Sweden is almost entirely cashless; bring your debit or credit card. As a result, if you choose to use credit and debit cards, you won't require much hard money for your vacation. However, there are some things to note before you go.
First, the card companies will charge you a fee for each transaction you make from home. These can add up quickly if you're not using any kind of an e-wallet like PayPal or Amazon Payments. So it's best to keep those fees low by only making purchases with what you have on hand. If you need more cash, then withdraw it from an ATM using your bank's website.
Second, there are certain countries where using your debit card as cash is not recommended. For example, France prohibits its citizens from using the cards as cash. The same goes for Italy and Spain. So if you plan on traveling to these countries, you'll need to find another way to pay for items.
Finally, make sure that your card works in Sweden. Some banks block cards that they believe will cause a lot of damage to the economy over time such as terrorist cards or cards used by black market sellers. If yours is one of these cards, find another way to pay.
When you return home, be sure to check your statements for charges from foreign countries.
In Sweden, practically everything can be paid for with a credit card, so you won't need cash in Malmo. In general, you cannot expect to utilize Danish Kroner (DKK) in another nation. There are some exceptions which will be explained further down.
The best way to travel around Sweden is by train, and most cities have good rail connections with other major European cities. The fastest trains run on high-speed lines and cost about 150 SEK ($20) first class, but they're rarely needed because the slower regional trains are enough. Second class costs about 20 percent less.
In Sweden, there is only one main airline, SAS, but it operates only within Sweden and some other Scandinavian countries. Tickets can be expensive, especially during peak periods such as school holidays or Christmas time, so it's recommended to book them in advance.
The official currency of Sweden is the Swedish krona (SEK). It is made up of 100 cedilas and 10 kronor. Both coins and bills are used throughout Sweden. Some places may accept other currencies as well, but don't count on it. You should bring all the money you'll need in any case.
When traveling outside Sweden, most tourists usually have euros, pounds, or US dollars.
Unless your stay in Sweden will be brief, you should create a Swedish bank account. It will save you money on foreign costs and enable you to be paid by a Swedish company. When creating an account, keep in mind that most banks need you to have a Swedish personal identity number. They can be obtained from the National Insurance Board (Social Security Agency).
Sweden has some of the most expensive banking fees in the world. There are also no automatic deposit deductions from a paycheck; instead, you must submit a W-4 form to avoid payments being withheld from your account.
With many Swedes using mobile phones only, it is important to set up a mobile phone with a Swedish number. This will make it easier for people to reach you in an emergency. You can request one at any telephone provider; however, if you plan to travel abroad often ensure that you get a number that does not conflict with anything else already in use.
If you are looking to open a new account or transfer an existing account with another bank, contact those companies directly. There may be ways to save on fees by doing so.
Is there a limit to how much Swedish and foreign cash you may bring into Sweden? No, not at all. However, because Sweden has yet to join the Euro Treaty, you cannot pay in cash with euros (EUR) or any currencies other than SEK. Please keep in mind that earlier versions of the 20, 50, and 1,000-krona banknotes are no longer legal tender.
Sweden uses the euro as its currency. It is called the "euro" even if it's the krone that people talk about. The word "euro" comes from the European Union, since Sweden is part of this union.
Since Sweden has not joined the euro, you can only change money at banks or at currency exchange offices (ofertan). These are usually easy to find in major cities. You can also change some coins at some convenience stores but not all of them. There are two types of shops: those that take cards and those that don't. If a shop doesn't take cards, then they aren't able to give good change for their coins.
At the bank, put your cash in an envelope and hand it in along with the letter "c" on your card. Wait until it is returned before using the ATM again. At first, this could take up to seven days but now most banks should be able to return your cash immediately. Even if yours can't, just write them an email and they will get back to you.