The country's ATMs stopped working at midday on Tuesday.
"We have identified the problem and we're working to rectify it," Johan Nilsson, spokesperson at Bankomat AB, said in a statement at the time.
By 1.30pm the machines were up and running again.
"We had a fault in our IT system that we fixed. Now we're looking into what went wrong," Nilsson told the Aftonbladet newspaper.
He dismissed any notion of a hacker attack being behind the system's failure.
The incident likely went unnoticed among most Swedes, as only around a quarter of all retail transactions in Sweden involve cash.
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In August last year, Swedish company Bankomat revealed that it would take over all 2,220 of the country's automatic teller machines run by the five biggest banks. Bankomat is jointly owned by all five banks, Danske Bank, Handelsbanken, Nordea, SEB, and Swedbank.
The company promised at the time that transactions would run more smoothly than before.