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How to send money to Sweden using a money transfer service or foreign exchange broker to a Swedish bank account.

Send Money To Sweden

Transferring Money to Sweden

When transferring money to Sweden either to relocate or pay for a visa there are several ways to help your chances of getting a Swedish kroner (SEK) exchange rate, improved service and guarantee you send money to Sweden safely.

Ways to Send Money to Sweden

  • Debit Card – when paying for items on Swedish websites or via an E-tailer, you might be offered the ability to pay using an overseas debit card, its highly unlikely to be offered competitive foreign exchange rate when sending money to Sweden or paying for things on a foreign debit card. You are likely to be charged an admin fee from your bank to process the payment and processing fee from the retailer’s bank. Those needing to send money to Sweden to invest in a property or pay a legal bill might be compelled to transfer money to Sweden, meaning they will need transfer Kroner via their bank or ideally a foreign exchange broker. Many foreign exchange brokers accept debit cards as payment, leaving you to enjoy the convenience, avoid being charged a transfer fee, and benefit from a better Swedish Kroner rate.
  • Bank transfer – Many will choose to transfer money directly to Sweden from their international bank account. Typically the foreign exchange rate to transfer money to Sweden won’t be as competitive as the one the foreign exchange broker will offer and you might have to drop by your bank to transfer a significant amount to Sweden. When sending money to Sweden via an overseas bank you will have to pay a transfer fee or charge equating to £10-30 or foreign currency equivalent.
  • Credit Card – Ideal for renting accommodation before you arrive in Sweden, credit cards offer recourse and potential reimbursement from your card provider if all isn’t as it seems. Credit cards offer uncompetitive exchange rates and will charge but this can be offset by air miles or points earned where transferring
  • Swift /SEPA– Swift payments are relevant to money transfers outside to or from outside the EU. Within the EU SEPA payments are applicable when transferring money to Sweden from Europe. Meaning kroner transfers are faster and cheaper when being sent to Sweden

Required Bank Details to Transfer Money

Identification – when you send out money using a banking establishment you will require 1-2 kinds of photo ID and will need to have your bank card nearby. Transfers to Sweden normally will have to be made in your local branch. If you have the option to send money to Sweden using your online current account, you might need your debit card reader to hand as well as relevant bank logins, etc to access the account.

When choosing to use a Foreign exchange broker, your papers will all have been kept when you opened up the account, your currency account manager will ask you a few very easy questions to confirm the account over the phone. Their online platforms are similar to those of retail banks just with much better online currency exchange rates prices.

IBAN – A Swedish IBAN will start with SE and be complied with by 22 additional characters. You’ll additionally need the name of the individual or Swedish company you are sending the cash to complete a transfer to their bank account.

Time taken to send money to Sweden

  • Typical time – for a currency broker to obtain your international money, convert to Swedish Kroner, as well as send your money transfer to a Swedish account or beneficiary you should allow between 1-2 working days. Sometimes the beneficiary bank may take some time to appoint funds moved from abroad. If making use of a retail bank to transfer funds you should enable 1-2 days a lot more as there processing is normally slower.
  • Same-day transfer – if funds are in your foreign exchange transfer account you have a good chance of transferring your SEK money to Sweden, and the kroner arriving the same day. A currency exchange broker will usually quote 1-2 days as it could take the recipient bank account 1 day or more to allot funds. Financial institutions will take much longer, usually 2-4 working days.

Cost to Transfer Money to Sweden

  • Commission –Foreign exchange commission taken by worldwide banks varies from one organization to another. Nonetheless, one shared similarity is they remain uncompetitive when compared to foreign exchange brokers. A Foreign exchange broker will normally be able to save their clients between 1-4% when sending money to Sweden.
  • Transfer Fees – An overseas financial institution will commonly charge anywhere between ₤ 10 -₤ 40, or local currency equivalent to move your money to Sweden. The majority of forex brokers do not charge fees. None featured on Foreign Exchange Live do.
  • Exchange Rate – A bank will function using a ‘daily FX rate’ which will be established when the branch opens. To mitigate any type of money market variations in SEK a margin or spread will be included to cover any type of daytime kroner volatility. Foreign exchange providers and brokers, contrarily, work from live SEK exchange rates allowing you to take advantage of favourable trends as well as obtain support if the price fluctuates against you.

