ICA Banken AB

ICA Banken AB is a Swedish retail bank owned by ICA Gruppen AB and focused on consumer banking linked to the ICA retail ecosystem. Established in 2001 and operating without a traditional branch network, the bank delivers services primarily through online and mobile channels and customer support by phone and chat. Its product set includes current and savings accounts, debit and credit cards on the Mastercard network, mortgages, and unsecured consumer credit, along with insurance distributed via the affiliated ICA Försäkring AB. Payments functionality covers Swish, Bankgiro and Autogiro, e-invoices, and support for major mobile wallets such as Apple Pay and Google Pay; authentication is handled via Swedish BankID in line with PSD2 strong customer authentication requirements. The banking offering is integrated with ICA’s Stammis loyalty program and Apotek Hjärtat, enabling points accrual and other program benefits when using ICA-branded payment products. Mortgages are offered with standard Swedish fixed and variable interest terms, subject to credit assessment, loan-to-value limits, and national amortization rules. Cash services rely on the Bankomat ATM network and card cash withdrawals at ICA stores, while cash handling and over-the-counter banking are otherwise limited. ICA Banken AB is authorized and supervised by Finansinspektionen, and customer deposits are covered by the Swedish deposit guarantee scheme; international transfers, including SEPA, are available but may involve foreign exchange and transfer fees. Pricing, interest rates, and eligibility criteria are set by the bank and can change; customers typically manage accounts digitally and may need to complete identity verification and agreements electronically via BankID.