Best Way to Transfer Money to a Dutch Bank Account?

Want to transfer money to (or from) a Dutch bank account or to friends, co-workers, or family overseas? Just know that the response isn’t “there’s an app for that,” so much as “which app do I use?”

That’s because there’s a whole array of money transfer companies that specialize in moving money digitally, on a global scale. The great thing about online money transfer companies is that, in the vast majority of cases, they are less costly than wiring funds to or from a Dutch bank account.

For instance, traditional banks in the Netherlands charge up to a 3% fee for transfers going from within the Eurozone to outside it, and may even charge more for the exchange rate.

Be Mindful of “Low Transfer Fees”

And just be mindful – there are times when banks offer “low transfer fees”, but make up the difference by overcharging on the currency exchange. (Not to put too fine a point on it, there are also times when the originator bank will not inform you that the receiving bank will charge a fee to the recipient to accept the cash).

For instance, on every car or mortgage payment you make outside the eurozone, there’s an additional 3% charge through traditional bank options. On average, if you send €1000 a month, that could add up to €36 a year just on fees alone.

There are better options, and they take the form of services you can easily access through apps. Choosing the right service depends on how important certain factors are to you, so make the decision that’s right for you.

While most companies in this sphere offer competitive exchange rates, transfer speeds may vary depending on the currency or destination. Some may take minutes; others may take a couple of days.

It is important to know which companies have more customer ratings, have won awards, or offer a flat-rate transfer fee versus a percentage. Some companies are renowned for their customer service, letting you reach them via email, phone, or online chat; others might not be so versatile.

Minimum and Maximum Transfers

Still another question is what their minimum or maximum transfer rate is – in other words, whether they’ll send $100 just as easily as $10,000? Again, it all depends on your preferences and needs.

(Note that transferring money between SEPA Euro accounts doesn’t normally cost anything, so transfer apps are good for currencies outside of the Eurozone.)

There are many reasons why so many are opting for online money transfer services. Have a peek at these popular choices, and what they have to offer:

Xe.com

A Canada-based company, XE.com, was ranked among the top 500 sites worldwide by traffic in 2013 and among the top 100 traffic sites in Ireland, South Africa, and the UAE.

In 2018, XE claimed that its services attracted over 285 million unique visitors.

They claim to offer better rates than US banks such as Chase, Citibank, and Bank of America, with no fees. There are no monthly charges to have an account with them, no fees for money received, and no transfer fees for forex transactions.

However, they do note that a third-party bank may charge a fee when transferring money to their service. They boast a 5/5 rating on Trustpilot and processed $74B USD in currency transactions in all of 2018. They are also publicly traded on the NASDAQ under the ticker symbol EEFT.

TorFX

Winner of several customer service awards, it is used equally for business and personal use. You can transfer as little as £100 without a fee.

Other advantages include their guarantee to beat any competitor’s exchange rate, and you can also request that the transfer be made at a time when the rate is more favourable to you.

They’ve earned a slew of accolades. In 2016, 2017, 2018, and 2019, they won International Money Transfer Provider of the Year at the Moneyfacts Consumer Awards. And for two years straight, they won Best Customer Service, besting a hundred companies in more than two dozen categories. (Front and center on their website are that they have a “dedicated customer support team” to assist with any problem so that your transaction fits precisely with what you’re looking for.)

Since opening in 2004, they have expanded to include offices in the United Kingdom, mainland Europe, Australia, and America, with nearly 500 employees. They have transferred in excess of 6 billion pounds in foreign exchange and international payments per year, and hold the highest credit rating with Dun & Bradstreet. Currently, they have served more than 50,000 private clients and more than 5,000 corporate clients.

Their versatility and customer service are what their customers rave about, as they can handle everything from wages and payroll to pensions, property payments, and travel costs.

