Best Ways to Transfer Money to/from the Netherlands 2026

I still wince thinking about the first time I transferred money from my British account to the Netherlands through my traditional bank. The fees and exchange rate markup cost me over a hundred euros on a single transfer. Ten years later, I have tried every major transfer service on the market and helped hundreds of expat clients stop overpaying for something that should be simple. Here is my comparison of the best ways to move money to and from the Netherlands in 2026.

Quick Comparison Table

Understanding the True Cost of a Transfer

Before comparing individual services, you need to understand how international transfer pricing works. The advertised fee is only part of the cost.

The Two Components of Transfer Cost

1. The transfer fee: A flat or percentage-based charge for processing the transfer
2. The exchange rate markup: The difference between the rate the service gives you and the actual mid-market exchange rate

Many banks and services advertise “low fees” or “free transfers” while making their profit by offering you a poor exchange rate. A bank might charge EUR 5 to send money but give you an exchange rate that is 2-3% worse than the mid-market rate. On a EUR 5,000 transfer, that 2-3% markup costs you EUR 100-150, far more than the visible fee.

How to Calculate the Real Cost

Always check the total cost of a transfer:

1. Look up the current mid-market exchange rate on Google or XE.com
2. Calculate what you would receive at that rate
3. Compare this to what the transfer service quotes you will receive
4. The difference is the total cost (fee plus exchange rate markup)

Example: Sending EUR 5,000 to the US

Rates are illustrative. Always check current rates at the time of your transfer.

The difference is stark. A traditional bank transfer in this example costs roughly 25 times more than Wise.

Wise: Best Overall for International Transfers

Wise (formerly TransferWise) has become the default recommendation for international money transfers, and for good reason.

How Wise Works

Wise uses the real mid-market exchange rate and charges a small, transparent fee that varies by currency pair and transfer amount. For most major currencies, the fee is between 0.3% and 0.6% of the transfer amount.

Unlike traditional banks, Wise does not add a markup to the exchange rate. The rate you see on Google is the rate you get on Wise.

Key Features for Expats in the Netherlands

• Multi-currency account: Hold and convert over 50 currencies in one account
• Dutch IBAN: Receive EUR payments with a Belgian/European IBAN (accepted by most Dutch institutions)
• Debit card: Spend in any currency at the mid-market rate
• Scheduled transfers: Set up recurring transfers (e.g., monthly payments to your home country)
• Instant transfers: Between Wise accounts
• Business account: Available for freelancers and business owners

Pricing

Fees vary by currency corridor. EUR to GBP and EUR to USD are among the cheapest routes.

Pros

• Mid-market exchange rate with no hidden markup
• Transparent, upfront fee shown before you confirm
• Fast transfers (1-2 business days for most routes)
• Multi-currency account replaces the need for multiple bank accounts
• Scheduled recurring transfers
• Regulated and authorized in multiple jurisdictions

Cons

• Not a full bank (no mortgage, no credit products)
• IBAN is Belgian, not Dutch (some institutions may not accept it, though this is rare)
• Transfer limits apply (can be increased with additional verification)
• Customer support can be slow during peak periods

Verdict

Wise is our top recommendation for expats in the Netherlands. Whether you are sending money home monthly, receiving payments from abroad, or simply need a multi-currency account, Wise delivers the best combination of cost, speed, and convenience.

Open a Wise account here – it is free to create an account.

Open Your Free Wise Account →

Revolut: Best for Everyday International Banking

Revolut has evolved from a travel card into a full-featured financial app used by millions across Europe.

How Revolut Works

Revolut offers a multi-currency account with currency exchange at the mid-market rate, up to a monthly limit that depends on your plan. Beyond that limit, a small markup (typically 0.5%) applies. Weekend exchange rates include a markup to account for market closure.

