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How To Open A Bank Account In The Netherlands [Complete Process]

Want to know how to open a bank account in Netherlands? then you have found the right article to help you in open a bank account in the Netherlands.
Ketcha Brandon
Open a Bank Account in the Netherlands

Want to know how to open a bank account in Netherlands? then you have found the right article to help you in your search. Wanting to open a bank account in Netherlands implies that you have plans of moving to the country for one reason or the other.

Netherlands is a well developed country in Europe and so it is not surprise that so many people dream of living in the Netherlands, ranging from the physical and care workers who are in search of a decent wage to the creative class who hope for an international career, high-earning expats hoping for a stable employment and business opportunities.

This country boast one of the happiest kids on the planet and as a result, this makes it an appealing nest for families around the globe. Parents with their kids benefits from living in an area where quality education s being provided as well as a region where motorcycling is such an integral part of life.

Netherlands is a country that looks towards the future and they are bent on finding new methods for people to work and have happy lives so if you really want to commit to the Netherlands, then you will have to learn the Dutch language even though its not a call for alarm as most of the Dutch residents can also speak English fluently.

It is fortunate that the Dutch government has been investing heavily in developing and promoting other parts of the nation meaning that aside from Amsterdam there now exist a many more urban destinations that have the spec of the capital without a high living costs or overcrowded, expensive rental market.

So that said, if you are planning to move to Netherlands  to live there or to further your education, you will probably need to setup a bank account to help you better manage your finances. This is why this article is here to guide you.

Table of Contents

Banking System in the Netherlands

Netherlands features among the advanced developed nations in the world and their banking sector is not left behind. The banking system in Netherlands is diverse including 96 national and international banks, as well as about 140 small cooperative banks.

The nation's central bank is referred to as De Nederlandsce Bank which together with the Dutch Authority for Financial Markets, oversees Dutch banking services( AFM).

Types of Bank Accounts in Netherlands

Many banks in Netherlands offer their customers with a checking and savings account. Below are the various types of accounts that you will find in the Netherlands:

  • Checking Account: The usual everyday option is a current account or a checking account. Most of the expats who open a bank account in the Netherlands select a current account, which provides fast access to funds, debit/credit card alternatives, and mobile banking services among other banking services. There exist different current accounts such as basic account, a young person's account, or a student account which are typically offered by banks in Netherlands. 
  • Savings Account - This typed of account in the Netherlands range from rapid access to long term savings accounts, and the holder of this account can make use of it to save for things like vacations or retirement. Various savings products will be offered by each bank.

What Documents Do I Need to Open a Bank Account in the Netherlands ?

Most of the banks in Netherlands do not require a lot of documentation and as a result of this, you should be able to open a bank account just with a passport and a proof of residency in the Netherlands even though some banks will prefer knowing if you have a source of income and if yes, they will want to know where exactly you gain your income from. It is also a good idea to have your burgerservicenummer handy just incase it is being asked.

You need to have the below Documents so as to open a bank account in the Netherlands:

  • A proof of income which can be either your payslips or employment contract

Have in your mind that various banks have different requirements and will often ask for different things such as taking a photo of yourself and sending it when opening an immediate account via mobile the bank's mobile app.

Surely nearly all the banks in Netherlands will demand you to show up with your proof of residency which can be any bill or paper that indicates your address.

In case you are student, then your requirement will be different as you will need just your birth certificate and university registration. Rental agreements or mortgage documents, utility bills and bank or credit card statements issued by the bank.

What to Know Before Opening a Bank Account in Netherlands

Before you jump into the process of opening a bank account in the Netherlands, there are first of all some tips that you have to know and take into consideration so as to avoid some regrets and expenditures in future.

Before opening a bank account in Netherlands, you should be able to withdraw cash from an overseas account via an ATM or geldautomaat. Banks in this country gives money out in a variety of languages and also  accept a variety of debit cards unlike some other banks in other European nations.

Non- Resident accounts are available from some Dutch banks and the a good thing about this is that, it can be opened in advance before you arrive in Netherlands. Another option is you talking to your bank about transferring your account before you relocate incase you are banking with an international bank also operates in Netherlands.

Major credit cards are accepted by several companies especially the larger ones but since the Netherlands have a strongly established debit card (Pinpas) culture, smaller local establishments and even large grocery chains may not accept credit cards.

Immediately you have already arrived the country, you can now drill the many banking possibilities in the Netherlands and then decide whether to keep your present bank account or open an account with a Dutch bank.

Who is Eligible to Open a Bank Account in the Netherlands

 Well, even if you are nit a Netherland's citizen, there is no issue as you can open a bank account in Netherlands if you are already 18 years or more, have a passport, and also a Dutch residence. Your chosen bank will it known to you incase they require any additional criteria before you can open a bank account with them.

