Swedbank has updated its Swish transaction limits to enhance security and reduce fraud. Starting September 4, daily limits are set at 3,000 SEK for personal and business payments, with an option to increase to 10,000 SEK each. Temporary transfers up to 100,000 SEK remain possible.
Swedbank Revises Swish Limits to Combat Fraud
Swedbank Revises Swish Limits to Combat Fraud
Are you a "big spender" using Swish? Swedbank is changing the rules for how much you can transfer via Swish.
Swedbank is revising the Swish transaction limits.
Previously, the maximum amount you could transfer was 15,000 SEK per week.
Starting September 4, the system will change to a daily limit. The standard amount will be 3,000 SEK for personal payments and 3,000 SEK for business payments, totaling 6,000 SEK per day.
Customers can increase both amounts to 10,000 SEK, totaling 20,000 SEK per day.
Temporary transfers up to 100,000 SEK will still be possible.
Aiming to Prevent Fraud
The decision is a measure to make it harder for fraudsters, says Charlotte Nilsson, Swedbank's press officer.
"We continuously review how we can improve our products and services, and part of this change is to counteract fraud," she writes in an email.
She also has a tip for users.
"We encourage our customers to maintain a low limit and increase it as needed in the app or via online banking," she writes.
CORRECTION: The information about the new limits has been clarified. Swedbank has now introduced a daily maximum limit for Swish transactions, not a weekly one as before.
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