Profee: A Convenient Money Transfer Option for Expats in the Netherlands

Among the various services available for international money transfers from the Netherlands, Profee stands out for its ease of use, transparent pricing, and competitive exchange rates. The service is particularly popular among expats who regularly send money home — including to countries such as India, Pakistan, Nigeria, Kenya, the Philippines, Romania, Bangladesh, Brazil, and others.

Profee enables users to send money from the Netherlands and other EU countries to over 95 countries worldwide. Transfers can be funded via EU-issued bank cards or through Apple Pay and Google Pay, and in many cases, the funds are delivered instantly to the recipient’s bank account. Notably, recipients do not need to register or install any apps — they simply receive the money directly in their account.

For new users, Profee offers a special welcome package: a zero-fee transfer combined with a promotional exchange rate on the first transaction. This makes it an attractive option for those testing out the platform for the first time. For regular use, Profee continues to offer market-beating rates and a transparent fee structure, helping users minimize hidden costs and maximize the value of their remittances.

The platform is available as both a mobile app for iOS and Android and a desktop version, offering flexibility across devices. Registration is quick and simple — it only takes a few steps to set up an account and start sending money.

Another feature that appeals to expats is Profee’s referral program. Starting February 1st, 2025, users can invite friends to try the service and get rewarded. When your friend makes their first transfer of at least €200 to one of several eligible countries — including India, Uzbekistan, Kyrgyzstan, Tajikistan, Kenya, Nigeria, the Philippines, Brazil, or Pakistan — they receive €10, and you earn €25. There’s no limit on how many people you can invite, making it a great way to share a helpful tool and earn rewards.

Founded in 2017 and headquartered in Nicosia, Cyprus, Profee is licensed to operate across the European Single Market. It has been recognized as the Best Global Transfer Company by Acquisition International and holds international security and authentication certifications that meet European standards. Today, the service supports individuals and families managing cross-border financial lives in 95+ countries.

TransferWise

Transferwise boasts four million customers globally. What’s cool is that many people are choosing WISE (formerly Transferwise) for transactions in Europe instead of IBAN. Yes, a normal bank transfer using an IBAN is free and can be done in your bank app (like WISE) and takes about a day. Yet there are differences.

WISE, for one example, pegs its exchange rate to the mid-market rate (so it’s not an arbitrary number, according to them, it’s the “real rate”). That number is available on their website. The small transfer fee is calculated as a percentage of the funds transferred.

With some 43,000 reviews on Trustpilot and a five-star rating, they have been trusted with money transfers, e-commerce, and bill payments the world over.

Creating an account is free and takes minutes – and in a few exceptions, a couple of days for additional verification. The recipient of the funds does not need a WISE account; they only need to provide their banking details to receive the funds.

Meanwhile, bunq users will be pleased to know that the company has recently partnered with TransferWise. So that means if you are a bunq customer, you can automatically use WISE to transfer funds internationally in a variety of currencies. It’s up to 8 times cheaper than traditional banks and does not charge foreign exchange fees on transfers, thanks to its ZeroFx system. This also applies to ATMs as there are no ATM withdrawal fees when you are traveling abroad. WISE is available directly via the bunq app

CurrencyFair

With CurrencyFair, not only do they offer fast, secure fund transfers, but their USP is also a peer-to-peer market where people can buy and sell currency with each other. It’s good if you’re not in a rush and don’t mind waiting. It’s a really competitive rate from other users. They can provide international transfers in 19 global currencies. Funds transfers could take anywhere from one to five days, depending on the currency. They are rated 9.4 out of 10 by more than three thousand customers on the review site Trustpilot.

Xoom

Now owned by PayPal, enables users to send and receive money in over 150 countries. With a click, any exchange rate is viewable in real-time. Pay bills, reload phones, or send funds to someone you’re close to. Deposit to a Euro bank account in the Netherlands, 24 hours a day, 365 days a year, including ABN AMRO, ING, and Rabobank. Most money transfers are available within 2 business days.

