The Swedish Foreign Group has drawn attention to the complaints that have been submitted to the organization regarding the banks that cause major problems for their Swedish customers.
Swedes who are abroad have in many cases chosen to terminate their involvement in one of the traditional banks in Sweden and at the same time have chosen to transfer their funds to banks based abroad.
The risk that arises when you choose to close your Swedish accounts and thus transfer your funds (money) to a bank abroad is that the support and customer service you are used to at home in Sweden does not work the same way in banks abroad and if you get into trouble with the bank, you do not have much to say about.
The bank that is a recurring problem for Swedes abroad is Ferratum Bank. Ferratum Bank has, without warning and without any explanation to their Swedish customers, chosen to block all bank accounts and bankcards they have with the bank. This has resulted in Swedes feeling extremely afraid of the upcoming situation that they do not have access to any money when they are abroad. No explanation for the action is received by Swedes from Ferratum Bank.
Ferratum Bank is not a Swedish bank. Ferratum Bank is a registered company in Malta and therefore does not comply with Swedish legislation.
Banks that are registered abroad do not use a Swedish BankID for electronic identification.
Before choosing to open accounts in a foreign bank, it may be good to do your own research where the seriousness of the bank should be investigated.