Handelsbanken

Handelsbanken is a bank that was established in Stockholm in 1871, and its home markets are Sweden, Norway, the Netherlands and the UK¹. In Britain it works differently from the high street names: it is built around local branches, and most things, from opening an account to applying for a mortgage, start with a conversation with your branch rather than an online form. The UK business is part of the wider Handelsbanken group, and its website is www.handelsbanken.co.uk².

For personal customers it offers current accounts, mortgages, savings, and loans or overdrafts linked to your account³. Its mortgage lending is a particular strength: it considers a wide range of property types and income situations, and applications are dealt with in branch, where decisions are made by someone who knows you². This page explains what it offers, how its branch-based banking works, how to use the Post Office for cash, what to do if you are struggling with payments, and how your money is protected.

What Handelsbanken offers personal customers

Handelsbanken's personal banking rests on a current account, and around that it offers mortgages, savings, and any loans or overdrafts you hold with the bank³. It does not run the wide product range of the big high street banks: there is no credit card range, no packaged accounts and no in-house insurance products on the pages referenced here. What it sells instead is relationship banking, where your branch and account manager handle your arrangements directly.

Its current accounts come with a debit card, and a charge card is available as a separate application. If you already bank elsewhere, Handelsbanken offers the Current Account Switch Service: it transfers your existing balance, Direct Debits, standing orders, incoming payments such as your salary, and the beneficiaries you have already set up, and you choose the date of the switch⁸. If something goes wrong with the switch, Handelsbanken will refund any interest or charges incurred on either the old or the new account as a result⁸. The whole process is handled by the bank, and your branch is the point of contact for questions⁸.

Its mortgages are where the bank puts most of its emphasis. It offers residential mortgages and remortgages, offset mortgages, buy-to-let, additional secured lending and self-build². It states that alongside more regular PAYE income it can look at the bigger picture when assessing how you will repay, including multiple income streams, directorships, additional securities, retained profits and pensions². It can also consider a wide range of properties, including Grade I and II listed buildings, holiday homes, large acreage, unusual construction and mixed use². Applications are dealt with in branch, where the key decisions are made by someone who knows you². If you are buying a home, our guide to buying a home explains the process end to end.

For savings, the bank offers accounts alongside its current account range³, and it also has a wealth and asset management arm, Handelsbanken Wealth & Asset Management, which handles investment business and is part of the same UK group¹. If you are weighing up savings against investing, our guides on savings accounts, ISAs and investing set out the options across the market.

Handelsbanken debit and charge cards, at home and abroad

Handelsbanken issues two personal cards: a Debit Card and a Charge Card. The Debit Card can be applied for when you open a Handelsbanken Current Account, or later using a standalone application form⁹. The Charge Card is different: to apply for one you must already have a Handelsbanken Current Account, and it has a separate application process⁹. A Charge Card lets you make purchases and cash withdrawals up to an agreed credit limit and repay the balance in full each month, with no interest charged⁹. You can add additional cardholders to a Charge Card⁹.

Both cards carry the Mastercard logo, and you can use them to withdraw cash anywhere in the world you see the Mastercard or LINK logos⁹. Contactless is supported, and you can also make payments with Apple Pay: any Handelsbanken debit card or charge card bearing the Mastercard logo can be linked, except business debit or charge cards¹⁰. If you have more than one Handelsbanken card, you can register each one to your device, and when a linked card is replaced, for example because it expires or is lost or stolen, the new card is automatically registered to your device¹⁰. The terms and conditions of your charge card or current account apply in addition to the Apple Pay terms¹⁰.

When you use a card abroad, a fee applies to non-sterling transactions, including card purchases and cash machine withdrawals; the bank's card pages set out the current percentage, so check there before you travel⁹. You can also switch your card off so it cannot be used abroad, or online and by telephone, and switch it on again when you need to, which is a useful control before and after a trip⁹. If you cannot find your card but do not think it is lost or stolen, you can freeze it while you look⁹.

One protection is worth knowing about: Section 75 of the Consumer Credit Act, which covers credit card purchases, does not apply to debit or charge cards⁹. That means a card dispute with Handelsbanken runs through the bank's own dispute process rather than the statutory Section 75 route. Our guide to credit cards explains how charge cards differ from credit cards across the market, and money abroad covers travel money options generally.

Banking with Handelsbanken: your branch, online banking and the app

The branch is the centre of Handelsbanken's model. Registration for Individual Online Banking is done by contacting your branch, not through the website¹¹. Once registered, you log on with a log-on card and reader, and the same log-on card and reader are used to activate the mobile app¹¹. Customers without a mobile phone, or in an area with poor mobile signal coverage, are asked to contact their branch, since the bank relies on text messages or the app to send Verification Codes when you shop online¹¹.

