Best Bank Accounts in Sweden for Expats (2026)

Compare the best Swedish bank accounts for expats. From digital banks to established Nordic institutions, here is everything you need to know about banking in Sweden. Updated March 2026.

Tax note for Sweden: Sweden taxes interest income at 30%. Banks report interest to Skatteverket automatically. Savings accounts with Swedish banks are covered by the deposit guarantee scheme up to SEK 1,050,000 per person per institution.

Our pick for Sweden

Wise — Real exchange rate, no hidden fees

Trusted by 16M+ people worldwide. Send, spend, and receive in 40+ currencies at the real mid-market rate. Multi-currency account with local bank details in 10+ countries. No monthly fees.

Open free Wise account

Free to create an account. Fees apply to transfers and card usage.

Bank comparison for Sweden

Bank	Monthly fee	Card fee	ATM withdrawals	FX fee	Best for
Wise	0 SEK	70 SEK (one-time)	2 free/mo, then 5 SEK	0.33-0.6%	International transfers	Open account
Revolut	0 SEK (free plan)	0 SEK	2,000 SEK free/mo	0% (weekdays)	All-in-one app
N26	0 SEK (Standard)	0 SEK	3 free/mo, then 20 SEK	1.7%	Free digital banking
Nordea	0 SEK (basic)	0 SEK	Free at Nordea ATMs	Varies	Full-service local bank
Handelsbanken	0 SEK (basic)	0 SEK	Free at SHB ATMs	Varies	Personal service

How we chose these banks

We evaluated banks available to expats in Sweden based on monthly fees, card costs, ATM networks, foreign exchange markups, ease of account opening for non-Swedish nationals, and app quality. All listed banks are covered by the Swedish deposit guarantee scheme (up to SEK 1,050,000) or equivalent EU coverage.

Swedish banks typically require a personnummer (personal identity number) and BankID for full access. Wise and Revolut can be opened immediately with just a passport.

What to look for as an expat in Sweden

Personnummer -- Most Swedish banks require a personnummer to open an account. Getting one from Skatteverket takes 2-8 weeks after registering. Wise and Revolut work without one.
BankID -- Sweden's digital identity system is essential for online banking, paying taxes, and accessing government services. You need a Swedish bank account to get BankID.
Swish -- Sweden's instant payment app is used everywhere, from splitting bills to paying at markets. You need a Swedish bank account and personnummer to use Swish.
Cash-free society -- Sweden is largely cashless. Card and Swish payments are accepted almost everywhere. ATM access is less important than in other countries.
Salary account -- Your employer will likely require a Swedish bank account for salary payments. Nordea or Handelsbanken are widely used for this purpose.

Calculate your Sweden salary first

Know exactly how much you take home after Swedish income tax before deciding how to manage your money.

Sweden salary calculator