From January, Non-EU Banks Need a Dutch Branch to Serve You

Many internationals in the Netherlands keep non-EU bank accounts in their home countries.Many internationals in the Netherlands have a UK account to receive a pension, a US account to receive transfers from family, and a savings account in Mumbai, Istanbul, or Zurich. You use your Dutch bank to pay rent, but you keep that other account because you never know.

A European law that takes effect on 11 January 2027 will change what that bank can do for you. In the Netherlands, it has been part of the Wft, the financial supervision law, since 22 September. Here’s what it means for the account you left behind.

The Rule, in One Sentence

A bank outside the EU can only take deposits from, extend loans to or provide guarantees for people living in the Netherlands through a branch licensed by De Nederlandsche Bank (DNB). That’s Article 21c of the EU’s sixth Capital Requirements Directive, CRD VI. The Dutch version is the Implementatiewet kapitaalvereisten 2026.

Three details matter. The rule applies to clients based on their residence and not their nationality. So an Indian or American citizen with a Dutch address is covered. It only covers deposits, loans and guarantees, not investment services. So a brokerage account in New York or London isn’t covered.

Read Also: Investing in the Netherlands as an Expat in 2026

Why Brussels Wants Foreign Banks Behind a Local Counter

Until now, every EU country set its own rules for banks from outside the Union. Some have more open policies, while others have required licenses. The European Commission proposed a banking package on 27 October 2021, highlighting this as a risk to financial stability. Supervisors couldn’t see the full picture of a foreign group with branches in several countries. The 15 largest non-EU banking groups hold more than three quarters of their EU assets through such branches, says the European Banking Authority.

The EBA’s latest list, published in October 2025, counts 445 non-EU banking groups from 50 countries active in the EU, with 88 branches between them. Directive (EU) 2024/1619 gives the 27 member countries the same answer: a licensed branch, local capital and local supervision.

The Brexit Letters Were a Preview

If this sounds familiar, you may have lived through the first round. In December 2020, Lloyds, Halifax, Nationwide and the Co-operative Bank told customers in the Netherlands their accounts would close once the UK left the single market. The Co-operative Bank had about 600 customers in the Netherlands. DNB ruled in October 2020 that British banks could no longer take deposits from Dutch consumers across the border.

It shows what banks usually do with stricter rules: not open branches, but drop customers.

Which of Your Accounts Are Safe, and Which Aren’t

All accounts and loans agreed before 11 July 2026 are protected under a transitional rule and can continue. The directive doesn’t force a bank to close them. Investment accounts and apps licensed within the EU aren’t affected.

New products are the issue. A new savings deposit, loan or guarantee after 11 January 2027 may be considered a new contract. A bank needs a Dutch branch or an exemption to offer such a product. A bank that breaks the Dutch rule faces a base fine of €2.5 million.

The Exemption That Depends on Who Called First

The exemption most people will rely on: if you approached your bank on your own, it can keep serving you and providing closely related services. The bank can’t actively approach you to market a new loan or new deposit. The exemption is invalid if the bank, its agent or an intermediary sought you out. Dutch law applies this strictly. The bank must prove you approached them, and you must check this again for every new product.

Here’s what you need to do:

• List all your non-EU accounts: bank, country, opening date and product type
• Mark the accounts you opened before 11 July 2026
• Keep your first email or application to the bank as proof you made the first move
• Give the bank your Dutch address and tax residence, since a false address breaks its terms and the tax rules
• Ask your bank in writing how it plans to treat you from January, before any new deposit or loan

With larger sums spread across several countries, a cross-border adviser may be able to tell you which accounts are worth keeping.

Keep an Eye on Your Mailbox

The law doesn’t close accounts on its own. The bank decides, under its own policy, and it may do so if the Dutch market isn’t worth a branch. In that case, the bank will notify you by letter, as British expats did in 2020. From January, you can check DNB’s public register to see whether your bank and branches are on the list of licensed banks and branches.