Best Banks in Sweden for Expats 2026: Complete Comparison Guide

Opening a Swedish bank account is one of the first things you'll need to do when moving to Sweden. But which bank should you choose? This guide compares all major Swedish banks with a focus on what matters to expats.

Quick Recommendation

Short answer: For most expats, Handelsbanken is the best choice due to their flexible approach to newcomers and excellent English support. Swedbank is a solid alternative with the most extensive ATM and branch network.

Your Situation	Best Bank
New to Sweden, no personnummer yet	Handelsbanken
Have personnummer, want convenience	Swedbank
Premium service, higher income	SEB
Digital-first, tech-savvy	Klarna or Revolut
Student	Nordea or Swedbank

The Big Four Swedish Banks

Sweden has four major traditional banks, often called "the big four." All offer similar core services but differ in their approach to expats.

1. Handelsbanken - Best for Expats

Why it's great for expats: Handelsbanken is decentralized - each branch operates somewhat independently. This means branch managers can make decisions about opening accounts for newcomers without strict corporate policies.

Feature	Details
Expat-friendly	★★★★★
English support	Excellent
Open without personnummer	Yes (case by case)
Mobile app	Good
Branches	380+
ATMs	Uses Bankomat network

Pros:

• Most flexible about opening accounts without personnummer
• Excellent personal service
• Strong English support
• No monthly fees for basic account
• Good international transfers

Cons:

• App is functional but not the most modern
• Fewer digital features than competitors
• Branch quality varies

Account options:

• Allkonto (checking account) - Free
• Savings account - Free
• Debit card (Maestro) - Free
• Credit card - Varies

How to open: Visit any branch with your passport, proof of address, and employment contract. Call ahead to book an appointment.

---

2. Swedbank - Most Convenient

Why it's popular: Swedbank has the largest ATM network in Sweden (Bankomat) and extensive branch coverage. Their app is excellent.

Feature	Details
Expat-friendly	★★★★☆
English support	Good
Open without personnummer	Difficult
Mobile app	Excellent
Branches	300+
ATMs	1,600+ (Bankomat)

Pros:

• Best ATM coverage in Sweden
• Excellent mobile app
• Strong digital banking
• Good integration with Swish
• Lower international transfer fees

Cons:

• Stricter about personnummer requirement
• Monthly fees for some accounts
• Wait times at branches can be long

Account options:

• Enkla vardagspaketet (basic) - 0 SEK/month
• Utökade paketet (extended) - 50 SEK/month
• Premium account - 150 SEK/month

How to open: Need personnummer. Book online at swedbank.se or visit a branch.

---

3. SEB - Best Premium Service

Why it stands out: SEB focuses on quality service and offers excellent premium banking for higher earners. Good for professionals and executives.

Feature	Details
Expat-friendly	★★★★☆
English support	Excellent
Open without personnummer	Sometimes possible
Mobile app	Very good
Branches	150+
ATMs	Uses Bankomat network

Pros:

• Excellent customer service
• Strong international banking expertise
• Good English support
• Sophisticated investment options
• Sometimes flexible about personnummer

Cons:

• Higher fees for premium services
• Fewer branches than Swedbank
• Can feel corporate

Account options:

• SEB Bas (basic) - Free
• SEB Plus - 45 SEK/month
• SEB Premium - 195 SEK/month

How to open: Contact their international desk or visit a branch. They're sometimes willing to work with expats on a case-by-case basis.

---

4. Nordea - Scandinavian Giant

Why consider it: Nordea operates across the Nordics, useful if you travel or do business in Denmark, Norway, or Finland.

Feature	Details
Expat-friendly	★★★☆☆
English support	Good
Open without personnummer	Difficult
Mobile app	Good
Branches	100+
ATMs	Uses Bankomat network

Pros:

• Cross-Nordic presence
• Good for Nordic business
• Solid mobile app
• Student accounts with benefits

Cons:

• Stricter about documentation
• Fewer Swedish branches
• Customer service can be slow

Account options:

• Vardagsekonomi (basic) - Free with conditions
• Förmånskonto - 49 SEK/month
• Premium - 99 SEK/month

How to open: Personnummer typically required. Book via nordea.se.

Digital Banks and Alternatives

Sweden has embraced digital banking. These options work well as primary or secondary accounts.

Klarna Bank

Yes, the "buy now, pay later" company is also a bank!

Feature	Details
Expat-friendly	★★★★☆
English support	Excellent
Open without personnummer	No
Mobile app	Excellent

Pros:

• Beautiful, modern app
• Instant account opening (with personnummer)
• No fees
• Cashback on some purchases
• Savings accounts with good rates

Cons:

• Limited features compared to traditional banks
• No physical branches
• Newer as a full bank

Best for: Tech-savvy users wanting a modern secondary bank.

---

Revolut

Not a Swedish bank, but widely used in Sweden.

Feature	Details
Expat-friendly	★★★★★
English support	Yes (default)
Open without personnummer	Yes
Mobile app	Excellent

Pros:

• Sign up with just a passport
• Excellent exchange rates
• Multi-currency accounts
• Virtual cards instantly
• Budgeting tools

Cons:

• Not a Swedish bank (Lithuania-based)
• No BankID integration
• Can't use for salary in some companies
• Customer support issues reported

Best for: New arrivals without personnummer, international transfers, travel.

---

Lunar

Danish digital bank available in Sweden.

Feature	Details
Expat-friendly	★★★☆☆
English support	Yes
Open without personnummer	No
Mobile app	Excellent

Pros:

• Modern interface
• Cashback program
• Good budgeting features
• Quick signup

Cons:

• Requires personnummer
• Limited Swedish user base
• Fewer features than traditional banks

---

N26

German digital bank, recently entered Sweden.

