Orebro

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Currency Exchange

Information on converting foreign currency to Swedish Krona (SEK) and vice versa, including bank services and exchange offices.

Sections

1. Currency in Sweden

  • Official Currency: The Swedish Krona (SEK), abbreviated as "kr."
  • Common Denominations:
    • Coins: 1 kr, 2 kr, 5 kr, 10 kr
    • Banknotes: 20 kr, 50 kr, 100 kr, 200 kr, 500 kr, 1,000 kr
  • Exchange Rate: The exchange rate fluctuates daily. Check reliable sources like XE.com or your bank for the latest rates.

2. Where to Exchange Currency in Örebro

While Sweden is largely cashless, there are still options for exchanging foreign currency in Örebro. Here are the main places:

a. Banks

  • Major Banks: SEB, Swedbank, Handelsbanken, Nordea.
  • Services: Most banks in Örebro offer currency exchange services, but you may need to pre-order foreign currency as they don’t always keep large amounts on hand.
  • Locations: Banks are located in central Örebro, such as near Drottninggatan or Våghustorget.
  • Costs: Banks typically charge a small service fee (around 50–100 SEK) for currency exchange, and their exchange rates may include a margin.

b. Forex Exchange Offices

  • Forex Bank: Forex Bank is a popular option for currency exchange in Sweden. They have branches in larger cities, but in Örebro, you may need to use their online services or visit a nearby branch in a larger city like Stockholm.
  • Costs: Forex Bank charges a fee (usually 50–75 SEK) and offers competitive rates compared to banks.
  • Tip: Check their website to see if they offer delivery or pick-up services for Örebro residents.

c. ATMs (Cash Machines)

  • Using ATMs: If you have a foreign debit or credit card, you can withdraw SEK directly from ATMs in Örebro. ATMs are widely available in the city center, shopping malls, and near train stations.
  • Costs: Your home bank may charge a foreign transaction fee (usually 1–3%) and/or an ATM withdrawal fee. The Swedish bank operating the ATM typically does not charge additional fees.
  • Tip: Use ATMs operated by major banks like SEB, Swedbank, or Handelsbanken for reliability.

d. Currency Exchange at Airports

  • If you’re arriving in Sweden via Stockholm Arlanda Airport or Gothenburg Landvetter Airport, you can exchange currency at the airport. However, airport exchange rates are often less favorable, and fees are higher compared to banks or Forex offices.

e. Online Currency Exchange Services

  • Some services, like Revolut or Wise (formerly TransferWise), allow you to exchange currency at near-market rates and use a multi-currency card for spending in SEK. These are excellent options for visitors and new residents.

3. Costs Involved

  • Exchange Rate Margins: Banks and exchange offices typically add a margin to the exchange rate, which can range from 1–3%.
  • Service Fees: Expect a flat fee of 50–100 SEK for in-person exchanges at banks or Forex offices.
  • ATM Fees: Your home bank may charge a foreign transaction fee (1–3%) and/or a withdrawal fee (2–5 USD or equivalent).

4. Procedures to Follow

  • At Banks or Forex Offices:
    1. Bring a valid ID (passport or Swedish ID card).
    2. Inform the teller of the amount and currency you wish to exchange.
    3. Pay in cash or via card (if allowed).
    4. Receive your SEK and a receipt.
  • At ATMs:
    1. Insert your card and select your language.
    2. Choose the withdrawal amount in SEK.
    3. Confirm the transaction and collect your cash.
    4. Keep the receipt for your records.

5. Local Considerations and Tips

a. Sweden’s Cashless Society

  • Sweden is one of the most cashless countries in the world. Most transactions in Örebro, from public transport to restaurants and shops, are done via card or mobile payment apps like Swish.
  • Tip: Carry a small amount of cash (around 200–500 SEK) for emergencies or places that don’t accept cards (e.g., some small businesses or outdoor markets).

b. Credit and Debit Cards

  • Visa and Mastercard are widely accepted. American Express and Diners Club are less common.
  • Tip: Notify your bank before traveling to Sweden to avoid your card being blocked for suspicious activity.

c. Avoid Dynamic Currency Conversion (DCC)

  • When paying by card, you may be offered the option to pay in your home currency instead of SEK. Always choose SEK to avoid unfavorable exchange rates.

d. Check Exchange Rates in Advance

  • Use apps or websites like XE.com, OANDA, or your bank’s app to check the current exchange rate before exchanging money.

e. Avoid Airport Exchanges

  • Exchange only a small amount at the airport if necessary, as rates and fees are higher.

f. Use Mobile Payment Apps

  • If you’re staying in Sweden for an extended period, consider setting up Swish, a popular mobile payment app linked to Swedish bank accounts.

6. Emergency Currency Exchange

If you urgently need to exchange currency outside of regular banking hours:

  • Use ATMs, which are available 24/7.
  • Some convenience stores (like Pressbyrån) may allow you to withdraw cash with a card purchase.

7. Currency Exchange for Long-Term Residents

If you’re moving to Örebro:

  • Open a Swedish bank account as soon as possible. This will allow you to receive payments, pay bills, and use Swish.
  • Banks like SEB, Swedbank, and Handelsbanken have English-speaking staff and services for new residents.
  • You’ll need a Swedish personal number (personnummer) to open a bank account.

8. Useful Phrases in Swedish

  • "Kan jag växla pengar här?" – Can I exchange money here?
  • "Vad är växlingskursen?" – What is the exchange rate?
  • "Finns det några avgifter?" – Are there any fees?
  • "Kan jag betala med kort?" – Can I pay by card?

By following this guide, you’ll be well-prepared to handle currency exchange in Örebro, Sweden. If you have any further questions or need additional assistance, feel free to ask!