Banking in the Netherlands
To receive your salary and pay expenses such as rent and electricity you need to open a bank account. You can go to a bank in person, but the majority of banks in the Netherlands offer services electronically.
We explore in this section
Opening a bank account in the Netherlands
To open a bank account, go to the bank branch in your area, or visit one of the their websites. There are many banks to choose from.
The five major ones are ABN AMRO, Bunq, ING, Rabobank and KNAB (online only).
To open a bank account in person, take the following documents with you:
- proof of identity (passport or identity card)
- official proof of address, such as a tenancy agreement
- personal public service number(burgerservicenummer)
- if you are from a country outside the EU, your residence permit or registration with the Foreign Police (Vreemdelingenpolitie).
bunq - bank of The Free
Open an account in 5 minutes
Skip the branch visits and waiting times. Just download the bunq app and go through a 5 minute verification process. bunq will handle your application and have you banking in minutes!
No paperwork needed
bunq needs some basic info, a photo of your ID or passport and a brief verification video. A visa or residence permit is not required to set up your account. If you're from a non-EU country, a resident permit will suffice.
90 days for TIN
A Dutch bank is legally required to ask for your Tax Identification Number. Whereas most banks ask for this right away, bunq gives you 90 days to get set up.
Get a Local IBAN
You’ll automatically get a NL, DE, FR, ES or IE IBAN depending on where you live. Want to set up a local bank account for a work trip or leisure? Just create a new local bank account as soon as you land in a new country. Great for when you change countries regularly for work.
Easy payments anywhere
Enjoy worldwide acceptance of the bunq Credit card, plus a free digital Credit Card available with any plan. Add it to Apple Pay/Google Pay in seconds and use it right away.
Methods of payment of Dutch banks
In the Netherlands, payment is usually made in cash with euros or by maestro card (pinpas). Most places, including hotels, restaurants and bars also accept credit cards. Recently supermarkets are starting to accept credit cards for private and business customers.
There are plans to replace the maestro card to a debit card in 1 juli 2023. Which will mean that credit cards will be accepted every where then. Cheques are not commonly used in the Netherlands. Banks offer package deals which include a variety of services and means of payment.
Can foreigners open bank account in Netherlands?
Yes, you can open a bank account as a foreigner. You need an international passport, EU-passport or Dutch ID to open a bank account in the Netherlands. You will also need a BSN (Burgerservicenummer) to open the bank account.
Can I open a bank account in Netherlands without BSN?
For all Dutch banks you need a BSN (burgerservicenummer) to open a bank account. Some online banks where you can open a Dutch bank account without a BSN, such as Bunq but you will need to supply this later (90 days).
How much does it cost to open a Dutch bank account?
Most banks charge an annual fee. The fee is dependent on the type of account and the method of payment you choose. Annual costs vary between 10 and 60 euros with less expensive options in place for students. If you would like a credit card with your Dutch account, the bank charges additional costs.
What is iDeal?
iDeal is a online payment method where you use your Dutch debit card. Every major bank in the Netherlands offers this payment method. Most banks offer to pay online with your mobile app. The payment is started in your browser and you confirm the payment in your mobile banking app.
FAQ about Banking in The Netherlands
What is the SEPA?
SEPA means Single Euro Payments Area and is made by the European Union which came into effect on 1/2/2014. It means that there will no longer be any difference between domestic and cross-border euro payments within Europe.
What is my IBAN?
IBAN stands for International Bank Account Number. It is a unique bank account number which allows your bank account number to be identified and understood by all financial institutions worldwide.
Can I open an offshore account with a Dutch bank?
Yes, several major Dutch banks (like ABN AMRO, RABOBANK and ING) but also the smaller banks offer the possibility to open an offshore account.