Students who will live in the Netherlands for a longer period of time are advised to open a Dutch bank account for the following reasons:
- Scholarships administered by the University of Twente will only be transferred to a Dutch bank account.
- With a Dutch debit card you will be able to pay small amounts (“PIN payments”) such as copy services at the university library.
- You can purchase train tickets at the NS vending machines located at the railway station rather than using the office there – which is more expensive and not always open.
- For visa students: If you wish to pay your tuition fee in installments (after your first year) then these amounts can only be withdrawn from bank accounts with an IBAN number.
Currently there are some new regulations being introduced which do not allow students to open up a regular Dutch bank account without a BSN number. After you have registered at the municipality a BSN number will be provided to you in approximately two weeks. If you wish to make an appointment to open up a bank account, please bring the BSN number with you, along with your passport and a proof of enrolment from the university.
Bunq bank offers an online bank account without needing the BSN number straight away. The bank account will be ready in one day. For scholarship recipients and minors this is a good option, although the costs are higher than those of other banks. However you will have to do everything online; there are no branches available to go to.
The following banks have offices in Enschede city center and offer student packages free of charge (website in English);
· ABN AMRO
Please note it may take several weeks after your arrival before you can use your Dutch bank account. Make sure you bring enough money to be able to afford your living expenses during your first month in the Netherlands.