Imagine you’ve just moved to Amsterdam (or anywhere else in NL) for your first job after university. You’re excited to start earning, maybe even open your first investment account. But when you visit a bank, they ask for your passport, proof of address, pay slips and even a selfie. You’ll think: “why do they need all this?” Trust me, you’re not alone. Dutch banks follow strict KYC, or Know Your Customer, rules, and understanding them will help you navigate banking smoothly while protecting your finances.
Why Dutch banks care about KYC
Dutch banks follow strict anti-money laundering, AML, and EU regulations. Simply put, they need to be sure that you are who you say you are, that your money comes from legitimate sources and that your financial activity matches your profile. This protects you and the financial system from fraud and illegal activity. In 2025, these checks became stricter meaning you’ll need to bring several documents when opening an account or investment portfolio.
Documentation you need to bring
I will give you a quick breakdown of what banks typically ask from their international clients. Starting with proving your identity, you will need a passport and sometimes also a residence permit/visa. For digital verification you will need a selfie or live video.
To prove you address you need to be able to show a rental contract or municipal registration (BRP extract). Banks often also ask for a utility bill, but this is only possible if you already have one. If you don’t have one already just the rental contract will be fine. You also need to prove your income. You can do this by showing the bank an employment contract, pay slips or bank statements showing salary deposits. When you are self-employed of have a foreign income, additional tax documents may be required, so be aware of that.
Why understanding the KYC matters to you
When you understand the KYC beforehand, the process will be easier. Opening an account can take days or even weeks if you’re an international student or young professional. When you arrive at the bank and you come prepared, this will save time and stress. Also, the KYC is not there to complicate your stay and finances, but it is there to protect your money from fraud, you get a safe, verified account. After you are verified, you can invest, save or use digital banking apps without repeated checks. To give you an example of something I witnessed; a 23-year-old girl from Portugal wanted to open an investment account while starting her first job in Rotterdam. By preparing her passport, rental contract and recent pay slips in advance, she completes KYC in just a few days, after which I could advise her on her investments.
My perspective: safe and responsible financial choices
At my sustainable financial advisory firm, we believe that KYC is not just compliance, it’s empowerment. It protects your finances, helps you make informed decisions, and enables you to invest in products that align with your values. For young expats, this means you can start your financial journey in the Netherlands safely while choosing sustainable funds, digital saving accounts, or investment solutions that contribute to a better future.
Quick tips for smooth KYC
So, to help you manage your money and to avoid delays, let me give you some quick tips.
First, gather all necessary documents before visiting the bank or applying online. Check if digital verification is possible because many banks now allow video ID checks. If you have foreign income, ask your bank in advance which documents are accepted. Last, keep copies of everything, banks may request them more than once.
In short
Concluding, KYC might feel like extra paperwork, but it’s your ticket to safe and smooth banking in the Netherlands. Get your documents ready, know what the bank will ask, and you’ll be investing, saving or managing your money in no time, stress-free and fully in control.
Writer: Sylvie Roozenburg