The Netherlands has a pro-business outlook, welcoming foreign entrepreneurs and investors from around the globe. With over 1,000 new businesses choosing to set up operations in the Netherlands each year, many will want to know what payment options are available when it comes to making business transactions. We'll delve into those shortly, bu first, let's explore the payment networks that are supported in the Netherlands.
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:
- Outgoing transfer fees
- Receiving fees
- Initiation fees
- Exchange rate costs
What payment networks are available in the Netherlands?
Now that we’ve covered the fees, let’s move on to what payment networks are available for sending money to the Netherlands.
iDEAL is one of the most popular online payment methods in the Netherlands. Launched in 2005, it offers a real-time bank transfer system that allows businesses to make payments directly between bank accounts. The strength of iDEAL lies in its integration with the major Dutch banks, which means that if a business supports iDEAL payments, it can reach almost the entirety of the Dutch market.
SEPA Direct Debit
SEPA (Single Euro Payments Area) Direct Debit is a European-wide payment system that allows for the direct debit of euro transactions. Dutch businesses can utilise this system to make payments as well as collect payments from their European partners.
This system standardises the direct debit process across the participating countries, making transactions to and from the Netherlands more predictable and straightforward.
Though primarily associated with Belgium, Bancontact is also recognised and used in parts of the Netherlands, especially in regions close to the Belgian border. As a dual payment system, it supports both card-based transactions and direct online transfers. B2B businesses operating in these regions or with Belgian partners might consider offering Bancontact as a payment method.
SWIFT is a global messaging network used by banks and financial institutions to securely send and receive information.
For Dutch businesses making international transactions, SWIFT is an indispensable tool. The system ensures that cross-border payments are both secure and standardised. With most providers, it can cost businesses anywhere up to $25 for SWIFT payments but with a 3S Money International Business Account, it costs only $1 to send and $0 to receive payments using SWIFT. Get started with your account today.
What payment methods are supported in the Netherlands?
- United Kingdom (UK)
Credit and corporate cards
Currencies supported by 3S Money
Why choose 3S Money for sending money to the Netherlands?
- Quick transfers
- Transparent fees
- Multi-currency support
- Dedicated account manager
- Regulatory compliance (3S Money is FCA , DFSA and CSSF registered)
- Accounts tailored for each international businesses