Make sure you organise different ways to access your money in your home country before you arrive in Sweden. This can be in the form of credit and debit cards, cash or travellers’ cheques.
Credit or debit cards are the most common form of payment in Sweden, with four out of five purchases now being made electronically or via card. This trend has led to Sweden aiming to become a completely cashless economy in the near future.
With this in mind, it is definitely worth checking with your bank at home whether using your card abroad is the most cost-effective way to make purchases. Also note that in Sweden only Chip & PIN cards can make payments or withdraw cash.
Cheques in Sweden are very rare. If you need to receive money from abroad, use a bank transfer. Swedish banks usually charge a hefty fee on deposited foreign cheques and it may take some time before you have cleared funds available.
On the other hand, travellers’ cheques are widely accepted. You can exchange travellers’ cheques in Swedish banks, bureau de changes and most post offices. Some larger shops will also accept travellers’ cheques as a method of payment. Preference is given to cheques issued in Euros, sterling and US dollars.