Lysa review

The monthly fee is SEK 0, and the account runs on a no monthly fee model, so keeping it open costs you nothing each month. Withdrawals are free too, so taking money out does not eat into the balance either.

Deposits sit under the EU deposit guarantee scheme, with protection listed as EU DGS up to EUR 100,000. The provider is licensed in Sweden by Finansinspektionen, with the licence recorded as PSD_PI SE_FINA!35281, so the money is held by a regulated institution.

Yes. The account is easy access, so withdrawals are free and there is no lock-in period on the balance. That makes it a straightforward home for an emergency fund, since the cash is there when you need it.

The rate is variable, so it can rise or fall as market conditions move. Nothing is locked away for a set term, which suits short-term saving but means you are not securing a return over a longer period.

The minimum deposit is SEK 0, so you can open the account with a small balance and top it up as you like. It ranks 1 of 379 brands on minimum deposit, which is as open an entry as the market gets.

The account is run by Lysa AB, a provider based in Sweden. The same company is licensed by Finansinspektionen, with the licence recorded as PSD_PI SE_FINA!35281, so you are dealing with a Swedish institution rather than a foreign platform.

Support runs on email, phone and help centre, so you can email the team, call them or work through the help centre. There is no live chat or public forum in that list, so a phone call or email is the quickest route to a person.

It suits Swedish savers who want instant access, no term and no monthly charge. It fits less well if you need a fixed rate for a set period, because the rate is variable and the account is easy access.