Currency, credit cards and cash in Sweden

What is the official currency of Sweden?

The Swedish krona (SEK), meaning "crown" in English, has been Sweden's official currency since 1873. Banknotes are available in denominations of 20, 50, 100, 200, 500, and 1,000 kronor, while coins come in 1, 2, 5, and 10 kronor. Here you can see valid banknotes and valid coins.

Can I use euros or other foreign currencies in Sweden?

While Sweden is a member of the European Union, it has not adopted the euro. Consequently, euros and other foreign currencies are generally not accepted in cash transactions. It's advisable to use Swedish kronor for all purchases.

How prevalent are cashless payments in Sweden?

Sweden leads the world in cashless transactions. Many establishments prefer or exclusively accept card or mobile payments, including shops, restaurants, and museums. Major credit cards, such as Visa and Mastercard, are widely accepted. However, some places might not accept American Express, so carrying an alternative card is prudent. Ensure your card has a chip and PIN, as magnetic-stripe cards are often unsupported.

Is it necessary to carry cash in Sweden?

Given the country's cashless trend, carrying large amounts of cash isn't necessary. However, if you prefer to have a small amount on hand, ATMs, known locally as "Bankomat" or "Uttagsautomat," are readily available in cities and towns. You can withdraw cash using international cards, though fees may apply depending on your bank's terms.

You can also visit a currency exchange office like Forex, Tavex, Change Group or Ria. On their websites, you can check and compare exchange rates for major currencies such as the US dollar (USD), euro (EUR), or British pound (GBP) to the Swedish krona (SEK).

What mobile payment options are available in Sweden?

Swish is a popular mobile payment app in Sweden that allows instant transfers between users. However, Swish requires a Swedish bank account and a personal identity number, making it inaccessible for most tourists. Visitors should rely on credit or debit cards for transactions.

Are there any restrictions on bringing currency into Sweden?

There are no limits on the amount of Swedish or foreign currency you can bring into Sweden. However, if you're entering or leaving the European Union (EU) and carrying €10,000 or more (or its equivalent in other currencies), you are required to declare this amount to customs authorities. In Sweden, this declaration can be made to Swedish Customs (Tullverket) either online or by using a specific form upon arrival.

What should I know about outdated banknotes and coins?

Older versions of the 20, 50, and 1,000-kronor banknotes are no longer valid, and most older coins became invalid in 2017. If you possess outdated Swedish currency, Riksbanken offers a redemption service for invalid banknotes, with a fee of 200 SEK per application.

In summary, while Sweden's cashless society offers great convenience, travellers should ensure their credit or debit cards are compatible with Swedish payment systems and be aware of any associated fees. By understanding the local currency and payment methods, visitors can enjoy a smooth and seamless experience in Sweden.