In this article, you'll discover whether Revolut works in Sweden, explore some drawbacks if it is available, and consider the possibilities it offers. Stay tuned to find out more.
Does Revolut Work In Sweden?
Revolut is not available in Sweden. According to user experiences and information from Revolut's customer service, the service does not accept Swedish banks as beneficiaries or their bank cards.
Despite Revolut's extensive international presence, it appears that Swedish accounts are no longer compatible with Revolut's services. This limitation affects the ability to use Revolut for financial transactions within Sweden.
Fees and Charges for Using Revolut in Sweden
Here are some general costs that users might encounter:
- Transaction Fees: Revolut may charge fees for certain types of transactions, such as international money transfers or payments made in foreign currencies.
- Currency Conversion Fees: When converting currencies, Revolut might apply a fee, especially if the conversion is done outside of standard business hours or involves less common currencies.
- Withdrawal Fees: Users could face fees when withdrawing cash from ATMs, particularly if they exceed a certain number of free withdrawals per month or withdraw amounts above a specified limit.
- Account Maintenance Fees: Depending on the type of account, there might be monthly or annual fees associated with maintaining a Revolut account.
- Premium Features: Access to premium features or higher-tier accounts often comes with additional costs, which can include enhanced customer support, higher withdrawal limits, and other exclusive benefits.
Is Revolut the Best Option in Sweden?
Even if Revolut were available in Sweden, it might not be the best option for users due to several limitations and restrictions that could hinder its usability and convenience.
- Bank Compatibility Issues: Revolut does not accept Swedish banks as beneficiaries.
- Card Acceptance Problems: Swedish bank cards, such as MasterCard, are not supported by Revolut.
- Customer Service Limitations: Revolut's customer service indicates incompatibility with Swedish accounts.
- Transaction Restrictions: Users may face difficulties in performing financial transactions within Sweden.
- Account Setup Challenges: Setting up and maintaining a Revolut account in Sweden can be problematic.
Alternatives to Revolut in Sweden
1) OneSafe
OneSafe is a leading alternative payment solution in Sweden, offering a seamless blend of traditional and Web3 financial services. With features like simple onboarding, global payments, and multi-currency support, OneSafe ensures ease of use, lower fees, and superior customer support, making it a superior option for businesses.
OneSafe Reviews
Users have praised OneSafe for its comprehensive features, including ACH, Crypto, Wire deposits, and Virtual cards. Many appreciate the ease of use and the support for most businesses, making it a preferred choice for financial services.
2) Wise
Wise offers a robust alternative payment solution in Sweden, featuring a multi-currency account, international money transfers, and a Wise debit card. Users benefit from no hidden fees, fast transfers, and the ability to manage money in over 40 currencies, making it a practical choice for global financial needs.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 86 reviews. Users have reported issues with money transfers being returned without notification and challenges with document approval. Check out more Wise reviews here.
3) Paypal
PayPal offers a secure and reliable payment solution in Sweden, featuring global acceptance, fraud monitoring, and Buyer Protection. Users can link multiple cards for easy checkout and send money internationally with ease. Businesses benefit from fast payment acceptance and Seller Protection, making PayPal a practical choice for diverse financial needs.
Paypal Reviews
PayPal has a rating of 4.4 out of 5 stars. Users generally mention high transaction fees and issues with the time it takes for funds to appear in their accounts. Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Sweden
Is Revolut available for Swedish residents?
No, Revolut is not available for Swedish residents due to bank compatibility issues.
Can I use a Swedish bank card with Revolut?
No, Swedish bank cards are not supported by Revolut for transactions or account setup.
Are there any fees for using Revolut in Sweden?
Yes, users may encounter transaction, currency conversion, and withdrawal fees when using Revolut.
What are the alternatives to Revolut in Sweden?
Alternatives include OneSafe, Wise, and PayPal, which offer various financial services and benefits.
Is Revolut customer service available in Sweden?
No, Revolut's customer service indicates incompatibility with Swedish accounts and does not support them.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Sweden is crucial for seamless financial transactions. While Revolut is not an option, alternatives like OneSafe offer comprehensive features and superior support. Explore OneSafe for a reliable and efficient payment experience. Sign up today!
