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Money matters


The Dutch currency is the euro. This European currency is valid in most eu countries. The currency is decimal; one euro is equivalent to 100 euro cents.

Money address

American Express
International (Head Office)
Hoogoorddreef 15
020 504 85 04
The Netherlands

Bank Notes and Coins

There are eight euro coins, in the following denominations: 1, 2, 5, 10, 20 and 50 euro cents. There is also a 1 and 2 euro coin. Most shops no longer accept the 1 and 2 euro cents. In most shops the amounts you pay are rounded up or down to the nearest €0.05. All coins have the same European design on one side, while the other side is different for each euro country. There are seven euro banknotes, of 5, 10, 20, 50, 100, 200 and 500 euros. 100, 200 and 500 euro bills are often not accepted. You can use euros from any of the euro countries.

Bank Accounts and Cash Dispensers

It might be useful to open a Dutch bank account during your stay. Your faculty contact person can tell you where to go and which documents you need. The major Dutch banks are ing, abn amro and Rabobank. Once you have opened an account, the bank will provide you with a bankcard, which you can use to withdraw money at cash dispensers/ATM machines (pinautomaten). You can also use your own bank card to withdraw cash. Just check if you have the same logo on your card as is on the ATM. Generally, banks are open on weekdays and between 09.00 and 19.00 hrs (ABN is open until 18.00 hrs), some are open on Saturdays too. There is 24-hour access to the cash dispensers and they can be found all over town.

Cash dispenser image

Changing Money

You can get euros using traveller’s cheques or by changing your own currency at exchange offices or banks anywhere in the Netherlands. You can also get euros by using your credit card (but keep in mind that this is quite expensive!). There is usually an exchange office in or near major train stations. The GWK (grenswisselkantoor) at Amsterdam Centraal Station, the official exchange office, is open 24 hours a day. There are several smaller exchange offices in the city centre as well, but because they are not linked to any of the major Dutch banks, they usually charge more commission. If you use American Express Travellers Cheques you can also go to their offices

Credit cards

Although credit cards are not used often in the Netherlands, they are one of the options when paying in stores and such. A credit card is used in the same way as a normal ATM card, the only difference is that you don’t pay straight away. The amount is later drawn from your bank account. In the Netherlands there are several banks that offer credit cards. For students there are, because of different incomes, special options when getting a credit card. This differs per person and per bank. It’s also a possibility to get a credit card from international companies like: Visa, MasterCard and American Express.