Netherlands: Global Payments Guide
- Supported currencies receiving(EUR, USD, GBP)
- Supported currencies sending(EUR)
- Delivery time: {1-2 working days (SEPA), 1-5 working days (SWIFT)}
- Supported by : (SWIFT, SEPA)
The Netherlands is highly welcoming to foreign entrepreneurs, with over 1,000 new businesses setting up operations each year. To help you navigate business transactions, we’ll explore the payment options available and the supported payment networks in the Netherlands.
Payment networks available in Denmark
Now that we’ve discussed the fees, let’s look at the payment networks available for sending money to the Netherlands.
iDEAL is a widely used online payment method in the Netherlands. Introduced in 2005, it enables real-time bank transfers directly between accounts. Its integration with major Dutch banks ensures that businesses supporting iDEAL can access nearly the entire Dutch market.
SEPA (Single Euro Payments Area) Direct Debit is a European payment system enabling direct debits in euros. Dutch businesses can use it for both making and collecting payments across Europe. It standardizes the process, making transactions to and from the Netherlands more predictable and straightforward.
SWIFT is a global messaging network that banks and financial institutions use to securely exchange information. For Dutch businesses handling international transactions, SWIFT is essential for secure and standardized cross-border payments. Costs for SWIFT payments can reach up to $25 with most providers.
Bancontact, primarily used in Belgium, is also recognized in parts of the Netherlands, especially near the Belgian border. It supports both card-based transactions and direct online transfers, making it a useful option for B2B businesses in these regions or with Belgian partners.
How much does it cost to send money to the Netherlands?
First things first, let’s go over the fees. Depending on which method you use to send money to the Netherlands, you may face additional charges such as:Â
- Outgoing transfer fees
- Receiving fees
- Initiation fees
- Exchange rate costs
Sending an international transfer usually incurs a flat fee, often between £20-£40 with UK banks. At 3S Money, our fees depend on your account type: SEPA/local transactions cost between $5 and $0.50, SWIFT outgoing transfers range from $20 to $1, and SWIFT incoming transfers are $10, with no fee for Enterprise and Enterprise Plus accounts. For more details, check our fees and pricing.
What payment methods are supported in the Netherlands?
Several B2B payment methods are popular in the Netherlands:
Bank Transfers: Common within the SEPA area for their transparency, security, and low costs. Online banking makes executing and tracking transfers easy.
Credit and Corporate Cards: While more common in B2C transactions, cards from networks like Visa, Mastercard, and American Express are also used in B2B transactions, especially internationally.
Digital Invoicing: E-invoicing, including solutions like PEPPOL, simplifies and speeds up transactions, reducing administrative overhead and ensuring compatibility across Europe.
Why choose 3S Money for sending money to the Netherlands?
With 8S Money’s multi-currency business accounts, companies can simplify cross-border transactions and avoid the typical issues of traditional banking systems.
For Dutch businesses engaged in global trade and export, 8S Money offers significant advantages:
- Streamlined Transactions: Effortlessly manage cross-border payments with fewer barriers.
- Cost Efficiency: Benefit from lower fees compared to traditional banks.
- Flexibility: Handle transactions in multiple currencies with ease.
- Speed: Enjoy faster payment processing and reduced delays.
Need more information? Reach out to us, and we'll be happy to assist you.
Our team is here to guide you through the process of opening your business account, all without needing to step into a bank. We speak over 12 languages, so let us know if you’d like to schedule a call in your native language.
