Sweden BankID: what it is and how it works

If you’re living, working, studying or traveling in Sweden and have a Swedish bank account you’ll probably have heard of the Swedish BankID. BankID is a digital ID that makes proving your identity easier than ever — in fact it was used an astonishing 17 million times a day throughout 2021, that’s 200 times a second.

This guide covers the key questions, like what is a BankID, and how do you get one. We’ll also introduce Wise as a smart solution when you need to send money to or from Sweden. 

Get your Wise account online or in the Wise app, get verified with BankID, and send money all around the world with the real exchange rate and low, transparent fees.

What is a Bank ID?

BankID is a Swedish electronic ID verification service. It lets you prove your identity in digital environments, like showing your passport or driving license, but online. Once you have a BankID you’ll find it very easy to prove your identity when you need to do so for things like applying for a new bank account or signing a contract¹.

How does the Swedish Bank ID work?

Swedish BankID is a secure online and mobile service used to prove your identity online. You can get a BankID if you set up a bank account with an enrolled institution, including²:

• Danske Bank in Sweden
• Handelsbanken
• Ica Banken
• Länsförsäkringar Bank
• Nordea
• SEB
• Skandiabanken
• Sparbanken Syd
• Swedbank
• Ålandsbanken in Sweden

All you’ll need to do is open your preferred account, and ask the bank to also set up BankID for you. The full step by step guide to getting your Swedish BankID is coming up in a moment.

Can you get a Sweden Bank ID as a foreigner?

If you’re a US citizen living in Sweden legally, you should have no problems getting a Swedish BankID. Whether or not you can get one depends on whether or not you’re eligible to open a bank account. 

Usually you can open a bank account in Sweden as long as you’re over 18, have a Swedish residential address and a residence permit. 

Send money to or from Sweden with Wise

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International payments to Sweden — and around the world — cost less with Wise. You’ll be able to make fast, secure money transfers to 60+ countries, using the mid-market exchange rate and low, transparent fees. 

That means you save money versus using your normal bank —and because 45% of Wise transfers are instant, with 80% arriving within 24 hours, the chances are that you’ll also save time.

Next time you need to send money to Sweden, see how much you can save with Wise.

Create a Wise account in minutes 🚀

How do you get your Swedish Bank ID?

Here’s the step by step process you need to know to get your Swedish BankID. There are a few steps but each one is pretty simple, and you’ll find the customer service staff in the institutions involved are super helpful if you have any questions.

Step 1: Get a Personnummer, the Swedish Tax ID

Apply for your Personnummer at your local Skatteverket — the Swedish tax office. You’ll be asked to provide a few documents including your passport, visa or resident card, and a proof of address. Your Personnummber will not only help you get a bank account and BankID, you can also use it for everything from store discounts to borrowing books from your library. 

Step 2: Apply for a Swedish ID card

You’ll be able to complete this step back at the  Skatteverket, once your Personnummer is all set up. Your Swedish ID card is handy to have as a familiar way to prove your identity when you’re visiting places in person.

Step 3: Choose a bank and an account product

Your next step is to open a bank account. Choose a bank from the list of BankID compatible institutions, like Danske Bank, Handelsbanken or Ica Banken, and pick the account that suits your needs.

Step 4: Open your bank account online or in person

Depending on the bank you choose you may be able to get your account all set up online —  banks with a great digital presence like Ica Banken for example, can often offer a smooth online process for account opening. You’ll need to present a range of documents and information including your Personnummer and Swedish ID card.

Step 5: Get your BankID through your preferred bank

Once you have a bank account all set up, you’ll be able to ask to have Bank ID set up — your bank will walk you through the process, and you’re all done! 

So there you have it — the full guide to getting your Swedish BankID. Once you have it, you’ll find it’s very easy to use and helpful to prove your identity in a broad range of online environments. 

And don’t forget — if you’re sending money to or from Sweden — or anywhere else in the world for that matter, you could save with Wise.