Which payments account?

Different Types of Payments Account Providers

It’s not just banks that can offer payments accounts; non-bank intitutions known as EMIs (electronic money institutions) can do so as well. Here’s an overview of the different types of payments account providers:

• Traditional banks: These often offer a wide range of services, such as payments and savings accounts, loans, and insurances. Some traditional banks still have physical branches or service points that customers can visit, and they still support paper transfer forms and paper bank statements.
• Neo-banks: These are relatively new, mostly fully digital banks that focus on digital convenience and low costs for basic services.
• Electronic Money Institutions (EMIs): EMIs are not banks but are subject to regulation. You cannot save or borrow from an EMI. However, you do receive a standard debit card and can make and receive all standard payments. EMIs focus primarily on specific payment solutions and usually offer simple, digital payments accounts. They are not covered by a ‘deposit guarantee scheme.’

Note: For convenience, we will refer to all providers of payments accounts as “banks” hereafter, unless the distinction between banks and EMIs is truly relevant.

Dutch or foreign IBAN

In the Netherlands, you can choose between payments accounts with Dutch IBANs or with IBANs from other SEPA countries (IBAN stands for International Bank Account Number). All IBANs from all SEPA countries are, in principle, equivalent, but there are still differences:

• Single Euro Payments Area (SEPA): SEPA includes all EU countries, plus a few non-EU countries that strictly adhere to all EU rules and agreements for euro payments. Non-EU SEPA countries include the United Kingdom, Norway, and Switzerland. Payments in euros are largely harmonized across all SEPA countries(opens in new window) . This means that someone can send or receive a transfer in euros between two different SEPA countries just as easily as within the Netherlands.
• Direct debits: Businesses and institutions are not allowed to discriminate against IBANs of customers from other SEPA countries , but in practice, this unfortunately still happens. Especially with direct debits, some creditors in a particular SEPA country (the Netherlands) still cannot process IBANs of customers from other SEPA countries.
• Domestic collective banking services: The Netherlands has a number of domestic collective services between banks in which banks from other SEPA countries do not (yet) participate. For example, you can only use the Dutch Account Switching Service(opens in new window) to switch between two banks with Dutch IBANs. EMIs do not participate in the Account Switching Service, not even Dutch EMIs.

Paying with iDEAL | Wero

iDEAL | Wero is the most widely used online payment method in the Netherlands(opens in new window) . At most Dutch banks, paying with iDEAL | Wero is included with every payments account. At some banks from other eurozone countries, with a foreign IBAN, iDEAL | Wero is also included for account holders residing in the Netherlands.

All commonly used Dutch mobile requests-to-pay (such as Tikkie) use iDEAL | Wero. Customers of a bank that does not support iDEAL | Wero payments cannot, therefore, pay friends and family through Dutch mobile requests-to-pay.

Instant Payments

Between Dutch banks, account holders can almost always make fast digital transfers using an instant payment (immediate transfer), without any additional costs. The amount is then credited to the recipient’s payments account within seconds.

Starting in October 2025, all SEPA banks must be able to send and receive instant payments for all digital transfers in euros.

EMIs are granted a slightly longer grace period—until April 2027—but if they wish, they can support instant payments earlier. Until EMIs are required to support instant payments in 2027, a transfer to or from an EMI may still take one or two business days.

Deposit Guarantee Scheme

Individuals at a bank: The deposit guarantee scheme protects the total balance (‘deposit’) of an individual customer at a Dutch bank up to €100,000 in the event that the bank goes bankrupt. Many other SEPA countries also have a deposit guarantee scheme, usually covering a guaranteed amount of approximately €100,000 per individual account holder. If you choose a bank from another SEPA country, that bank is covered by that country’s deposit guarantee scheme. Therefore, first find out whether and for what amount a bank from another SEPA country is covered by a deposit guarantee scheme before opening a payments account there.

Businesses at a bank: In the Netherlands, funds held by business customers are only covered by the deposit guarantee scheme if the business is relatively small. This includes sole proprietorships and self-employed individuals. This may differ in other SEPA countries.

Read more about the Dutch deposit guarantee scheme…(opens in new window)

Electronic Money Institutions (EMIs): None of the funds held by account holders at EMIs are covered by a deposit guarantee scheme. However, EMIs do offer other safeguards, such as strictly separating customer funds from the EMI’s own capital. Carefully check what safeguards an EMI offers if you plan to deposit a large amount into a payments account there.

Special types of payments accounts

Many banks offer special payments accounts for individuals, such as joint accounts with two or more equal account holders, or accounts with specific restrictions for minors. Not all banks offer these types of accounts, so keep this in mind when choosing a bank.

For businesses, the variety of payments accounts available is even greater. Therefore, make sure to thoroughly research whether a particular bank’s services and business rates align well with your needs and preferences as a business.

Assessing and approving a new business customer can take weeks to months. A bank may also completely reject an application for a business payments account.

Withdrawing and Depositing Cash

With a debit card from any bank, you can withdraw cash at virtually all ATMs worldwide. However, with some banks or certain account types, this is not included in the monthly fixed account fees, not even for cash withdrawals in the Netherlands.

If you want to withdraw cash regularly in the Netherlands, look for a bank or account type that does not charge extra fees for this.

Only some traditional banks allow you to deposit cash(opens in new window) , and you usually have to pay a separate fee for this. Cash deposits are rarely included free of charge in the fixed monthly fees.

Fees and Rates

The fees and rates for payments accounts can vary significantly, depending on the services available and which ones you use:

• Fixed monthly fees: These typically include a wide range of services, such as all transfers and direct debits within SEPA, a standard debit card and all payments made with it in eurozone countries, iDEAL payments, and sending or paying mobile requests-to-pay. However, each bank may have different policies, so be sure to carefully review the fees and terms of the bank you’re considering.
• Variable (transaction) fees: These apply to all transactions and services not included in the fixed monthly fees. Examples include fees for withdrawing and depositing cash, fees for transfers to countries outside the SEPA zone (outside Europe), fees for debit card payments outside Europe, or fees for requesting an additional debit card.

Overview of providers of payments accounts in the Netherlands

Below, we present an overview of banks and EMIs that offer payments accounts in the Netherlands. For each institution, we list a few general characteristics:

• Bank or EMI
• Dutch IBAN available or not
• iDEAL payments available or not
• Country of deposit guarantee scheme (dgs)

When making your choice, don’t forget to also consider customer service and the accessibility of the various banking and payment services. A small number of banks still have branches or service points that you can visit for a personal consultation. Most banks are only accessible by phone and online. Some neo-banks and EMIs are only accessible online, via their website or mobile app.

Table updated on 16 April 2026.