Dutch Banking Setup 2026: Your First Week as an Expat

This article focuses on the setup sequence: what to open in your first week, what comes after your BSN arrives, and how the timeline works month by month. If you have already sorted your first-week banking and want a head-to-head comparison of which bank suits you long-term, see the full comparison of the 7 best banks for expats instead.

First: Which Type of Expat Are You?

The right bank depends mainly on why you are here and how long you plan to stay. Before comparing products, answer these four questions:

1. Do you have a Dutch BSN yet? If not, look at accounts that do not need one at the start: bunq lets you start without a BSN and add your tax ID within 90 days, and ABN AMRO lets you open an account once you are registered at a Dutch address and provide the BSN within 120 days.

2. How long are you staying?

• Under 6 months (short stay): a digital account may be enough
• 6–24 months (medium stay): a Dutch bank account makes rent, salary and DigiD-linked tasks easier
• Permanent/settling: a full Dutch banking relationship
• Freelancer/ZZP: a business account separate from your personal one

3. Are you American? US citizens in the Netherlands face FBAR and Form 8938 filing obligations, covered below. Ask each bank how it handles US persons before you apply.

4. Do you need to send money internationally every month? If you regularly transfer money between the Netherlands and a home country, compare transfer costs; the fee comparison below shows the difference between a bank tariff and a Wise quote.

Decision Tree by Expat Type

Short-Stay Expat (Under 6 Months)

You are here for a project, a sabbatical or an internship.

Common setup:

• Primary: a digital account you can open quickly, for example bunq (tax ID within 90 days)
• Transfers and other currencies: Wise, which is not a Dutch bank account and does not support iDEAL
• Skip: a traditional Dutch bank account, unless your landlord or employer needs one

Medium-Stay Expat (6–24 Months)

You have a BSN, you are signing a rental contract, and you need a DigiD.

Common setup:

• Primary Dutch bank: ABN AMRO or bunq
• Transfer tool: Wise for transfers abroad, if its quote is lower than your bank’s

Why ABN AMRO for this group: ABN AMRO runs an International Client Desk with advisers who are fluent in English (free appointment). Its BasisPakket Betalen costs €4.30 a month and includes a debit card at €0 (abnamro.nl, checked 30 October 2026).

bunq offers app-based onboarding and lets you add your tax ID within 90 days.

Permanent Settler / Long-Term Resident

You are building a life in the Netherlands and may need a mortgage.

Common setup:

• Primary: a full personal banking package at a Dutch bank such as Rabobank or ABN AMRO
• Investment (if you invest): a separate broker, for example DEGIRO
• Transfer tool: Wise, if its quote is lower than your bank’s
• Savings: ASN Bank or Triodos if ethical banking matters to you

Investing involves risk of loss. This is not investment advice.

Rabobank for this group: Rabobank has the lowest basic package of the three large banks (Rabo Standaard, €3.60 a month) and offers mortgages. If you plan to buy a house, ask lenders early what they need from you.

Freelancer / ZZP Expat

You are self-employed and need to keep business income apart from personal income for VAT and income tax.

Common setup:

• Business account: bunq Business (from €0.00 a month on bunq Free Business, €7.99 on Core) or Knab’s sole-trader account (€7 a month after the first 12 months)
• Personal account: separate from business, for example ABN AMRO or ING
• Transfer tool: Wise for international client payments

Practical point: mixing business and private payments makes your bookkeeping and your tax return harder to support. A separate business account keeps them apart.

Ten Banking Options for Expats — Comparison

1. Wise (Formerly TransferWise)

Wise is not a Dutch bank. For customers in the Netherlands it is Wise Europe SA, an authorised payment institution supervised by the National Bank of Belgium. Wise gives verified customers account details for receiving and sending money, and lets you hold and convert more than 40 currencies at the mid-market rate.

What Wise is not: a bank. It has no overdraft and no mortgage, and it is not an iDEAL issuer. Wise states that its payment services are not subject to the Belgian Deposit Guarantee Scheme. The Wise card works at ATMs: free up to €250 a month, then 2.69%; the card costs €7 one-off for residents of the Netherlands (wise.com, checked 30 October 2026).

Best for: international transfers and holding other currencies alongside a Dutch bank account.

