Business Banking for Expats
Whether you are a freelancer (ZZP) or founding a B.V., find the best English-first business accounts with fast digital onboarding.
Traditional Banks vs. Digital Providers
Opening a business account at a traditional Dutch bank (like ING or ABN AMRO) can involve more extensive checks and longer processing times, particularly for international founders with complex B.V. structures. Digital providers offer online-first alternatives and may provide a faster application process once your KVK registration is complete.
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Compare Business Accounts
| Feature | GoDutch | Revolut Business | Wise Business | Traditional Banks |
|---|---|---|---|---|
| Dutch IBAN (NL) | Yes | Yes | Varies by account | Yes |
| Money protection | Safeguarded via Swan | Lithuanian DGS (€100k) | Safeguarded | Dutch DGS (€100k) |
| Cash Deposits | — | — | — | Yes |
| Onboarding Speed | Fast (1 day) | Fast | Fast | Slow (Weeks) |
| Best For | Dutch-focused ZZP/B.V. | Global operations | Low-cost FX | Complex holding structures |
GoDutch
A Dutch business-account platform using Swan for regulated payment services. It offers fast digital onboarding once you have your KVK number, with direct integrations to Dutch accounting software.
Key Features
- Fast OnboardingGoDutch states you can open an account within 1 business day (requires valid KVK / Notary docs).
- Dutch IBAN (NL)Supports iDEAL and SEPA Instant for local transactions.
- Bookkeeping IntegrationsConnects directly to Moneybird, Exact, Twinfield & e-Boekhouden.
- Safeguarded FundsGoDutch uses Swan, a licensed electronic money institution. Swan says account-holder funds are safeguarded separately at BNP Paribas; if that safeguarding bank fails, the French FGDR provides an additional protection layer of up to €100,000 per eligible account holder.
Good to know
- Requires an active KVK number (and notary registration for B.V.)
- No cash deposits or branches
Revolut Business
A strong option for businesses that regularly work with international clients or currencies.
Key Features
- Local NL IBAN & iDEALRevolut Business now provides local Dutch IBANs and supports iDEAL payments.
- Multi-Currency MasteryManage and exchange multiple currencies at competitive exchange rates, with allowances depending on your plan.
- Corporate CardsIssue unlimited virtual and physical cards for yourself or your team with spend controls.
- API & IntegrationsIntegrates with Xero, QuickBooks, Slack, and provides a powerful API for custom workflows.
Good to know
- Stricter KYC requirements for certain high-risk business models.
- Current Dutch Revolut Business plans start at €10/month for Basic; no free Business plan is listed.
Wise Business
One of the most popular choices for expats and freelancers globally, known for highly transparent and low-cost currency exchange.
Key Features
- Multi-Currency AccountsHold balances in dozens of currencies and get local account details for international clients.
- Transparent FX FeesConversions use the mid-market exchange rate with low, upfront fees.
- Batch PaymentsPay up to 1,000 invoices or employees at once, ideal for growing businesses.
Good to know
- One-time setup fee usually required to open local account details.
- Limited Dutch accounting integrations compared to local providers like GoDutch.
How business balances are protected
The legal protection depends on the provider and the type of institution. A bank deposit-guarantee scheme and e-money safeguarding are different mechanisms:
Traditional Banks
Eligible deposits at Dutch banks such as ING or Rabobank are generally covered by the Dutch Deposit Guarantee up to €100,000 per depositor, per bank. Business eligibility and exclusions still depend on the depositor and product.
Digital providers differ
Revolut Business in the Netherlands is provided by Revolut Bank UAB and eligible deposits are covered by Lithuanian deposit insurance up to €100,000. Wise Europe is a payment institution rather than a bank and safeguards customer funds instead of using a deposit-guarantee scheme. GoDutch uses Swan, an e-money institution: funds are safeguarded at BNP Paribas, with Swan describing an additional FGDR layer up to €100,000 if the safeguarding bank fails.
Good to know before you apply
Do I need a KVK number first?
A common misconception is that you need a business bank account to register your company. In reality, it usually works the other way around. For most business accounts, you will need to have your business registered with the KVK first.
For a B.V. (Besloten Vennootschap), the bank may also ask for incorporation documents from your notary. Once your paperwork is in order, digital providers such as GoDutch or Revolut can often process your application faster than traditional retail banks.
ZZP vs B.V. applications
The onboarding process heavily depends on your legal structure. For a ZZP/freelancer, the application is generally simpler because there is no separate company structure or UBO structure to verify.
For a B.V., banks need to identify and verify the Ultimate Beneficial Owners (UBOs) as part of their legal customer due diligence requirements. If your B.V. has international shareholders or a complex holding structure, traditional banks may take longer to process these applications. Digital providers may offer a faster application process, but they still require detailed corporate documentation.
What if I am a non-resident founder?
Opening a Dutch business account as a non-resident can be more difficult. Banks assess factors such as your country of residence, business activities, company structure and the documentation you can provide.
As a non-resident, digital business platforms are often a practical route, but keep in mind that acceptance is never guaranteed and depends heavily on your specific situation and the bank's current risk appetite.