If you’re moving to Sweden for work, studies, or a long-term stay, opening a local bank account is one of the most important steps to settling in. It allows you to receive your salary, pay bills, and manage everyday expenses without worrying about international transaction fees.

Sweden’s banking system is highly digital and efficient, but to get started you’ll need to understand how it works and what documents are required. This guide will walk you through everything you need to know to open your first bank account in Sweden.

Currency in Sweden

Sweden’s official currency is the Swedish Krona (SEK), symbolized as “kr.”
While Sweden is part of the European Union, it has not adopted the Euro, so you’ll need a local account in SEK for daily transactions.

The Swedish banking system is one of the most advanced in the world. Most payments are made digitally using mobile apps or Swish (Sweden’s national instant payment system). Having a local account ensures you can use these services and avoid foreign exchange fees.

Best Banks in Sweden for Newcomers

Sweden offers a mix of major traditional banks and modern online banks, most of which provide English-language services and mobile apps. Here are the best options for newcomers in 2026:

Swedbank

One of Sweden’s largest and most established banks, with excellent nationwide coverage.

• Perk for newcomers: English-speaking staff at major branches and a clear onboarding process for expats.

• Why choose it? Reliable, widely accepted, and great for those looking for traditional in-branch support.

SEB (Skandinaviska Enskilda Banken)

A popular choice for professionals and international residents due to its strong international network.

• Perk for newcomers: Tailored banking packages for non-Swedish residents and expatriates.

• Why choose it? Perfect if you’re relocating for work and need smooth salary transfers and online tools.

Handelsbanken

Known for personal service and local branches across Sweden.

• Perk for newcomers: Flexible approach to documentation and English-language assistance.

• Why choose it? A solid choice if you prefer a traditional, customer-focused bank with in-person service.

Nordea

One of the largest banks in the Nordics, with easy integration between Sweden and other European countries.

• Perk for newcomers: English mobile banking and strong online systems.

• Why choose it? Great for expats who might move within the Nordic region or have cross-border income.

Revolut / Lunar (Digital Banks)

Digital-first banks like Revolut and Lunar have become increasingly popular in Sweden for their ease of use.

• Perk for newcomers: Instant account creation via mobile, multi-currency support, and no need for a personal visit.

• Why choose it? Ideal for digital nomads, students, or anyone who wants a modern, app-based banking experience.

Documentation Needed

Opening a bank account in Sweden requires certain documents, depending on your residency status. Here’s what you’ll typically need:

1. Valid Passport or National ID – Proof of identity.

2. Swedish Personal Identity Number (Personnummer) – This is crucial for most banks. It’s issued by the Swedish Tax Agency (Skatteverket).

3. Proof of Address in Sweden – A rental agreement, utility bill, or registration certificate (folkbokföring).

4. Employment Contract or Proof of Study – To verify your purpose of stay.

5. Residence Permit (for non-EU citizens) – Confirms your legal right to live in Sweden.

 If you don’t yet have a Personnummer, some banks (like SEB and Swedbank) may allow you to open a limited “non-resident” account, though features like Swish and online banking may be restricted.

Tips for Opening a Bank Account in Sweden as a Foreigner

• Apply for your Personnummer early: You’ll need this number for most services, including full-access bank accounts.

• Book an appointment: Many banks require you to schedule a visit to open an account in person.

• Bring physical copies: Banks often request paper copies of your documents, even if you’ve sent digital ones.

• Expect strong ID checks: Sweden’s anti-fraud regulations are strict — be prepared to verify your identity multiple times.

• Get BankID: Once your account is active, you can set up BankID, Sweden’s secure digital identification system, which is used for banking, taxes, and online services.

• Use Swish: After getting BankID, you can activate Swish, the mobile app for instant payments — used almost everywhere in Sweden.

• Compare fees: Most basic accounts are free, but some may charge small monthly fees (typically 30–50 SEK).

Final Thoughts

Opening a bank account in Sweden may take a bit of paperwork at first, especially if you’re waiting for your Personnummer, but once it’s set up, you’ll enjoy one of the most advanced and user-friendly banking systems in the world.

Traditional banks like Swedbank, SEB, and Nordea offer strong local support, while digital banks like Revolut and Lunar provide quick, flexible alternatives for newcomers and digital workers.

With your documents ready and a little patience, you’ll be managing your Swedish Kronor like a local, seamlessly paying, transferring, and saving through Sweden’s ultra-digital banking ecosystem.