Although Sweden is an EU member, like Britain, it has not adopted the Euro currency and uses Swedish Krona (Sk or SEK). Literally, krona means crown in Sweden and one krona is subdivided into 100 öre.
Credit and charge cards (such as American Express, Diners Card, MasterCard and Visa) are widely accepted. Cheques are rarely used in Sweden. Those with currency and travelers cheques can exchange it in banks and post offices.
To open an account, one is required to have a Swedish personal identity number (personnummer) and Swedish identity card. A personnummer is obtained from the local Skatteverket (tax office) and is needed to apply for the Swedish ID card. The card is a primary form of identification in Sweden, which is necessary for using credit cards or collecting packages.
Those without a personnummer can still open a non-resident bank account. Small banks may refuse international clients; however, expats can apply with Sweden's largest banks, namely Handelsbanken, Skandinaviska Enskilda Banken (SEB), Nordea Bank, and Swedbank.
Other requirements that may be required to open a bank account include passports or EU ID cards and employment details. Processing of the bank account can be completed in approximately one week and a debit card (Betalkort) will be received.
Banking hours start from 10am to 3pm, Mondays to Fridays, except Thursdays, wherein banks are open until 6pm.
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