ICA Banken Reviews 

*update. Its 08:23 on the next working of my review and icabank have commented on it. Despite my last question to their customer service still not being answered in 48 business hours. All the questions and answers with their customer service takes 48hrs but comments on Trustpilot, 0823 the next day. Hej ICA Bank.. no need to reply to this message just send me the final details of my loan so I can pay the final balance and close my account, it's been a week and a half of discussions, with you replying every 2nd day. Focus on your customers not your image

terrible customer service.
1. i get one reply every 48hrs and that make working with them and getting anything does quickly. i missed an opportunity due to this.
2. their replies are normal inaccurate meaning I have to correct them and wait 48hrs agian
3. i will be closing my business with them and moving banks.

I've applied for a personal loan on a comparison service that sends your UC score to multiple banks, and ICA had the best offer. Once I signed up, ICA did one more UC check, and soon after a letter arrived asking for some documents. I sent all the documents exactly as specified (payslips and bank statement of last 3 months, anställningsintyg, copy of Swedish driver's license signed by 2 unrelated people), all corroborating the information I submitted before. After receiving the documents, they performed yet one more UC check, but I never heard back from them. After a week I contacted them to know the status of my application, and they said it was cancelled because the documents didn't meet the criteria. They didn't send me any kind of message with this update, and if the documents didn't match the criteria why would they do yet one more UC check (kicking me off of the "excellent" <0.1 tier), but even worse, the documents simply prove the information I submitted before, so it's very hard to make sense of all this procedure, which made me waste a lot of time and reduced my credit score in the process. Very unprofessional and nonsensical bank.

opened an account, used a little bit, KYC questions came and I told them that I am investing in stocks. They just closed my account with no explanation, took ages to take money out

ICA Banken has been very reliable and supportive.

Customer service is very competent and they have always helped me whether I was in Sweden or traveling abroad.

Thanks a lot for the great service!

Excellent, hassle-free experience. Keep up the good work!

I applied for a loan because i got an offer from ICA bank, after I have submitted all the documents via post, which is what they ask to do, then I get rejected stating that the documents were of older date . Which is a LIE . I got the latest documents. Then I reposted all the documents properly…. Guess what? This time I again get a rejection station “bank statement” was not included in the documents I posted . Which is again a LIE.

The people at ICA bank are not knowledgeable and they will have many many ways to reject even when they are the ones to offer you a loan. The 2nd time I posted the documents, I was in call with ICA customer support and did exactly what they asked! And still it is rejected because they WANT TO WASTE TIME, though they said “i have not submitted my bank statement “ i got proof that I did, when asked to verify again they say my documents are shredded , what a nice way to cover a LIE. My suggestion is to go to any other bank than ICA . Period.

Update:
Read the response in this thread , they replied to this review as “will be happy to assist over a phone call” ………… ICA, I was on a phone call while submitting documents, was on a phone call when it was rejected and could not get my problem resolved because you don’t have the ability to “SOLVE” problems, you have the ability to “WASTE TIME”.

I stand by my statement, “ to go to any other bank than ICA . Period. ”

I’m very satisfied from their service, it’s fast, easy, and reliable. The customer service is also very helpful and polite.

I feel so frustrated with ICA Banken. I was charged a late fee even though I have an autogiro set up for my loan. I called customer service, but I wasn’t satisfied with their explanation. How could my payment be late if I’m using autogiro?

When I checked my account, I noticed that money was deducted from my Directkonto whenever I made a purchase with my ICA Banken credit card. To avoid any issues, I deposited more money into my Directkonto to make sure this month’s loan payment would go through properly.

But again, they deducted money from my Directkonto when I used my ICA Banken credit card for purchases. What’s the purpose of this credit card then? They’re not taking money from the credit card account, but directly from my Directkonto instead. It’s so confusing and frustrating!

Very satisfying 😊
ICA bank is best😍

Would not waste your time with ICA Banken. Very poor and slow customer service. You will wait for hours to get any help on the phone, but most likely they won't actually want to help you.
Do yourself a favour and choose a bank with a local branch.

Title: Outdated international transfer options and poor value for money

I’ve been disappointed by ICA Banken’s handling of international transfers, especially considering that I’m paying 35 SEK per month in fees.

