Best way to receive money from abroad in the Netherlands
Receiving money from overseas is common for expats, international professionals, and families living in the Netherlands. However, the method you choose can affect how much money arrives, how long it takes, and how secure the process is.
This guide explains the main ways to receive money from abroad in the Netherlands, focusing on costs, safety, and convenience, so you can choose the option that best fits your situation.
Table of contents
- What you need to know before receiving money from abroad
- Key factors to consider
- What bank details are needed to receive money?
- Comparison Table: Best ways to receive money from abroad
- 6 Best ways to receive money from abroad in the Netherlands
- Step-by-step guide: How to receive money from abroad
- How can I receive money safely?
- What is the cheapest way to receive money?
- Tips to minimise costs when receiving money from abroad
- Common problems and how to solve them
- Conclusion
What you need to know before receiving money from abroad
Before receiving money from another country, it’s important to understand that fees, processing times, and exchange rates can vary significantly depending on the provider used. Two transfers for the same amount can result in different final amounts reaching your account.
Knowing the basics in advance helps you avoid unexpected costs, delays, or compliance issues.
Key factors to consider
Transfer fees and hidden costs
Banks and transfer services may charge fixed fees, percentage-based fees, or both. Intermediary banks can also deduct charges without notice, reducing the final amount you receive.
Exchange rates and margins
Some providers apply a markup to the exchange rate. Even a small margin can significantly reduce the value of larger transfers.
Processing speed
Transfers may take anywhere from minutes to several business days, depending on the method used and the countries involved.
Required documentation
Providers may request identification or proof of address to comply with anti-money laundering regulations. These checks are standard and help keep the financial system secure.
Security and regulation
Always use providers that are licensed and regulated in the Netherlands, the EU, or other reputable jurisdictions.
What bank details are needed to receive money?
To ensure international transfers arrive correctly, the sender will usually need:
- Your full name as registered on the account
- Your IBAN (International Bank Account Number)
- Your bank’s BIC/SWIFT code
- Your account number (if IBAN is not used)
- Bank name and address (sometimes required for SWIFT transfers)
- Contact details for verification, if requested
- A payment reference, if provided by your bank or service
Providing accurate details helps avoid delays or failed transfers.
Comparison Table: Best ways to receive money from abroad
| Method | Typical fees | Processing time | Limits | Best for | Security level |
|---|---|---|---|---|---|
| Multi-currency accounts | Often free to receive with local details | Instant to 1 day | High or none | Expats, freelancers | High |
| Bank wire transfers | Sender/intermediary fees may apply | 1–5 business days | Often high | Large transfers | Very high |
| Online transfer services | Fees shown upfront | Minutes to days | Flexible | Regular transfers | High |
| Digital wallets | Conversion/withdrawal fees | Instant to wallet | Low–medium | Small payments | High |
| Cash pickup services | High fees and FX markups | Minutes–hours | Limited | Urgent cash needs | Medium–high |
| International money orders | Fixed fees | Days–weeks | Low | Rare use cases | Medium |
6 Best ways to receive money from abroad in the Netherlands
1. Multi-currency accounts (Wise, Revolut)
Best for: Expats, freelancers, and people regularly receiving money in foreign currencies.
Multi-currency accounts allow you to receive funds in the original currency, helping avoid unnecessary conversions.
- Wise provides local account details for several major currencies, allowing transfers to arrive as domestic payments.
- Revolut allows users to receive and hold multiple currencies within one account.
Fees: Often free for domestic-style transfers
Speed: Instant to one business day
Exchange rates: Vary by provider
Limits: Generally high
Safety: Licensed and regulated providers
2. Bank wire transfers
Best for: Large amounts and people using traditional Dutch banks.
International wire transfers use systems such as SWIFT or SEPA. SWIFT transfers may pass through intermediary banks, each potentially deducting fees.
Dutch banks are highly secure and reliable, though exchange rate markups can increase costs.
Fees: Vary by bank and currency
Speed: SEPA: ~1 business day; SWIFT: 2–5 days
Exchange rates: Bank margins often apply
Limits: High
Safety: Very high
3. Online money transfer services (Wise, Remitly)
Best for: Fast transfers with clear pricing.
Online transfer platforms reduce reliance on intermediary banks, often lowering overall costs.
- Wise focuses on transparent fees and real exchange rates.
- Remitly offers fast and economy delivery options depending on urgency.
Fees: Shown upfront
Speed: Minutes to a few days
Exchange rates: Provider-dependent
Limits: Vary by service
Safety: Regulated with fraud protection
4. Digital wallets (PayPal, Skrill)
Best for: Small, informal transfers and online payments.
Digital wallets allow instant transfers between users, but conversion and withdrawal fees can be high.
- PayPal
- Skrill
Fees: Often ~3% for conversion or withdrawal
Speed: Instant within wallets
Limits: Lower than bank transfers
Safety: Strong consumer protection for purchases
5. Cash pickup services (Western Union, MoneyGram)
Best for: Recipients without bank accounts or urgent cash needs.
Cash pickup services allow funds to be collected at physical locations.
- Western Union
- MoneyGram
Fees: Generally high
Speed: Minutes to hours
Limits: Often capped
Safety: Regulated, but cash handling carries risk
6. International money orders
Best for: Rare situations where electronic transfers are unavailable.
Money orders are slow, costly, and increasingly uncommon in the Netherlands.
Fees: Fixed purchase and processing fees
Speed: Several days to weeks
Limits: Low
Safety: Funds prepaid, but postal risks apply
Step-by-step guide: How to receive money from abroad
Step 1: Choose your method
Decide whether speed, cost, or convenience matters most.
Step 2: Prepare your details
Collect IBAN, BIC/SWIFT, and account information.
Step 3: Share accurate information
Ensure names and numbers match exactly.
Step 4: Track the transfer
Use tracking tools or notifications if available.
Step 5: Verify receipt
Confirm the amount and check for fees or exchange differences.
How can I receive money safely?
- Use licensed and regulated providers
- Double-check account details before sharing
- Enable security features such as two-factor authentication
- Monitor transfers until funds arrive
- Be cautious of scams and unusual requests
What is the cheapest way to receive money?
Costs vary depending on fees and exchange rates. Bank transfers may appear free but often include hidden exchange margins. Services that show fees upfront and apply transparent rates generally make it easier to predict how much will arrive.
Tips to minimise costs when receiving money from abroad
- Compare exchange rates, not just fees
- Avoid unnecessary currency conversions
- Use providers with clear pricing
- Receive money in the original currency when possible
- Plan transfers when timing is flexible
Common problems and how to solve them
Transfer delays
Often caused by intermediary banks or holidays. Contact the provider if delays exceed expected timelines.
Missing payments
Usually due to incorrect details. Request a payment trace if funds don’t arrive.
Unexpected exchange rates
Hidden margins can reduce received amounts. Use services that disclose rates upfront.
Documentation requests
Keep digital copies of ID and proof of address ready to avoid delays.
Conclusion
For expats and international residents in the Netherlands, receiving money from abroad is part of everyday life. The right method depends on how often you receive funds, the amounts involved, and how quickly you need access.
Traditional banks offer reliability for large sums, while multi-currency accounts and online transfer services provide flexibility and clearer pricing. Digital wallets and cash pickups remain useful in specific situations, but often at a higher cost.
Choosing a method that balances cost, speed, and security helps ensure your money arrives safely and with fewer surprises.