When running a business in Denmark and Sweden, having a local business account is not just an advantage - it is a strategic necessity. Local payment systems ensure faster transactions, lower fees, and a smoother customer experience. With a local business account, companies gain access to transfers in DKK and SEK, allowing them to receive payments without unnecessary costs and delays.

In both Denmark and Sweden, payment systems operate through a registration number (clearing number) and an account number. This setup enables fast and secure transactions without the need for expensive international transfers.

Denmark

• Registration number (Reg. no.): Four digits that identify the bank.
• Account number: Typically 7-10 digits that identify the specific account.
• Payment systems:
  • NemKonto – Used for public payments.
  • Instant transfers – Immediate payments between accounts.
  • SEPA – Euro payments within the EU/EEA.
  • SWIFT – International payments, often slow and expensive.

Sweden

• Clearing number: Four digits that identify the bank.
• Account number: Length varies.
• Payment systems:
  • Bankgiro & PlusGiro – Standard payment methods for bills and invoices.
  • Swish – Instant payments between individuals and businesses.
  • SEPA – Euro payments.
  • SWIFT – International payments.

Benefits of a local account

Although SEPA and SWIFT can be used for international payments, they often come with high fees and long transaction times. Therefore, having a local account in DKK and SEK is crucial for businesses.

1. Avoid Unnecessary Costs

International payments via SWIFT can be expensive and take several days. With a local account at Zento, businesses can receive payments from customers without extra fees and long waiting times.

2. Faster Payments with Local Systems

A local account in DKK or SEK allows businesses to receive payments via Bankgiro, NemKonto, and instant transfers, making funds available immediately.

3. Better Customer Service and Increased Credibility

Many companies prefer to deal with local accounts rather than international ones, as this ensures a smoother experience for both customers and business partners.

4. Future-Proofed with TIPS and TARGET Services (from 2025)

Starting in May 2025, TARGET Instant Payment Settlement (TIPS) will become part of Denmark and Sweden’s payment infrastructure, making instant payments in DKK and SEK possible on a European level.

If you run a business in Denmark or Sweden, you should not rely on international payments as your primary solution. A local account offers faster, cheaper, and more efficient payments in DKK and SEK.

Ready to optimize your payments? Apply for an account via Zento today and make your business more efficient.