Changing a bank in Sweden
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Last updated/verified: February 2026
It's common for newcomers to Sweden to struggle with opening their first bank account, but after the dust has settled and you have your BankID, it makes quite some sense to evaluate your options. Even Swedes are too loyal to their banks for their own good, according to the consumer rights organizations and Finansinspektionen, a government authority that monitors the financial market. Luckily, the legislation makes it pretty easy to hop around and potentially save thousands of SEK per year.