2. Revolut

Revolut operates in the Netherlands through Revolut Bank UAB, which holds a banking licence in Lithuania and is on the iDEAL issuer list. It scores 8.7 in the Consumentenbond Bankenmonitor (survey of September 2025).

Dutch use: on revolut.com Revolut lists five plans for the Netherlands: Standard (free), Plus (€3.99 a month), Premium (€10.99), Metal (€19.99) and Ultra (€65). Banking services are provided by the Dutch branch of Revolut Bank UAB, and Revolut says that customers resident in the Netherlands will now have their accounts migrated to this branch and receive a Dutch IBAN (Revolut Help, checked 30 October 2026). Revolut adds that opening an account or upgrading a plan does not guarantee access to all services in the app (checked 30 October 2026). Check the IBAN shown in the app before relying on it.

Best for: a secondary card for travel and currency spending.

You sign up at revolut.com or in the Revolut app. We have no commercial relationship with Revolut, so we name the site without a link.

3. N26

N26 is a German bank with a full German banking licence from BaFin. N26 Bank SE is on the iDEAL issuer list.

Key features: a free Standard plan with a virtual debit card and 2 free euro ATM withdrawals a month; Smart €4.90, Go €9.90 and Metal €16.90 a month (n26.com, checked 30 October 2026). International transfers are powered by N26’s partner Wise.

Limitation: some Dutch payers or billers may ask for an NL IBAN, although EU rules say your account may not be refused because it is in another EU country.

Best for: expats who want a free digital account.

4. Bunq

bunq is a Dutch digital bank. It offers a Dutch bank account opened in its app, you can use the app in the language of your choice, and bunq is on the iDEAL issuer list.

Plans (checked 30 October 2026, bunq Help: What plans are available):

• bunq Free: €0.00/month — up to 3 bank accounts, each with its own IBAN
• bunq Core: €3.99/month — up to 5 bank accounts with unique IBANs, 1 digital and 1 physical card
• bunq Pro: €9.99/month — up to 25 bank accounts with IBANs, 25 digital cards and 3 physical cards
• bunq Elite: €18.99/month
• bunq Pack: €28.99/month (4x Pro Personal, or 3x Pro Personal plus 1 Pro Business)
• Business plans: Free €0.00, Core €7.99, Pro €13.99, Elite €23.99 per month

Check bunq’s current plans and open an account

Who bunq accepts: bunq states that “All EEA citizens who reside in one of our supported EEA countries can sign up for bunq”, and that you can start your signup from outside the EEA and finish it once you move to a supported EEA country (bunq Help: Who can open a bunq Personal account?, checked 30 October 2026). bunq’s published eligibility page does not state a blanket ban on US persons; what it does say is that it currently “can’t provide stock trading services to nationals of the United States” (bunq Help: Who can use bunq Stocks?, checked 30 October 2026). If you are a US taxpayer, ask bunq directly before you rely on the account — FATCA handling differs per bank and is not covered on the public eligibility page.

BSN: bunq lets you start without a BSN and asks for your tax ID within 90 days.

Best for: expats who want a Dutch bank account in an app.

5. ABN AMRO

ABN AMRO is one of the three large Dutch banks. It runs an International Client Desk with advisers who are fluent in English, with a free appointment.

Monthly fee: €4.30 for the BasisPakket Betalen, including a debit card at €0. The Studenten Pakket costs €0 a month (abnamro.nl, checked 30 October 2026).

Opening: you can open a personal account without a BSN if you have an official Dutch home address; you provide the BSN within 120 days.

Best for: a primary Dutch bank account for expats who want English-language advice.

6. ING

ING is one of the three large Dutch banks and is on the iDEAL issuer list. Its customers withdraw cash at Geldmaat ATMs, the shared network of ABN AMRO, ING and Rabobank since 2019. The ING app is available in Dutch and English (Apple App Store).

Monthly fee: ING Go costs €4.00 a month; ING More costs €7.00, ING Extra €15.99 and ING Max €44.99. Free euro withdrawals are included in all four plans (ing.nl, checked 30 October 2026).

Opening: ING says you can start banking “even before you receive your BSN”. With a passport from outside the EEA, you provide your BSN (at an ING Service Point) and Dutch address within 90 days.

Best for: expats who want an account at one of the three large Dutch banks before their BSN arrives.

7. Rabobank

Rabobank is a cooperative bank.