Key Features for Expats in the Netherlands

• Multi-currency account: Hold over 30 currencies
• Free currency exchange: Up to EUR 1,000 per month on the Standard plan (higher on paid plans)
• Physical and virtual cards: Spend in any currency
• Budgeting tools: Categorize spending, set budgets, track finances
• Crypto and stock trading: Available within the app
• Insurance products: Travel and device insurance on paid plans
• Instant transfers: To other Revolut users

Pricing (Plans)

Pros

• Feature-rich app beyond just transfers
• Free currency exchange up to monthly limit
• Instant transfers between Revolut users
• Physical card works globally with excellent rates
• Budgeting and analytics tools
• Available as a full bank in some European countries

Cons

• Exchange rate markup on weekends (0.5-1%)
• Free exchange limit is low on the Standard plan
• Transfer fees apply beyond the free allowance on basic plans
• Not ideal for very large one-off transfers
• Customer support has been criticized by some users

Verdict

Revolut is an excellent complement to Wise. Use it for everyday spending in multiple currencies, small transfers, and budgeting. For large international transfers, Wise typically offers better value.

OFX: Best for Large Transfers

OFX (formerly OzForex) specializes in large international transfers and offers competitive rates for amounts above EUR 10,000.

How OFX Works

OFX charges no transfer fee and makes its money on a small exchange rate markup. The markup is typically smaller than banks and decreases as your transfer amount increases. For very large transfers, you can negotiate a rate with an OFX dealer.

Key Features

• No transfer fees: The cost is built into the exchange rate
• Competitive rates for large amounts: Markup decreases as transfer size increases
• Personal dealer: For transfers over EUR 50,000, you can negotiate rates with a dedicated dealer
• Forward contracts: Lock in an exchange rate for a future transfer (useful if you are buying property or making planned payments)
• Recurring transfers: Set up scheduled regular payments

Pricing

Pros

• No transfer fees
• Competitive rates for large amounts
• Forward contracts and limit orders available
• Personal dealers for high-value transfers
• Well-established and regulated

Cons

• Less competitive for small transfers (under EUR 2,000)
• No multi-currency account or debit card
• Interface is less modern than Wise or Revolut
• Minimum transfer amounts may apply

Verdict

OFX is the best choice when you need to transfer large sums, such as proceeds from selling a property, inheritance, or large investments. For amounts over EUR 10,000, compare OFX’s total cost against Wise; OFX often wins at higher amounts.

Remitly: Best for Speed to Specific Countries

Remitly focuses on sending money quickly to specific destination countries, with a particular strength in transfers to developing countries.

Key Features

• Express transfers: Delivery within minutes for many corridors (higher fee)
• Economy transfers: Lower fee, delivery in 1-3 business days
• Multiple delivery methods: Bank deposit, mobile money, cash pickup
• Strong coverage: Excellent for sending money to Asia, Africa, Latin America, and Eastern Europe

Pricing

Fees and exchange rates vary significantly by corridor. For popular routes (e.g., Netherlands to Philippines, Netherlands to India), Remitly is often competitive. For EUR to USD or EUR to GBP transfers, Wise is usually cheaper.

Pros

• Very fast delivery options
• Multiple delivery methods including cash pickup
• Good mobile app
• Promotional rates for first-time users
• Strong for remittances to developing countries

Cons

• Exchange rate markup is higher than Wise for most corridors
• Less competitive for large transfers
• Limited for EUR-to-EUR or EUR-to-GBP transfers
• Not a multi-currency banking solution

Verdict

Remitly is a good choice if you regularly send money to specific countries, especially if speed or cash pickup is important. For general-purpose international transfers, Wise remains the better value.

Western Union: Widest Global Reach

Western Union is the oldest and most globally recognized money transfer brand, with agent locations in over 200 countries.

Key Features

• Global network: Transfer to virtually any country
• Cash pickup: Recipients can collect cash at agent locations worldwide
• Online and in-person: Send via app, website, or physical locations
• Speed options: Same-day or even minutes-fast delivery for some routes

Pricing

Western Union is typically more expensive than digital-first services. Fees vary by amount, destination, and payment method, and the exchange rate markup is usually 2-4%.

Pros

• Available almost everywhere in the world
• Cash pickup option for recipients without bank accounts
• Established and trusted brand
• In-person sending options

Cons

• Significantly more expensive than Wise, Revolut, or OFX
• Exchange rates include substantial markups
• Fees can be opaque and vary widely
• In-person transfers require visiting a physical location

Verdict

Use Western Union only when other services are not available for your destination, or when the recipient needs cash pickup and does not have a bank account. For all other situations, digital services offer far better value.

