On Monday, I have already talked about why the Swedish personal identity number can be helpful for your stay in Sweden. If you haven’t read it, you can check it out here. One place, where the personal identity number can be handy as well is when trying to set up a Swedish bank account 💳
Why do I need a Swedish bank account?
When coming to Sweden, I was certain that I won’t need a Swedish bank account as my German bank covered international card payments as well and I didn’t want to do anything else. However, with time passing by, I realized that it can be convenient to have a Swedish bank account. For example, if you take on a part-time job, they will most likely ask you to provide a Swedish bank account number, so it’s always good to have this set, if you’re applying for jobs. It can also be handy, if you need to make regular transfers for your rent, or similar.
Another “nice to have” is that the bank account will give you the opportunity to also use the app Swish. This is not a super necessary thing, however, if you’re out with friends and someone is paying the bill, it is a convenient way to pay this person your share back. If you’re familiar with PayPal, Swish works similar like it 😉
Do I need to have a personal identity number?
No, it’s not mandatory to have a personal identity number to open a bank account. However, from my own experience, it is easier and faster, if you have one. I wanted to open my bank account while still waiting for my personal number to be issued, but the employee in the bank told me, it would be faster to wait for the number first and then open the bank account. This is because they need to verify your identity in another way, when you don’t have the personal identity number. In addition, depending on the bank you choose, there can be limitations in functionalities without a personal number.
Which bank should I choose?
There are different banks in Sweden and you’re free to choose whichever you think fits your needs best. For me, it was very important to be able to access the services in English as well. Maybe you have other priorities or don’t mind if services are in Swedish. It can also differ in terms of how long it takes until your bank account is opened. With some banks, you need to have an appointment for opening a bank account, for others, you can just walk in and get help with your account.
In any case, you should bring the following with you when opening a bank account:
- Valid passport (Your passport must have a valid international standard for Swedish banks to accept it as an ID)
- Your residence permit (if applicable)
- Proof of admission showing the duration of studies
So even if you have to wait until being in Sweden, you can already start thinking about whether a bank account could be relevant for you. And if you have even more time, it doesn’t hurt to already check out the banks websites to get a feeling about their services.
Have a good weekend!