Overview
Northmill Bank, at a glance.
Northmill Bank is a bank headquartered in Sweden, regulated by Finansinspektionen. Business accounts cost from SEK 99 a month. Opening an account takes up to 10 banking days.
Northmill Bank AB is a Swedish bank. Deposits are covered by the Swedish state deposit guarantee up to SEK 1,050,000 per customer.
Why businesses pick Northmill Bank
- A licensed bank with deposits protected up to SEK 1,050,000
- No opening fee; SEK 99 a month billed yearly
- Bankgiro number, Swish and card terminals
- Business loans and a card with an optional credit facility
- Shelf-company route for new limited companies
- Trustpilot score of 4.8 from more than 4,000 reviews
Watch out for
- No foreign payments: no SEPA or SWIFT yet
- SEK only
- Only for companies registered in Sweden
- Online opening needs Swedish BankID
- Instant RIX-Inst payments cost SEK 99 each
Business fit
Will Northmill Bank accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on Northmill Bank's published rules
Likely no
Northmill Bank does not list United Kingdom among the countries where it accepts companies.
Northmill Bank does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What Northmill Bank publishes about the businesses it takes on.
Who Northmill Bank serves
- Startups and SMEs
- E-commerce
- Freelancers
- Professional services
Not supported
Industries and countries Northmill Bank does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use Northmill Bank?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
SEK only
Payment reach
Not published
Who can apply
Company incorporation countries1 countries · show list
- Sweden
Owner nationality
Not publishedOwner residency
Not publishedCompany types
Limited companies (aktiebolag), Partnerships, Sole traders, Swedish branches of foreign companies, New companies (shelf-company route)
Pricing
What does Northmill Bank cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Free
Monthly fee
SEK 99–139
depends on plan
Grundpaket, billed yearly
Lowest costSEK 99 per month
SEK 0 setup · SEK 1,188 in year one
Grundpaket, billed monthly
SEK 139 per month
SEK 0 setup · SEK 1,668 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Outgoing | ||
| SEPA | Not offered | Not available |
| SWIFT / international | Not offered | Not available |
| To another Northmill Bank account | SEK 99 | Fixed fee · Instant payments through RIX-Inst |
Other fees
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Physical card issue | Free | No charge · First card; extra cards SEK 29 |
| Card FX | 2% | Percentage of the amount |
Onboarding
From application to live account.
- 1
Apply
Start the application online or through the sales team.
- 2
Company and people
Give the company's registration details, directors and owners.
- 3
Checks
Upload the documents requested and complete identity verification.
- 4
Account live
Once approved, the account is opened and you receive its details.
Documents you need
Not published
FAQ
Your questions, answered.
Is Northmill a bank?
Yes. Northmill Bank AB holds a Swedish banking licence from Finansinspektionen (institution number 44012). Deposits are covered by the Swedish deposit guarantee up to SEK 1,050,000.
How much does the Northmill business account cost?
SEK 99 a month billed yearly (SEK 1,188) or SEK 139 billed monthly, with no opening fee. Extra cards cost SEK 29 and instant RIX-Inst payments SEK 99 each.
Can I make international payments with Northmill?
Not yet. The account is in SEK and Northmill says it plans to offer foreign payments during 2026.
Who can open a Northmill business account?
Companies with a Swedish organisation number and registered office in Sweden, including sole traders, partnerships, limited companies and Swedish branches of foreign companies. Online applicants need Swedish BankID.
Alternatives
How Northmill Bank compares.
If Northmill Bank is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 Northmill BankThis pageBank |   | SwedenSEK only |
 Lunar BusinessBank |  | Deposit protectionVisa cards |
 Revolut BusinessBank |   | Cards and spend controlsStartups and SMEs |
 Wise BusinessE-money institution |  | Low FX costsStandard businesses |
 FinomE-money institution |  | Freelancers and small companiesInvoicing |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.