PayPal: Convenient but Costly

PayPal is ubiquitous for online payments, but its international transfer capabilities come at a premium.

Key Features

• Personal transfers: Send money to anyone with a PayPal account or email address
• Currency conversion: Convert between 25+ currencies
• Buyer protection: Strong consumer protections for purchases
• Widely accepted: For online payments and purchases

Pricing

PayPal’s currency conversion includes a markup of approximately 3-4% above the mid-market rate. Domestic personal transfers are typically free, but international transfers may include a percentage-based fee.

Pros

• Nearly universal acceptance for online payments
• Easy to use with just an email address
• Strong buyer protection
• No need for bank details to send money

Cons

• Exchange rate markup of 3-4% is very expensive
• Not transparent about total costs
• Fees for receiving payments (if using as a business)
• Not designed for large international transfers

Verdict

Use PayPal for online purchases and small personal payments. Do not use it for large international transfers; the exchange rate markup makes it one of the most expensive options.

Bank Transfers: SEPA vs SWIFT

If you are transferring between bank accounts directly, the type of transfer matters enormously.

SEPA Transfers

SEPA (Single Euro Payments Area) covers 36 European countries, including all EU member states plus Iceland, Liechtenstein, Norway, Switzerland, Monaco, San Marino, Andorra, Vatican City, and the UK.

SEPA transfers are the backbone of Euro-denominated payments within Europe. If you are transferring EUR to or from another European country, this is always the cheapest and fastest option.

SWIFT Transfers

SWIFT is the global interbank messaging system used for international transfers outside SEPA or in non-EUR currencies.

SWIFT transfers are expensive due to the layering of fees from multiple banks in the chain, and the exchange rates banks offer are consistently worse than what you get from Wise or Revolut.

When to Use Bank Transfers

• SEPA: Always use for EUR-to-EUR transfers within Europe. It is the cheapest and fastest option.
• SWIFT: Only use when the recipient requires a direct bank-to-bank transfer and services like Wise or OFX are not available for the destination.

Which Service Should You Use? A Decision Guide

Setting Up Your International Finance Stack

Based on our experience and research, here is the combination I recommend for expats in the Netherlands:

Must-Have (Set Up Immediately)

1. Wise multi-currency account: Your primary tool for international transfers. Open this before you even move to the Netherlands. You get a European IBAN, a debit card, and the ability to hold and convert 50+ currencies at the mid-market rate. Open a Wise account here.

2. Dutch bank account (ING, ABN AMRO, Rabobank, or Bunq): For salary, rent payments, Dutch direct debits (automatische incasso), and government payments. You need a BSN to open an account at traditional banks. See our guide to the best bank accounts for expats in the Netherlands for a full comparison, or use the bank account chooser to find the right option for your situation.

Recommended Additions

3. Revolut: For everyday spending in multiple currencies, quick transfers to friends, and budgeting tools. The free plan is sufficient for most needs.

4. OFX: Set up an account if you anticipate large transfers (property transactions, inheritance, or investments). It costs nothing to open an account, and having it ready means you can act quickly when needed.

For Specific Needs

5. Remitly: If you regularly send money to family in Asia, Africa, or Latin America, compare Remitly’s rates for your specific corridor against Wise.

Tax Implications of International Transfers

International transfers themselves are not taxed, but the underlying income or assets may have tax implications:

• Income from abroad: Must be declared in your Dutch tax return if you are a Dutch tax resident
• Foreign assets: Reported in Box 3 of your tax return (unless you have the 30% ruling with partial non-resident status)
• Large transfers: May trigger anti-money-laundering questions from your bank. Keep documentation of the source and purpose of large transfers.
• Gifts: Receiving large gifts from abroad may be subject to Dutch gift tax (schenkbelasting). Consult a tax advisor for specifics.

