Say hoi to exciting cashback deals and Dutch interest rates that may actually make saving money worthwhile. (Yes, we’re shocked, too. 😳)
For most internationals, one of the first steps when moving to the Netherlands is opening a Dutch bank account. Amongst a sea of banking institutions, it can be hard to determine which one will give you the most bang for your buck.
But while most banks seem fond of taking money, one Dutch bank now gives us money — in the form of cashback!
Wait a second, what’s cashback?
Simply put, cashback refers to a reward system where cardholders get a certain percentage of money back when they make purchases.
Did you spend €100 on public transport last week? bunq says, “Here’s €2 back!” — and trust us, that adds up pretty quickly!
Earn money by spending it? “Ja, hoor!” says bunq
If that sounds too good to be true… (drumroll please), it isn’t! Dutch banking heavyweight bunq just updated the new rules around this handy dandy feature.
How does it work? All you need to do is be an Elite subscriber, which gives you 1% cashback at restaurants and bars AND 2% cashback on public transportation!
You’ll need to use your Credit Mastercard (not Maestro) to be eligible for cashback, but the good news on that is that the Netherlands is phasing out Maestro cards — so you can get stacks of cash back!
Money back in your pocket? In THIS economy? Lekkerrrr. 👏
These interest rates are actually interest-ing
The Netherlands is a stunning country with a great work-life balance and one of the most powerful passports in the world.
Frustratingly, however, Dutch banks often treat interest rates like a game of limbo: trying to see how low they can go. (And yes, they’re winning!)
Meanwhile, bunq’s healthy 2.01% interest rate means the bank offers some of the best savings interest rates currently on offer in the Dutch market.
But that’s not all! 👇
We may have found your banking BFF
As romantic as the idea of living abroad is, the lifestyle comes with its share of questions. What’s the best bank in the Netherlands? Will I need to pay a fortune in extra fees? How can I stay within budget?
With bunq, internationals have access to all the great features that put the ‘cash’ in ‘cashback’. A bunq Elite account gets you:
- ZERO added fees when travelling abroad,
- Travel insurance for you and your family while travelling,
- Spending and saving features in up to 14 currencies,
- Hassle-free international transfers straight from your bunq app,
- Up to 25 virtual Mastercards for secure online shopping,
- 2.01% interest on your savings (with seamless withdrawals!).
READ MORE | New to the Netherlands? 8 reasons why bunq is the ideal bank for internationals
Are you jumping on board with bunq? Tell us all about it in the comments below!