Banking in the Netherlands
How can I open a bank account?
What are the requirements to open up a bank account?
What are the accounts and services offered by banks?
How does a current account operate?
How do I use my bank PIN card?
What if I want to use my PIN card abroad?
What if I have lost my bank card or had it stolen?
What is a contactless payment?
Are contactless payments secure?
Are credit cards given by banks to all customers?
How easy is it to pay using my credit card in the Netherlands?
What is internetbankieren (internet banking) and how to use it?
How can I access my bank details using mobile devices?
What is the currency in the Netherlands?
Since January 2002, the monetary currency of the Netherlands has been the ‘euro’. Countries which have joined the European Economic and Monetary Union (EMU) and have chosen to participate in the Exchange Rate Mechanism (ERM) use the euro (€) as their common currency and sole legal tender. The Eurozone countries share the same euro bank notes and coins.
There are seven bank note denominations (5, 10, 20, 50, 100, 200 and 500 euros) and eight coins denominations (1 and 2 euros and 1, 2, 5, 10, 20 and 50 euro-cents).
In the Netherlands, very few establishments will accept the 500 euro note and most small shops including supermarkets will not accept 100 and 200 euro notes either.
Whilst the 1 and 2 euro-cent coins were originally introduced in order to ensure that the introduction of the euro was not used as an excuse by retailers to round up prices, these coins are no longer in circulation in the Netherlands. This is due to the cost of producing the low value coins. Here in the Netherlands, if you are paying by cash the price will be rounded off to the nearest five cents. However, these coins are still legal tender (as they are still used in other Eurozone countries), and thus you are entitled to use them.