Fees for Receive Money in Sweden

Sweden belongs to the SEPA payments service, if you are sending cash from Europe you are unlikely to be charged an intermediary fee. If money is however removed, this will have been taken by your Swedish bank account, you can normally address this with them directly, it is nonetheless highly unusual.

Limits on Money Transfers to Sweden

You shouldn’t be limited on just how much you can move to Sweden providing you or business can legitimise the transfer. If your foreign exchange broker is happy to make the transfer, there is no written constraint on how much you can trade.

Normally if a transfer goes beyond ₤ 500,000+ or currency equivalent your foreign currency broker can request a duplicate of a bank statement to prove your ability to fulfil any currency contract, they may also request paperwork to prove the reason for the transfer (e.g Swedish company acquisition).

Transfer a Deposit to Open a Swedish Bank Account

An overseas bank or foreign exchange broker will assist with transferring funds to a new Swedish account. Simply ensure any required documentation and your Swedish account info is to hand, your bank or broker can then assist with your bank down payment transfer to Sweden.

Swedish banks will expect you to credit your account promptly, there is however no minimum deposit once the account is opened you will, however, be billed roughly 250 SEK per year to preserve the account. This yearly fee normally depends upon the account and also the bank you choose.

Safely Send Money to Sweden

When taking transferring money to Sweden you are right to be sensible and study the safest options. Fortunately, foreign exchange brokers, as well as money transfer businesses, are exceptionally mindful of transfer fraud. In addition to being diligent on your behalf, they will cross-check doubtful beneficiaries through their systems and flag any kind of suspect transfers.

  • FCA – Always verify your foreign exchange broker is financial conduct authority (FCA) authorized. A forex broker should never be reluctant to share their FCA number or send a web link to its reference on the FCA’s register. They should also publicise details of their regulation on their website.
  • Guarantees – Whilst no trusted foreign exchange broker will have the capacity to provide guarantees, their accounts have to be held with tier 1 institutions. All customer funds moved to these ringfenced accounts need to be distinguished from their resources, if something was to take place to the international money broker this allows you to retrieve the funds directly from the tier 1 bank.
  • Protection – Trustworthy foreign exchange businesses follow rigorous anti-money laundering protocol to ensure they are only taking care of legitimate customers and businesses. This is continued when they exchange and transfer funds to Sweden, Currency exchange brokers may ask for extra information on transfers whose recipients look dubious. Currency broker’s currency trading systems are electronically secured also, they use high degrees of on internet safety to prevent the possibility of their information being corrupted.
  • Fraud – Despite these precautions, fraudulent scams can take place within the international payments sector. You can, however, take some simple measures to substantially minimise your possibilities of coming to be a victim. Never send your safety and security login over e-mail or be pressurised to make a global transfer by a foreign exchange broker. Make certain communication with your broker is from an appropriate company e-mail address. If you contacted by an unknown member of the team or new currency account supervisor agree to call them back to ensure they are an employee of the currency exchange broker you are a client of.

Reasons to send money to Sweden

  • Bills – Your Swedish rental home or company will have recurring expenses. These could consist of property tax, renovation costs, or energy bills. A forex broker will be happy to set up repayments to cover your Swedish account and handle these ongoing money transfers.
  • Loans – If you have been lent cash from a relative in Sweden you might want clear the debt if SEK rates are in your favour. Besides, if the Kroner rate remains in your favour you might consider sending money to Sweden to settle part of your home mortgage.
  • Family – Birthday celebrations and various other seasonal vacations are constantly just around the corner. Your foreign exchange broker can be utilised to send monetary presents to members of the family in Sweden
  • Property – When the SEK currency exchange rate switches to your benefit, you could think about capitalising and making property improvements.
  • Inheritance – Unfortunately many encounter loved ones dying overseas. You might at some stage require to transfer inheritance proceeds back to Sweden. A broker can sensitively handle the procedure.
  • Car – If relocating to Sweden you may desire to lease or purchase a car to commute or travel around the countryside
  • Holiday –If leasing an apartment or condo for a holiday your foreign exchange broker will supply a better rate than your financial institution or bank card.
  • International wholesalers – When acquiring overseas items or stock you can enlist the services of a foreign exchange broker to take care of FX risks associated with buying items from dealers that

Foreign Exchange Brokers

Considering the services of a credible foreign exchange broker is the best way of guaranteeing to save money when sending money abroad. Savings between 1-4% are feasible which will be significant on regular transfers and Swedish property purchase money transfers. They can also provide you with several solutions to maximise the amount of currency you receive in Sweden.

