Opening a Dutch Bank Account:

Expats who are settling in the Netherlands will typically need to open a Dutch bank account for various purposes, including receiving salaries, paying rent, and daily expenses. Here's what you need to know about opening a Dutch bank account:

Banks in the Netherlands:

Before opening an account, consider which bank suits your needs and principles. Most banks in the Netherlands charge an annual fee for having an account. Some of the major Dutch banks include:

  • ABN AMRO
  • Rabobank
  • ING
  • SNS Bank
  • ASN Bank
  • Triodos

There are also digital/mobile banks like bunq, Revolut, and Knab.

How to Open a Dutch Bank Account:

To open a private bank account in the Netherlands, follow these steps:

  1. Choose Your Bank: Select a bank that aligns with your preferences and needs.

  2. Make an Appointment: You can either make an appointment online or visit your nearest branch. Some banks may even offer to send an employee to meet you at your home or workplace.

  3. Required Documents: To open a bank account in the Netherlands, you'll typically need the following documents:

    • BSN number (Burgerservicenummer)
    • Valid form of ID (passport or identity card)
    • Proof of address (e.g., a rental contract)
    • Residency permit if you are from outside the EU

  4. Approval: After submitting your details, you'll have to wait for your account to be approved, and your new pinpas (debit card) will be sent to you.

Banking for Businesses in the Netherlands:

If you're starting a business in the Netherlands and want to open a Dutch bank account for your business, the process is similar to opening a personal account. You'll need to provide additional details about your business, such as your KvK number (Chamber of Commerce registration) and information about your turnover.

Internet Banking in the Netherlands:

Internet banking is widely used in the Netherlands for convenience and security. Most transactions that can be done in person are also available online. Some banks may offer internet services only in Dutch, but assistance is usually provided when you open your account.

E.dentifier Card Readers:

To log in to your internet banking account, you'll need an e.dentifier card reader, provided by your bank. Each Dutch bank has its own card reader. Some banks may also use your mobile phone number for added security.

iDeal:

iDeal is a popular method of online payment in the Netherlands, allowing you to pay for goods using your debit card and e.dentifier card reader.

Loans in the Netherlands:

Loans from banks, such as ABN AMRO, are common in the Netherlands. Credit agencies and credit cards are also options. Loan eligibility is based on factors like age, income, financial assets, and residency status. Comparison websites can help you assess loan options, or you can visit a bank and speak with an advisor.

Credit Cards in the Netherlands:

Credit cards are less common in the Netherlands due to the popularity of iDeal for online payments. Most major Dutch banks offer credit cards if you meet income requirements. Repayment is typically done monthly via direct debit.

SEPA and IBAN:

SEPA (Single Euro Payments Area) is a European Union agreement that standardized euro payments. IBAN (International Bank Account Number) is used to identify bank accounts globally and is part of SEPA.

Opening an Offshore Account:

Several major Dutch banks, as well as smaller ones, offer offshore accounts for those interested in this service.