,000 in cash into Sweden before needing to notify Swedish Customs.

How much money do I need per day in Sweden?

That largely depends on your spending habits and travel style. However, you can always withdraw more money if you end up needing it.

Do taxis in Sweden take card payments?³

Swedish taxis usually accept card payments, but make sure you ask in advance.

Sources used:

1. Statista - biggest POS payment methods in Sweden
2. Visit Sweden - tipping in Sweden
3. Taxi Goteborg - taxis in Goteborg
4. Visit Sweden - tipping in Sweden
5. Västtrafik - paying for public transport in Sweden
6. ATM Fee Saver - ATMs in Sweden
7. Nets - contactless payments in Sweden
8. Eurocard - contactless limit in Sweden
9. Pay.com - top payment methods in Sweden
10. Statista - biggest BNPL apps in Sweden
11. Swedish Customs Service - bringing cash into Sweden

Sources last checked on date: 30-Oct-2024