Finding a reputable Foreign Exchange Broker

Clients can compare the offerings of transfer services and foreign exchange brokers in many ways when they need to transfer money to Sweden.

  • Regulation – always ensure the foreign exchange broker you use is regulated, in Sweden, for example, brokers must be authorised by the FCA (financial conduct authority)
  • Length of time in business – typically indicating knowledge of the market, number of clients they’ve helped, stability in the market. They are most likely to have helped many other clients transfer money to Sweden and dealt with many different scenarios.
  • Transfer fee or no transfer fee – especially worth considering when the payments being transferred to Sweden are small. A transfer fee can typically outweigh the advantages of sending the money to Sweden via a bank or broker even if the rate offered is competitive. All brokers promoted on Foreign Exchange Live work on a fee-free basis.
  • Online transfer, telephone transfers or both – online Apps are great for small transfers to Sweden. Recourse can be slow if the money goes astray. Customer service when dealing solely online can vary. Much of this service is via a chat/text box or email. An established foreign exchange broker will operate both an online and telephone dealing service. Meaning you speak directly to an account manager who will be assisted by a back-office team or customer service division.

Find The Right Broker To Transfer Money To Canada

Specialists such as Moneycorp and Rational FX have vast experience in advising and assisting clients all over the globe and saving them thousands of pounds in the process.

  • Customer Service – Banks are cumbersome and hard to contact from overseas. Transfer apps can be convenient for smaller payments, but don’t offer prompt customer support if an issue arises. Foreign exchange brokers offer a consistent service. All clients receive a personal account manager with a direct email address and phone number to enable easy contact and customer service if required.
  • Safety And Security – All top foreign exchange brokers will hold client funds in segregated accounts. All transactions are conducted following the FCA regulations and guidelines, we strongly advise to check with your broker on the exact details.
  • No Expensive Fees Or Charges – Depending on the bank, for each transaction, it could cost anywhere from £10 to £4o or local currency equivalent. A foreign exchange broker will process your transfer to Sweden with no transfer fees and narrow margin (or spread).
  • Better Exchange Rates – A bank will, as a rule, be making a spread of between 2-6% whereas the rates on offer from leading providers will be around 1%. Once your trade is executed, you will be provided with a deal notification showing clearly the base currency amount and the number of Euros purchased.

Foreign Exchange Contracts

A foreign exchange broker offers several supplementary services not available in banks or on many money transfer apps. These include:

  • Spot contracts – Arranging a transfer and agreeing on a rate and sending the money to Sweden shortly after
  • Forward contracts – fix today’s exchange rate for payment up to 2 years in the future. guaranteeing the cost of your purchase and avoiding foreign exchange volatility.
  • Stop-loss – If your currency pair is trending lower a stop-loss protects your currency from depreciating too much, the currency is traded automatically when it hits the agreed level
  • Firm order – target a rate superior to the current foreign exchange market rate. Once the desired exchange rate is reached, the currency is purchased automatically day or night.
  • Option contract – as with the forward contract but also having the ability to opt for a superior rate is the market rate improves. Typically for businesses rather than private clients.
  • Regular international transfers – A payment plan to send money overseas regularly

Documents needed for a foreign exchange broker account

The application to open your foreign exchange account can be completed within minutes. The first step is to apply online giving personal details and a brief overview of transfer needs. Once complete you will typically need to supply the following to get your account approved

  • A valid form of photo ID
  • Recent utility bill or address proof (less than 3 months old)

List of Foreign Exchange Brokers

  • Boutique brokerages such and Newbridge FX offer tailored services to cater to their clients’ needs and work tirelessly to limit their clients’ FX risk.
  • Midsize brokerages such as Rational FX operate both corporate and private client operations with a focus being on key markets such as France and Spain.
  • Large multi Geographic operations such as Moneycorp operate in multiple jurisdictions and have many local offices to best serve their global clientele.

