SEB tends to be one of the more greedy banks when it comes to retail consumer products marketed in Sweden, so can’t say I’m surprised that it is their practice to have the monthly default payment/settlement amount set so as to milk customers who are underinformed or not persistent enough in dealing with the bank. But it seems like most banks and retailers with credit/charge card products in Sweden have some special ways of milking consumers more than I see done by major US credit card issuers. That said, it also seems like issuers in Sweden seem to be more likely to accept a first time excuse to waive or revise costs from those who complain in perfect Swedish about a new/young bank product that had higher costs than expected.

For people who wait for card statements to come in the mail before paying up, the costs tend to be worse than for those who check online religiously.