Best Business Bank Accounts for DAFT Entrepreneurs

Choosing a business bank account in the Netherlands as a Dutch-American Friendship Treaty (DAFT) entrepreneur involves a wrinkle that most comparison guides do not mention: not every bank wants to deal with American customers.

FATCA compliance (the US law requiring foreign banks to report American account holders to the IRS) makes some banks hesitant. We learned this the hard way when our first choice turned us down.

Here is an honest comparison of the business banking options that actually work for DAFT entrepreneurs, based on our experience and the experiences of other Americans in the Netherlands.

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What to Look For

Before we compare specific banks, here is what matters most for a DAFT business account:

• Accepts US citizens (not all do)
• English-language support (app, website, customer service)
• Integration with accounting software (Moneybird, e-Boekhouden, etc.)
• Reasonable fees (monthly costs, transaction fees, card fees)
• iDEAL support (the dominant Dutch payment system)
• SEPA transfers (for paying and receiving euros within Europe)

You will also want a bank that understands DAFT businesses. The last thing you need is a compliance department flagging your account because they do not recognize your residence permit type.

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ING Business Account

Monthly fee: Around 14-20 euros per month depending on the package

Pros:

• Largest bank in the Netherlands, branches everywhere
• Solid English-language app and online banking
• Accepts US citizens (with extra FATCA paperwork)
• Good integration with major Dutch accounting software
• iDEAL and SEPA included

Cons:

• Application process for Americans takes 2-4 weeks
• Customer service wait times can be long
• Business account requires an in-person visit at certain branches
• Monthly fees are on the higher side for a sole proprietor

Our take: ING is the safe, reliable choice. Nothing flashy, but it works. If you want a bank that everyone in the Netherlands recognizes and trusts, ING delivers. Their business account comes with a debit card and access to their full online banking platform.

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ABN AMRO Business Account

Monthly fee: Around 15-22 euros per month depending on features

Pros:

• Strong expat-friendly reputation
• Excellent English support, including a dedicated international desk
• Clean, modern app
• Accepts US citizens with FATCA compliance built in
• Multiple business account tiers
• Good accounting software integrations

Cons:

• Slightly more expensive than ING for basic packages
• Fewer branches outside major cities
• Application process still takes 1-3 weeks for Americans

Our take: ABN AMRO is our recommendation for most DAFT entrepreneurs. Their experience with international clients means fewer surprises during the application process. The staff at their international desks understand DAFT and can walk you through everything in English. We bank with ABN AMRO and have been happy with the experience.

Pro Tip: Ask for ABN AMRO's "Basis" business package to start. You can always upgrade later if you need more features. Starting with the most basic option keeps costs low while your business ramps up.

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Rabobank Business Account

Monthly fee: Around 12-18 euros per month

Pros:

• Strong presence outside Amsterdam (Rotterdam, Utrecht, Eindhoven, and smaller cities)
• Cooperative bank structure, known for good customer service
• Competitive fees
• Accepts US citizens at most branches

Cons:

• Less English support than ING or ABN AMRO
• App and online banking are functional but not as polished
• Processing time varies widely by branch (1-4 weeks for Americans)
• Some smaller branches may be unfamiliar with DAFT

Our take: If you are based outside Amsterdam, Rabobank is worth considering. Their local branch network is unmatched, and their fees tend to be lower. Just confirm that your specific branch has experience with American customers before applying.

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bunq Business Account

Monthly fee: Starting around 10 euros per month (Easy Business) up to 19 euros for more features

Pros:

• Fastest to open — sometimes within days, even for Americans
• Excellent modern app with real-time notifications
• Multiple sub-accounts for organizing finances (one for BTW, one for savings, etc.)
• Green banking (they plant trees)
• Dutch IBAN included
• No branch visits required, entirely online

Cons:

• No physical branches for in-person support
• Some Dutch businesses and landlords do not recognize bunq IBANs for direct debits
• Customer service is chat-only
• Less established reputation with the IND if questions arise about your business banking

Our take: bunq is a great supplementary account and works well as a primary business account for tech-savvy entrepreneurs who prefer app-based banking. The speed of opening is its biggest advantage. If you need a business account fast while waiting for a traditional bank to process your application, bunq can fill the gap.

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Wise Business Account

Monthly fee: No monthly fee (pay-per-use model)

Pros:

• No monthly fees
• Excellent exchange rates for USD to EUR transfers
• Multi-currency account (hold USD, EUR, GBP, and more)
• Fast international transfers
• Dutch IBAN available

Cons:

• Not a full Dutch bank account
• Limited iDEAL support
• Cannot set up incasso (direct debit) payments
• Some Dutch institutions may not accept it
• Not ideal as your primary business account for DAFT purposes

Our take: Wise is fantastic for receiving payments from US clients and converting currencies. We use it alongside our ABN AMRO account. But it should not be your only business account. The IND and Belastingdienst expect to see a proper Dutch bank account. For more on transferring money between the US and Netherlands, see our dedicated guide.

What We Wish We Knew: Open a traditional bank account AND a Wise account. Use the traditional account for Dutch business (invoicing Dutch clients, paying BTW, rent, insurance) and Wise for international transfers and currency conversion. This combination saves significant money on exchange rates.

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Knab Business Account

Monthly fee: Around 10-15 euros per month

Pros:

• Built specifically for Dutch sole proprietors and freelancers
• Integrated invoicing and bookkeeping tools
• Clean interface designed for small business owners
• Competitive pricing

Cons:

• Limited English support
• Acceptance of US citizens varies
• Smaller bank with less brand recognition
• May not be familiar with DAFT

Our take: Knab is interesting but risky for Americans. If they accept your application, the integrated business tools are genuinely useful. But the limited English support and uncertain acceptance of US citizens make it a secondary option.

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Quick Comparison Table

Feature	ING	ABN AMRO	Rabobank	bunq	Wise
Monthly fee	14-20	15-22	12-18	10-19	Free
Accepts Americans	Yes	Yes	Usually	Yes	Yes
English support	Good	Excellent	Limited	Good	Excellent
Opening time	2-4 weeks	1-3 weeks	1-4 weeks	Days	Days
iDEAL	Yes	Yes	Yes	Yes	Limited
Branches	Many	Moderate	Many	None	None

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Our Recommendation

For most DAFT entrepreneurs, we recommend ABN AMRO as your primary business account and Wise as your international transfer account.

If speed matters and you need something immediately, open a bunq account first, then apply for ABN AMRO or ING in parallel.

If you are outside Amsterdam, Rabobank combined with Wise is a solid combination.

Whatever you choose, make sure to open your account as early as possible. The application process for Americans takes longer than expected, and you need that business account to receive your DAFT investment and start operating.

After your KVK registration is complete, applying for your business account should be your next priority.

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We're not immigration lawyers—just Americans who did this. Requirements change, so verify with official sources.