Tips for Saving Money on International Transfers

1. Always compare the total cost: Fee plus exchange rate markup, not just the fee alone
2. Avoid transferring on weekends: Some services (like Revolut) apply a markup on weekends when forex markets are closed
3. Batch small transfers into larger ones: A single EUR 5,000 transfer is usually cheaper (proportionally) than five EUR 1,000 transfers
4. Use SEPA for EUR-to-EUR: Never use a paid transfer service for EUR transfers within Europe
5. Set rate alerts: Wise and OFX allow you to set alerts when a favorable exchange rate is reached
6. Use forward contracts for large planned transfers: If you know you will need to transfer a large sum in the future (e.g., for property), lock in a rate with OFX
7. Avoid airport currency exchange: The rates are consistently the worst available. Transfer digitally instead.

Practical Scenarios: What Expats Actually Transfer

Based on what I see among expats I work with, here are the most common transfer scenarios and the best approach for each.

Monthly Living Support from Family Abroad

If your parents or a partner send you money from outside Europe regularly, the best approach for the recipient is to receive it into a Wise account. The sender can use Wise directly if available in their country, or use Remitly or OFX depending on their location and amount. Receiving directly into Wise avoids the incoming international wire fee that most Dutch banks charge (typically €5–10 per incoming international transfer).

Sending a Portion of Dutch Salary Home Monthly

This is one of the most common expat scenarios — working in the Netherlands, supporting family abroad, or maintaining savings in your home currency. Wise’s recurring transfer feature is purpose-built for this. Set up a standing transfer for the first of each month. The rate you get will reflect current market rates, and the fee is minimal compared to any bank alternative.

For currencies like Indian Rupee (INR), Philippine Peso (PHP), South African Rand (ZAR), or Brazilian Real (BRL), compare Wise against Remitly for your specific corridor — Remitly is occasionally better for specific emerging market currency routes.

Buying Property in the Netherlands or Abroad

Property transactions involve the largest transfers most expats will ever make. At €200,000–€500,000+, even a 0.1% difference in exchange rate or fee represents hundreds of euros.

For a Dutch property purchase, the transfer typically goes from your home-country account to a Dutch notary’s account in EUR. If you are transferring from a non-EUR account, OFX and a dedicated FX broker (Global Reach, Moneycorp) are worth comparing. The forward contract feature — locking in an exchange rate weeks or months before the transfer — is genuinely valuable when a €10,000 rate swing is possible before your notary appointment.

For the property buying process itself, see the buying property in the Netherlands guide.

Repatriating Money When Leaving the Netherlands

When you eventually leave the Netherlands, you may want to transfer a significant sum — Dutch savings, the proceeds of a property sale, pension fund withdrawals. This is typically a one-time large transfer where OFX (for negotiated rates), or Wise (for transparency and speed) are the right tools. Allow extra time: regulatory compliance checks on large transfers (particularly above €50,000) can add a day or two of processing time.

Supporting an Elderly Parent Abroad

Regular smaller payments to an aging parent in a non-EU country are a common expat scenario. Remitly’s mobile money delivery option (where money is delivered directly to a mobile wallet rather than a bank account) is particularly useful for recipients in countries where mobile payments are more common than bank accounts.

Exchange Rate Timing: Does It Matter?

Many expats ask whether they should try to time their transfers for the “best” exchange rate.

The honest answer: for regular monthly transfers, timing matters much less than most people think, and the costs of actively trying to time the market usually outweigh the benefits. Currency markets are driven by macroeconomic forces that are difficult even for professional traders to predict consistently.

What does work:

• Using rate alerts (available on Wise and OFX) to notify you when the rate hits a level you consider favourable
• Using OFX forward contracts when you have a specific large transfer coming up and want certainty about the amount you will receive
• Avoiding weekend transfers on platforms that add a weekend markup (primarily Revolut)

What does not work:

• Waiting indefinitely for the “perfect” rate
• Trying to predict short-term currency movements based on news

The most effective approach for most expats is simply to use the most cost-efficient service consistently (Wise for most scenarios) rather than trying to time the market.

Final Thoughts

International money transfers do not need to be expensive or complicated. The key insight is simple: avoid traditional bank SWIFT transfers whenever possible. The combination of high fees and poor exchange rates makes them the most expensive option for nearly every scenario.

