Wise in the Netherlands: what it is, costs, pros and cons

What Wise is

An app and card for money in other currencies. In the Netherlands you deal with Wise Europe SA, a payment company licensed by the National Bank of Belgium.

• It is not a bank. Wise doesn’t lend your money out. It keeps it separate from its own, in cash at big banks and in low-risk funds.
• No deposit guarantee. If a Dutch bank fails, the first €100,000 is guaranteed. Money at Wise doesn’t have that protection; it relies on being kept separate instead.
• You get account details in many currencies, such as a euro IBAN, a British account number and a US account number. People abroad can pay you as if you had a local account.

What it costs

There is no plan or monthly fee. You pay per thing you do:

What	Cost
Opening an account, holding money	Free
The card	€7, once
Paying with the card	Free if you have that currency. Otherwise you pay the exchange fee
Exchanging or sending to another currency	From 0.2%, depends on the currency. The app shows the fee first
Cash from an ATM	Free up to €250 a month. 2.69% on the amount above that
Receiving euros by normal bank transfer	Free
Receiving euros by SWIFT	€2.39 per payment

Wise uses the mid-market rate, the one you see on Google, and shows its fee separately. That’s why it’s often cheaper than a normal bank for other currencies.

What’s good

• Cheap for other currencies. Sending money home, getting paid by a foreign client, or paying in pounds or dollars.
• No monthly cost. You can keep the account for when you need it.
• Top up with iDEAL from your Dutch bank to pay for a transfer.
• Apple Pay and Google Pay work with the Wise card.

Watch out for

• Not a full replacement for a Dutch bank. Some Dutch employers and companies still ask for a Dutch IBAN, even though EU rules say they must accept one from any EU country.
• No deposit guarantee, no overdraft, no credit. Keep your savings and your salary at a bank.
• Wise Interest is an investment, not a savings account. It puts your money in a fund (shown at 2.25% a year for euros in September 2026, after fees) that can go down. It’s run by a separate Wise company in Estonia.
• More cash costs extra. Above €250 a month you pay 2.69% per withdrawal.

The invite reward

There is no public promo code. If a friend invites you, your first international transfer is free of Wise’s fee, as long as you make it within 6 months. Your friend gets a reward once you’ve sent enough money abroad. Wise doesn’t publish the amounts for the Netherlands; the app shows them.

What do I need to open an account?

A valid passport, ID card or driving licence. Wise sometimes asks for proof of address: a bill or bank statement under 3 months old, a rental contract, or a government letter under 12 months old. If your ID is from another country, it may ask for proof you can live here.