Send Money To Netherlands

Netherlands flagWith the help of our Netherlands Money Transfer Guide you will be able to get the most out of your Euro savings.

We will introduce you the top Foreign Exchange companies you need to work with when sending money to or from the Netherlands. Forget the High Street banks that charge high fees and provide awful currency exchange rates. Those days will soon be just bad memories.

The Guide’s Topics:


Best Company To Transfer Money To Netherlands

Payment Facility

Summary

Recommendation

worldfirst-logoMin. Transfer: £ / € 1,000.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates*:
- GBP: 1.1589 EUR to 1.1706 EUR
- USD: 0.9327 EUR to 0.9421 EUR
- CAD: 0.7131 EUR to 0.7203 EUR
WorldFirst
WorldFirst Review
MoneyCorp logoMin. Transfer: £ / € 50.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates*:
- GBP: 1.1594 EUR to 1.1694 EUR
- USD: 0.9332 EUR to 0.9412 EUR
- CAD: 0.7135 EUR to 0.7196 EUR
MoneyCorp
MoneyCorp Review
transferwise logoMin. Transfer: £ / € 1.
Transfer: Online or using the App.
Wire Fees: 0.5% from amount and minim £2

Expected Rates*:
- GBP: 1.1765 EUR
- USD: 0.9469 EUR
- CAD: 0.7240 EUR
Transferwise
Transferwise Review
Netherlands BankBig International Transfer Fee + Currency Exchange Fee. Double The Cost Of Commercial FX.
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick but expensive. Paypal

* Expected Rates reflect our rate expectations based on our research. We do not guarantee accuracy. For some companies we used a range of rates because they offer wholesale rates for large trades and higher rates for small trades.

Supported Countries & Payment methods

WorldFirst is a company that is focused on providing and easy and simple process for all of your money transfer needs. This is why they are one of the few on the market that have developed a mobile app that let you send money internationally in just a few taps on your mobile device.

MoneyCorp is one of the oldest companies in the market, having more than 35 years of experience in providing quality money transfer services to its customers. And with a £11Bn in Annual Turnover, it’s also one of the biggest companies of this kind.

CurrencySolutions is the more niche company in our list as they prefer to work with higher amounts that the above two. They cater more to businesses than regular customers and have become a regular partner of many real estate agents who work with abroad clients.


Best Company to Transfer Money from Netherlands

Service Provider

Summary

Recommendation

worldfirst-logoMin. Transfer: £ / € 1,000.
Transfer: Online or by Phone.
Why Them? 75,000+ Active Clients. 100+ Currencies Available. 98% Positive Client Feedback.
WorldFirst
WorldFirst Review

Supported Regions & Currencies

There are no restrictions on inbound or outbound money transfers in the Netherlands, in contrast with the USA where they have state by state restrictions and licenses. This means that any company that can provide money transfer services can do so in every region of the country.

Currencies: All three companies we have recommended above work with international clients on a daily basis. As they trade between many currencies, you can easily make transfers to European countries that are using Euro as their main currency like FranceSpain, Germany, Cyprus, Austria, Belgium and many more.

But they can also reach more exotic destinations like Brazil, New Zealand, Morocco, UAE, Hong Kong, China or Nigeria.


Today’s Foreign Exchange Rates for EUR

GBP to EUR – Pounds to Euro; 10,000 GBP is 11,765.0000 EUR

EUR to GBP – Euro to Pounds; 10,000 EUR is 8,499.7875 GBP

EUR to CAD – Euro to Canadian Dollars; 10,000 EUR is 13,813.0047 CAD

CAD to EUR – Canadian Dollars to Euro; 10,000 CAD is 7,239.5545 EUR

AUD to EUR – Australian Dollar to Euro; 10,000 AUD is 7,269.5255 EUR

EUR to AUD – Euro to Australian Dollar; 10,000 EUR is 13,756.0561 AUD

EUR to USD – Euro to US Dollars; 10,000 EUR is 10,560.9860 USD

USD to EUR – US Dollars to Euro; 10,000 USD is 9,468.8129 EUR

EUR to CHF – Euro to Swiss Franc; 10,000 EUR is 10,654.4836 CHF

CHF to EUR – Swiss Francs to Euro; 10,000 CHF is 9,385.7200 EUR

NZD to EUR – New Zealand Dollar to Euro; 10,000 NZD is 6,798.6131 EUR

EUR to NZD – Euro to New Zealand Dollar; 10,000 EUR is 14,708.8823 NZD


Sending Money To A Netherlands Bank Account

According to the World Bank, The Netherlands was the 18th largest economy in the world in 2012 even though the 2008 crisis had a significant impact on the economy (forcing several banks into bankruptcy while others had to receive governmental aid).

