Swedish Banks’ Customers Pay Most in Europe
Service costs at Swedish banks have risen by 4.9 percent in the last year, compared to a 1 percent dip in the rest of the world.
Only the US tops Sweden’s record with a 5.7 percent rise. According to an investigation carried out by consultants Capgemini, Swedish banks’ high service costs are due to a lack of competition from foreign banks. In addition, Swedes’ avid use of internet banking means that many banks add on further service costs for online services.