Banks in Sweden

Leading Swedish banks for ex-pats and foreigners include

  • SEB
  • Nordea
  • Handelsbanken
  • Danske Bank
  • Swedbank

If you require a general bank account in Sweden. SEB is probably to be the most prominent among foreigners, as it has the fastest authorisation times, however, there are other points you need to consider when selecting which bank to use in Sweden. The majority of banks will supply very similar solutions, consisting of online banking, telephone banking and contactless payment.

Some Swedish banks will charge a monthly fee for possessing an account with them, a few examples include Nordea and SEB. Handelsbanken has a one-off repayment of 300SEK for access to a Maestro debit card. Danske Financial institution provides free services to international students, including travel insurance. It is best to visit a branch as well as consult with personnel bank advisor regarding what you would like from a bank account as well as exactly how their solutions can fit your needs, most of the details are promoted online.

Opening a bank account in Sweden

Foreigners will find that establishing a bank account can be longwinded, but the process is clear and well laid out. Much like the country, the application is orderly and clear. Delays are typically encountered if the applicant hasn’t laid their hands on a personnummer or Swedish tax number. EU/EEA members have the right to a Swedish tax number, those outside of the EEA/EU will have to apply.

The application can be made at the Swedish tax office in person and applicants will have to register on the Swedish population register.

Documents needed to apply for a Swedish bank account

  • Valid passport
  • Passport
  • Swedish visa or resident permit
  • Swedish employment contract
  • Swedish ID card

Occasionally banks will differ in their application criteria some other supporting paperwork might be requested.

Swedish bank details

The regular structure for an IBAN for Sweden contains 24 digits. Below you will find a thorough break down of the IBAN structure in Sweden.

SE 45 500 00000058399256674

  • Country(2 Digits) -SE
  • IBAN validation number – 45
  • Bank Code -500
  • Account Number – 00000058399256674

Relocating to Sweden

When relocating to Sweden you’ll need to consider your options when you come to send money to Sweden. A foreign exchange broker can be a valuable asset when it comes to transfer money to Sweden.

Sweden has become a hub for expats seeking a great work life balance. Stockholm amongst the most popular locations for expatriates, made up of 24,000 islands, expats enjoy the picturesque setting if not the sizzling hot weather.

Sweden boasts a healthy job market with opportunities for well qualified English-speaking expatriates readily available. A real focus is given to I.T and Media sectors meaning that jobs are often filled by well qualified candidates.

Lack of Swedish need not get in the way

Whilst we believe every expat should leave home with the ambition of learning the language of their new country. The inability to speak Swedish needn’t hold you back as the vast majority of locals will speak English. Whereas other country’s might insist on newbies at least attempting to speak the local dialect the Swedes are much more forgiving and enjoy practicing their English.

Golf in Sweden

Largely unknown, golf is a sport which thrives and is often pursued by expats in Sweden. Its landscape perfectly suited to the creation of courses all over Sweden. Clubs can be found both inland and on the coast. Boasting 480 courses and 460,000 members the sport is booming.

What life is like in Sweden

The country is known for its order and discipline and this extends to the public transport, seldom will you find a delayed train or bus and a cancelled service is as common as hens’ teeth. This is only ever thrown into jeopardy by extreme weather.

Working is a lot less challenging than other locations. Swedish companies gear their companies to the needs of their workers and enjoyment. Friday lunchtime typically marks the end of the week and offices are normally deserted after 5,10pm.

Swedes are less concerned about status and hierarchy and approaching a CEO isn’t frowned upon in the same ways as it is in other areas. People by and large are more accessible and happier to assist or add value in some way.

The weather can be dire and rarely surpasses 25c even in the height of summer. Rainfall averages 24inches each year with the most being experienced in late summer. Sweden experiences considerable snowfall which can lay on the ground for up to 6 months in the north.

Whilst jobs typically are well paid when compared to many countries in Europe taxes are also higher. However, the payoff is great schools, healthcare and state benefits.

Top tips when you decide to move to Sweden

When relocating to Sweden you will be faced with a handful of tasks and objectives in order to ensure your relocation runs smoothly. Here are just a few things worth considering.

