This is how I imagined myself getting a bank account: getting a residence card within one week within arrival go to bank and get bank account within two weeks so probably I have my need one month at most to get a bank account but I should tell you I was dreaming too rosy dream, REALITY IS NEVER LIKE THIS
<How long does it take to make a Swedish bank account?>
I had to postpone making residence card for like 3 weeks after arrival because there was no time left for booking. Everyone was so quick at booking appointment with Swedish migration center. Here’s the tip: you can book an appointment before arriving in Sweden. Please book as early as possible!
After I got my residence card (need a week since it comes as post mail), then I went to the bank and got rejected. They require tax ID. Ughhhhh. After I submitted all the documents they needed, I couldn’t hear from them over one month. I had to email them back and forth to see if they are really processing my document. (They didn’t seem to process it before email, they started asking me about the details of the document after the email). I was desperate since I was running out of cash I brought here! Luckily I found a solution. I’ll describe in further detail later.
From August I started and I got to finally make my bank account in November. Yes so roughly three months needed mostly. As I talked to other students, they were still on the progress(it’s November now).
<Process step>
I have mentioned the process above roughly, I’ll just arrange as two step process.
OK here’s the step number one :make your residence card ID
You need to book a reservation for migration office. if you have a residence card you can skip this procedure
Number two go to bank just with residence card with documents they require, apply for a bank account and wait for their postmail
Through the mail, they will give you the device that makes you login to your bank account on your computer and also credit card if you have ordered it
<Tax ID can slow down the process!>
And remember, don’t make any personal number from tax office. Of course you can make it if you want but I don’t recommend it when it comes to making a bank account. They refused to make the bank account if you have tax ID, but don’t have any physical ID card which you can make by going all the way to Swedish migration center. For students in Lund, it’s all the way to Malmö!). Yes and you have to go through competitive booking also😥
<Can I make bank account without tax ID?>
There’s one bank that allows you to make an account without tax office number, which is Handelsbanken. Nevertheless it won’t shorten the time for the process, actually it prolongs if you don’t have tax ID. It takes about three months also. Plus they really don’t prefer accepting people without tax ID.
<Things to be careful using Swedish bank card>
Making a bank account and using credit card with that account could be a little bustling. App downloads and lots of software installation are needed for the process, so make sure to clear up some memory for your computer! When you purchase, once you enter the pin code 3 times wrong, the card permanently gets blocked and you have to apply for a new card which comes with a mail. Yes, not email, post mail that comes to your home address, have to wait at least three days to get a new card. One time I went to a grocery store and scanned tons of foods, and during purchase my card got blocked..I confused it with a different pin code.. I was so sorry for clerk who had to put it all back(she said it’s fine but I bought from every section of the store😭)and plus I couldn’t have proper dinner cause I had no grocery.
<Here’s why you don’t need any bank account!>
So how did I survive three months? Thankfully there were evolved technology, I just got to use REVOLUT or WISE! Revolut and Wise is phenomenal. They provide an internet-based service allowing users to transfer money, receive payments, and make international transactions. Through their platform, users can send money overseas, receive payments in different currencies, and use their card for purchases abroad. You can transfer money with Wise. You can make your virtual credit card within second. It’s just so easy then you can convert your money into Swedish krona and use it in every store. It is so easy to pay person to person as well.
What’s the difference between Wise and Revolut and what is better? Well, there’s not much of a difference. just slightly different conversion method. For a Revolut they don’t charge a conversion fee (charge extra fee for conversion during weekend though).They do currency exchange with slightly lower conversion rate. On the other hand, Wise charges conversion fee however, they have slightly better conversion rate. But I gotta say there’s not much of a difference in the end. For me I just installed both😆
For added convenience, I recommend obtaining a physical card as well. While traveling, there may be some situations where certain stores only accept physical cards, not virtual ones(nfc). Moreover, in case your phone battery dies, a physical card becomes savior. Additionally, when you require cash, withdrawals from a virtual card is not possible, whereas a physical card is accepted at ATMs.
Here’s the link for both!
(for wise you get a free card!)
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