Whether you are sending money home to family, paying off a mortgage in your home country, or transferring savings to the Netherlands, international money transfers are a regular part of expat life. Choosing the right service can save you money on every transfer.
Why Your Bank Is Probably Not the Best Option
Traditional Dutch banks like ING, ABN AMRO, and Rabobank all offer international transfers, but they are rarely the most cost-effective choice. Here is why:
- Exchange rate markup: Banks add their own margin to the exchange rate, on top of the transfer fee. On larger transfers, this margin is often the biggest cost
- Transfer fees: Banks charge a fixed fee per transfer outside SEPA or in another currency, plus potential intermediary bank charges
- Correspondent bank fees: International transfers often pass through one or more intermediary banks, each of which may deduct a fee
- Slower processing: SWIFT transfers can arrive within hours, but can take several business days when they pass through intermediary banks
For SEPA transfers in euros within Europe, banks are better: these are typically free or very cheap and arrive within one business day. Since 9 October 2025, banks in the eurozone must also offer instant transfers, which arrive within seconds, at no higher price than a regular transfer. But for transfers in other currencies or outside the SEPA area, specialised services are often cheaper.
Best Transfer Services Compared
Wise (Formerly TransferWise) — Best Overall
Wise is the gold standard for international transfers from the Netherlands. They use the real mid-market exchange rate and charge a transparent, upfront fee that varies by currency and amount.
- Exchange rate: Mid-market rate (no markup)
- Fees: A fee that depends on the currency and amount, shown before you pay
- Speed: Wise shows the expected arrival time before you pay
- Funding: Pay via iDEAL (instant) or bank transfer
- Multi-currency account: Hold and convert 40+ currencies
Before you send, compare the total cost. Wise shows its fee upfront, and for online transfers EU rules require your bank to show its fee and estimated conversion cost before you confirm.
Revolut — Best for Regular Small Transfers
If you already use Revolut as your bank, their international transfer feature is competitive, especially for smaller amounts. Free plan users get a monthly limit of fee-free exchange on weekdays, after which a fee applies; exchanges at weekends also cost extra.
- Fees: No Revolut exchange fee on weekdays up to your plan's monthly limit; a fee applies above it and at weekends
- Convenience: Everything within the Revolut app
OFX — For Large Transfers
For larger transfers, it is worth getting a quote from currency brokers like OFX and CurrencyFair as well as from Wise, which also lowers its fee on large amounts.
- Fees: No transfer fees (built into the rate)
- Best for: Regular large transfers like mortgage payments or property purchases
PayPal — Convenient but Expensive
PayPal is widely available but often expensive for international transfers. It converts at its own exchange rate, which includes a margin, and charges a fixed fee to send money to another country. Only use PayPal if the recipient can only receive PayPal payments.
How to Choose the Right Service
The best service depends on your specific situation:
- Regular transfers to family: Wise for the best rates, or set up a recurring transfer to save time
- One-off large transfer (moving savings): Compare Wise and OFX for the specific amount and currency pair. Leaving the Netherlands? See what happens to your Dutch accounts
- Small, frequent transfers: Revolut if you are already a customer and the amounts stay within your free limits
- Within Europe (EUR to EUR): Use your regular Dutch bank—SEPA transfers are free or nearly free
Tax Implications
Sending money abroad from the Netherlands has tax implications to be aware of:
- Anti-money-laundering checks: Under Dutch law (the Wwft), banks must report unusual transactions to FIU-Nederland, whether the money goes to an EU country or elsewhere. A transfer can count as unusual because of its size or because it does not fit your normal pattern
- Gift tax: If you are sending money as a gift, Dutch gift tax may apply depending on the amount and your relationship to the recipient. What matters is where you, the giver, live: if you live in the Netherlands, the same rules apply whether the recipient lives here or abroad. The recipient files the return
- Box 3 implications: Money held in foreign bank accounts is part of your worldwide assets and should be reported for box 3 tax purposes (how to declare it: tax on foreign savings accounts) (unless you still have partial non-resident tax status under the 30% ruling, which is only possible until the end of 2026 for people who already had the ruling at the end of 2023)
Pro Tips for International Transfers
- Set rate alerts: Wise and Revolut both offer rate alerts so you can send money when the exchange rate is favourable
- Avoid weekends: Some providers, such as Revolut, charge extra for exchanging money at the weekend, when currency markets are closed
- Use iDEAL to fund: Funding your Wise transfer via iDEAL is usually instant for amounts up to EUR 3,000, but Wise can add a small fee for paying by iDEAL. The app shows the cost of each payment method before you pay
- Consider a multi-currency account: If you regularly deal in multiple currencies, Wise's multi-currency account lets you hold and convert money when rates are good
The right transfer service can save you a significant amount over the course of a year. Take 10 minutes to compare your options before each transfer—or set up a regular transfer with the best provider and let it run on autopilot.