The Individual Banking app runs on iOS and Android devices, including phones and tablets, and to use it you must be registered for Individual Online Banking¹². Setting it up follows a fixed sequence: log on to Individual Online Banking, choose a Personal ID and a 6-digit Passcode in the Mobile Banking section, download the app, and then activate each device using your log-on card and QR reader¹². Activation is required for each separate app and on each device, so a phone and a tablet each need their own activation¹². You can change your Personal ID and Passcode at any time in the Mobile Banking section, and you can deactivate an old or lost device there too, under 'Activated devices'¹².

Once running, the app lets you view account and card balances and transactions, make transfers and payments within and outside the UK, freeze, activate or view the PIN for your Debit and Charge cards, approve card payments for online purchases, receive notifications, and add cards to Apple Wallet¹². This is a common pattern across the market: most banks have their own smartphone and tablet apps, found in the Google Play Store for Android and the App Store for Apple devices, and you generally must already have an account with the bank before you can register for online banking¹³.

Everyday banking at the Post Office

Handelsbanken has partnered with the Post Office to deliver a range of banking services, and Individual Banking customers can access banking at over 11,500 Post Office branches across the UK¹⁴. This matters because Handelsbanken's own branch network is far smaller than the high street banks': the Post Office partnership is how you get everyday cash access wherever you are.

With your Handelsbanken Debit Card you can pay in cash, check your current account balance, and withdraw cash at any Post Office branch, subject to your transaction limits¹⁴. You will be given a printed receipt to confirm the transaction¹⁴. Some banks also let you cash a current account personal cheque at the Post Office free of charge; ask your local Post Office what it can do with your account¹⁵.

This route is part of a wider arrangement across UK banking. Post Offices offer simple banking facilities, such as withdrawing and depositing cash and cheques, for customers of nearly all banks¹⁵. According to UK Finance, 99% of retail banking customers can carry out basic banking at the more than 11,500 Post Offices across the UK¹⁶. Where a community has lost its bank branches entirely, banking hubs provide face-to-face banking services and are operated by the Post Office¹⁷. Our guide to current accounts explains how access to cash and branches differs between banks.

Opening an account and confirming your identity

Opening an account with Handelsbanken starts, like everything else, at the branch. As with any UK bank, you will need to show proof of who you are and your address: banks usually ask for two separate documents, such as a passport and a recent bill, and if you do not have the right documents, ask the bank what it will accept instead, which can include a letter from a responsible person such as a GP, teacher, social worker or probation officer¹⁸. MoneyHelper gives similar guidance: when opening an account you will need proof of identity and address, and if you lack the usual documents, the bank may accept alternatives¹⁹.

Handelsbanken then confirms your identity electronically. Your local branch will let you know when it requires you to confirm your identity²⁰. The bank has partnered with Mitek, an electronic identification and verification provider, and you will receive a text and/or an email with a link to the Mitek portal²⁰. Through the portal you take a clear picture of an in-date identity document, which must be a driving licence, passport or ID card, and a photo of yourself with a clear background²⁰. Address verification and background checks are then done electronically via Equifax²⁰. Handelsbanken provides Mitek with information that helps confirm your identity, such as your name, contact details and address²⁰.

If you are switching from another bank, the Current Account Switch Service moves your balance and payment arrangements on a date you choose, and Handelsbanken handles the process⁸. Our guide to getting started with your money covers what you need when opening your first account.

If you are struggling with payments or your mortgage

Handelsbanken asks customers who are struggling to contact their account manager directly by phone or email, or to send a secure message through online banking²¹. The bank states that contacting it will not affect your credit rating²¹. To understand your affordability and put the right support in place, it will ask you to complete a budget planner form²¹.

The support options it lists are: changing the date of your Direct Debit, temporarily reducing your monthly payments, and extending your mortgage term to lower your monthly payments²¹. The bank can also help you repay any missed payments when you can afford to²¹. It adds an important caveat: some of these options may mean you pay more overall, including more interest²¹.

This reflects the wider position across the market. Citizens Advice notes that lenders may help if you are struggling to pay your mortgage, which could include reducing your monthly payments or taking a break from your payments for a few months²². The Financial Ombudsman Service confirms that discussing your options will not have any impact on your credit file, for example, when you contact your lender about difficulty while still up to date with your payments²³. But missed payments themselves can affect your credit rating, and payment breaks can affect your credit score²³. The charity Scope notes a Mortgage Charter support option for people finding it hard to pay their mortgage repayments who have not yet missed a repayment²⁴. If you are worried about arrears, our guides on debt and credit scores set out your rights and where to get free help.

Getting extra help: third-party access, separation and bereavement

Handelsbanken can set up third-party access in branch, letting someone help manage your money, including carers supporting a customer³. The bank can also set up access for family or friends to help manage money on your behalf, conduct a financial review to see what support options it could offer, and give individual support with your products, such as your current accounts, mortgages, savings and any loans or overdrafts³. Some banks have a specific page for disabled customers and specialist teams that support people with access needs, so it is worth asking your branch what it can put in place²⁵.

If a joint account is going through divorce or separation, and the named holders no longer live together, Handelsbanken can make sure both get all letters and statements separately, and can help you both set up individual banking arrangements³. MoneyHelper explains how joint accounts work and what to consider when a relationship ends²⁶.

