Step 7: Banking in Sweden
With a bank account and BankID in place, Sweden's digital side opens up.
Having a bank account early makes it easier to receive your first salary. It also enables you to get BankID, the digital identification used in Sweden for many everyday services, such as paying bills, accessing healthcare and collecting parcels.
Visiting a bank
Banks offer both booked appointments and drop-in visits They
often have limited weekday hours.
How banking works in Sweden
Sweden has both large national banks and regional ones, and they all offer everyday services such as accounts, cards and mobile banking.
Some services differ between banks, including how international transfers work, which payment options are available and how their app or online banking service is designed.
What to bring when opening an account
- Passport or Swedish ID card
- Residence permit card, if you have one
- Employment details
- Address in Sweden
How to open an account and set up basic services
When you visit a bank to open your account, staff will check your identification and ask a few questions about your work and your time in Sweden. Once the routine checks are done, the bank will open your account and help you get started.
You will usually get a debit card and access to the bank’s app, where you can check your balance, make payments and manage your account.
Your account will also have an IBAN, which you may need to share with your employer for salary payments or for receiving transfers from abroad.
Identity numbers and banking
- A personal identity number lets banks process your account setup more quickly.
- A coordination number may result in a longer process, and routines differ between banks.
Getting started with BankID
Once your bank account is active, your bank will guide you through setting up BankID. The process starts in your bank’s app or online banking service before you activate it in the BankID app.
You can use BankID to log in to many services and to confirm payments and other actions with banks, authorities and private companies. It is also used for mobile payment services such as Swish.
Paying in Sweden
Sweden is mostly cash-free, and most people pay with a debit card or by using mobile payment services. Many shops, cafés and everyday services accept card or mobile payments only, so having your card or phone with you is usually all you need.
Swish is the most common mobile payment app used to send and receive money in real time. It is especially used between friends and in smaller shops and markets.
Next step
With your bank account and digital identification in place, you are well prepared for many practical aspects of everyday life in Sweden. The next guide introduces working life in Sweden and what to know when you start your job.
