How to Open a Bank Account in the Netherlands?: Procedure & Account Type

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open a bank account in the Netherlands

Overview: Open a Bank Account in the Netherlands

The Netherlands is known for having a thriving economy and favorable business environment. Numerous people relocate to the nation regularly, either to work, live, or start a business. But regardless of whether you’re a person seeking a job relocation or a business owner considering starting a new venture, managing your finances is crucial. Therefore, opening a bank account is among the most important things you must do while moving to Dutch.

At OnDemand International, we understand the importance of having a bank account for your business. So, if you register a company in the Netherlands with us, we can also provide you with expert assistance with opening a bank account there. We guide you through the intricacies of choosing the right bank, considering crucial factors such as ATM accessibility, international transfer facilitation, and account maintenance fees.

Through this article, we will be covering the procedure to open a bank account in the Netherlands. Additionally, we will be covering other topics such as the types of bank accounts, the best banks and the documents required to open a corporate bank account in the Netherlands. 

Few terms related to Banking in the Netherlands

SEPA– It stands for Single Euro Payments Area. It neglected any kind of difference between cross-border and domestic euro payments. It came into existence on February 1, 2014, and is led by the European Union.

IBAN- It stands for International Bank Account Number. It is a unique bank account identification number that helps in the easy functioning of your bank processes and is accepted worldwide. 

Now that you are familiar with these terms, the next step should be to check the banks where you can open your bank account.

Types of bank account available in the Netherlands

Joint Bank Accounts

If someone wishes to open a bank account with another person, there is an option to open a joint bank account provided by the Dutch government. You can connect to get the details regarding the opening of a joint bank account in the Netherlands.

Children saving account

There are a lot of similarities between the functioning of a children’s savings account and a regular savings account. Usually, children saving accounts in Dutch have an interest rate of 0.15% per annum. This account does not work with a minimum monthly deposit but has more strict rules as compared to other accounts. The age criteria to have children saving account is between 11-17 years old and is converted to a saving account as soon as the child turns 18 age limit.  

To open a children’s bank account, parent involvement is highly expected. Parents can use the services to should go with their children’s bank accounts. Also to avoid the extra expenditure of money by their ward there is a spending limit set by the bank. As soon as the limit is reached, parents have to approve the bank for further transactions from the account. 

Current account

The Netherlands current account or checking account is the sum of the balance of trade, total income, and total transactions. Individuals who open a bank account in the Netherlands will generally open checking accounts for immediate transactions.  

Savings account

Savings accounts can vary from short-term savings accounts, which are frequently employed for saving for activities like vacations or retirement in the Netherlands, to quick-access savers. Every bank will provide a variety of savings plans.

Types of banks in the Netherlands

In the Netherlands, there are various types of banks catering to different needs and functions.

Some of the main types include:

  • Commercial Banks: In the Netherlands, individuals as well as companies can choose from a variety of financial services provided by commercial banks. They offer investment banking, treasury services, corporate loans, and trade finance, among other services.
  • Savings Banks: Savings accounts, term deposits, and various investment choices meant to assist clients in increasing their savings are the main offerings of savings banks.
  • Cooperative Banks: Members of cooperative banks, who are frequently also the bank’s clients, own and run the institution. In addition to providing a variety of banking services, they frequently place a high priority on social responsibility and community involvement.
  • Online Banks: Since digital banking has become more popular, online banks in the Netherlands provide all banking services through digital platforms; these banks frequently offer savings account interest rates that are higher and fees that are cheaper than those of traditional brick-and-mortar banks.

What are the Biggest Banks in the Netherlands?

biggest banks in the netherlands


It is the largest retail Dutch bank since 1991 after taking over the old Post Office bank. It offers options to opt for different bank accounts and different categories such as children, entrepreneurs, and couples. 

SNS Bank 

Its special feature is that it offers an EU payment option. With the help of it, an individual can open a bank account anywhere in the EU and there is no requirement of a BSN. 


It offers bank accounts of three types- the Direct Pakket, the Basis Pakket, and the Totaal Pakket. To open an account, you can carry both out online and offline processes.  