There are daily maximums for sending funds, and a chart is laid out on their website. Most transactions of Є8,000 or more require several ID checks. Fees vary depending on the recipient’s location, the amount sent, the payment method, and the currency. If you’re looking for an instant, straightforward answer, you might be disappointed.

Your recipient can have money hand-delivered, available for pickup, or deposited directly (options vary by country). You can pay using your bank account, debit card, or credit card.

Transfermate

Transfermate is yet another option, though many might feel reticence when they learn there are fees for transfers under €5000. But what they promise is that you can send and receive funds internationally, as though they were domestic. They serve 162 countries and in 134 currencies (so basically, everywhere). By this year, it was ninth; they had transferred €10 billion. Deloitte dubbed them a finalist for Fintech Company of the Year; they have won the Ernst & Young Entrepreneur of the Year Award and the HSBC European Business Award, among scores of other awards. A nice advantage is that you can request that they notify you when the exchange rate for a specific currency reaches its lowest level. They are backed by an €2 m investment from ING.

FairFX

The 11-year-old company has won several awards and has nearly 9,000 reviews on TrustPilot. Transfers are no cost over £100. They promise the lowest online rates compared to their competitors.

WorldRemit

WorldRemit says that after nine years, they have in excess of 120,000 5-star reviews, employ 700 people across six continents, and can send funds to about 145 countries (and from over 50). On their mobile platform, they claim that 70% of transfers take less than 3 minutes. They also offer a cash pickup in some areas.

If you’re at all interested in the gender pay gap, under UK law, WorldRemit has to report on it annually and make the report publicly available. CNN, The New York Times, BBC, and The Guardian have all written about the company, and they have won various awards.

currencyevolve.com

currencyevolve.com says they provide around-the-clock currency specialists, in person or over the phone, free of charge. They monitor market movements and work directly with clients to provide the best possible exchange rate with quick service. They claim they will beat any bank’s rate and send the money to an overseas account the same day. It also offers investment solutions for clients, claiming that their hedging solutions work to minimize risk and maximize profit for businesses, whether they are looking to keep costs of foreign exchange low or profit on market trends.

Established in Spain in 2001, they now have branches across Europe.

Western Union money transfer app

The app allows sending money online to countries worldwide, with more than 500,000 pickup locations. There is a €4 fee.

They offer credit, debit, online banking, and bill paying. They boast being an ‘anywhere in the world 24/7’ app, and it can be read in multiple languages.

Small world money transfer

Small World Money Transfer says it has the best rates on the market and promises to send money within hours, with no fees for the recipient. It considers itself a global leader in international money transfers, mostly between the US and Western Europe, and the rest of the world, and calculates more than 81 million transactions. Payment options include cash pickup, account transfer, mobile top-up, mobile wallet, and home delivery. With 680 employees globally, they claim to have the best of local and global business practices. Agents and staff are available to help customers find the right options for them.

Azimo

Azimo indicates it has a quick registration process and ease of service. It also considers itself one of the safest money transfer companies. You have the option of sending to bank accounts, cell phones, or one of 300,000 pickup locations around the world. Authorized by the FCA (Financial Conduct Authority), it is also verified by Visa and Mastercard. It has an app that tells you exactly when, where, and how to pick up or collect your money. Founded in 2012, Azimo had over a million people on its platform by March 2018. The app has been downloaded almost a million times, with 30,000 five-star reviews. Michael Kent, its CEO, is also a co-founder of Tandem Bank.

NBWM (Nederlandsche Betaal & Wisselmaatschappij)

NBWM has been helping businesses and personal accounts since 2013 to make currency transactions more affordable and efficient. Their stated aim is to eliminate the “high costs and the risk of fluctuating exchange rates”. Since launching, they have helped in excess of a thousand Dutch and international companies. Two years ago, they opened a Singapore office under the name Clarency to more easily interact with their Asia-Pacific customers. They rank tenth in the Financial Times’ FT100 ranking, highlighting Europe’s fastest-growing corporations. Transaction rates are fixed at €5, and they offer more than 150 currencies for transfer.