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SEB review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Our verdict

SEB pairs a free everyday account with a Swedish bank licence, so students and teens keep costs down without giving up deposit protection. Fees run SEK 0 a month on the everyday account, and savings pay 0.1% variable, with withdrawals free at any time.

Key facts

Best for
Free banking for students and teens in Sweden who want protected savings alongside an everyday account.
Monthly fee
SEK 0↗
Deposit protection
EU DGS up to EUR 100,000↗
Currency conversion fee
1.65%↗
Local account details
IBAN↗
Free ATM withdrawals
SEK 0↗
Transfer fee
SEPA payment via internet banking 0 kr; foreign payment via internet banking 50 kr (70 kr from 1 April); one-off transfer to an SEB account 0 kr↗
Legal entity
Skandinaviska Enskilda Banken AB (publ)↗
Headquarters
Sweden↗
Founded
1856↗
Support channels
Phone, Email, Help-centre↗
Audience
Students, Teens
Pricing model
No monthly fee
Features
Free ATM withdrawals
Official website
seb.se

Savings

Headline rate
0.1%↗
Rate type
Variable↗
Access terms
Free withdrawals at any time, savings not tied up↗
Account kind
Easy access↗

Money transfer

Exchange rate markup
1.65%↗
Payout methods
Bank↗
Fee to send 1,000
SEK 50↗

Facts checked September 26, 2026, 7 sources

Apps and profiles

Elsewhere
Wikidata

Pros and cons

Pros

  • No monthly charge: SEK 0 on the everyday account, and free ATM withdrawals under free atm
  • Deposits held for EU DGS up to EUR 100,000 in Sweden under Finansinspektionen supervision
  • Savings accessible on demand: Free withdrawals at any time, savings not tied up
  • Helpful support: phone, email and help centre covers phone, email and a help centre

Cons

  • Currency conversion costs 1.65% with a margin of 1.65%, so card spending abroad is dear
  • The savings rate of 0.1% is variable, so the return on balances moves with rates
  • Foreign payments through internet banking cost SEK 50
SEB

Ready to try SEB?

Scored 9.4 / 10 by VaultCue.

See alternatives

Who it suits

  • Students and teens in Sweden priced out by monthly account charges
  • Anyone keeping savings accessible without locking balances away
  • Residents paying in SEK who bank mainly through internet banking

Who should look elsewhere

  • Frequent travellers and expats who convert currency often, since 1.65% adds up
  • Anyone chasing a high fixed savings return rather than an easy-access account
  • People wanting a fee-free account elsewhere, since bunq and bunq Spain Bank Account also charge €0

How SEB compares

Where SEB is available

Available
Sweden, United Kingdom
Licence in Sweden
Finansinspektionen, checked September 26, 2026
Licence in United Kingdom
Prudential Regulation Authority (third country branch authorisation), subject to regulation by the Financial Conduct Authority, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does SEB charge to keep an everyday account?+

SEB lists a monthly fee of SEK 0 on the everyday account, and the pricing is part of its no monthly fee model. ATM withdrawals are also covered, listed under free atm with an allowance of SEK 0. Swedish payments through internet banking cost nothing extra.

Is my money protected if SEB fails?+

Deposits are covered by EU DGS up to EUR 100,000, and SEB is supervised in Sweden by Finansinspektionen. The legal entity behind the brand is Skandinaviska Enskilda Banken AB (publ). A third country branch authorisation in the United Kingdom is subject to regulation by the Financial Conduct Authority.

Can I withdraw from the savings account whenever I like?+

Yes. The easy-access savings account is built around Free withdrawals at any time, savings not tied up, so money is not tied up in a term. The account kind is listed as easy access, and the rate is variable, meaning the return follows rate moves rather than being fixed for a term.

What interest does SEB pay on savings?+

The headline rate is 0.1% and it is variable. That sits well below the 3% median across savings accounts on the site, so the account works more for convenience than for return.

What does it cost to convert currency or send money abroad?+

Card conversion carries a fee of 1.65% and a margin of 1.65%, higher than the 0.5% median across the brands tracked. Foreign payments through internet banking cost SEK 50, while SEPA payments through internet banking are free.

Who is SEB aimed at?+

SEB targets student and teen customers, so it reads as a bank built for younger account holders in Sweden. Local payment details are the standard kind, listed under iban, and the brand is headquartered in Sweden.

How do I get help if something goes wrong?+

Support runs on phone, email and help centre, so you can reach the bank by phone, by email or through a help centre. The same contacts handle questions on payments and savings, and the bank is reachable from SE.

Sources

Compiled from 7 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type, Currencies.

SEB

SEB

Free banking for students and teens in Sweden who want protected savings alongside an everyday account.

9.4/10See alternatives