By Rick | rentinholland.nl | Last updated: June 2026
If you are moving to the Netherlands, one of the first practical problems you hit is how to send money to the Netherlands from your home country. You often have to pay a deposit and your first month of rent before you even have a Dutch bank account, and the amounts are large enough that the wrong method quietly costs you a few hundred euros in fees and exchange-rate markups you never really see.
This guide explains how international transfers actually work, what they really cost, and the most practical ways to move money for rent, a deposit, your salary, or everyday life as an expat. The aim is simple: get your money here safely, on time, and without paying more than you need to.
This article is for informational purposes and is not financial advice.
Why sending money across borders costs more than it looks
The fee a provider shows you is rarely the real cost. The bigger cost is usually hidden in the exchange rate. Banks and many transfer services quote you a rate that is slightly worse than the real one, the mid-market rate you see on Google, and they keep the difference. On a 2,000 euro deposit, a markup of two or three percent is forty to sixty euros gone quietly, on top of any visible fee.
So the single most useful habit when you move money is this: compare how many euros actually arrive, not the headline fee. A transfer advertised as “no fee” can easily be the most expensive option once a poor rate is baked in. Once you start thinking in terms of the amount that lands in the recipient account, the comparison between providers becomes a lot clearer.
How euro transfers work: IBAN, BIC and SEPA
The Netherlands uses the euro and is part of SEPA, the Single Euro Payments Area. SEPA is the system that makes euro transfers between European countries cheap, fast, and standardised. If you are sending euros from another SEPA country, which covers most of Europe, a transfer is usually free or nearly free and arrives within one business day. Many banks now also offer instant SEPA payments that arrive within seconds.
To send a payment you need the recipient IBAN, the international account number (Dutch ones start with NL), and sometimes the BIC, which is the bank code. Just as important is the payment reference: a short note that tells the recipient what the money is for. For rent, that is usually your full name plus the rental address or contract number, so your landlord can match the payment to you.
Sending from outside the eurozone, for example from the UK, the US, or further afield, is where currency conversion comes in, and where the hidden costs above matter most. That is also where choosing the right method makes the biggest difference to your wallet.
The best ways to send money to the Netherlands
Broadly, you have three routes, and they differ a lot in cost and speed.
Your own bank. This is the easiest option but often the most expensive. Traditional banks tend to combine a transfer fee with a marked-up exchange rate, and international payments can be slow. It is fine for a small one-off if you do not mind paying for convenience, but less ideal for a large amount like a deposit, where the markup really adds up.
Specialist transfer services. For most expats these are the most cost-effective choice. They typically use the mid-market exchange rate and charge a clear, upfront fee, so you can see exactly how much will arrive before you send. Wise is the service most expats in the Netherlands use, and it is a sensible default for that reason; Revolut and a handful of others work on a similar principle. Whichever you choose, the real value is transparency: you know the rate and the fee in advance, with nothing hidden in the exchange rate.
Multi-currency accounts. If you expect to move money back and forth for a while, a multi-currency account lets you hold euros and other currencies in one place and convert when the rate suits you. Several of the specialist services above offer this alongside one-off transfers, and some give you local euro account details you can start using straight away, which is handy before a Dutch bank account is set up.
How to avoid losing money on fees and exchange rates
A few simple habits save real money. Check the mid-market rate first by searching “your currency to EUR” so you have a reference point. Then compare providers on the total amount that lands in euros, not the advertised fee. Be wary of “no fee” offers that hide their margin in a poor rate. For a large transfer like a deposit, even a small percentage difference is worth a few minutes of comparison.
And give it time. Transfers from outside the eurozone can take anywhere from one to several business days, and weekends and bank holidays add delays. Starting early is the easiest way to avoid a missed deadline and an anxious landlord, and it gives you room to fix anything that goes wrong, like a mistyped IBAN.
Paying your first rent and deposit from abroad
This is the classic expat squeeze: the landlord wants the deposit and first month of rent before you arrive, but you do not have a Dutch bank account yet. The good news is you do not need one. You can pay directly to the landlord Dutch IBAN from your home bank or a transfer service.
Two things matter most. First, the reference: always include your full name and the rental address or contract number, so the payment is matched and there is never a dispute later about whether it arrived. Second, timing: start the transfer early enough that the money clears before the deadline, especially from outside the eurozone.
Keep proof of every payment. A deposit is your money, and Dutch law strictly limits what a landlord may keep. If you want to know exactly what can and cannot be deducted, see our guide to rental deposit rules in the Netherlands. And if a landlord ever refuses to play fair, our overview of where to get tenant help in the Netherlands shows which official bodies can step in.
A quick word on safety: avoid rental payment scams
Because expats often pay from abroad for a home they have not seen in person, rental scams are sadly common. The pattern is almost always the same: an attractive listing, a landlord who cannot meet or do a viewing, and pressure to transfer a deposit quickly to secure the place. Once the money is sent across borders, it is very hard to get back.
Protect yourself with a few rules. Never pay a deposit before you have verified the landlord and ideally seen the property, in person or through a trusted contact or a live video viewing. Be suspicious of prices that look too good and of anyone rushing you. And use a payment method that gives you a clear record. A legitimate landlord will understand these precautions; a scammer will push back against them.
Getting your deposit back to a foreign account
When your tenancy ends, your deposit should be returned, usually within a couple of weeks, with deductions only for genuine, documented damage. If you have already left the country, you can ask the landlord to refund it to a foreign account. Give them your IBAN, and the BIC if needed, in writing, and keep a copy of the request and any reply.
If the refund stalls or the landlord makes vague deductions, you are not stuck. The same official routes that protect tenants on other issues apply here too, and a written paper trail makes your case much stronger.
Receiving money and opening a Dutch account
Once you are settled, opening a Dutch bank account, or using a multi-currency account with Dutch details, makes receiving your salary and paying rent by direct debit far simpler. Many specialist services give you local euro account details quickly, which can bridge the gap while a traditional Dutch account is being set up. For the bigger picture of getting established as a tenant here, start with our complete guide to renting in the Netherlands.
Key takeaways
- The real cost of an international transfer is usually the exchange-rate markup, not just the visible fee.
- Within the eurozone, SEPA transfers are cheap and fast; from outside, conversion costs are what to watch.
- Specialist transfer services like Wise are usually cheaper and more transparent than a traditional bank.
- Always compare the euros that actually arrive, and add a clear payment reference.
- For rent and deposits, start early, verify the landlord, and keep proof of every payment.
Frequently asked questions
What is the cheapest way to send money to the Netherlands? Usually a specialist transfer service that uses the mid-market exchange rate with a clear upfront fee, rather than a traditional bank. Within the eurozone, a normal SEPA transfer is cheap or free. Always compare the total amount that arrives in euros.
Can I pay my Dutch rent and deposit before I have a Dutch bank account? Yes. You can transfer directly to the landlord Dutch IBAN from your home bank or a transfer service. Include your name and the rental address as the reference, and start early so it clears before the deadline.
How long does a transfer to the Netherlands take? SEPA transfers within the eurozone usually arrive within one business day. Transfers from outside the eurozone can take one to several business days, depending on the provider and currency.
What is an IBAN, and do I need a BIC? An IBAN is the international bank account number; Dutch ones start with NL. For SEPA transfers the IBAN is usually enough, though some banks or non-euro transfers also ask for the BIC, the bank code.