ING’s international payments feature lets you transfer money abroad in more than 30 currencies — directly from your Dutch banking app, with transparent fees and no nasty surprises.
If you’ve ever tried to transfer money to or from the Netherlands, you’ve probably come across unclear fees, a mark-up on the exchange rate that only shows up mid-transfer, and at least one request for a code you’ve never heard of.
We went looking for a transparent, stress-free option, and found it sitting right inside our ING banking app.
What counts as an international payment?
Before diving in, it’s worth understanding the difference between the two main types of international transfers, as they work quite differently.
Transfers within Europe
If you’re sending money to someone within the Single Euro Payments Area (or SEPA), the process is generally quite straightforward.
SEPA covers all 27 EU member states, plus Iceland, Liechtenstein, Norway, and Switzerland. You can think of it as a standardised payment network that makes transferring euros across European borders feel much like a domestic transfer.
All you’ll need is your recipient’s IBAN, which is a string of alphanumeric code that identifies their account.
Transfers outside Europe
If you’re transferring funds outside of the Eurozone, we’ve found that things get slightly more complex.
You’ll need your recipient’s SWIFT/BIC code, which is an 8–to 11-digit identifier that tells the network exactly which bank and branch you’re sending cash to.
Some banks may also require additional details, such as a routing number for US transfers or your recipient’s address. We find it quite handy that the ING app flags these requirements when you select your destination country, so you aren’t caught off guard mid-transfer.
Why we opted to use a Dutch bank for international money transfers
In our experience, using a Dutch banking app typically means fewer moving parts, as you needn’t trust a third party with your personal bank details.
In addition to this, traditional Dutch banks like ING have considerably improved their English-language support over the years.
Not only is the ING app (and many pages of their website) available in English, but the bank also has a widespread branch network with brick-and-mortar offices you can actually visit.
Plus, with European Central Bank oversight and a regulatory track record going back decades, transferring funds with ING just feels a lot more reliable.
How ING’s international transfers work: a step-by-step guide
Whether you’re sending money back home, paying for a foreign holiday, or transferring funds for your university tuition, ING handles it all from the same app you already use for your daily banking.
Here’s how a typical transfer works:
1. Open the ING app, tap “Transfer”, then hit the globe icon in the top right corner. If you’re using the My ING online banking portal instead, select “New Transfer”.
2. Fill in the necessary details, such as the destination country, the name and account number of your recipient, the amount, and your preferred currency. You can also include a transaction description.
3. Review the rate and costs before you confirm the transaction. ING shows you the exchange rate, the fees, and the total amount to be debited.
4. Confirm your payment once you’re satisfied.
In most cases, your money will arrive the same day, although processing times may vary by currency and destination. Do refer to the ING website if you’re unsure of your exact transfer timeline.
What to expect with fees, costs, and currencies
If you’re anything like us, you probably hate surprises, especially where money’s concerned. Luckily, we’ve found that ING is quite transparent about listing their transfer fees and costs, so you can go in with your eyes open.
For those sending euros within the SEPA zone, good news: you won’t be charged fees or a currency exchange markup.
For international payments, ING charges a small fee per transaction — but how that’s applied depends on who’s picking up the bill. When you initiate a transfer, you’ll be asked to choose one of three cost arrangements:
- SHA (shared) cost: you pay a small fee per transaction, and the recipient’s bank covers their own charges
- OUR cost: you pay a small fee per transaction, plus any charges levied by the recipient’s bank
- BEN (beneficiary) cost: the recipient covers all charges; you pay nothing upfront except for the money you’re sending
If your transfer involves a currency conversion, there’s one more figure to factor in.
ING generally applies a 0.85% mark-up to the base exchange rate for the 19 most commonly used non-euro currencies. These include AED, AUD, AWG, BHD, CAD, CHF, CZK, DKK, GBP, HKD, HUF, ILS, JPY, NOK, NZD, PLN, SAR, SEK, SGD, USD, and XCG.
Is ING’s International Payments option right for you? Our thoughts
Naturally, ING’s international transfers won’t be a perfect fit for everyone.
If you send frequent, high-volume transfers, those €6 transaction fees and 0.85% markup can really add up. In those cases, it’s worth comparing ING’s International Payments against specialised money transfer platforms to see if you’re getting a better deal.
However, in our opinion, ING is a great option if you value transparency and simplicity. The exchange rate is shown upfront, fees are fixed and published, and you won’t find hidden charges lurking in your confirmation email.
For those living and working in the Netherlands, we think this bank offers a straightforward, transparent process, built into a banking app you’re probably already using.
Customer support is accessible, and you’ve got no third-party apps and no waiting for funds to settle in your account before they can be transferred.
Thinking of trying out ING’s International Payments? Learn more.
Have you transferred funds with ING’s International Payments feature? Share your experience in the comments below.