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Opening a Dutch bank account

Bank Affairs

When you live in the Netherlands for longer than 6 months, it's strongly recommended that you have a current Dutch bank account to manage your day-to-day finances.

The Immigration Service Desk (ISD) will inform Non-EU/EER guests about opening a Dutch bank account. If you have any other questions that are related to your bank account, or if you're not sure if you're going to need a Dutch bank account, you can also direct your question at the ISD.

Do I need a Dutch bank account?

If you are not a  member of an EU/EER country that uses the SEPA (Single Euro Payments Area) system, it is advised that you open a Dutch bank account. If you are an EU/EER student and you are going to be in the Netherlands for longer than six months, it is still advised to get a Dutch bank account, however. SEPA (Single Euro Payment Area) ensures that accounts throughout Europe are accessible in a uniform, simple manner--This is necessary so there will no longer be any differences between domestic and cross-border euro payments in Europe.

Therefore, international bank account numbers (IBAN) must be used for euro accounts throughout Europe.

What  is an IBAN?

IBAN stands for International Bank Account Number. Since February 2014, the IBAN has replaced the 9-digit account number. In the Netherlands, the IBAN is structured as follows:

  • The country code NL

  • 2-digit control number

  • 4 letters that identify the bank

  • 10 digits, which consist of the current account number supplemented with zeros

  • Example of a Dutch IBAN (NL73 INGB 123 456 78 00)


Opening a bank account

Required documents for opening a bank account are a valid passport and an address in the Netherlands (i.e. a rental agreement). Banks also usually request a BSN (social security number, obtained after registering with the municipality in the Netherlands). While banks usually request a BSN, the Ministry of Finance has exempted banks from this obligation in the case of international students. As a result, if you don't have a BSN yet, a bank may accept a declaration from your higher education institution confirming your enrollment. Experience shows that banks are poorly informed of this official exemption, however, the University of Groningen (UG) has an agreement with ING_bank to make sure this exemption is enforced.

In busy periods, such as August and September, the ING only helps students who have an appointment. You can collect an appointment card from the ISD. Non-EU/EEA students will be given priority regarding appointments leading up to the start date of the study programme, as they require a Dutch bank account before they can receive their living money deposit back from the ISD.

Important: students who bring more than (the equivalent of) € 10,000 in cash need to declare this at customs. When opening a bank account, the bank will ask for a copy of your declaration form. If you do not make a declaration, you run the risk of receiving a fine. For more information see the website of the Dutch Customs Administration.


ABN AMRO

Grote Markt 22
9712 HV Groningen
T: 0900-00 24

SNS Bank

Oude Ebbingestraat  66
9712 HM Groningen
T: 0900-18 50

ING

Hereplein 51
9711 GD Groningen
T:0900-09 33

Download the intake form here

(only for bachelor, master and exchange students).

To get an appointment card from the Immigration Service Desk,

please make an appointment here.


After your studies

It is very important to close your Dutch bank account when you have finished your studies and/or will leave the Netherlands.


Paying in the Netherlands

Four basic payment methods are recognised in the Netherlands: cash, PIN, credit card, and bank transfer. PIN and cash payment are the most common methods. A PIN card (in Dutch: pinpas) is connected to your bank account. You can pay by simply entering a four-digit Personal Identification Number (PIN), just as you would at an ATM machine. Payment by credit card is less common in smaller shops and supermarkets. However, restaurants, hotels and department stores generally accept all major cards. The bank transfer can be used when you buy from online stores.


Currency

The currency of the Netherlands is the euro (€). One euro is divided into one hundred cents. Coin denominations – used in the Netherlands -- are 5 cent, 10 cent, 20 cent, 50 cent, 1 euro and 2 euros. Banknotes come in €5, €10, €20, €50, €100, €200 and €500 denominations. Please be aware that, in general, shops do not accept banknotes of €100, €200 and €500.


Foreign exchange

The exchange rate is fixed every day and will be displayed at every foreign exchange office. All banks offer the same rates, but their charges for foreign exchange may vary. The largest foreign exchange specialist in the Netherlands is GWK Travelex with offices located at railway stations, airports, and popular tourist locations.

Laatst gewijzigd:05 juli 2017 13:27