Moving to the Netherlands is an exciting adventure, but getting your finances sorted can feel overwhelming. Dutch banking has its own quirks—some wonderful, some frustrating—and navigating it all in a new country (often in a new language) is no small feat.
This guide walks you through everything you need to know about banking as an expat, from opening your first account to understanding the Dutch payment landscape.
Step 1: Get Your BSN (Burgerservicenummer)
Before you can do almost anything financial in the Netherlands, you need a BSN—your citizen service number. This is the Dutch equivalent of a social security number, and banks legally require it to open a full account.
How to get your BSN:
- Register at your local municipality (gemeente) within 5 days of arrival
- You will need your passport, birth certificate, and proof of address (rental contract)
- The BSN is assigned during or shortly after your registration appointment
- Processing times vary—Amsterdam can take weeks to schedule, while smaller cities are often faster
Can you open a bank account without a BSN? Some banks like bunq and Revolut let you open an account before you have your BSN, which is incredibly helpful during those first weeks. However, you will typically need to provide your BSN within 90 days to keep the account active.
Step 2: Choose the Right Bank
The Netherlands has a mix of traditional Dutch banks and newer digital-first options. Here is how they compare for expats:
Traditional Dutch Banks
ING, ABN AMRO, and Rabobank are the "big three." They offer full-service banking with physical branches, Dutch IBAN numbers, and integration with iDEAL (the dominant Dutch payment system). The downside? Their websites and customer service are primarily in Dutch, and the account opening process can be slow and paper-heavy.
ING is generally considered the most expat-friendly of the three, with better English-language support and a solid mobile app. ABN AMRO has improved its English services in recent years, particularly in cities like Amsterdam and Rotterdam.
Digital-First Banks
bunq is a Dutch neobank that is extremely popular with expats. The entire experience is in English, you can open an account from your phone in minutes, and they offer features like automatic savings and sub-accounts. They also provide a Dutch IBAN, which is important for receiving your salary and paying rent.
N26 and Revolut are also popular choices. N26 offers a German IBAN (which works fine for most purposes thanks to SEPA), while Revolut provides a Lithuanian IBAN. Both have excellent apps and zero or low foreign exchange fees, making them great for expats who travel or send money internationally.
Step 3: Understand iDEAL and Dutch Payments
The Netherlands runs on iDEAL—a payment system that lets you pay directly from your bank account. It is used for online shopping, splitting bills, and even paying government fees. Almost every Dutch online store expects iDEAL as the primary payment method.
To use iDEAL, you need a bank account with a participating bank. All Dutch banks support it, and bunq does too. N26 and Revolut do not support iDEAL, which can be a significant inconvenience for daily life.
Tikkie is another essential Dutch app. It is like Venmo but connected to your bank account via iDEAL. Dutch people use Tikkie constantly to split restaurant bills, share costs for group gifts, and even for small business payments. Having a Tikkie-compatible bank account will make your social life much smoother.
Step 4: Consider a Credit Card
Credit cards are much less common in the Netherlands than in the US or UK. Most Dutch people use debit cards for everything. However, as an expat, a credit card can be valuable for international travel, online purchases from non-Dutch websites, and building a payment history.
Check out our credit card comparison for the best options available to expats.
Step 5: Set Up Your Savings
Interest rates in the Netherlands have improved significantly over the past couple of years. After years of near-zero rates, you can now earn 2-3% on savings accounts. Some key things to know:
- All deposits up to EUR 100,000 per person per bank are protected under the EU Deposit Guarantee Scheme
- Interest earned is subject to Dutch tax—but the Netherlands taxes savings based on a deemed return, not actual interest earned
- Both Dutch and EU-based banks are available, often with competitive rates
Compare the latest rates on our savings account comparison page.
Common Mistakes to Avoid
- Waiting too long to open a bank account: Start the process as soon as you have your BSN (or use bunq/Revolut in the meantime)
- Only using a non-Dutch IBAN: Some landlords and employers may have trouble with foreign IBANs, even though SEPA regulations say they should accept them
- Ignoring the 30% ruling impact: If you qualify for the 30% ruling, it affects how your savings are taxed—consult a tax advisor
- Not setting up a savings account: With current rates, leaving money in a zero-interest current account is leaving money on the table
Getting your banking sorted early makes everything else easier—from receiving your salary to paying rent to splitting dinner with new friends. Take it step by step, and you will be navigating Dutch finances like a local in no time.