If you have decided to establish a company in the Netherlands and embark on a growth journey by realising your Startup idea, opening a commercial bank account in the Netherlands is important. Especially if you are an entrepreneur from another country who wants to establish a Startup in the Netherlands, opening a business bank account is very important for both the legitimacy of your business and the ease of collection and payment processes. Don't worry; this process becomes easier with the useful information we have compiled for you as Unusual Companies. As Unusual Companies, a trusted service provider in establishing and growing companies in the Netherlands, in this blog, we will explain how to open a business bank account in the Netherlands.

Who must open a business bank account in the Netherlands?

As stated on Business.gov.nl, the Dutch government guides those who want to start a business in the Netherlands and operate actively in the country. You do not need to create a new account if you already have a business bank account within the SEPA Area (Single Euro Payments Area). When you open a commercial bank account in the Netherlands, you can carry out your national and international money transfers, payment receipts and payment distribution processes with the IBAN given to you. On the other hand, many companies expect the Dutch company they are dealing with to have a local IBAN starting with the NL code and accept this as an element of trust.

Requirements for opening a business bank account in the Netherlands

Interbank transactions and banking processes in the Netherlands are carried out by the Dutch Banking Association (Nederlandse Vereniging van Banken). This organisation then evaluates whether you can open a business bank account in the Netherlands. The Dutch government has developed a system called Quick Scan so that foreign investors and entrepreneurs can easily meet commercial bank requirements during the company establishment process in the Netherlands. Quick Scan is a special system for entrepreneurs registering with the Dutch Chamber of Commerce and applying for a residence permit in the Netherlands. In this context, filling out a form, the details of which we will cover in the next section, and submitting the information of your consultant at the Dutch Foreign Investment Agency or your qualified start-up facilitator, if any, to the NVB will facilitate the processes for you.

The documents requested from foreign entrepreneurs who want to open a commercial bank account in the Netherlands are listed as follows:

  • Quick Scan Dutch business bank account application form and Standard Application Form
  • Digital copy of NFIA contact letter or Startup Facilitator Agreement (if applicable)
  • Fatca Investor Declaration Form
  • Bank preference

To use Quick Scan, the company must be supported by NFIA or work with a Startup facilitator as part of its Startup Visa Program. Otherwise, Quick Scan cannot be used.

How to open a business bank account in the Netherlands?

If you are a Startup supported by NFIA or working with a Startup Visa facilitator, follow these steps to apply for a business bank account in the Netherlands:

  • Fill out the Quick Scan form. In this form, you must declare information such as the person to be contacted, the Dutch legal company name, the Dutch legal business address, the Dutch Chamber of Commerce KVK number, annual income expectations, and the Dutch Business Plan details.
  • Prepare a digital copy of the letter prepared by your advisor at the Dutch Foreign Investment Agency or your contract with the Startup facilitator.
  • Send the digital version of the form and letter or contract to the bank of your choice. You can choose one of the banks: Rabobank, ABN AMRO, or ING.
  • When you complete these steps, and your Quick Scan documents reach the bank, your bank will notify you within 5 hours about your eligibility to open a business bank account in the Netherlands.

What are the best business bank accounts in the Netherlands?

As the Dutch Banking Association states on its official website, if you are a foreign entrepreneur who wants to open a commercial bank account in the Netherlands, there are four banks you can choose. These banks are Rabobank, ABN AMRO, BUNQ and ING. While Bunq stands out with its digital banking identity, we can summarise the details of the other 3 traditional banks for you as follows:

Rabobank: Rabobank, a cooperative bank, aims to become a world-leading bank in food and agriculture. Applications for a commercial bank account at Rabobank, which has more than 8.3 million customers, can be made online with a user-friendly experience.

ABN AMRO: Headquartered in Amsterdam, ABN AMRO is one of the leading banks in the Netherlands, offering retail, private and corporate banking services. Known for its mobile and internet banking competencies, ABN AMRO works with the mission of "reinventing the customer experience\”.

ING: In many markets, ING is known for its strong financial position, international network and sustainability competencies. ING operates with the vision of financially empowering individual and commercial users and ensuring that these users can access financial services anytime, anywhere.


Let Unusual Companies complete all the processes for you

Unusual Companies can carry out processes such as Quick Scan on your behalf, making your bank account opening process much easier. With our multilingual staff who can support clients in English, Dutch, Turkish, and Afrikaans, just to name a few, we can serve you in your language while communicating with the bank in Dutch, ensuring no misunderstandings during your Business Bank Account application process. What you need to turn your Startup idea into an active business in the Netherlands is offered with Unusual Companies' comprehensive service offerings. Contact us today for detailed information.