Get yourself a bank account

When you open a checking account, you will receive a bank card and, with some banks, a device to log into internet banking. This will be sent to your home address.

Credit card

You can apply for a credit card at almost any bank. Both Mastercard and Visa are offered. Although you can pay with your bank card basically everywhere, a credit card is especially useful for booking airline tickets, hotels and services or goods abroad. 

To apply for a credit card, you must receive sufficient income in your bank account. This can be salary or benefits. Depositing money into the checking account yourself is not counted in the calculation. Banks look at your income over the last 3 months. For example, if you apply for a credit card on April 10. Then your income of March, February and January is considered. If you receive at least EUR 500 per month you are eligible for a credit card. The more income you receive, the higher your limit can be on the credit card. The standard limit on a credit card is EUR 1000. But there are also credit cards where the standard limit is for example EUR 2500. Is the limit not enough when you go for example on vacation? Then there are two ways to solve that problem:

• You temporarily increase the limit (you can do this easily through your banking app)
• You deposit money on the credit card yourself so that you have more balance.

During the credit card application process, not only your income is tested, but also yourself as the applicant. This is because banks look at whether you have met your payment obligations in the past. All loans, both personal loans, mortgages and credit cards are registered with the BKR. If you fail to meet your payment commitments on a loan, you will receive a notification in the BKR. If it turns out that you have a BKR report during your credit card application, you cannot apply for a credit card. The system will ensure that your application is rejected.

Online banking

Almost everyone in the Netherlands uses online banking. Not only young people, but also older people can handle internet banking very well. This is mainly because banks encourage online banking. Many matters can no longer be arranged at a bank or via an employee of the bank. If it is possible, the banks sometimes charge a fee or make it difficult for the customers. Thus, almost all customers choose to arrange their banking affairs themselves via the Internet.

Most people have a bank app on their phone or tablet. It is very simple. With most banks you register a five digit code with which you can log in and pay. With that, checking your balance or paying for something is a piece of cake. You can also use internet banking on the computer. Then you usually need your debit card and sometimes a scanner to log in. The simplicity of the bank app ensures that most people prefer to use the bank app.

savings account

Nowadays, banks have few different savings accounts. This has everything to do with the low interest rates at the moment. Because the interest rate is close to zero, it makes no sense to offer different savings products, because the interest rate is equally low. In addition, it makes no sense to lock up money on a long term deposito. That is why banks nowadays often offer only 1 savings account, the so-called Internet savings account. 

You cannot open a savings account with a bank if you do not have a checking account. So first open a checking account and only then a savings account. 

Account for your children

You can open both a current account and a savings account for your children. You can open a savings account from the first day after the birth of your child. After the birth you register your child with the municipality. Once you have registered your child with the municipality, you will receive a BSN and you can open an account. You can go to the bank, but the easiest way is to open the savings account for your child online. This is very simple and often done within minutes. 

You can also open a checking account for your child. There is usually no minimum age for this. You often see parents open a checking account for their child when they are about 11 years old. They then get a debit card and, if the parent wants it, internet banking. In this way, children learn at a young age how to arrange their banking affairs and how to make online payments. Your child often receives a gift when you open a savings account or checking account for your him or her. 

Up to your child turns 18, the account is often free. Also, as a parent you are responsible for their finances until they turn 18. That's why parents automatically get to see their children's accounts on internet banking. If you log in as a parent to internet banking in your own account you will also see the accounts of your children below it. This way you can get a good insight of the transactions and balance.