Everything you need to know about sending money to the Netherlands.
Whether you’re transferring money between personal accounts, business-related money transfers, or sending money to a family friend or loved one.
Our guide below goes through all the costs, transfer times, and steps involved, and to make sure your money is secure, we cover it all.
Alternatively, if you’re looking to send money to the UK from the Netherlands, we have information on that transfer too!
Transfer Money to the Netherlands in Simple Steps
If you choose a currency broker for your money transfer to the Netherlands, then the process to do so is incredibly easy.
1) Register as a client
New clients will first need to register before you send money to the Netherlands, this is due to financial regulations.
Once registered, you won’t have to do so again.
It involves a straightforward identification check where you provide:
- Name
- Address
- Passport Number
2) Secure a Euro exchange rate
When the first step is complete, you can get an exchange rate.
Transferring to the Netherlands from the UK will be a Pound to Euro conversion.
Before committing to the transaction, you will need to confirm the rate.
Once confirmed, this rate will be locked in for you.
3) Send in your Pound Sterling
Before Pounds are exchanged into Euros. You will need to transfer your money to the currency broker.
An email confirmation from step 2 will include their bank details.
4) Money converted to Euros and sent
Once your money has be received, the will convert it into Euros at the locked-in rate.
When the conversion is complete, they will send the Euros to the bank account in the Netherlands that you have specified.
Ways to Transfer Money to the Netherlands from the UK
There are various ways to transfer money from the UK to the Netherlands.
The most suitable for you will all depend on why you’re sending the money and how much you’re sending.
Let’s look at the three most common ways to transfer money to the Netherlands.
Banks
For large money transfers to the Netherlands using your bank could be a suitable option.
Often people use their banks for one-off money transfers as they’re familiar with their bank and it’s convenient to do so.
The downside to sending money to the Netherlands with your bank is that you are likely to encounter high charges and fees.
But these higher fees and charges can be avoided!
We explain the costs of a money transfer to the Netherlands further down this guide.
Currency Brokers (Money Transfer Specialists)
For large one-off transfers or for those expecting to make multiple, consistent, large money transfers to the Netherlands, from around £2,000 and above, then a currency broker may be a preferred choice over your bank.
Money transfer specialists, or currency brokers charge a lot less in fees.
Some do not charge any sort of transfer fee at all, like us at Key Currency.
Exchange rate charges also tend to be a lot less with a currency broker as they have far lower overheads than banks and can therefore undercut them on charges.
A money transfer specialist can also offer a much more personal, supportive service throughout the entire process of sending money to the Netherlands.
Something that we provide for all of our customers.
Online Apps
You may be wanting to send small amounts of money to the Netherlands.
If this is the case, then using an online money transfer app should be considered.
When transferring smaller amounts of money to the Netherlands the impact of the GBP to Euro exchange rate is much less.
Transfer times are in some instances quicker too.
So, if you need your money to arrive in the Netherlands sooner rather than later it could be the best way for you.
There are transfer fees involved with online money service apps, but usually, these are cheaper than banks.
We provide more analysis about all of these money transfer services in our sending money abroad guide if you require more information!
Consider Costs and Security when sending money to the Netherlands
When making a money transfer to the Netherlands you should think about the costs of the transfer, this involves fees and exchange rates.
Finally, you want to ensure your money is safe and secure during the process.
It’s worth looking into these further.
Transfer Fees to the Netherlands
International bank transfers are generally the cheapest way to transfer money to the Netherlands.
However, as alluded to above, high street banks in the UK will charge higher transfer fees for sending money to the Netherlands.
Currency brokers and online apps will not add a second fee for a money transfer to the Netherlands.
There many providers for transferring money internationally, so it is essential to do research before committing to the right one.
Some money transfer specialists will add a fee when the amount you want to transfer hits a certain threshold from £3,000+.
Others will not add any fees for your money transfer to the Netherlands.
Euro Exchange rates
Exchange rates are constantly changing and can be a bigger cost than transfer fees.
A lot of customers don’t realise this.
So, when sending money to the Netherlands, it is critical to get a genuine customer quote from the various services and compare.
This will allow you to make the best decision for you and your money.
The GBP to EUR chart below shows how the Pound has traded against the Euro, which can help you decide when to send money to the Netherlands.
GBP to EUR rate = 1.17687181
This data uses the mid-market rate. For an exchange rate on your money transfer, please get a transfer quote.
If you need a longer record than a year, the historic pound to euro page covers how GBP/EUR has moved over time.
Keeping Your Money Safe and Secure
When making a money transfer to the Netherlands make sure you choose a service that is regulated and authorised by the FCA.
Especially if you’re transferring a large amount, you need it to be in the right hands.
A company that is authorised by the Financial Conduct Authority must comply with regulatory protections and rules.
To find out who is or isn’t, you can head over to the FCA register and search for the company name.
What Information Do You Need?
When transferring money to the Netherlands from the UK via an international bank transfer, you will need to know the following information:
- The name of your receiver
- Their BIC (bank name and code)
- The receiver’s account number (IBAN)
What is the Netherlands IBAN format?
The structure of a Netherlands IBAN contains 18 characters, which include:
- 2-letter country code (NL) – this will be at the start of the IBAN
- 2-digit check number
- 4 characters from the bank’s code
- 10-digit code for the bank account number
It can be confusing and difficult to find the IBAN at times.
If you decide to transfer money to the Netherlands with a money transfer specialist, they can help you personally with this process.
How Long Does a Money Transfer to the Netherlands Take?
An international money transfer to the Netherlands will take 1-2 working days.
This includes the process we have gone through in simple steps.
Once your pounds are sent, the should arrive in the Netherlands within 24 hours.
As alluded to, for smaller money transfers, online money service apps will be able to transfer these amounts to the Netherlands quicker depending on the requirements.