BANKING & TRANSFERS

Online Setup • Cheap Transfers • English Support

a vault used for banking

Open a free Dutch bank account online within a few minutes. Avoid high fees when transferring your university tuition & enjoy customer support in English.

5-MINUTE SETUP

With bunq, you can open a Dutch bank account in just 5 minutes. Bank like a local with local currencies and get your own IBAN. A personal bunq DigiCard allows you to make purchases directly from your phone. Plus, easily order a bunq Maestro card for debit payments.

students sitting around a table
a guy doing online banking

MOBILE BANKING

Booking an appointment at a bank to set up a bank account in person is a thing of the past. With bunq, you can get one online within minutes. Keep all finances at your fingertips and explore special social features like the receipt splitter, budgeting with friends, joint accounts, and even create a personal payment link.

CHEAP INTERNATIONAL TRANSFERS

International transfers can get expensive fast. With a lack of transparency, most banks end up overcharging you for sending money abroad. With bunq, our official banking partner, you can safely send money across the world with real exchange rates and without the hidden fees. You'll always know the total cost upfront.

a girl standing next to a banking globe
A girl looking at the College Life International Student Guide

THE GUIDE TO DUTCH BANK ACCOUNTS

Simplify your life by learning more about how to setup a bank account in the Netherlands.

Bunq

In collaboration with our official banking partner

WE ♥ OUR COMMUNITY

  • Not only did I find them helpful and informative but extremely understanding, friendly and managed to keep me in the loop at all times. Their service was quick and easy which was a huge plus considering my situation. Once again would recommend.

    Asleigh
    Asleigh International Student from Australia
  • A very reliable service, always on their toes and on the lookout to offer the best possible service for students.

    Enzo
    Enzo International Student from Australia
  • The service is top notch and couldn't have asked for a better person to speak to. I would recommend this organization to every international student who is looking for these kinds of services.

    Patience
    Patience International Student from India

FREQUENTLY ASKED QUESTIONS

What documents do I need to open an account?

You will find that the answer to this question varies. Before opening an account, make sure to check online for the documents each account requires. Generally, they may ask for any of the following information:

  • A valid government issued photo ID

  • Date of birth

  • Social Security number

  • Home address

  • Phone number

  • Proof of residency (this less common, but some traditional banks do ask for it)

How much does it cost to open an account?

While many banks require an initial deposit that can range from hundreds to thousands of dollars, checking accounts without deposit requirements exist. Their availability can vary from bank to bank, and some may even have hidden fees and significant limitations. At N26, our accounts don’t require a minimum deposit, so you can bank your way no matter your situation.

What type of account should I open?

For your first account, you should keep things simple. A free checking account is a good place to start, allowing you to pay with the swipe of a card at most retailers, withdraw cash, and manage your money through a variety of online and mobile tools. There are plenty of free accounts out there, so make sure you find one that fits your lifestyle.

Do I need to keep a minimum amount of money in my account?

Some accounts have minimum balance requirements — that is, a minimum amount of money that banks require you to keep in your account from month to month. If you don't manage to do so, you may have to pay a fee. While maintaining a minimum balance may not seem like a big deal in the beginning, keep in mind that you might need access to those funds in case of an emergency. Once you dip below the minimum balance, it can be hard to get your head above water again. When choosing an account, make sure it is a good fit for wherever you are in your financial journey.

What other fees might I have to pay?

Banking fine print can be tricky, and if you’re not careful, hidden fees can surface seemingly out of nowhere. There are plenty to watch out for when choosing your first bank account, but here are some fairly common culprits:

Overdraft fees: Many accounts for people who are new to banking come with an overdraft service, which allows you to spend more money than is actually available in your account. While this could help you out in a pinch, it's a bit of a double-edged sword: If you dip into your overdraft, you may have to pay a fee — in some cases for every purchase over the limit. For your first bank account, it's a good idea to look for a bank with no hidden overdraft fees or tricky overdraft programs.

ATM fees: Many traditional banks have a network of ATMs that you can use to withdraw money when you need it. But these ATMs aren't everywhere, and if you use ATMs outside of your network, you'll probably have to pay a fee or two to take your money out. N26 offers a large network of partner ATMs, plus the added benefit of instantly reimbursing all fees for two out-of-network transactions each month.

Transfer fees: Many banks will charge you to transfer funds from one account to another. That can be annoying if you want to send money to a friend or from your savings to your checking account. Peer to peer alternatives exit, but they may include grace periods and in some cases transfer fees. When you bank with N26, you can use MoneyBeam to instantly send and receive money to and from anyone with an N26 account.

Foreign transaction fees: This is definitely one to pay attention to if you like to travel. International spending can become a costly experience, as some banks will charge you for transactions made in different currencies or in different countries. N26 doesn’t charge foregin transaction fees when you pay with your card abroad, so you can travel with peace of mind.

Will my new bank account impact my credit score?

Actually, it won’t. Credit scores measure your reliability when it comes to paying back money loaned to you within a certain time frame. Checking and savings accounts are for depositing and withdrawing existing funds — that means they have no impact on your credit score whatsoever.

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