< Back What is the local currency? What denominations does it come in? What is the best way to exchange currency? What are commonly-used forms of payment for everyday purchases (such as groceries)? Will I be able to use my credit card around town? If not, list when I’ll need cash. By what method are bills (such as rent and utilities) paid? What are the requirements for opening a bank account? At what stage of the settling-in process should I open it? Will foreign residents be able to find banking services in their native languages? Are there any restrictions on services for those who are new to your country? What are typical banking hours? Are automatic teller machines (ATMs) available around the clock? Is there any other money information that might help me? What is the local currency? Euro. ↑ Top What denominations does it come in? Notes (euros): 5, 10, 20, 50, 100, 200 and 500 Coins (cents): 1, 2, 5, 10, 20 and 50 Coins (euros): 1, 2 In the Netherlands, they no longer use the 1- and 2-cent coins. You can still pay with them, however, the shops will round off the amounts on 5 cents. ↑ Top What is the best way to exchange currency? You are able to exchange currency at a bank, post office or at a GWK money exchange office. You will find GWK offices at railway stations, the airport and other places where there are a lot of tourists. ↑ Top What are commonly-used forms of payment for everyday purchases (such as groceries)? Cash and bank card (debit card). ↑ Top Will I be able to use my credit card around town? If not, list when I’ll need cash. Most supermarkets, smaller restaurants, train ticket offices and corner shops do not accept credit cards. You can pay by credit card in large international stores, such as IKEA or H&M, and some railway stations. Online shopping within The Netherlands is done with your Dutch bank card. To book flights or shop through international websites, you will probably also need a credit card since your Dutch card may not contain the necessary symbols to be used online outside of The Netherlands. ↑ Top By what method are bills (such as rent and utilities) paid? Pre-authorized debit is an efficient way of paying gas, water and electricity bills. This way your bills are automatically deducted from your bank account. Otherwise, most people pay using online banking. Checks are not accepted or available in The Netherlands. ↑ Top What are the requirements for opening a bank account? At what stage of the settling-in process should I open it? To open a bank account, you will need to show the bank an address, passport and a sofi number (local tax/social security number). A sofi number puts you into the financial/tax and social system. Both the tax office and your employer will need this number, which is personal to you. For EU citizens, you simply take your passport to your local tax office and ask for a sofi number. To open a bank account with the Postbank, you also need a residence permit. To open a bank account with the ABN Amro, you don't normally need to show a Dutch employment contract unless you want to apply for a credit card. Most people moving to The Netherlands open a bank account within the first weeks after they arrive in The Netherlands. If you need a work permit, you won't be able to open the account until the permission for you to work has been granted and you have arrived in The Netherlands and registered with the authorities. This is because until that time, you won't have a sofi number. ↑ Top Will foreign residents be able to find banking services in their native languages? Foreign residents will be able to find banking services in their native languages, though there are few brochures and application forms available in foreign languages. The ABN Amro offers online banking in English. ↑ Top Are there any restrictions on services for those who are new to your country? No restrictions, but you won't be able to open an account if you are not legally allowed to live/work in The Netherlands ↑ Top What are typical banking hours? Most banks are closed Monday mornings. Opening times from Tuesday through to Friday are from 9 a.m. to 5 p.m. Some branches are open late on Thursday evenings or on Saturdays. There are branches of ABN Amro in Schiphol open from 7 a.m. until 10 p.m. from Monday to Sunday. ↑ Top Are automatic teller machines (ATMs) available around the clock? Yes. ↑ Top Is there any other money information that might help me? To pay for small items (or even for parking), many people use a form of rechargeable electronic purse called a chipknip. Loaded at the bank, a chipknip can be either a separate card or your regular bank card with this added feature. Usually there is a machine next to the ATM machine that says “chipknip.” The amount of money in your bank account determines what you can load onto your chipknip. ↑ Top IMPORTANT NOTE: Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Should you have any questions or need additional information, please contact your local Crown representative.