The present study investigated processing of morphologically complex words in three different frequency ranges in monolingual Finnish speakers and Finnish-Swedish bilinguals. By employing a visual lexical decision task, we found a differential pattern of results in monolinguals vs. bilinguals. Monolingual Finns seemed to process low frequency and medium frequency inflected Finnish nouns mostly by morpheme-based recognition but high frequency inflected nouns through full-form representations. In contrast, bilinguals demonstrated a processing delay for all inflections throughout the whole frequency range, suggesting decomposition for all inflected targets. This may reflect different amounts of exposure to the word forms in the two groups. Inflected word forms that are encountered very frequently will acquire full-form representations, which saves processing time. However, with the lower rates of exposure, which characterize bilingual individuals, full-form representations do not start to develop. [This study was supported by the Joint Committee of the Nordic Social Science Research Councils (NOS-S).]