fi-bankkonton-granskning-2026
FI Launches Investigation into Record Bank Account Closures by Swedish Banks
Finansinspektionen (FI) has launched a comprehensive investigation into the record-high number of bank account closures by Swedish banks during 2024. Last year, 54,000 bank accounts were denied or closed by the four major banks - a figure that now has FI's full attention.
A thorough investigation
"We will map how banks handle their obligation to offer payment accounts," says Mithra Sundberg, Head of Payment Supervision at FI. "The Payment Services Act gives consumers and companies a statutory right to access payment services, and we need to understand how this right is applied in practice."
The causes behind mass closures
According to FI's preliminary data, the most common reason for account closures is lack of customer knowledge. Many affected individuals are those without traditional Swedish ID documents or those with complex financial situations.
Another factor is the increased automation within banking. Experienced staff has been replaced by automated solutions that don't always have the same capacity to handle complex cases.
"Bank staff fear making mistakes - experienced staff replaced by automated solutions."
— Camilla Linder, Chair of Finansförbundet
Connection to payment infrastructure
Bank accounts are a fundamental component of Sweden's payment infrastructure. Without a payment account, it becomes extremely difficult to use Swish, access online banking, or participate in e-commerce.
"This is not just a banking issue, it's a payment infrastructure issue," says FI's Sundberg. "When people and businesses lose access to payment accounts, it affects the entire ecosystem around digital payments."
Sweden's dependence on Swish
With over 80% of Swedes using Swish for digital payments, payment accounts are particularly important. The Swish system requires bank accounts for both incoming and outgoing payments, which makes account closures directly affect the payment system's functionality.
FI's measures
To handle the situation, FI is working on new guidance for more individual assessments. The goal is to balance banks' responsibility to combat money laundering and fraud with their obligation to offer basic payment services.
"Proportionality is central," says FI's Head of Division Halszka Onoszko. "We must ensure that measures against money laundering are not so strict that they block legitimate users' access to payment services."
The EU's new regulatory framework in the background
This investigation takes place alongside the formation of the EU's new AMLA authority (Authority for Money Laundering and Terrorist Financing). The new Money Laundering Regulation (EU 2024/1624) will be applicable from July 10, 2027 and will strengthen requirements for banks and other financial institutions.
FI will retain its national supervision but will adapt its methods to AMLA's framework. The increased focus on money laundering combat has already led to more restrictive decisions from banks.
What can companies do?
Companies affected by account closures have certain rights:
- Right to receive information about why the account is being closed
- Opportunity to appeal the decision to FI
- Right to get help transferring existing payments and terminating ongoing transactions
FI has also indicated that it will provide guidelines on how banks should handle transition periods for affected customers.
Practical advice for companies
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Document all communication with the bank about account closures
- Contact FI if you believe your account closure is disproportionate
Connect to alternative payment systems already during downtime
The future of Swedish payment infrastructure
FI's investigation will be an important part of the development of Swedish payment infrastructure. The question of balance between security and accessibility will determine how Sweden's payment market is shaped in the coming years.
"We must find a solution that both combats crime and ensures that everyone has access to the payment services that are fundamental to participating in society," concludes Sundberg.
The results of FI's investigation are expected to be presented in autumn 2026 and will form the basis for any changes in Swedish supervision of payment services.
---The article is based on FI's press releases and Realtid's reporting on the investigation of banks' account closures.