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Debit cards in the Netherlands
Spend money anytime, anywhere with a debit card.
Debit cards are a convenient way for you to spend your own money, but not all of them are the same. This guide covers what you need to know about debit cards in the Netherlands, including how they work and how to find one for you.
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How does a debit card work?
Debit cards are attached to your bank account and allow you to spend the money in that account. You can use your debit card to make purchases online and in-store and withdraw cash from ATMs. As soon as you make a purchase or withdraw money from an ATM using your debit card, the money will be deducted from your bank account.
You’re also able to set up an overdraft on your bank account so you can draw over the amount you have available. Keep in mind that not all banks offer this, and those that do tend to apply high interest rates.
What features do debit cards have?
Debit cards can come with a few different features, including:
- Low fees. Compared to credit cards, debit cards is an affordable way to make payments. You’ll not be charged any ongoing fees and cash withdrawals are free within the Netherlands and usually in the EU. Unlike a credit card, you won’t have to make payments at a later date so there’ll be no risk of incurring any late payment fees. The main fee to watch out for is currency exchange fees if you use it abroad.
- Contactless. If your debit card is equipped with contactless payment technology, you’d only need to tap it on the payment terminal to complete a transaction. However, there is a limit of €25 for contactless transactions.
- Security. Debit cards don’t only allow you make payments, but they also keep your money secure. When you’re issued with your debit card, you’d need to choose a PIN and sign the back. Some banks also allow you to lock your card instantly if you’ve lost it.
- ATM withdrawals. Most ATMs in the Netherlands allow for free cash withdrawals in Euros. However, you’d usually incur a fee if you withdraw money overseas.
- Spending abroad. Depending on your debit card, you may not be able to make withdrawals overseas. If you are, you will usually be charged an overseas ATM withdrawal fee and a foreign currency exchange fee.
- Pay parking fees. You can pay parking fees in the Netherlands with your debit card without entering your PIN. This is also known as Dip & Go.
What’s the difference between a debit card and credit card?
The main difference between a debit card and a credit card lies in how you’ll be spending your money. With a debit card, you can only spend what is in your account, while a credit card allows you to spend on credit, which you’d have to pay back at a later date. Here are the differences between a debit and credit card:
Debit card
- Usually free or cheaper than a credit card
- An widely accepted payment method in the Netherlands and most of Europe. Outside Europe, merchants may be less inclined to accept this payment mode
- Money is immediately debited from the account after payment and you’re unable to spend more than your balance
- Cash withdrawals in the Netherlands and in euros is almost always free
- Limited or no extras benefits
Credit card
- Usually more expensive than a debit card
- Worldwide acceptance in both retail and online stores. But do take note that credit cards is not widely accepted as a means of payment in the Netherlands
- You spend on credit and only pay it back at the end of the month (sometimes with interest)
- Cash withdrawal often incur fees and high interest, both in the Netherlands and abroad
- Often comes with bonus extras, such as travel insurance and purchase guarantees
How do PINs work?
A PIN (personal identification number) allows you to spend money held in your bank account using your debit card securely. When you sign up for a bank account and receive your debit card, you should receive instructions on how to set your PIN. This may be done online through your Internet banking portal or banking app.
Keep your PIN to yourself and do not share it with anyone as this will help ensure your funds remain secure. If you forget your PIN or need to change it, make sure to contact your bank directly.
How can you pay safely?
It is important to keep your PIN to yourself, memorise it and never write it down anywhere. Keep the following tips in mind when you use your debit card and PIN code:
- Keep PIN away from prying eyes. Cover it with your hand when you input the PIN to prevent others from seeing it.
- Stay alert. Do not be distracted during the PIN, as this can prevent you from protecting the PIN properly.
- Activate contactless payment. With contactless payment, you wouldn’t have to enter the PIN code.
- Check your payment amount. If you’re making a payment transfer via ATM, make sure to double check if the amount you’re sending is correct.
- Lower the limit of your debit card. By lowering the limit, they can never withdraw more than that amount from your account.
- Cut your old card in half. If you’ve a new card, dispose the old one after cutting it into half.
- Check your debits regularly. Ensure that there’s no unrecognised transactions on your account.
- Block your debit card immediately if compromised. If you notice that you have lost your debit card, make sure to block it as soon as possible.
How do you apply for a debit card?
In the Netherlands, you’ll automatically receive a debit card within a few working days when you open a new bank account. To activate your card, you’d normally need to log into the bank’s Internet banking platform or in the mobile app. The PIN is always sent to you in a separate mailer or through the banking app as soon as the card is activated.
Depending on the bank, parents can also request a debit card for your child from 6 or 8 years old. This youth card is part of a children’s savings account and often has a lower spending limit that can be adjusted based on your preferences. In addition, parents are also granted full insight into the account and instill money sense for their child.
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