  • Visas – those outside the EEA/ EU will have the ability to work and reside in Sweden. People who are moving from other areas of the globe will need a solid job offer before relocating. Visa’s can differ and are subject to whether the job offered is skilled or unskilled, a visa must be updated until residency is granted.
  • Housing – finding good accommodation can be a challenge in Sweden. Properties can be let and then sublet. It’s worth familiarising yourself with these direct rentals and sub-let properties. Sub-let properties are normally rented for a year and then the original renter must enter before of the end of the original lease. If you have a defined work contract under a year this can be an excellent choice, if however, you plan on standing longer than 12 months if potentially preferable to ensure you are the main renter. Buying a home in Sweden is fairly straightforward and foreigners face no issues in buying a home in Sweden.
  • Education – the educational system in Sweden is very good but many expats will opt to send their children to international schools. The cost of private education in Sweden is heavily patrolled and a term will typically cost between SEK 30,000 – 100,000. Private and international school pricing will vary subject on your child’s age, school’s location and reputation. A foreign exchange broker can help you transfer money to Sweden to cover smaller payments such as school fees.
  • Speak with a foreign exchange broker – Exchange rates can be extremely volatile and if you are considering relocating, we advise on speaking with a foreign exchange broker in order to send money to Sweden. Companies such as Rational FX, Moneycorp and Newbridge FX will keep you abreast of market movements and provide you with a series of solutions. Whether you are looking to transfer money to Sweden on a regular basis or managing international business transfers they will be more than able to assist.

Opening a Bank Account in Sweden

Foreigners will find that establishing a bank account can be longwinded, but the process is clear and well laid out. Much like the country the application is orderly and clear. Delays are typically encountered if the applicant hasn’t laid their hands on a personnummer or Swedish tax number. EU/EEA members have the right to a Swedish tax number, those outside of the EEA/EU will have to apply.

Application can be made at the Swedish tax office in person and applicants will have to register on the Swedish population register.

Documents needed to apply for a Swedish bank account

  • Valid passport
  • passport
  • Swedish visa or resident permit
  • Swedish employment contract
  • Swedish ID card

Occasionally banks will differ in their application criteria some other supporting paperwork might be requested. Once your account is active you can look at ways to send money to Sweden and start your life overseas.

Best ways to send money to Sweden?

The best payment method when sending money to Sweden will depend on your scenario. If you are sending money to top up the same bank account in Sweden, a transfer app or foreign exchange broker platform could be ideal. Their online trading solutions will allow you to send regular small amounts at your convenience, achieve a  competitive exchange rate and transfer your money to Sweden quickly. If however you are looking at a more significant longer term transfer, the consultancy offered by a foreign exchange broker can be invaluable. Foreign exchange brokers can keep you up to speed with significant exchange rate changes and provide a number of currency exchange solutions to maximise your money transfer to Sweden. They are also up to speed with critical financial data which could impact your exchange rate. Foreign exchange brokers offer even more advanced solutions for businesses who regularly send money to Sweden and need to mitigate risk and protect their bottom lines.

What bank details are needed to transfer money to Sweden?

If you have already set up an account with a money transfer application or foreign exchange broker you will only require your Sweden beneficiary details of your bank account or the person or company you are transferring money to. If you haven’t as yet opened an account with a foreign exchange broker or transfer app to send money to Sweden, don’t worry, the process should only take 5-10 minutes and once approved will allow you to transfer money to Sweden immediately. In many cases you will require little or no paperwork to get you foreign exchange broker account set up. If you do however require paperwork, the foreign exchange broker will typically request the following: 1 – Valid passport or photo Identification (drivers license or ID card are typically accepted). 2 – Recent utility bill or bank statement (must be at most 3 months old). Larger money transfers of £500,000 or more may require supporting documentation e.g property purchase contract or commercial invoice. Once the account is set up you will then just need the IBAN number or swift code to transfer money to Sweden.

How long does a money transfer take to Sweden?

The time taken for your foreign exchange to process, convert funds and funds to clear in an international bank account will depend on whether you use a bank or a specialist foreign exchange broker. A broker will typically be able to complete the process in a maximum of 2 days. If however you have already credited your foreign exchange account, funds can clear in Sweden on the same day. If for some reason your funds are delayed, a foreign exchange broker can create a trace and provide a document to prove when funds left the brokerage. You can then forward this on to the beneficiary bank to locate funds if they’re unable to. If you decide to transfer your money to Sweden via your bank rather than a foreign exchange broker or money transfer app, expect the transfer to take a while longer, sometimes up to 4 working days.

