Opening a bank account

Do I need a bank account?

We use the Euro in the Netherlands and in many other European countries. If you are from a Euro country, you can most likely use your local bank card and account for however long you wish. However, there are still advantages to getting a Dutch bank account (see below). 

What cards are accepted?

MasterCard and Visa are widely but not universally accepted. Most shops are legally required to offer card payments and even many booths at markets will have mobile card readers. Expect to see “Pinnen? Ja graag!” (Pay by card? Yes please!) stickers on many stores. 

Maestro is being phased out, but is still accepted. 

American Express is rarely accepted due to its high transaction fees. 

Which bank should I choose?

There is not one go-to bank as many offer English services and free bank accounts for students. You should consider whether or not you will regularly convert currencies or do international transfers.

Some recommendations:

Name	Available in English	Free Premium for students	Online or physical	Works with iDEAL	Allows multiple currencies	Other Notes
ING*	Yes	Yes, <30 years	Physical	Yes	No
ABN Amro*	Yes	Yes, <30 years	Physical	Yes	No
ASN Bank*	No	Yes, <30 years	Hybrid	Yes	No	Most sustainable bank, 2025
Revolut*	Yes	No, but free option is always available	Online	Sometimes	Yes	Must prove residency annually to continue using account (unless you are Dutch). Online cards cannot be used for public transportation.
Bunq*	Yes	Yes, <26. Free option is always available	Online	Yes	Yes	Can be opened 90 days before getting a BSN

*accepts American citizens

What is IBAN or SEPA?

In Europe, most countries make use of the same banking system, allowing for seamless (and usually free) transfers. 

Each bank account has a unique number called IBAN, which may look like this: NL03 ABNA 1234 5678 90. The first few numbers (and letters) refer to the bank and the last few numbers to the specific account. 

When signing a contract for your accommodation, for example, you will most likely be asked to provide your IBAN to collect the money every month automatically. Businesses can do so with just the number and your signature. You can also give your IBAN to others to get paid.

Tikkie

The Dutch love being cheap and that does not end at the supermarket. When going out with (Dutch) friends or work colleagues, it is not unusual that you will be asked to pay back the 2 EUR for the drink. Instead of having to ask for your IBAN, account number, or PayPal details, the person asking for the money can just create a payment link in their bank app. Anyone with a Dutch bank account can pay using this link. There are no transaction fees and all transfers are instant. This payment link is called a Tikkie. 

When browsing online, you can often check out with Tikkie as well and just select your bank, which will redirect you to a QR code that you can scan and confirm in your banking app. These things only work with Dutch bank accounts (often including Bunq and Revolut or even German N26) – another reason to create an account.

Credit vs Debit cards

Unlike North America, we like to pay with the money we have and not the money we might have. Credit cards are very unpopular and some cards may not even be accepted. When opening a bank account, you will get a debit card by default but have the option to pay a monthly fee for a credit card in case you want to go travel the US.