I haven't done a lot of travelling and I'm feeling a little overwhelmed thinking about how to handle money for my upcoming trip. Should I change all my money to SEK and if so, here or when I get to Sweden? I have budgeted what I can spend for the trip, should I consider creating a special debit account so I don't carry cash everywhere? Put some on a VISA card?
Any tips at all are welcome.
I would not bother changing any money. When you get to Sweden, hit the ATM for a couple hundred $ worth of SEK. Credit cards are very widely used in Sweden and you may find you have SEK left over.
You do what you do at home - you use credit cards (get ones with zero foreign exchange fees) and a good ATM debit card tied to your checking account. Withdraw money as you need it from a foreign ATM. It's that simple. No need to order anything ahead of time. Scandinavia has very high credit card usage so you may not need much in cash at all.
You don't need cash in Sweden. They'd prefer even the smallest amount of money; i.e., coffee, to be on a card. Take a no transaction fee credit card with a chip and you will be fine. If that makes you uncomfortable, then take a small amount of krona with your or stop at the ATM at the airport. However, this is one of the countries that I love because of their cashless society. You will find cash to be an inconvenience.
In regard to both debit and credit cards, make sure to use those that have no foreign exchange fees or ATM charges. There are a number of issuers and banks that offer them. I have capital One CC and checking account. Charles Schwab also offers them.
Plan on using a no fee/no FX fee credit card such as Capital One and use your credit card for most purchases. Get a small amount of SEK from an ATM in Sweden. Nordic countries are cashless societies with Sweden leading the cashless pack:
http://www.bbc.com/news/business-41095004
Why Sweden is close to becoming a cashless economy By Maddy Savage
Business reporter, Stockholm 12 September 2017Sweden is the most cashless society on the planet, with barely 1% of
the value of all payments made using coins or notes last year. So how
did the Nordic nation get so far ahead of the rest of us?Amongst the other typically Scandinavian touches - minimalist white
tiles and exposed filament light bulbs - is another increasingly
common sight in the Swedish capital: a "We don't accept cash" sign.Coins and banknotes have been banned on buses for several years after
unions raised concerns over drivers' safety.Even tourist attractions have started to gamble on taking plastic-only
payments, including Stockholm's Pop House Hotel and The Abba Museum."I like cards. I'm just angry because about a million people can't
cope with cards: the elderly, former convicts, tourists,
immigrants. The banks don't care because [these groups] are not
profitable," he argues.
