The Euro

As an EU member country, the Netherlands’ currency is the euro (€). Bank notes are issued in €500, €200, €100, €50, €20, €10 and €5 denominations. Some of the higher denominations, such as €500 and €200, are not issued in a few countries, although they are accepted throughout the European Union. All euro banknotes have a common design for each denomination on both sides.

The euro is divided into 100 cents (whose symbol is c). The euro coins are issued in €2, €1, 50c, 20c, 10c and 5c, 2c. All euro coins have a common side showing the denomination with the EU-countries in the background and a national side showing an image specifically chosen by the country that issued the coin. Euro coins from any country may be freely used in any nation which has adopted the euro.

Prices are written with the euro amount followed by a decimal point and then the euro fraction amount; for example: €5.25 (five euro and twenty-five cents).

Opening a Bank Account

International students can open a bank account at any bank or at the postbank in the post office, where it is called a postgiro account. To open a bank account you will be asked to provide a valid passport and, if you are going to stay for more than four months, official proof of your registration in the municipal registry at the Town Hall. Some banks might also request a letter from your institution stating that you are enrolled as a student and/or a signed rental agreement or other documentation showing proof of your accommodation and mailing address in the Netherlands.

The ABN-AMRO bank is recommended for international students. It has branches throughout the Netherlands.

There are automated teller machines (ATMs) in most Dutch towns and all cities.  Most ATMs accept cards issued by other banks and are linked to international networks. Check with your bank in Vietnam to find out if your ATM card is part of an international network used in the Netherlands/Europe.

Major credit cards such as Visa and MasterCard are widely accepted for everything, including cash advances at banks and from many ATMS. A credit card can turn into an expensive payment option if you are not able to pay the balance within the specified grace period. Make sure to understand all of the terms and conditions of your credit card, particularly the interest rate scheme, before deciding upon a credit card company.