It offers both the type of account that is savings and current accounts. Internet banking is also available through their services. 

These are a few banks that offer services to open a bank account. But there are certain factors that you need to consider while selecting the bank. Check out these factors below.

How to select a best bank to open a bank account in the Netherlands?

When an individual chooses to open a bank account in the Netherlands, the best way to select a bank is to understand the advantages and disadvantages of the options that are available.

The bank you choose depends on various factors and also on individual circumstances. Below factors are taken into consideration when choosing a bank to open an account in the Netherlands –

  • Costs- The less a bank charges for its fees, the more the chance of banks to get selected by the customer. Fees taken by the bank can be included in any type of format. You can consult Odint Consulting to get more details regarding the costs of various banks. 
  • Services offered by the bank– Banks in the Netherlands offer loan services to their customer. You might want to know more different types of an offer by the banks.
  • Accessibility– Easily availability of the banks, increase the customer base of the banks. Internet banking also increases the number of customers of the bank.
  • English speaking services– Living in Dutch creates a barrier in language. So, banks that offer English-speaking services have a higher customer base.

Now that you have decided the bank, the next step is to know the details and method to open a bank account.

Procedure to open a bank account in the Netherlands

Opening a bank account in the Netherlands is a straightforward process as long as the correct steps are followed. 

Here are the steps that must be followed in order to open a bank account in the Netherlands:


In order to open a bank account in person, follow the steps given below:

  • Select the bank where you wish to open a bank account.
  • Collect the paperwork that the bank requires for opening a bank account.
  • Schedule an appointment and visit a nearby bank office with your paperwork.
  • Respond to some inquiries and have the clerk confirm your identification.
  • Await the postal delivery of your authorization card, PIN, and other required paperwork after the account has been opened.
  • Activate your account and set up digital banking.


In order to open a bank account online, follow the steps given below:

  • Choose a bank, and check to determine if you can create an account online with your bank.
  • Select the kind of account that you would like to create. 
  • Fill out the application and upload copies of the paperwork and identification. Some institutions may request that you initiate video verification although this option is uncommon for traditional banks.
  • Await the postal delivery of your confirmation, card, PIN, and other required paperwork once the account has been opened.
  • Activate your account and set up digital banking.

Documents required for a open a Dutch bank account

You need the following documents to open a bank account in the Netherlands-

  • Your unique Burgerservicenummer or BSN
  • A valid identity card including a passport. Often in this case driving license is not accepted 
  • Address proof
  • Permit of approval of your residency if you are a foreign visitor

Once you have applied for the opening of a bank account either online or offline, you have to wait for your turn to get your account approved.

Internet Banking

In the Netherlands individuals easily organize their financial accounts through an online medium via internet banking. Online medium in the country is safe, secure, user friendly, and convenient to carry out all the forms of transactions that are possible face to face to through offline medium. 

But there is a restriction to use online banking in the Netherlands as the internet banking services are limited to a few places in Dutch.

Later on, to log in to your internet banking account you need your E-Identifier.


The Netherlands is one of the most sought-after locations for businesses and individuals due to its infrastructure development, stable economy, and advantageous commercial location. Individuals and businesses who move to the Netherlands in order to work or open a business must also open a bank account in order to handle their finances. Opening a bank account in the Netherlands makes it easier for both individuals and companies to manage their cash flows and keep track of their daily expenditures and transactions.

If you are looking to open a business in the Netherlands, consult with our experts from OnDemand International. Our experts will help you register a business in the Netherlands and can further provide assistance with opening online bank account in the Netherlands.


Before you open a bank account in the Netherlands, you should keep some cash handy as well or take it out from an ATM because most of the Netherlands markets don’t accept credit or debit cards.

You have two choices to choose from. They are savings bank account and current account.

You cannot open a bank account online and therefore not from sitting Abroad; you need to physically go and verify all the details.

Yes, Netherland banks offer some countries the advantage to open an offshore bank account for business or investment purposes to operate it even from outside the country; however the investor/individual needs to go and physically verify the documents.

When opening a bank account in the Netherlands, you require a BSN number (burgerservicenummer).