Monthly fee: €3.60 for Rabo Standaard with a debit card, and a free Rabo Free account for customers aged 18 to 28 (Rabobank tariff overview, July 2026). Withdrawing at a Geldmaat ATM is free of charge.

Best for: expats who want the lowest basic package of the three large banks, or a bank that also offers mortgages.

8. Knab

Knab is an online bank and a trade name of the Austrian bank BAWAG. It targets independent professionals and self-employed people.

Monthly fee: €6 a month for a personal account with one holder, €7 for a joint account, and €7 for the sole-trader business account; Knab currently offers the first 12 months of all three free (knab.nl, checked 30 October 2026).

Best for: ZZP expats who want a Dutch business account.

9. ASN Bank

ASN Bank is a sustainability-focused Dutch bank, part of de Volksbank. Since 1 July 2025 SNS, RegioBank and BLG Wonen continue together as ASN Bank.

Monthly fee: €4.00 per account per calendar month (ASN tariff overview from 1 July 2026, checked 30 October 2026). ASN supports Apple Pay and Google Pay.

Customer satisfaction: ASN scores 8.9 in the Consumentenbond Bankenmonitor (survey of September 2025), the highest of the banks in this list that the monitor rates.

Best for: long-term residents who want sustainable banking.

10. Triodos Bank

Triodos is a Dutch bank with a mission-driven model: it says it only finances companies and projects with a positive impact.

Monthly fee: €5 a month from age 26, €3.50 from 23 to 25 and nothing from 18 to 22 (triodos.nl, checked 30 October 2026). Triodos supports Apple Pay and Google Pay.

Best for: residents who want to move their money into an ethical bank; check how much of its service is available in English.

Comparison Table

Sources: the banks’ own tariff and help pages and the iDEAL issuer list (ideal.nl), checked 30 October 2026, including ing.nl and revolut.com; Bankenmonitor scores from the Consumentenbond survey of September 2025.

The BSN Problem — And How to Solve It

The BSN (burgerservicenummer, the Dutch citizen service number) is a common early hurdle for new arrivals. You need it for, among other things:

• Getting a DigiD (digital ID for government services)
• Filing Dutch tax returns
• Starting employment

How long does a BSN take? You receive your BSN once your registration at the gemeente (municipality) is processed; ask your municipality how long that takes.

The gap strategy:

1. Before registration → open an account that does not need a BSN at the start, for example bunq (tax ID within 90 days). A Wise account can receive and convert money, but it is not a Dutch bank account.
2. Municipality appointment → register your address and receive your BSN
3. Registered at a Dutch address → ABN AMRO lets you open an account and provide the BSN within 120 days
4. Transition → move recurring payments (salary, rent, utilities) to your Dutch account; keep Wise for transfers abroad if its quote is lower

Real Fee Comparison: What Banking Costs

Here is what each option costs in three common scenarios, using the providers’ published tariffs and Wise’s own price calculator on 30 October 2026.

Scenario A: €100 ATM Withdrawal in Spain

You are travelling in a euro country and need €100 in cash.

Verdict: within these limits, none of these three charges a fee for withdrawing euros in another euro country. The ATM itself can still add a charge: ABN AMRO notes that the foreign bank may charge other costs.

Scenario B: €1,000 Transfer from the Netherlands to the US (EUR to USD)

You are sending money home: paying US student loans, supporting family or topping up a US account.

Verdict: in this example Wise costs about €11 to €12 less than ABN AMRO per €1,000, or about €135 to €142 a year if you send €1,000 every month. Check both quotes before each transfer; rates change.

Scenario C: Yearly Banking Cost for a Medium-Stay Expat

A salaried expat who sends €500 a month from EUR to USD, excluding ATM costs:

Verdict: in this example a Dutch bank account paired with Wise for transfers costs about €94 to €98 a year, against about €211 when the same transfers go through ABN AMRO. A Wise-only set-up is cheaper still, but it has no iDEAL and no Dutch bank account.

Common Banking Mistakes Expats Make

Mistake 1: Using Your Home Country Bank for Dutch Transactions

A home-country card can cost conversion fees on every payment, and it does not give you iDEAL. Open a Dutch account, or at least an account with an iDEAL issuer, once you can. Bunq lets you start without a BSN and add your tax ID within 90 days.

