Dutch banking without BSN

By |Published On: 8 december 2023|Last Updated: 29 februari 2024|3,8 min read|

The Netherlands stands as a prominent financial hub in Europe, making it an ideal destination for expats seeking efficient banking services. Amsterdam, boasting one of Europe’s largest financial districts, offers a plethora of banking options to cater to your financial needs.

Requirements for Opening a Dutch Bank Account: When venturing to open a bank account, ensure you bring the following documents:

  1. Passport or ID card
  2. Proof of address and income, such as the previous year’s tax return
  3. Proof of identity, like a driver’s license or student ID

Can You Open an Account Without a BSN Number?

Yes, it’s possible to open a bank account at Bunq without a BSN number, although obtaining one within 30 days is essential. The BSN number is directly linked to your bank account, irrespective of the banking branch.

Applying for a Dutch Bank Account

To open a Dutch bank account, having both a Dutch address and an existing Dutch bank account is typically required. However, if you need a Dutch bank account for a home loan or mortgage, you can obtain it concurrently with your new home purchase.

The online application process involves uploading scans of documents like your passport or driver’s license. Once verified, which takes approximately two weeks, the bank will guide you through the next steps, such as collecting your new card at the branch office or setting up a pin code through the website.

Managing Bills from Abroad

Maintaining a good credit rating involves paying bills promptly. Online banking or mobile apps like iDeal, Bancontact, or Masterpass facilitate bill payments from abroad. Consider setting up automatic payments to streamline the process. In case of challenges, friends or family residing nearby may assist with monthly bill payments.

Opening a Bank Account in Amsterdam

To open a bank account in Amsterdam, bring proof of address, your passport or Dutch identity card, and your IBAN number if available. If you don’t have an IBAN number, the bank will assign one during the account opening process.

Withdrawing Money Abroad

The Dutch banking system’s sophistication allows easy access to cash while traveling. Use ATMs or cash points with a debit card featuring a four-digit pin number.

Understanding the Payment System in the Netherlands: Receive payments from other countries directly into your Dutch bank account, though a fee may apply. Most banks offer user-friendly apps to simplify international payments and ensure accurate accounting. Track remittances carefully to avoid inadvertent double spending.

Bunq: Bank of the free

Bunq, the brainchild of Dutch IT entrepreneur Ali Niknam, has emerged as a leading online bank in the Netherlands since its inception in 2012. Acquiring an official Dutch banking license in 2014, bunq is now at the forefront of financial innovation, setting the pace for its counterparts.

Empowering Customer Control

Bunq stands out by empowering its customers to dictate where their money is invested, granting them unprecedented control over their financial portfolios. This unique feature aligns with bunq’s commitment to putting the power in the hands of its users.

Green Initiative

A standout feature of bunq is its commitment to sustainability. The bank offers a special payment account that allows customers to offset their carbon footprint by contributing to tree planting initiatives. This green initiative demonstrates bunq’s dedication to making a positive impact on the environment.

Group Account Sharing

In addition to individual accounts, bunq recognizes the importance of collaborative financial efforts. The platform allows users to share accounts within a group, making it an ideal choice for joint expenses, projects, or shared financial goals.

Interest Rate Leadership

Bunq made headlines in early 2023 by increasing savings interest rates, challenging the industry norm of low or negative rates. This move underscores bunq’s dedication to offering favorable conditions for its customers.

Safety and Reliability

Bunq’s status as an official Dutch bank, coupled with oversight from the AFM and DNB, ensures the safety and reliability of its services. Customer accounts are protected by the deposit guarantee scheme, guaranteeing funds up to €100,000 in the unlikely event of the bank’s bankruptcy.

Author: Roger Kentie

Roger is a Dutch citizen with experience living and working as an expat in multiple countries. Roger has a deep understanding of the complex Dutch financial landscape and is able to provide insights to help other expats make informed financial decisions.

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