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Dutch bank account: What? Where? How?
Dutch bank account: What? Where? How?

Have you relocated to the Netherlands? You may want to open a Dutch bank account.

If you are working in the Netherlands, you can choose to have your salary or invoice payment transferred to your foreign bank account. However, you may prefer to open a Dutch bank account to avoid currency conversion or bank withdrawal costs. Here is some useful information that can help you get started opening a bank account in the Netherlands.

What do I need to open a bank account in The Netherlands?

The requirements for opening a bank account in the Netherlands differ per bank and per type of bank account that you wish to open.

You may be required to provide:

  • An ID or passport
  • a BSN (Dutch citizen service number)
  • an Employment Contract or Proof of income
  • a rental contract

It is wise to check with your bank of choice what the specific requirements are.

Where do I open a bank account in The Netherlands?

The Netherlands has a large selection of both online and retail banks.

Online banks generally provide a quick and accessible way of opening a bank account in the Netherlands. Usually online banks would require only a valid ID / passport for opening an account.

Retail banks will normally require you to visit a branch in person to open your bank account.

Examples of online banks are:

BUNQ: https://www.bunq.com/en/

ASN: https://www.asnbank.nl/

KNAB: https://www.knab.nl/

Examples of retail banks in the Netherlands are:

ABN AMRO: https://www.abnamro.nl/en/personal/index.html

Or contact the International Clients Desk: https://www.abnamro.nl/en/personal/specially-for/expats/international-clients-desk.html

ING: https://www.ing.nl/particulier/english/index.html

Rabobank: https://www.rabobank.nl/particulieren/ (English language is unfortunately not available)

You may expect monthly costs for your Dutch bank account, depending on the type of account and products or services you have selected.

How does a Dutch bank account work?

Once you have opened your Dutch bank account, you will receive an IBAN (International Bank Account Number) in your name, facilitating smooth international transactions between bank accounts and banks in different countries. Your bank will also have its own BIC identifier code, please make sure you are familiar with both of these.

Depending on your choice of bank and products, you may receive a local debit card, a credit card, and access to a mobile banking app or website.

You can use your debit card for cash withdrawals and payments. Contactless payment is also available in the Netherlands, both through your chipped debit/credit card and mobile banking app.

Posted on dinsdag 12 mei 2020
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