Student Mobility / Money / Hate Banking Stress? Choose Revolut

Hate Banking Stress? Choose Revolut

The scenario below may ring true to you. It's all right, all international students in the Netherlands have been there at one point or another. Make sure this never happens to you again by choosing Student Mobility's recommended bank Revolut, the most convenient digital bank out there.

Here's the typical awkward moment that could have been so easily avoided: You’re waiting in line, ready to pay for your groceries, when you’re told that your card is not accepted – after all, it’s not a Maestro. You don’t have cash on you, so you have no choice but to leave everything behind, including that one snack you’ve been craving for days. Though this is an embarrassing scenario to witness, don’t bow your head too much. After all, it won't happen again as soon as you open a Dutch bank account, possibly with Revolut.

Why Revolut

Having a Dutch bank account is useful in more scenarios than the one already mentioned above. Particularly if you’d like to work, your employer will ask for your Dutch IBAN, so they know where to transfer your salary. The Netherlands’ train company NS will also require a Dutch bank account for opening a personal OV-Chipkaart (though, our Student Mobility Card doesn’t, and it’s the best option for international students anyway).

With a Revolut Maestro card all this is possible, in addition to access to the Dutch online payment system “iDeal”, which is always your best and cheapest bet when making payments in the Netherlands. In fact, as for some transactions, iDeal is the only option, opening a Revolut account will carry you through your entire stay, hassle-free.  

However, you may wonder why you shouldn’t just go for one of the “big guys”, like ING or Rabobank. Well, if it’s convenience and easy registration without a physical appointment you’re looking for, then Revolut is definitely your best bet. What’s more is that Student Mobility will be able to offer you free Revolut upgrades or spending credit in the near future. Who doesn’t love that?  

Rather than requiring your BSN (registration citizen service number) right off the bat, you have the option of submitting this later, meaning you can start using your card once you’ve taken a few minutes to register. Opening your bank account is also entirely free, while you can also easily cancel it if you decide to leave the Netherlands again.  

How to open a bank account

Although the registration process is very intuitive, we’ll be walking you through all the steps involved. You can choose between a variety of paid subscriptions, virtual and physical options, as well as a variety of cards, though, as you’re living in the Netherlands, you should opt for the physical Maestro card. Start by downloading the Revolut app on the Apple App Store or Google Play Store or click here, and check below for what you have to do next:  

  1. Choose your preferred card and plan – we recommend the standard, physical Maestro card 
  1. Enter your phone number  
  1. Receive a 6-digit code and enter it in the empty fields 
  1. Enter your first and last name, date of birth and email address  
  1. Create a 4-digit passcode to enter your app  
  1. Disclose whether you’re a citizen of the Netherlands – if no, select your home country from the list  
  1. Take a selfie to verify that you’re a real person  
  1. Upload an identity document, whether passport, driving license or identity card  
  1. Select whether the Netherlands is your sole tax residency – this applies to you if you are registered, work and/or have insurance in the country 
  1. If the former applies, you can enter your BSN (citizen service number) if you already have it, or choose to postpone this step until later on  
  1. Add your first sum of money to your new Maestro card – choose from 0, 10, 20, 50EUR or enter your desired amount  

That’s it, happy shopping! Your new card can now be added to your Apple Wallet or Google Pay. Since you likely selected the physical Maestro option, you’ll just have to pay 7.99EUR to have it delivered to your address. You always have the option of creating more cards as well, in case you’d also like a digital credit card, for example. We hope you've convinced you as to why choosing Revolut, Student Mobility's recommended bank is a life saver.

If you’d like to know more about banking in the Netherlands as a whole, keep an eye on our blog, as we’ll post an in-depth article on this topic in a bit.  

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