So foreign individuals who live, work, study or own a home in the Netherlands are eligible to  open a Dutch bank account and also having a Dutch address is the most simple route. As proof of Residence, some banks accept utility bills while other banks demand an extract from the Dutch Personal Records Database - BRP.

It is often necessary that you present your pay stubs or job contract if you are employed in the Netherlands or your enrollment documents if you are a student.

How to Open  a Bank Account in the Netherlands Online and at a Local Branch

You might be a little surprise to here that in the Netherlands, there is not a standard procedure to open a bank account and as a result of this, each bank makes its own decisions. However, opening a bank account in the Netherlands Online  can take anything ranging from a few minutes to a few days depending on the bank you have chosen.

The process of opening a bank account in the Netherlands varies amongst the " Big 3" Dutch banks, ranging from " a bit inconvenient" to " I have to take a day off work".

Bank A expressly states that you just visit a branch, Bank B demands more documentations than the ordinary bank while Bank C is fast touch and easygoing, online and in English until you arrive the fine print which is in Dutch.

In Netherlands, the traditional system of banking is not rocket science but they are also far from being simple, so if you want a problem free experience, you should consider using an online bank as all you will need to do is to download the bank's app, upload and validate your information and you are ready to go.

How to Open a Bank Account in Netherlands Online

Opening a bank account in the Netherlands online is not that time consuming and document demanding as compared to the traditional system. So if you want to open a bank account in the Netherlands online, you can follow the steps below:

  • Check if the bank that you have chosen, allows you to open a bank account online
  • Choose the type of account that you want to open with the bank
  • You have to complete your application form all also having in mind that even though online, most banks will not allow you to proceed without a Dutch residence. 
  • Upload copies of your documents and ID
  • Once you have done this, all you will have to do is now wait for your confirmation, card, PIN and other necessary documents to arrive by post.
  • Activate your account and online banking

Can I Open a Bank Account in the Netherlands as a Non Resident ?

Even though a non resident, you can still open a bank account in the Netherlands and in this case, numerous banks in Netherlands provide "international" accounts. Another option is for you to employ a local financial institution with a correspondent bank or international branch in the Netherlands.

This will speed up the procedure thereby allowing you to open an account before you arrive Netherlands.

How to Open a Bank Account in the Netherlands at a Local Branch

Opening a bank account in Netherlands at a local branch is quite demanding but it can be the easiest way to open a bank account once you have all the required documents as demanded by your bank. You can follow the steps below in order to open a bank account in the Netherlands at a local branch: 

  • Identify and print the documents required by the bank you have chosen to open an account with 
  • Make and appointment and then show up with your documents to a local bank branch 
  • You will have to answer some questions and also verify your identity with the Clerk 
  • Wait for your confirmation, card, PIN and other necessary documents to arrive by post
  • Activate your account and online banking 

Opening  A Bank Account in Netherlands as a Foreigner

There are some banks in Netherlands that will let you open a non resident  or international account. This gives you the ability to open and manage your account from outside the nation. Banks offer their customers with a wide range of products and services as well as distinct procedures.

Some banks only permit those that plan to migrate to Netherlands to create accounts, while others offer more general worldwide account options.

However, it is of no doubt that most of the major Dutch banks do not allow foreign accounts to be opened online and as a result of this, if you cannot get to a bank branch in the Netherlands, you will have to go to one in your home country incase there is any.

Another option is for you to go to a bank that works as a correspondent bank for a Dutch bank or using an overseas bank that have its branches in the Netherlands or opening a remote access online or mobile account.

Opening a Bank Account in Netherlands with an Online Bank - N26, Revolut , Bunq

It is very convenient to bank with an online bank and you can follow the steps below in order to start enjoying banking with your respective online bank:

  • You have to download the online bank's mobile app
  • Confirm your phone number or email address
  • select the type of account that you want
  • Close up with the registration process
  • Complete the in- app ID verification
  • Create a PIN that you will not forget and the wait for your card to arrive.

Note that while waiting for your card to arrive, your account becomes immediately active so you cam start using it.

Opening a Bank Account in Netherlands as an Expat

Most Dutch banks allow you to open an account either in person at a branch or online through their website and incase you want to open an account at a branch, see if you have to schedule and appointment first.

What Documents do I need to Open a bank account in the Netherlands as an expat

In order to open a bank account in Netherlands as an expat, you will require the following documents:

  • A valid identification plus Dutch residence permit if applicable
  • A citizen service number- BSN, which you will receive when you register with a tax office
  • Proof of address which can be a Dutch bill or your rental contract in the Netherlands.

