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Visit Study in Sweden's Cost of Living in Sweden page as a guide. Please note that as a student in Sweden you have to buy your own text books. This cost varies from course to course.

Student discounts are given at numerous shops, stores, cafés, etc. in our area. You need to be a member of the Student Union in order to get the discounts. The Student Union at University West has more information about membership and student discounts.

Please also note that when applying for a residence permit, you must prove to the Swedish Migration Agency that you will have sufficient funds to continue supporting yourself for the remaining study period.

Here you can download Statement of Cost if needed.


The currency in Sweden is the Swedish krona (SEK). Check the currency converter for updated exchange rates. It is a good idea to exchange some currency before you leave your home country, especially if you arrive in Sweden on a weekend when banks are closed. Credit cards can be used in most shops and ATMs.

How to manage your finances in Sweden

If you are staying in Sweden for a shorter period (one semester or less), we recommend you use a credit card that is accepted internationally for economic transactions in Sweden. Credit cards are commonly used everywhere.

How to open a bank account

If you are a student staying in Sweden for at least one year, we recommend you open a bank account in one of the banks represented in the city.

The process of opening a bank account is complicated, and you can prepare for it by talking to your home bank, asking what they need for you to be able to transfer money, etc. 

The banks in Sweden have no possibilities to administer cash - therefore it is recommended that you transfer funds from your home bank once your Swedish account is opened. Be aware that it may take up to 10 weekdays to open a Swedish bank account.For some citizens outside EU (Iran, Pakistan, etc.) it is very difficult to transfer money due to different EU directives and sanctions. If it’s possible, talk to someone with experience in these matters before you travel here.

General Banking Rules in Sweden

Bank information in 21 different languages