The ins and outs of opening a Dutch bank account.

As debit cards are the Netherlands' preferred payment method, opening a Dutch bank account will be handy in various scenarios.

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Why a Dutch bank account?

From the moment you arrive in the Netherlands, your home country’s bank account may not be sufficient in every situation. For example, most supermarkets only accept payments by debit card or cash. Since the so-called ‘pinpas’, or debit card, is most commonly used in the Netherlands, opening a Dutch bank account might be useful or even necessary for some things.

We have listed a few scenarios below where a Dutch bank account is necessary:

Working in the Netherlands - you will need to pay for your health insurance via your Dutch bank account
Automatic monthly payments of your tuition fee
A mobile phone subscription to fulfill monthly payments
To receive Student Finance
To get your immigration deposit reimbursed
To make online payments via IDEAL

How to open a bank account?

If you want to open a Dutch bank account, you can do so either prior or after your arrival in the Netherlands, often online or in a physical office. While banks differ on which documents they will need for registration, it is a good idea to have the following on hand:

ID (ideally a passport)
Citizen service number (BSN)
Residence permit
Tenancy agreement

What are the options?

As an international student, you can choose to open a Dutch bank account with several banks. While these banks are not significantly different from each other, they do have their own pros and cons. Some banks offer special package accounts for (international) students in order to fulfill their unique needs.

Dutch banks include: Bunq, ABN AMRO, ING, Rabobank, SNS bank, and Triodos. Below, we have included our recommendation and briefly compared four different banks that we believe are most relevant for international students based on their annual fee, special packages and ease of registration.

BUNQ (Free student account)

This app-based online-bank will help you save both time and the environment. After all, paying using your phone's virtual wallet is quick and convenient. The easiest onboarding of all!

Benefits:

On-boarding completely online and very quick;
Perfectly compatible with iDEAL;
Several subscription options in case you require more features;
A Dutch citizen service number (BSN) is not necessary while registering online;
Option of setting up a savings account and getting various insurances at a discount;
Easy access to navigate different kinds of expenses.

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ABN AMRO (Free)

This is one of the largest banks in the Netherlands. Big pro? All information and communication is in English (the only Dutch bank offering this service).

Benefits:

They offer a special student package;
Free of charge including mobile and online banking;
Easy to make a physical appointment via the English online tool;
Offices where staff is available in person;
Option of setting up a savings account and getting various insurances at a discount.

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ING (Free)

This multinational Dutch bank is another international-friendly option, since receiving your debit card is made efficient and easy.

Benefits:

They offer a special student package;
Free of charge including mobile and online banking;
A Dutch citizen service number (BSN) is not necessary while registering online;
Offices where staff is available in person;
Option of setting up a savings account and getting various insurances at a discount.

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REVOLUT

In our opinion, Revolut is the best online (digital only) bank account in Europe. While you have the option to upgrade later, the standard plan guarantees you an EU IBAN number, which will also allow you to pay with the Netherlands' most used online payment method, "iDeal".

Benefits:

Free online account;
A Dutch citizen service number (BSN) is not necessary while registering online;
Using the account for merchants with iDEAL is supported;
Option of having a savings account, rewards for paying at certain stores, and exchange your currency at the real exchange rate.

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Frequently Asked Questions

What is IDEAL?

iDEAL is a secure online payment system widely used for transactions, liked directly to Dutch bank accounts. It a fast, reliable, and accepted by most businesses and e-commerce platforms convenient solution. You scan the QR code, accept the payment, and ready to go!

Is my European bank account sufficient in the Netherlands?

The Netherlands, once a Maestro-dominated country, now widely accepts both Visa and Mastercard. For convenience, iDEAL remains essential for daily banking, so we recommend setting up an additional bank account for your stay in the Netherlands.

Is cash widely accepted?

Currently, in bunch of stores you will see PIN ONLY, which means that only cashless payments are accepted. Keep that in mind when withdrawing a big amount of money before your arrival!

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