ACCESS NL > Relocating to the Netherlands > First three months > Banking > How does a current account operate?


What is the currency in the Netherlands?

Can you explain the numbering conventions used 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?

The betaalrekening (current account) is used for day-to-day banking activities, such as depositing or withdrawing money. Your salary is normally paid by your employer via electronic transfer into your current account. You can also use this account for paying for goods and services by direct debit or bank transfer. You normally do not earn any interest on a current account; however, most banks will charge a fee for its administration.

The current account operates from the day it is opened. After opening a current account, the bank will normally provide you with a debit card (PIN card) and an electronic identifier for use with secure internetbankieren (internet banking).

When your debit card is ready for collection, the bank will either send it to you by post or notify you when it is ready.  For the latter, you will have to go to the banking personnel, presenting your passport or other acceptable identification document. Your PIN (Personal Identification Number) code will be sent to you separately by post. This is a personal four-digit number needed to access your bank account using the electronic identifier for internet banking, to check your balance and withdraw cash from a pinautomaat (bank cash machine or ATM) or to pay using your card for goods and services in shops and restaurants. The bank will expect you to memorise your PIN number, which must not be divulged to any other person. If you find it hard to remember your PIN number, you can change it at your bank’s cash machine.

How do I use my PIN card?

What if I want to use my PIN card abroad?

What if I have lost my PIN card or had it stolen?

What is IBAN?

What is PSD2?

How to exchange foreign money in the Netherlands?

Can I pay in a shop by using my mobile phone?

How can I access my bank details using mobile devices?

How easy is it to pay using my credit card in the Netherlands?

What is internetbankieren (internet banking) and how to use it?

What is an acceptgiro?

What is iDeal?

Can I directly invest money in the stock exchange?

What types of loans are available?

What is a contactless payment?

Are contactless payments secure?

Are credit cards issued by banks to all customers?

Can I open a bank account without having a Burgerservice nummer (BSN)?

How can I avoid scams?