Bank Account

All newcomers who set up their new lives in the Netherlands need to open a bank account for regular daily life, receive a monthly salary, and pay monthly living costs such as rent, insurance, buying online, in-market, or groceries—in one word, for everything in modern, high-industrial, and digital life. 

Banks in the Netherlands

All banks have the same services and facilities for private and business activities but different monthly or annual service charges.

Main banks in the Netherlands

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

Digital / Mobile banks

  • Bunq, Knab and Revolut

How to open a Dutch bank account

To open a private bank account, you must make an appointment online or bring all your details to your nearest branch.

Documents for a Dutch bank account

To open a bank account, you will need the following:

  • Your BSN number (Burgerservicenummer)
  • A valid form of ID (passport or identity card )
  • Proof of address (i.e., a rental contract)
  • Residency permit if you come from outside of the EU

Once all the details have been processed, you must wait until your account is approved and your card is sent.

Banking for businesses in the Netherlands

If you have started a business and want to open a Dutch bank account, the process is essentially the same as opening a private account. In addition to the above personal details, you should have all the necessary information concerning your business, such as your KvK number and a turnover record. Most banks have different business accounts depending on your company’s turnover.

Internet banking in the Netherlands

It is becoming increasingly common for Dutch and expats in the Netherlands to organize their financial affairs online via Internet banking. Internet banking in the Netherlands is convenient and secure and allows you to make almost all transactions in person.

E.dentifier card readers

To log in to your Internet banking, you will need to get a hold of an e.dentifier. The e.dentifier is a card reader that will help you safely log in and complete any transactions you wish to make. Note that every Dutch bank has its own card reader. If you request access to Internet banking when you open a bank account, you will probably be provided with your e-dentifier when your account is verified. Sometimes, your bank may use your mobile phone number to communicate further codes, ensuring absolute security. Also, if you have a smartphone, you can perform many different transactions using an Internet banking program on your phone.

What is ideal?

iDeal is a method of paying online using your debit card rather than your credit card. You use your e.dentifier and your PIN code to pay for goods. 

Loans in the Netherlands

Bank loans are the most common method of lending money. However, there are several credit agencies, and if the amount you need to borrow is not too large, you can always use a credit card. How much you receive (or even if you are granted the loan) depends on factors such as age, financial assets, income, and residency status. There are several comparison websites that you can use to assess your options when it comes to taking out a loan in the Netherlands. Alternatively, you can walk into your bank and speak with an advisor.

Credit cards in the Netherlands

Credit cards are not widely used in the Netherlands, mainly due to the popularity of the online debit card payment system iDeal. However, it is possible to obtain one. Most central Dutch banks, such as ABN AMRO, can offer you a credit card as long as you earn a minimum net monthly income, which can be proven through an employment contract. The net amounts required differ from bank to bank. Cards with different limits can be offered depending on your net monthly income and whether you study in the Netherlands. In the Netherlands, credit card debt is commonly repaid monthly via direct debit from your regular account. If you want to delay a payment more extended than this, you may be subject to a much higher interest rate. Getting a credit card from an international supplier such as American Express is also possible.

What is the SEPA?

SEPA stands for Single Euro Payments Area and is an agreement made by the European Union that came into effect on February 1, 2014. This means that there will no longer be any difference between domestic and cross-border euro payments in Europe. Ultimately, you or your business will use your IBAN rather than your standard account number.

What is my IBAN?

IBAN stands for International Bank Account Number. It is a unique number that allows your bank account number to be identified and understood by all financial institutions worldwide. 

If you need help or prefer to have advice before opening a private or business account or need help applying for credit cards or loans, simply make an online or physical appointment with one of our advisors.
You can book an appointment via this link: https://123nlbv.simplybook.it/v2/
You can also send a message via WhatsApp to this number: 06–19952004 or visit our office in Hurksestraat 60 in EINDHOVEN.