The Best Banks for International Students in The Netherlands
The Netherlands is one of the top European destinations for international students because of its world-class universities, such as the University of Amsterdam and Erasmus University Rotterdam.
When you arrive in the Netherlands as a student, one of the first things you will need to do as you settle down is to open a bank account.
Having a local bank account makes it easier to pay tuition, manage rent, and handle daily expenses, as well as receive remittances from family and friends at home. Here, we present the best banks for international students in the Netherlands..
Top banks for international students in the Netherlands
ABN AMRO
Being one of the largest banks in the Netherlands, ABN AMRO is an excellent choice for international students.
It is perfect for non-Dutch speakers since it is the only Dutch bank that offers its information and communication in English. Hence, international students can easily understand and navigate its services.
The bank offers a student package that includes a free account setup for international students, with no monthly fees. Alongside the account, students get a debit card, internet/mobile banking and tailored insurance.
The insurance for international students comes with high-coverage accident insurance, home contents insurance, and personal liability insurance that is also valid abroad.
Students can have the standard credit card, the gold credit card, or the ABN AMRO student credit card.
The ABN AMRO student credit card ensures purchases for up to 180 days, allows contactless payment, and guarantees delivery for online purchases.
An international student can even set up a joint account for themselves and another person for just €1.70 monthly.
ING Group
Like ABN AMRO, ING Group allows the creation of a free student account, which comes with extra benefits.
It is far easier to open an account with this bank than with other banks in the Netherlands.
A student bank account can be registered using their mobile banking app, which comes with an English translation. Students without a BSN—Burgerservicenummer (Citizen Service Number)—can still open and provide their BSN at a later time.
ING’s student account comes with a student credit card, exclusive student discounts, and free counsel on student insurance products. Students receive discounts on student insurance, such as full coverage for their dorm rooms.
They also receive waivers for monthly and annual account fees so they can complete expenses without extra costs.
Emmanuel Ogbodo
Rabobank
Rabobank is not as accessible to international students as other banks; however, it has a free student package that comes with a free debit card and access to online banking.
It is known for its high security ratings, which make it one of the most trusted financial institutions in the Netherlands.
As mentioned earlier, it is not as accessible as other banks. This inaccessibility begins with its default language: its website and internet banking are in Dutch; no information is provided in English.
Also, setting up an account requires one to book an appointment; it is not a process that can be done on the phone.
Bunq
One of the demerits of the aforementioned banks is the high cost that comes with international transactions, such as international purchases and international ATM withdrawals.
This is where Bunq stands out. The online bank is a go-to for international students who frequently make international transactions. It even offers discounts on platforms like Booking.com.
Aside from Dutch, Bunq is also available in English, Spanish, and German. With Bunq, a student can have both a Maestro and a MasterCard linked to one account, allowing them to pay for anything using their phone.
The bank also offers an interest rate that is nine times higher than what other banks offer.
However, there is a downside to Bunq. It only supports euros, so sending or receiving money in other currencies requires using a third-party platform. To mitigate this challenge, the bank integrated Transferwise into its app.
ASN Bank
While ASN Bank offers regular and joint accounts for €2.70 monthly, its student account is free. It is best for those with financial constraints who do not want to spend a lot to maintain their bank accounts.
How to open a student bank account in the Netherlands
In the Netherlands, there is not much difference between opening a normal bank account and a student bank account.
Most Dutch banks allow the opening of a student account through their website or mobile banking app. Only some banks require an in-person appointment. Though the required documents vary by bank, the common documents include:
- Valid proof of identity (passport or ID card)
- Proof of Dutch residence
- BSN
Those who are not from an EU nationality may require a residence permit. A proof of enrollment at a Dutch educational institution may also be required by some banks.
As stated earlier, these local bank accounts make it easier to pay tuition, handle daily expenses, and receive funds from home.
However, using them for international remittances usually comes with high fees and unfavourable exchange rates.
Hence, students would require a global money transfer solution like OhentPay, which is designed for swift and affordable cross-border transfers.
OhentPay: Swift, student-friendly solution
OhentPay stands out as a reliable and intuitive payment platform for personal and business transactions.
It is known for its transparent pricing, fast processing times, and global reach. Students in the Netherlands can enjoy benefits including:
- Cost predictability with a flat rate of £1.50 for personal accounts with no hidden fees
- An array of 40+ currencies, operating in more than 190 countries
- Swift processing times
- Reliable customer support
In addition to these, students do not need to have Dutch residency requirements—all they need is a valid ID to have an OhentPay account.
With OhentPay, they can receive financial support from home or become freelancers who earn in other currencies using OhentPay for payment. It is way faster, swifter, cheaper, and more convenient than traditional banks.
Summary
As an international student, choosing the right bank is a vital step in settling in any new country, including the Netherlands.
The Netherlands offers top-class financial institutions such as ABN AMRO, ING, and Rabobank, among others. While these banks offer flexibility and English support in the Dutch-speaking Netherlands, they are not usually efficient for cross-border payments.
This is why they need to supplement with Ohentpay, a modern, affordable solution to meet this extra need of international students.
For instant transfers, strong exchange rates, and zero hidden costs, OhentPay is a go-to option. You can create your free OhentPay account here today.
If you're considering living in other countries, you can read more about the best banks for international students here.
