Bank Account

Banking in The Netherlands

The major Dutch banks are:


Types of bank accounts

  • Current account (lopende rekening)
  • Savings account (spaarrekening)
  • Foreign Currency account (vreemde valuta rekening)


Requirements to open a bank account

  • Proof of identity
    • Passport or ID card
  • Proof of residence
    • Your tenancy agreement
  • Your BSN – Burger Service Nummer
    • Social security number
  • Proof of income
    • Your employment contract
  • Residence permit
    • If you are a citizen from outside the European Union, European Economic Area or Switzerland
  • Back ground and credit history check
    • As a new client you may also be subject to this


**Please note that the banks are constantly updating their rules and regulations of opening a bank account, it is advisable to double check with them before visiting a branch to open a bank account.**


Common types of services offered by banks

  • Debit and credit cards
  • Internet (internetbankieren)
  • Telephone banking (telefonisch bankieren)
  • Investments (beleggingen)
  • Private banking (banking for those who have at least €1m available to invest)
  • Insurance (verzekering)
  • Loans (leningen)
  • Mortgages (hypotheken)
  • Fixed term deposits (lange termijn deposito’s)
  • Life insurance (levensverzekering)


Pin Pas (debit card)

Almost every store, restaurant or service provider in The Netherlands will have a keypad on display where you will be able to pay for your goods or services via your Pin Pas (debit card). You will also be able to withdraw cash from ATMs, please double check your withdrawal allowances, which may vary if you are not withdrawing cash from your own bank.


Contactless Paymentcontactloos-betalen

Nowadays it is possible within the Netherlands to pay by debit card without entering the pin code – contactless payment in The Netherlands is encouraged when paying for smaller payments, again this can be done via the key pad on display. The amount available to pay via contactless payment is no more that €25 and you do not need to insert your Pin Pas directly into the machine, you just need to tap it on the screen of the key pad machine.


Credit Cards
For example in the US or UK using a credit card is a simple transaction and something that is a common occurrence; this is not the case in The Netherlands. A credit card is generally only used in the Netherlands for internet purchases, when travelling abroad or for big ticket items. It is uncommon for a Dutch supermarket to accept credit cards. Your Pin Pas (debit card) is what you will use frequently to pay for your groceries, dining out at restaurants and for your every day incidental costs.

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