Local Curency in Sweden

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Money and Curency in Sweden

The national currency is the Swedish krona (SEK, plural kronor), distinct from other currencies, such as the Norwegian or Danish krona. Automatic teller machines take major credit cards. Most stores, restaurants and bars accept all major credit cards. You usually need an ID card or a passport when shopping with a credit card, regardless of the amount involved, though usually not in supermarkets and such where PIN code is king.

It is not common to bargain in shops but it might work in some instances, especially when buying more expensive products. Bargaining is also okay at flea markets and in antique shops. Tipping is not mandatory when dining out. You can tip 5-10%, or round the bill up if you've had a nice experience.

Most shops, at least major chains in downtown areas, are open all week, even on Sundays. Closing times are rigid, most often on the minute.

Many Swedes translate the word krona, which means crown. For example, instead of saying 50 kronor they might say 50 crowns when speaking English.

Currency Conversion Table (April 2011)

Foreign currency Either one Swedish Kronor
€0.11 Euro 1 8.55
£0.10 Pound Sterling 1 9.63
$0.16 US Dollar 1 5.68
$0.18 Australian Dollar 1 6.35

ATM

The most used Swedish word for ATM is Bankomat, although this is technically a trademark of the Trade Bank Consortium, much like the termcash point in the United Kingdom, and therefore not used by several banks. A more generic word would be Uttagsautomat; Uttag, Minuten and Kontanten may also occur. Nearly all machines regardless of operator will accept the MasterCard, Maestro, Visa, Visa Electron and American Express. You can withdraw up to 10 000 SEK ($1420/€1110) per use. During a seven-day period you can withdraw a maximum of 20 000 SEK ($2840/€2220).

You have three attempts to enter the correct PIN code. If you fail a third time, the machine retains the card and closing it. In order to facilitate the visually impaired have the keys on the machines equipped with Braille. You may have spoken guidance, press the TALK button. In some ATMs you can withdraw euros if you have a card issued by a Swedish bank. You may take up the maximum 1000 EUR per use. You can make multiple withdrawals after the other but a maximum 20 000 SEK per week.

Costs

Compared to other OCED countries, Sweden is one of the more expensive countries to inhabit, though you can find cheaper alternatives if you look around. For example: Sundries like a 33 cl bottle of Coca Cola costs 10 SEK ($1.70/€1,2), a beer in a bar will cost you around 45-70 SEK ($7-10/€5-8), the average price of hotel accommodation is around 1300 SEK ($215/€155), a room in a hostel varies between 150 and 350 SEK ($30-50/€25-35), a bus/subway ticket in Stockholm, Gothenburg and Malmö will set you back around 25 SEK ($4.20/€3,1), one meal will cost you around 100 SEK ($16,5/€11,9), 1 litre of petrol fuel costs about 15 SEK ($2.50/€1,8) and a pack of 25 cigarettes will cost you 70 SEK ($11.60/€8,3). If you are a bit careful about your expenses, a daily budget of around 1000 SEK ($156/€112) will be enough. While house prices outside metropolitan areas are probably among the lowest in Western Europe. and recently opened discount stores such as "Lidl", "Netto" and "Willys" offer a wide range of items (why not buy a sewing machine while doing the weekend grocery shopping?), accommodation and dining out are cheaper in Stockholm than in most other west European capitals.

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