What are the cost of transferring money to Sweden?

The money transfer cost or fee when sending money to Sweden will vary from bank to bank or foreign exchange broker to another. Banks will typically charge between £10 to 30 to transfer money to Sweden, however transfers within the EU using the SEPA system should not incur a reception fee. Those outside of Europe could be liable, however many foreign exchange brokers will kindly absorb the charge. The vast majority of foreign exchange brokers wont charge a money transfer fee and generate their profit between the buy and sell rate.  The foreign exchange brokers featured on this site don’t charge a fee to transfer money to Sweden. If you are charged a reception fee by your Sweden bank, you should quiz why a charge has been taken. The SEPA payments system should ensure that reception fees are avoided.

Foreign Exchange Brokers


Handling over $10 Billion of FX on behalf of its clients Rational FX is one of Europes leading foreign exchange brokers.


Its global presence allows Moneycorp to service clients all over the world with comprehensive FX solutions benefitting businesses and individuals.


Located in London City Newbridge FX posses a skilled team to best manage your personal and business FX exposure mitigating currency risk.

Frequently Asked Questions

The best payment method when sending money to Sweden will depend on your scenario. If you are sending money to top up the same bank account in France, a transfer app or foreign exchange broker platform could be ideal. Their online trading solutions will allow you to send regular small amounts at your convenience, achieve a competitive exchange rate and transfer your money to Sweden quickly. If however you are looking at a more significant longer term transfer, the consultancy offered by a foreign exchange broker can be invaluable. Foreign exchange brokers can keep you up to speed with significant exchange rate changes and provide a number of currency exchange solutions to maximise your money transfer to Sweden. They are also up to speed with critical financial data which could impact your exchange rate. Foreign exchange brokers offer even more advanced solutions for businesses who regularly send money to Sweden and need to mitigate risk and protect their bottom lines.
If you have already set up an account with a money transfer application or foreign exchange broker you will only require your Sweden beneficiary details of your bank account or the person or company you are transferring money to. If you haven’t as yet opened an account with a foreign exchange broker or transfer app to send money to Sweden, don’t worry, the process should only take 5-10 minutes and once approved will allow you to transfer money to Sweden immediately. In many cases you will require little or no paperwork to get you foreign exchange broker account set up. If you do however require paperwork, the foreign exchange broker will typically request the following: 1 - Valid passport or photo Identification (drivers license or ID card are typically accepted). 2 - Recent utility bill or bank statement (must be at most 3 months old). Larger money transfers of £500,000 or more may require supporting documentation e.g property purchase contract or commercial invoice. Once the account is set up you will then just need the IBAN number or swift code to transfer money to Sweden.
The time taken for your foreign exchange to process, convert funds and funds to clear in an international bank account will depend on whether you use a bank or a specialist foreign exchange broker. A broker will typically be able to complete the process in a maximum of 2 days. If however you have already credited your foreign exchange account, funds can clear in Sweden on the same day. If for some reason your funds are delayed, a foreign exchange broker can create a trace and provide a document to prove when funds left the brokerage. You can then forward this on to the beneficiary bank to locate funds if they’re unable to. If you decide to transfer your money to Sweden via your bank rather than a foreign exchange broker or money transfer app, expect the transfer to take a while longer, sometimes up to 4 working days.
The money transfer cost or fee when sending money to Sweden will vary from bank to bank or foreign exchange broker to another. Banks will typically charge between £10 to 30 to transfer money to Sweden, however transfers within the EU using the SEPA system should not incur a reception fee. Those outside of Europe could be liable, however many foreign exchange brokers will kindly absorb the charge. The vast majority of foreign exchange brokers wont charge a money transfer fee and generate their profit between the buy and sell rate. The foreign exchange brokers featured on this site don’t charge a fee to transfer money to Sweden. If you are charged a reception fee by your Sweden bank, you should quiz why a charge has been taken. The SEPA payments system should ensure that reception fees are avoided.

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