Can I Buy Bitcoin with Swedbank?

Swedbank clients can buy Bitcoin through regulated cryptocurrency exchanges approved by the Financial Supervisory Authority (Finansinspektionen). While Swedbank doesn’t offer direct crypto trading, it allows secure transfers to compliant exchanges in Sweden, ensuring a simple process for those adhering to regulatory standards.

How to Buy Crypto with Swedbank

Swedbank supports cryptocurrency investments by enabling transfers to regulated exchanges. Binance, registered with the Swedish Financial Supervisory Authority (registration number 66822), allows SEK deposits via bank transfers or cards and provides access to over 350 cryptocurrencies for trading and staking.

Steps to buy crypto with Swedbank:

1. Create an Account: Register on Binance and complete the required KYC verification.
2. Deposit Funds: Access the “Deposit” section on Binance, select SEPA or another funding method, and transfer funds from your Swedbank account.
3. Browse Cryptocurrencies: Explore Binance’s wide selection of digital assets.
4. Buy Crypto: Choose a cryptocurrency, specify the amount, and complete the purchase.

What are the Fees?

If you’re planning to use your Swedbank account to purchase cryptocurrency through Binance, here’s a breakdown of the platform’s fees:

• Deposits: Binance doesn’t charge fees for bank transfers in Euros or SEK, making it cost-effective for Swedbank users.
• Withdrawals: Fees depend on the specific cryptocurrency and fluctuate with blockchain network conditions.
• Trading Fees: Standard spot trades incur a 0.1% fee. Paying with Binance Coin (BNB) reduces this by 25%, lowering the rate to 0.075%.

Compared to platforms like Bitpanda, which charges a 2% trading fee, Binance’s fee structure is highly competitive, making it a strong option for Swedbank customers.

Swedbank Cryptocurrency Policy

Swedbank allows clients to transfer funds to cryptocurrency exchanges regulated by the Swedish Financial Supervisory Authority (Finansinspektionen), ensuring compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) standards.

While Swedbank does not provide direct cryptocurrency trading services, it supports customers in securely accessing digital assets through approved platforms. 

About Swedbank

Swedbank is a leading Nordic-Baltic banking group, serving approximately 8 million customers in Sweden and the Baltic countries. It offers a broad range of financial services, including savings, loans, mortgages, and investments, for both private and corporate clients.

As the third-largest bank in Sweden, Swedbank operates 143 branches and collaborates with local savings banks to provide nationwide coverage.

Bottom Line

Swedbank supports its clients in investing in cryptocurrencies by allowing fund transfers to exchanges regulated by the Finansinspektionen. 

Trust platforms like Binance, which accept SEK deposits and comply with local regulations, provide secure access to digital assets and features like staking.