Mistake 2: Sending International Transfers Without Comparing

ABN AMRO charges €9 and Rabobank €8 per online transfer outside SEPA, plus an exchange-rate margin (ABN AMRO: 0.85% on USD). Wise converts at the mid-market rate and shows its fee before you send. Compare both quotes before a transfer.

Mistake 3: Waiting for the Perfect Account Before Receiving Salary

Your employer can pay your salary into an account elsewhere in the EU: under EU rules your account may not be refused because it is in another EU country. Give your employer a working account from your first payday, and switch to a Dutch account later if you want to.

Mistake 4: Ignoring the Dutch Tax Obligation on Foreign Accounts

If you are a Dutch tax resident, your foreign bank accounts count towards box 3 in your tax return. Below the €59,357 allowance per person there is usually no box 3 tax to pay.

Mistake 5: Assuming Joint Accounts Work Like Back Home

Ask your bank how its joint accounts work before you open one, including who can act alone. Knab, for example, charges €7 a month for a joint account (the first 12 months are currently free).

Mistake 6: Not Checking If Your Employer Accepts Your IBAN

Check with your employer’s payroll before your first salary. A non-Dutch EU IBAN may not be refused under EU rules, but confirming in advance avoids a missed payment.

Tax Implications for Expats

Box 3 Wealth Tax

If you are a Dutch tax resident, all your bank balances — Dutch and foreign — are included in the box 3 calculation. The 2026 figures:

• Tax-free allowance: €59,357 per person (€118,714 for fiscal partners)
• Deemed return rate on bank balances: 1.28% (provisional until early 2027)
• Deemed return rate on investments: 6.00%
• Box 3 tax rate: 36%

Below the tax-free allowance you pay no box 3 tax. Above it, the deemed return on investments is higher than on bank balances.

The 30% Ruling and Banking

The partial non-resident status (partieel buitenlandse belastingplicht) that excluded foreign bank accounts and investments from Box 3 for 30% ruling holders was abolished per 1 January 2025 — you can no longer opt for it from the 2025 tax return onwards. Only one group is left: if you were already using the ruling before 2024, you may still elect it up to and including your 2026 return, filed in spring 2027. If your ruling started in 2024 or later, savings held in your home country count in Box 3 like any other resident’s, taxed at 36% on the deemed return in 2026.

Action: Discuss this election with a Dutch tax advisor before your first Dutch tax filing. The choice must be made on the annual return and affects all Box 3 assets.

American Expats — FBAR and FATCA

US citizens in the Netherlands face additional US reporting obligations, which apply to US persons living abroad as well:

• FBAR (FinCEN 114): required if the combined value of your foreign accounts exceeds $10,000 at any time during the calendar year. Check with a US tax adviser which of your accounts count.
• Form 8938: for US taxpayers living abroad, required above $200,000 on the last day of the year or more than $300,000 at any time ($400,000 and $600,000 for married filing jointly).
• Penalties: for a non-willful FBAR violation up to $10,000; for a willful one up to the greater of $100,000 or 50% of the balance (the IRS’s base amounts; the civil maximums are adjusted annually for inflation).

Banks and US persons: for bunq, the published eligibility page keys on EEA residence rather than nationality and does not state a US ban; bunq does say it currently cannot provide stock trading services to nationals of the United States. For other banks, ask about FATCA documentation before you apply, and confirm your own situation with the bank in writing before relying on it.

Year-by-Year Banking Strategy

Month 1 (Pre-BSN)

1. Open an account that does not need a BSN at the start, for example bunq (tax ID within 90 days).
2. Open a Wise account if you send money abroad; it is not a Dutch bank account.
3. Register at the gemeente and receive your BSN once the registration is processed.

Cost this month: €0 on free plans (bunq Free, Wise)

Month 2–3 (Post-BSN)

1. Open your main Dutch bank account, for example ABN AMRO or bunq.
2. Set up DigiD — this requires your BSN; the activation code arrives by post within a maximum of 5 working days.
3. Move salary and direct debits to your Dutch account.
4. Keep Wise for transfers abroad if its quote is lower.
5. Review your home-country account and close it if you no longer need it.

