Send money to the Netherlands with Wise
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
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An international money transfer service are the middle men when it comes to sending money overseas. You open an account with a money transfer service, deposit funds into the account from your everyday bank account, provide the money transfer service with the details of your recipient and the money transfer service will do the rest.
A money transfer service will get you a better exchange rate than the banks, and usually charge much lower fees. Our infographic on this page outlines the process.
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
There are lots of companies and banks that offer money transfers to the Netherlands, and by comparing exchange rates and fees, you can find the best deal for your next transfer.
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to the Netherlands. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts. Sending money through PayPal or your bank is also an option, but you’ll typically face higher fees and weaker exchange rates when going that route.
Companies like WorldRemit and OFX specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Dutch bank account, often in as little as a day or two.
Services like MoneyGram and Western Union allow you to transfer cash for pickup at a local branch in the Netherlands— often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees.
the Netherlands uses the euro. The euro is a popular currency, so your local bank may be able to exchange them. If your bank supports the euro, beware of high fees and wide margins on the exchange rate compared to digital and other options when sending a wire transfer to the Netherlands.
Let’s say you need to send $10,000 to family in the Netherlands. Here’s what you might face as far as fees and exchange rates as of 13 Dec, 2020.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||49.80 HKD||8.00 HKD||$65 + additional correspondent bank fees|
|Exchange rate||1.00 HKD = 0.106295 EUR||1.00 HKD = 0.1055 EUR||1 HKD = 0.09282 EUR|
|Transfer speed||1 day||Minutes||2-5 days|
|Amount received||1,057.66 EUR||1,054.57 EUR||922.15 EUR|
The bank option ends up being both the slowest and gets the smallest amount of money to your recipient in the Netherlands. If you go with the digital money transfer service, your recipient ends up with 135.51 EUR more than the bank offers. If speed is crucial, or your recipient wants to pick up cash, a cash transfer can typically have your transfer to the Netherlands in as little as an hour. Confirm there is a cash pickup location near your recipient before sending.
Sign up and send money with a digital money transfer specialist in four steps:
Weigh costs and fees against convenience to learn how to compare money transfer providers that send to the Netherlands to best meet your needs:
When urgency trumps cost to get your money to the Netherlands quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.
Cash transfer services can help you if you’re unbanked or marginally banked. If you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.
The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. the Netherlands’s exchange rate is flexible compared to the HK dollar, and the HKD-EUR relationship typically changes daily. Factors that influence the exchange rate include interest rates, economic stability and inflation.
To send money to the Netherlands from Hong Kong, you’ll need government-issued ID and other documents, while documents needed to pick up money in the Netherlands may differ by company.
To send money from HK to the Netherlands, you’ll need documentation and details that include:
To pick up money in person, documentation can include:
Sending your hard-earned money to the Netherlands shouldn’t cost a fortune. Compare money transfer companies that specialize in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.
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