When a customer dies, contact the branch. For joint accounts, the balance automatically passes to the remaining account holder or holders, and the account continues in the remaining names²⁷. The bank will ask for an original, certified or official copy of the death certificate²⁷. For sole accounts, the bank blocks the account, cancelling Direct Debits, standing orders, all cards, online banking access, overdrafts and open credit facilities, cancels cheque books, returns pending cheques, and removes any third party authority or power of attorney mandates, which expire when a customer dies²⁷. Statements and correspondence are held until the personal representatives are known²⁷. Probate is required if the customer's Handelsbanken account contained £20,000 or more²⁷. If there was not enough in the estate to pay for the funeral, the bank can release some money from the account on receipt of a copy of the funeral invoice, if there is enough in the account²⁷. HMRC asks that you report a death to its Bereavement Helpline so tax affairs can be settled²⁸.

Scams, fraud and card disputes: how Handelsbanken handles them

Handelsbanken distinguishes fraud from scams. Fraud happens when a criminal gets access to your accounts under false pretences; a scam is when someone tricks you into revealing sensitive information that gives them access to your money, or into making payments to someone else²⁹. A card dispute starts out as a legitimate card transaction, but at some point something goes wrong and you want to challenge the payment; if you are having an issue with something you have bought on your Handelsbanken card, speak to your branch²⁹.

The bank's security rules are absolute. It will never phone you out of the blue and ask you to do anything with your log-on card or reader, and it will never ask you to reveal any part of your log-on card number³⁰. Your Verification Code, sent by text from 'HBSecure' to your registered mobile number and confirming the transaction amount and the last four digits of the card, is unique to you and should not be shared with anyone, even someone claiming to be from Handelsbanken¹¹. If in doubt, hang up and call your branch immediately, on a different phone if you can³⁰. The bank suggests testing a caller by asking "What's my branch?" or "Who's my account manager?": if it is really the bank on the phone, it will not mind, and it will know the answers³⁰. A scammer recently phoned one of Handelsbanken's customers pretending to work for the bank; the customer recorded the call and allowed the bank to share it as a warning³⁰. After any call you are unsure about, check your accounts on Online Banking or the app immediately, and tell your branch straight away if you spot something unusual³⁰.

The app can tell you in real time about card payments, payments to new beneficiaries, standing orders and Direct Debits; to get these, enable push notifications both in the Individual Banking app and on your mobile²⁹. Other advice from the bank: report any lost or stolen cards immediately, never tell anyone your PIN, including the bank or the police, and do not write it down; always use a secure website for online payments, one with https: at the start of the address or a padlock; and watch out for sellers asking you to pay them directly rather than through a marketplace platform's payment channel, which means less protection and is a potential sign of a scammer²⁹. Keep your mobile number up to date with the bank, or use the app, so it can send you Verification Codes when you are shopping online²⁹.

If you have revealed personal information or see unrecognised activity, contact your bank using the phone number on the back of your card or on a recent statement³¹. The Financial Ombudsman Service can look at complaints about the way a financial business has dealt with a scam involving unauthorised payments, stolen details or identity theft³². Our guide to scams and fraud covers the warning signs and the refund rules in detail.

Complaints and where to take them

Start with your branch or account manager, since that is how Handelsbanken works, but if talking does not resolve things, make a formal complaint. The standard route across UK banking is: complain to the bank's customer services, and it then has eight weeks to investigate and give a final response; if you are not satisfied, you can take the complaint to the Financial Ombudsman Service, which is free²⁶. The rules give consumers the right to complain to the firm and seek redress, and to refer the complaint to the ombudsman if the firm does not satisfy the complaint³³. Scope notes that if you are still not happy after talking to your bank, you can make an official complaint or move to a more accessible account²⁵.

The ombudsman can look at most complaints about banking, mortgages and how a firm handled a scam³². If you need help making a complaint, Citizens Advice explains how to check whether a financial service has followed the rules²². Our guide to consumer protection explains your rights across financial services and how the ombudsman process works.

FSCS protection: how your deposits are covered

Money you hold with Handelsbanken is covered by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. The bank is on the Bank of England's list of UK banks authorised to accept deposits². FSCS protects up to £120,000 in total across all accounts you hold, either in your name or where you are listed as the beneficial owner, per banking licence⁷. Coverage includes deposits, current accounts and savings accounts³⁴.

Two details matter. First, protection is across all accounts held with the bank, not per account: if you hold a current account and savings with Handelsbanken, they count together towards the one £120,000 limit⁷. Second, temporary high balances are protected differently: FSCS can protect up to £1.4m for six months for balances that arise from a qualifying life event, such as a house sale or an inheritance³⁴. FSCS also notes that if a savings marketplace or aggregator deposited your money with a regulated bank that then fails, it is likely FSCS will protect it³⁴. You can check your own position using the FSCS protection checker³⁴.