Cost per month: from €0 (bunq Free) to €4.30 (ABN AMRO BasisPakket Betalen) for the Dutch account

Month 6 (First Tax Year Approaching)

1. Declare all foreign accounts in your annual Dutch tax return.
2. Check your box 3 position — and only count on the partial non-resident election if you were already using the 30% ruling before 2024, in which case it runs through the 2026 return.
3. US expats: the FBAR is due by 15 April, with an automatic extension to 15 October.
4. Review transfer costs — if you send money home monthly, add up what you paid and compare quotes.

Year 2–3 (Settling In)

1. Review your Dutch bank plan if you need extra cards or insurance.
2. Consider whether you want a separate investment account; brokers include DEGIRO; US persons can check with Interactive Brokers whether it accepts them. Investing involves risk of loss. This is not investment advice.
3. Planning to buy property? Ask lenders early what they need from you.

Year 5+ (Permanent Resident Path)

1. Review whether you still need fintechs — if you rarely send money abroad, a Dutch bank account may be all you need; if you do, keep comparing a Wise quote with your bank’s.
2. Consider ethical banking — if sustainability matters, ASN Bank or Triodos.
3. Estate planning — joint accounts, inheritance (erfrecht) and digital assets all have Dutch legal implications. Consider a notary consultation.

Frequently Asked Questions

Can I open a Dutch bank account without a BSN? Yes, at some banks. ABN AMRO lets you open a personal account without a BSN if you have an official Dutch home address; you provide the BSN within 120 days. Bunq lets you start without a BSN and add your tax ID within 90 days.

Which bank is best for expats who just arrived? Before your BSN arrives: bunq, or ABN AMRO once you are registered at a Dutch address. For transfers abroad, add Wise, which is not a Dutch bank account.

Does Revolut work in the Netherlands? Revolut Bank UAB is on the iDEAL issuer list, so iDEAL payments work. Check its current Dutch plans and the IBAN shown in the app before relying on it as your main account.

Is a Dutch bank account required to rent an apartment? Not by law. Landlords usually collect rent by SEPA transfer or direct debit, and an account elsewhere in the EU may not be refused because of its country. Some landlords still ask for an NL IBAN, so check with the landlord or agent.

Do I need to declare my foreign bank accounts? Yes. Box 3 reporting applies to Dutch tax residents. US citizens also face FBAR obligations.

What is the cheapest way to send money to the US? Compare quotes. On 30 October 2026 Wise showed €5.69 to €6.21 on €1,000 to USD, against about €17.50 at ABN AMRO (€9 plus a 0.85% margin).

What is the monthly fee for Dutch banks in 2026? ABN AMRO €4.30 (BasisPakket Betalen), Rabobank €3.60 (Rabo Standaard), ASN Bank €4.00, Triodos €5 from age 26, Knab €6, bunq from €0 (bunq Free) with paid plans from €3.99. Wise and N26 Standard: €0. ING from €4.00 (ING Go).

Which bank has the best English customer service? ABN AMRO runs an International Client Desk with English-speaking advisers, and bunq lets you use its app in the language of your choice.

Can freelancers and ZZP expats open a business bank account? Yes. bunq’s business plans run from bunq Free €0.00 to Core €7.99, Pro €13.99 and Elite €23.99 a month, and Knab’s sole-trader account costs €7 a month after the first 12 months (checked 30 October 2026). You typically need a KVK registration first.

The Editorial Recommendation in 30 Seconds

If you are reading this the week before you move to the Netherlands:

1. Open an account that does not need a BSN at the start, such as bunq, and a Wise account if you send money abroad
2. On arrival, register at your gemeente — your BSN follows once the registration is processed
3. Open your main Dutch account, for example bunq or ABN AMRO, for daily life
4. Compare transfer quotes before each international transfer
5. Declare all accounts in your tax return — Dutch and foreign

With free plans (bunq Free, Wise, N26 Standard) the monthly fee can be €0; a Dutch bank package such as ABN AMRO’s costs €4.30 a month.

Open your Wise account before you fly →

Related articles

• Best Bank in the Netherlands 2026 for Expats (English Guide)
• Best Finance Apps for Expats in Netherlands 2026
• Crypto Tax Netherlands 2026: Expat Guide
• DEGIRO Review for Expats in Netherlands 2026
• Best Ways to Transfer Money to/from the Netherlands 2026

External source: Belastingdienst — box 3 calculation 2026 — independent information on this topic.