1. I am unable to make an international transfer to my French bank account via the mobile app — a basic feature in 2025.
2. International transfers are not available on weekends through the website, which feels very outdated. Many modern banks offer 24/7 transfer services, including weekends.
3. Transfers made after 5 PM are delayed until the next business day. For example, a transfer initiated on Thursday evening is only processed Friday, which adds unnecessary delay and inconvenience.
4. There’s no option for instant international transfers, which is quite surprising. Banks like Revolut offer this, and it’s now standard in France and other parts of Europe — both by regulation and customer expectations

Difficult to use if you dont know Swedish. I tried signing up but all the documents are in Swedish.

Hi,

Do not subscribe to an ICA Banken account *if* you are a foreign national. You will NOT have access to BankID, which is a tool that you basically need in Sweden to do almost anything except breathing. ICA Banken only provides BankID to Swedish nationals.

Another way for us foreign nationals coming here for studies or such to feel like children or 2nd rate individuals. Thanks!

For everyone that recently relocated to Sweden, I would advise you to stay away from this bank. It took about 3-4 weeks to get a bank account. The process on their side works smooth no complaints there. It took a bit longer for us to get what they call the "vault" from the post office because you need your ID-Kort first. So after about 2,5 months we had everything arranged, personal number (1,5 month), ID-Kort (3 weeks), we got our cards from the bank, login credentials and everything. Finally we could get a BankID cause without it, you simply don't exist in Sweden (no phone number, no internet, no insurance, etc.). Well guess again because that is not going to happen at this bank. You NEED a Swedish passport otherwise they won't give it to you. Doesn't matter if you are from the EU and have a passport from The Netherlands for example. So we cancelled the whole thing and are now starting all over at another bank.

A bank for just the small daily transactions. They have changed access to cards and international transactions without regard to customers. Twice I have had my card called back and replaced without prior notice. Very annoying without any false transaction, no contact and makes the bank useless as trusted bank when you travel and suddenly have the card revoked.

ICA Banken is a bank for swedes exclusively. As foreign resident or student without regular income they will not give you a mobile Bank-ID. This makes your bankaccount basicly useless, since you need a bankaccount at a real bank anyway, to be able to cope with daily live. Because without a mobile Bank-ID you're basicly handicaped in sweden.

Very satisfied

I like Ica Banken their customer support is good. Also like their insurances.

They may have some problems with their site and with the way foreign payments work but the customer service is unmatched hence the 4/5

3 months of issues to get a BankID
I have a more complicated case, and my poor review relates not to the difficulty in getting a BankID as a foreigner in Sweden (which relates to current law and is not ICA Banken's fault) but to the mixed messaging and time wasted due to customer service not providing the right information.
I lived in Sweden until the pandemic, when I left. I decided to pause my bank account at ICA Banken, expecting to return. Two years later, I had moved countries twice and had no more plans to return so when I changed my phone, I did not change the BankID app onto my new phone. I also did not keep my personlig dosa for ICA Banken. This is MY mistake.
However, when I realised I would be moving back (September 2023) I called to try and arrange a new personlig dosa and activation code to also get my BankID up and running again, and re-activate my bank account. I organised the sending of the personlig dosa and activation code (having confirmed that my passport was sufficient identification), flew to Sweden for this purpose and then when I arrived to pick up the letters, I was not given the personlig dosa and activation code because I did not have a Swedish ID card. This cost me ~2000 SEK. So, I decided to try again when I finally got my Swedish ID card from Skatteverket. I confirmed my new address and phone number, and re-ordered a personlig dosa and activation code. I received the personlig dosa, and then waited another week only to realise the activation code truly had not. I re-ordered and learned that they sent it via SMS to my old phone number somehow. I re-ordered it again via post, where it arrived later than promised. I activated my personlig dosa, tried to get my BankID activated, only to realise that I needed a national ID or Swedish passport (I only have a Skatteverket ID) so I could not activate it. I called to find a work-around, only to be told there was none. In other words, if I would have known in September/October that it wasn't possible, it would have saved me ~2000 SEK AND at least a month in which I could have had a BankID and a normal life (still can't do anything in Sweden without this BankID). The customer service was always friendly, but given how many times I needed to call to get this organized, how many mistakes were consistently made, how sometimes thy contradicted eachother and now the knowledge that it was never possible - perhaps you can imagine I am frustrated.