Sweden Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in sweden, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Trade Financing
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Methods of Payment

The Swedish payment and banking systems are highly automated and advanced.  The most common method of international payment is transferred via electronic funds/bank transfer.  Common trade finance methods include document collection, letters of credit, and bank/payment guarantees.  Common terms of sale are payment within 30-90 days after delivery. Please read the Trade Finance Guide for more information about payment methods or other trade finance options.

A U.S. exporter looking to recover debts should contact the Association of Swedish Debt Collectors for information regarding and contact with debt collecting agencies.

Sweden has a low level of cash in circulation, and the trend is towards more digital payment methods. According to statistics from Finance Sweden, in 2023 (latest available data), 60% of payment transactions were made by bank- and credit cards.  Major credit cards such as VISA and MasterCard are accepted throughout Sweden.  Diner’s Club and American Express may be less acceptable due to the high service charges associated with them.  Mobile payments/banking, contactless technology, instant payments (such as the Nordic banks’ solution Swish) and other digital payment solutions continue to increase in popularity. 

Banking Systems

The Swedish market is made up of four main categories of banks: Swedish commercial banks, foreign banks, savings banks, and co-operative banks.  All bank types are entitled to operate in all areas of banking.  While Sweden is not part of the Eurozone, Swedish commercial banks offer euro-denominated accounts and payment services. 
 
In 2022 there were a total of 36 foreign bank branches represented in Sweden, the largest being Nordea, which moved its headquarters from Sweden to Finland in October 2018.  While Sweden is not part of the Eurozone, Swedish commercial banks offer euro-denominated accounts and payment services.
 
The Swedish Financial Supervisory Authority (Finansinspektionen) monitors the financial market, among other things.  Banks and financial institutions established in Sweden are represented by Finance Sweden. 

At the end of 2024, statistics published by Finance Sweden show a total of 126 banks, of which 37 were foreign bank branches.  The three largest Swedish banks are: Swedbank, Svenska Handelsbanken, and Skandinaviska Enskilda Banken (SEB). The largest foreign bank branches in Sweden are Nordea (largest bank in Sweden), which moved its headquarters from Sweden to Finland in October 2018, and Danske Bank, the 5th largest bank in Sweden.  
Information in English about the Swedish financial sector can be found the websites of both the Swedish Financial Supervisory Authority and Finance Sweden.

In 2014, Sweden entered the Foreign Account Tax Compliance Act (FATCA) agreement with the U.S. For clients identified as “U.S. persons”, Swedish banks are obliged to provide information to the Swedish Tax Agency, who in turn provide the information to the IRS.
 

Foreign Exchange Controls

Foreign exchange controls are not levied in Sweden. Commercial transactions are, in general, not subject to any restrictions.  There are, however, reporting/declaration requirements when remitting or borrowing funds internationally.

U.S. Banks and Local Correspondent Banks

There are numerous U.S. bank branches in Sweden, the majority of them providing corporate services.  These include Bank of America, Citibank Europe, Goldman Sachs Bank Europe, and JP Morgan.

All large Swedish banks have corresponding U.S. banking arrangements. Many Swedish banks also have subsidiaries or branch offices in the United States.

The Export-Import Bank of the United States  (EXIM) currently has a bilateral/co-financing agreement with Sweden’s EKN (Exportkreditnämnden).

For additional information, visit the U.S. Department of State Investment Climate Statement.

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

Privacy

The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

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