Feature	Details
Expat-friendly	★★★★☆
English support	Yes
Open without personnummer	Possible
Mobile app	Excellent

Pros:

• Open with just EU ID
• Free international transfers in euros
• Modern app
• Familiar if coming from Europe

Cons:

• Limited Swedish integration
• No BankID
• Euro-centric (not ideal for SEK)

Bank Comparison Table

Bank	Monthly Fee	Expat-Friendly	English	App Quality	Best For
Handelsbanken	Free	★★★★★	★★★★★	★★★☆☆	New expats
Swedbank	Free-150	★★★★☆	★★★★☆	★★★★★	Daily convenience
SEB	Free-195	★★★★☆	★★★★★	★★★★☆	Premium service
Nordea	Free-99	★★★☆☆	★★★★☆	★★★★☆	Nordic business
Klarna	Free	★★★★☆	★★★★★	★★★★★	Modern banking
Revolut	Free-150	★★★★★	★★★★★	★★★★★	No personnummer

Opening a Bank Account: Step by Step

With Personnummer (Standard Process)

1. Choose your bank based on this guide
2. Book an appointment online or by phone
3. Bring documents:
   • Valid passport or EU ID
   • Personnummer (or letter from Skatteverket)
   • Proof of address
   • Employment contract (helpful but not required)
4. Attend appointment (15-30 minutes)
5. Receive cards by mail (3-7 days)
6. Activate BankID through the app
7. Set up Swish for mobile payments

Without Personnummer (Challenging)

Options are limited, but here's what works:

Best bet: Handelsbanken

• Call ahead and explain your situation
• Bring: passport, proof of employment, proof of address
• Manager has discretion to open accounts

Alternative: Revolut/N26

• Download app
• Sign up with passport
• Video verification
• Limited Swedish functionality but works for basics

Temporary solution: International bank

• If you have HSBC, Citibank, etc. in your home country
• They may help set up Swedish access
• Check with your current bank before moving

Essential Swedish Banking Services

BankID

What it is: Sweden's digital identification system. Required for almost everything - tax filing, healthcare login, signing contracts, even some deliveries.

How to get it:

1. Open a bank account
2. Download BankID app
3. Activate through your bank's app or website
4. Set a 6-digit code

Without BankID you can't:

• Log in to most government services
• Sign rental contracts digitally
• Use many online shopping sites
• Access healthcare portal (1177)

Swish

What it is: Sweden's P2P payment app. Used by 8+ million Swedes. Essential for daily life.

How it works:

• Link to your bank account
• Send/receive money instantly using phone numbers
• Split bills, pay at markets, reimburse friends

To set up:

1. Have a Swedish bank account
2. Have BankID
3. Download Swish app
4. Connect via BankID

Autogiro

What it is: Automatic payment for recurring bills (rent, utilities, subscriptions).

Why use it:

• Never miss a payment
• Often required by landlords
• Simplifies Swedish bureaucracy

How to set up:

• Through your bank's website/app
• Provide your bank account number to billers
• They'll send the autogiro mandate

Fees Comparison

Card Fees

Bank	Debit Card	Credit Card	Replacement
Handelsbanken	Free	200-500 SEK/year	150 SEK
Swedbank	Free	0-500 SEK/year	100 SEK
SEB	Free	350-600 SEK/year	150 SEK
Nordea	Free	0-500 SEK/year	100 SEK

International Transfer Fees

Bank	SEPA Transfer	Outside SEPA	Exchange Rate
Handelsbanken	0-100 SEK	150-250 SEK	Bank rate + margin
Swedbank	0 SEK	100-200 SEK	Bank rate + margin
SEB	0-50 SEK	100-250 SEK	Bank rate + margin
Wise (comparison)	~35 SEK	~35 SEK	Mid-market rate
Revolut	0 SEK	0 SEK	Mid-market rate

Pro tip: For international transfers, use Wise (formerly TransferWise) for best rates. Swedish banks charge high margins on currency exchange.

Tips for Expats

Do:

• Open an account ASAP - Many things require Swedish bank details
• Get BankID immediately - It's essential
• Set up Swish - You'll use it constantly
• Consider two banks - One traditional (Handelsbanken) + one digital (Revolut)
• Check employer preferences - Some require specific banks

Don't:

• Don't carry cash - Sweden is nearly cashless
• Don't use your home bank for daily expenses - Fees add up
• Don't ignore language settings - All banks have English options
• Don't skip the debit card - Credit isn't widely used

Common Expat Questions

Q: Can I keep my home country bank account? A: Yes, and you should for the first few months. But you'll need a Swedish account for salary and daily life.

Q: What if my bank account application is rejected? A: Try another bank. Handelsbanken is most flexible. If all else fails, Revolut works without personnummer.

Q: Do I need a Swedish bank account for salary? A: Most employers require a Swedish account for salary payment. Some international companies may use other methods initially.

Q: How long until I get my card? A: Usually 3-7 business days by mail. Some banks offer instant temporary cards.

Summary

For most expats moving to Sweden:

1. First choice: Open an account at Handelsbanken - most expat-friendly, flexible about documentation
2. Add: Revolut for international transfers and as backup while waiting for your Swedish account
3. Get BankID and Swish immediately after opening your account
4. Consider switching to Swedbank later if you want the best app and ATM access

The most important thing is getting a Swedish bank account. Once you have your personnummer and BankID, you can always switch banks later - it's a straightforward process in Sweden.

---

Wondering what your salary will be after Swedish taxes? Use our Salary After Tax Calculator to find out.