Real Estate: After 15 years of constant growth in property value, the 2008 crisis affected the real estate market in The Netherlands as it did in most of the world. But after a few years of small declines, 2014 has recorded a comeback with 2015 to set new highs. The most important aspect for those interested in investing, is the fact that this upward trend applies to almost all cities and municipalities across the country – something that is not seen in many European countries.

Relocating To Netherlands?

Pay attention to the stats we provided below if you’re thinking to relocate to the Netherlands:

Advantages Of Moving To Netherlands:

  • Short Work Hours: 0.5% of employees work long hours.
  • Good Water Quality: 90% of citizens are satisfied with the quality of their drinking water.
  • High Income: the average household net-adjusted disposable income per capita is USD 27,888 per year.

Disadvantages Of Moving To Netherlands:

  • Healthcare is Expensive: Up to 33,363 EUR per year can be deducted from your salary if you are under 65.
  • Restricted Business Hours: Most shops are closed until 1:00 pm on Mondays and only major cities offer Sunday shopping.
  • Expected to Learn Dutch: Even though most Dutch people speak English, they expect all expats to make an effort to learn their language if they are staying for an extended period of time.

Popular Destinations in the Netherlands:

Popular cities for business and real estate transactions in Netherlands are: Amsterdam, Rotterdam, Hague, Utrecht, Eindhoven, Tilburg, Groningen, Almere, Breda and Nijmegen.


Best Way To Make A Cheap Transfer To The Netherlands

There are two primary reasons why using Foreign Exchange companies costs less than banks and even remittance companies. The first is that they don’t make their money through fees. Instead, they use their refined insight and knowledge of foreign currency exchange markets to make smart trades. The model is simple yet very effective – buying huge quantities of currency at a wholesale price and re-selling them for a profit margin.

Next, most foreign exchange companies do a large portion of their business online, which results in much lower overhead compared to banks and remittance companies that must maintain multiple branches.

The savings that foreign exchange companies enjoy is passed along to the customer. As a matter of fact, if you make international transfers that meet a certain threshold, you may even be able to send your money to The Netherlands for free.

What you need to send money to Netherlands

  • Account Holder’s Full Name
  • IBAN
  • Swift/BIC Code
  • Your identity card

After you provide the details listed above the process is pretty straightforward:

  • Create an account with one of the listed companies.
  • Get a quote from one of the dealers.
  • Add money to your account so you can fund the transfer.
  • Get the confirmation from the company that the transaction is successfully completed.

Our Company Recommendation:


Regulations and taxes when transferring money to and from the Netherlands

The Netherlands has no regulations or currency controls, as a member of the single currency Eurozone. Since it relies heavily on foreign trade, it is of high importance that foreign transfer of money is particularly effortless. There are no restrictions for residents and non-residents

The Eurozone’s single payments system for all member states, as well as Iceland Liechtenstein and Norway, has simplified money transfers.

De Nederlandsche Bank

De Nederlandsche Bank (the central bank of the Netherlands), with its Financial Intelligence Unit, oversees payment systems to curb money laundering and ensure the stability of their financial sector.

The European Central Bank (ECB) sets the single monetary policy.

Transfer regulations

As one of the most dynamic trade centers in the EU, the Netherlands is particularly open to foreign trade and investments. Although its openness made the Dutch economy vulnerable during the Eurozone crisis, the government worked to increase trade incentives, rather than impose extra restrictions.

No transfer restrictions are in place, nor do transfers need to be officially declared.

Transfers over EUR10,000 must be declared to European Union authorities.

Taxation on foreign income

Dutch residents are taxed on any foreign income.

Non-residents are taxed on any income originating in Netherlands. To encourage migration of skilled workers, the Netherlands has tax benefits for non-residents. Double tax treaties are in place to avoid double-taxation.

Biggest banks in Netherlands

  • Rabobank
  • ABN-Amro
  • ING
  • Van Lanschot
  • Deutsche Bank

1 Trackback / Pingback

  1. How to Move Abroad - Part 2: The Netherlands - Tassie Devil Abroad

Leave a Reply

Your email address will not be published.


*