There are some accounts which when you will want to open, you will be ask to provide proof of income, such as job contract or pay sub. Incase you are opening a joint account, you are going to need papers from both account holders.

Best Banks in Netherlands for Residents, Non Residents and Students

There are many banks in the Netherlands that are ready to offer accounts for every customer regardless of your statue if you are a resident, non resident or student as long as you are 18 years and above and also have the required documents to open a bank account: Below is a list of some of the best banks in the Netherlands.

1. ABN AMRO

This bank is among the best banks in Netherlands and they offer current and savings accounts as well as expat- friendly service with English- language support. Another interesting fact with this bank is that you can open a bank account with them before your arrival in the Netherlands.

If you are an international student, private banker, top sport man or celebrity in the Netherlands, then do not bother yourself as there are customized accounts for you and also a preferred banking status with Luxury offerings for consumers with at least 200,000 euro to invest in addition to mobile and digital banking choices.

2. ING

After this bank took hold of the old post office bank in 1991, ING became the largest retail bank in the Netherlands and it offers residents, children, young people, students and couples with a wide range of savings and current accounts options. For residents, this banking services comes with a cost of 1.55 euros per month.

This bank also have a mobile banking feature in English that allows you to open an account in some few minutes and start enjoying the banking services that they offer.

3. Rabobank

This is another large Dutch retail bank that offers 3 various current accounts which includes; 

  • the Direct pakket - which is a standard current account for 1.55 euros per month
  • The Basis pakket - which includes a credit card option for 2.90 euros per month
  • Totaal Pakket which is a deluxe account with additional features for 4.80 euros per month 

All accounts can be accessed both online and on mobile devices and young people, students, corporations and couples are all able to enjoy the bank's customized packages.

4. SNS Bank

In addition to children and young person's account, student accounts, joint accounts and  regular current account which is available for 2.75 euros, this bank offers their customers with an EU Payment account. Without a Dutch citizen service number, this bank account can be opened from anywhere in the European Union.

International Banks in Netherlands

Another great alternative for you to open a bank account with a Dutch bank is for you to bank with an international bank that is situated in the Netherlands. Below are some of these banks

  • Banks of America
  • NatWest
  • Deutche Bank
  • BNP Paribas
  • HSBC

How Long Does it takes to Open a Bank Account in the Netherlands

As a foreigner, you can easily open mobile only accounts from providers such as N26, by simply making use of their mobile devices. All you have to do is to provide your cellphone number, physical address and email address.

Incase you apply in person, some banks will grant you a Dutch bank account in as soon as 30 minutes if you have all the relevant documents that are required from you. But if you do not have a BSN and a Dutch cell phone or prepaid number, opening a Dutch bank account might take as long as up to 5 working days.

Final Thoughts on How to Open a Bank Account in the Netherlands

This country boast one of the happiest kids on the planet and as a result, this makes it an appealing nest for families around the globe. Parents with their kids benefits from living in an area where quality education s being provided as well as a region where motorcycling is such an integral part of life.

Netherlands is a country that looks towards the future and they are bent on finding new methods for people to work and have happy lives so if you really want to commit to the Netherlands, then you will have to learn the Dutch language even though its not a call for alarm as most of the Dutch residents can also speak English fluently.

In the Netherlands, most banks make it simple to open a business bank account. However, you will be required to show proof of your business's registration in the country. To open a student bank account in the Netherlands, enrollment documents will also be required.

Banking with online banks, on the other hand, offers significant benefits ranging from international transfers to withdrawal costs. You can open a bank account in the Netherlands online with great digital banks like N26 and get started financially in Europe. In addition, your account will receive significant SEPA banking benefits.

Frequently Asked Questions

How much does it cost to open a Dutch bank account?

Here you also need to have a Dutch address to open a bank account, and the procedure requires your visit in person in your local branch. Opening an account here is free, and you pay 2.50 euro monthly maintenance fee. The account comes with a free debit card. Warning: the bank does not operate in English.

Can foreigners open bank account in Netherlands?

Yes. Foreigners with an international passport, EU-passport or any Dutch ID can open a bank account in the Netherlands. You also need a BSN to open the bank account.

Can I open a bank account in the Netherlands without BSN?

For most Dutch banks you need a BSN to open a bank account. However, there are some (online) banks where you can open a Dutch bank account without a BSN, such as N26 and Bunq.

How long it takes to open a bank account in Netherlands?

Opening a bank account in Netherlands takes Approximately 5 working days to receive the debit card

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About the Author

Ketcha Brandon
I am Ketcha Brandon, An article writer, content creator, Video producer, Financial Consultant and a certified Google Publisher. I write content for Cashytransfer.com. Our website provide information on topics such as bank accounts, Money transfers,…

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