For most expats in the Netherlands, Wise is the single best tool for international transfers. It offers the mid-market exchange rate, transparent fees, fast delivery, and a multi-currency account that simplifies life across borders.

Set up your Wise account before you move, add a Dutch bank account once you have your BSN, and you will have a financial setup that handles international life efficiently and affordably.

Open your free Wise account here.

Start Saving on International Transfers with Wise →

Practical Scenarios: Which Service to Use When

After years of handling international transfers in both directions — from the Netherlands and back — I have developed clear preferences for specific situations. Here is what I actually do.

Sending €500–5,000 to a UK bank account: Wise, every time. The fee is around 0.5–0.7% of the amount, the rate is mid-market, and the transfer typically arrives within hours. A SWIFT transfer from ING for the same amount costs €25 in fixed fees plus a 1.5% currency spread — Wise saves approximately €35–85 on a €3,000 transfer.

Receiving salary from a non-Dutch employer: Keep a Wise multi-currency account. If your employer pays in GBP, USD, or another currency, receive it into the matching Wise currency account and convert to EUR when you choose. This avoids your employer’s bank and your Dutch bank both taking conversion fees on the same payment.

Sending a large one-off sum (€20,000+) for a property purchase abroad: OFX for its fixed-rate forward contracts and dedicated account manager support. For transactions of this size, the difference between OFX’s institutional rates and Wise’s consumer rates becomes negligible, but OFX’s ability to lock a rate days or weeks in advance provides certainty when timing matters for a property completion.

Regular monthly transfers to parents or family (€100–500): Wise for EU and major currency corridors. Remitly or World Remit for countries where Wise has less competitive rates — check both for your specific destination and amount before committing.

Receiving freelance payments from a US client in USD: Accept into your Wise USD account using Wise’s US routing number and account details. This allows your US client to pay as if they were making a domestic US transfer, eliminating international wire fees on their end. Convert USD to EUR in Wise when you are ready.

Emergency transfer when someone needs money urgently: Wise’s instant transfer option (available for many currency corridors) typically arrives within minutes. For destinations where instant is not available, Western Union’s cash pickup network remains the fastest option for urgent transfers to countries with limited banking infrastructure.

For more on managing your finances in the Netherlands, see my guide to the 30% ruling and our complete guide to moving to the Netherlands in 2026.

Understanding Dutch Tax Implications of International Transfers

International money transfers have tax implications that many expats do not think about until they become a problem. Here is what you need to know in the Dutch context.

Transfers are not taxable income. Moving money from a foreign bank account to your Dutch account is not a taxable event. It is a transfer of existing assets, not income. You do not need to declare transfers as income on your Dutch tax return.

Foreign bank accounts must be declared in Box 3. The balance in your foreign bank accounts on 1 January each year must be declared as part of your Box 3 (wealth) tax return. The Dutch tax authority has automatic information exchange agreements with most countries — they can see foreign account balances reported by foreign banks. Failing to declare is risky. The declaration requires the account balance, the country, and the institution.

Large transfers from abroad may trigger queries. The Dutch banking sector is subject to anti-money laundering (AML) regulations. A large single transfer from abroad — particularly from a non-EU country — may prompt your Dutch bank to request documentation explaining the source of the funds. A salary payment, property sale proceeds, or inheritance can all be explained with appropriate documentation. This is a standard AML process, not an accusation of wrongdoing, but it is worth being prepared to explain large transfers if asked.

Regular transfers to family abroad are not deductible. Sending money to support family members in another country is not a deductible expense for Dutch income tax purposes, unless the recipient is a dependent who qualifies under specific Dutch family support rules (which is uncommon). Do not attempt to claim regular family support payments as a tax deduction without specific advice from a Dutch tax specialist.

Currency gains on foreign accounts. If you hold a foreign currency account (USD, GBP, etc.) and the exchange rate moves in your favour between 1 January and the date you convert to EUR, the notional gain is part of your Box 3 position on the relevant reference date. For most expats with modest foreign currency balances, this is not significant. For those with substantial foreign currency holdings — property proceeds, large investment accounts — this is worth including in your tax planning conversation.