The Best Ways to Receive Money from Abroad in the Netherlands

The best ways to receive money from abroad in the Netherlands include multi-currency accounts (typically 1 business day arrival, low fees from 0.47%), traditional bank transfers (SEPA transfers 1-2 days free, international 3-5 days with €10-25 fees), Revolut and N26 (instant to 1 business day, competitive exchange rates), and Western Union/MoneyGram (instant cash pickup, higher fees 3-8%). Processing speed, transfer fees, exchange rate margins, security, and documentation requirements vary by method.

For expats in the Netherlands, international transfers are routine, getting paid for work, receiving support from home, managing income from abroad. After six years managing cross-border finances, I've learned that the method you choose dramatically affects how much arrives in your account and how quickly you can access it. The difference between a smart transfer choice and a default method can mean hundreds of euros in savings annually.

Before receiving money, understand that the amount arriving, how long it takes, and security all vary by provider. Knowing your options upfront prevents unpleasant surprises.

For comprehensive financial resources and expat connections, visit ExpatsList.org.

Key Factors When Receiving Money

Transfer Fees and Hidden Costs: Banks and services charge flat fees, percentages, or both. Intermediary banks may deduct extra amounts, leaving you with less than expected.

Exchange Rates and Margins: While mid-market rate is most transparent, banks often add margins, meaning you lose money without realizing it.

Processing Speed: Some transfers arrive in minutes, others take days. Instant transfers are often instant; international transfers typically arrive within one business day.

Documentation Required: Depending on the provider, you may share ID or proof of address. These checks prevent financial crime.

Security and Regulation: Look for licensed, regulated services in the Netherlands or EU. Your money is handled under strict safeguards with protection if something goes wrong.

Best Methods to Receive Money

Multi-Currency Accounts: Best for expats and freelancers needing simple ways to receive money in euros and foreign currencies without extra exchange fees. Multi-currency accounts receive money in the currency it was sent, avoiding needless exchange fees. Multi-currency services give you local account details (IBAN for EUR, sort code/account number for GBP, routing/account number for USD) so people can send money as domestic transfers. Fees: typically free to receive, exchange fees from 0.47% when converting currencies. Speed: EUR transfers within EU arrive same day or next business day, international transfers typically 1-2 business days.

Revolut and N26: Digital banks offering EUR IBANs and multi-currency support. Receive EUR transfers free, hold foreign currencies in sub-accounts. Fees: free for EUR SEPA transfers, competitive exchange rates when converting currencies. Speed: SEPA transfers arrive within 1 business day, often same day. Good for tech-savvy users comfortable with app-based banking.

Traditional Dutch Banks (ING, ABN AMRO, Rabobank): Receive EUR via SEPA transfers free. International transfers may incur receiving fees (€0-10) plus exchange rate margins (1-2% above mid-market). Fees: SEPA free, international €5-10 receiving fee plus exchange margins. Speed: SEPA 1-2 business days, international 3-5 business days. Best if you value in-branch support and traditional banking relationships.

PayPal: Widely used for international payments. Receive money in euros or foreign currencies. Fees: 2.9% + €0.35 for receiving commercial payments (personal transfers from family/friends often free within Europe). Currency conversion fees approximately 3-4% above mid-market rates. Speed: instant to PayPal balance, withdrawal to bank takes 1-3 business days. Convenient but expensive for large amounts.

Western Union and MoneyGram: Cash pickup services and bank transfers. Fees: vary significantly, typically 3-8% of transfer amount. Speed: often instant or same-day for cash pickup. Best for emergencies or recipients without bank accounts. Not cost-effective for regular transfers.

Browse more financial guides and expat resources on our blog page.

Receiving EUR from Within Europe (SEPA)

SEPA (Single Euro Payments Area) covers 36 European countries. SEPA transfers are free, arrive within 1 business day, and use simple IBAN account numbers. To receive SEPA transfers, provide your Netherlands IBAN (starts with NL) to the sender. No other information needed. Banks cannot charge receiving fees for SEPA transfers, it's free by law.

Receiving Money from Outside Europe

International transfers outside SEPA use SWIFT network. You'll need to provide your IBAN, BIC/SWIFT code (bank identifier), and bank name/address. Fees: receiving fees €5-15 depending on your bank, sender pays sending fees, intermediary banks may deduct amounts. Exchange rates: if receiving non-EUR, banks apply exchange margins typically 1-2% above mid-market rate. Speed: 3-5 business days typically, sometimes longer from certain countries.

Multi-currency services and digital banks often have lower fees and better exchange rates than traditional banks for international transfers.

Receiving Large Amounts

For large transfers (€10,000+), exchange rate margins become extremely expensive. A 2% margin on €50,000 costs €1,000. Specialized currency exchange services (OFX, CurrencyFair, Atlantic Money) offer better rates than banks, typically 0.1-0.8% margins versus 1-2% from banks. Speed comparable to regular bank transfers (1-3 business days). These services focus specifically on currency exchange, offering competitive rates for large amounts.

Tax Implications of Receiving Money

Netherlands tax authorities monitor international transfers. Receiving regular income from abroad may require tax reporting. Gift tax (schenkbelasting) applies to gifts from family/friends exceeding thresholds. Inheritance tax applies to inheritances received. Consult a tax advisor if receiving significant amounts to understand reporting obligations and potential tax liabilities.

Security Tips

Only share account details with trusted senders. Never share online banking passwords or authentication codes. Verify sender identity for unexpected transfers, scams exist. Use regulated, licensed money transfer services. Keep records of all international transfers for tax purposes.

To connect with expats or list your business, visit ExpatsList.org.