How to Transfer Money Between the US and Netherlands

We transfer money between the US and the Netherlands almost every month. Sometimes it's paying ourselves from our Dutch business account. Sometimes it's covering a US credit card bill. Sometimes it's moving savings.

After three years of doing this, we've tried most of the options. Here's what actually works, what it costs, and what we use now.

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Why You'll Need to Transfer Money

As a Dutch-American Friendship Treaty (DAFT) entrepreneur living in the Netherlands, money flows in both directions.

US to Netherlands:

• Initial DAFT deposit (EUR 4,500)
• Moving costs
• Topping up your Dutch account

Netherlands to US:

• Paying US bills (student loans, credit cards)
• Contributing to US investments
• Paying US taxes

You'll want a reliable, affordable way to move money. The wrong method can cost you hundreds per transfer.

If you haven't set up your Dutch bank account yet, start with our guide to opening a Dutch bank account.

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Option 1: Wise (Formerly TransferWise)

Our pick for most transfers.

Wise uses the real mid-market exchange rate and charges a small, transparent fee. No hidden markups.

Typical cost: 0.4-0.6% of the transfer amount Speed: 1-2 business days Transfer limit: Up to $1,000,000 per transfer

Example: Sending $5,000 to the Netherlands costs about $25-30 in fees. You get the real exchange rate.

What we like:

• Transparent pricing shown upfront
• Multi-currency account (hold EUR and USD)
• Debit card that works in both countries
• Business account available for your eenmanszaak

What we don't like:

• Occasional delays on larger transfers (compliance checks)
• Not ideal for very large one-time transfers ($50,000+)

Pro Tip: Open a Wise multi-currency account before you move. You can hold both EUR and USD, and the debit card works internationally. It's useful for the transition period before your Dutch bank account is set up.

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Option 2: Traditional Bank Wire

Best for large, one-time transfers.

Your US bank can send an international wire transfer (SWIFT) directly to your Dutch bank account.

Typical cost: $25-50 sending fee + $10-20 receiving fee + 1-3% exchange rate markup Speed: 2-5 business days Transfer limit: Varies by bank

Example: Sending $5,000 via bank wire costs roughly $50 in fees plus $75-150 in hidden exchange rate markup. Total: $125-200.

When to use it:

• Very large transfers where you've negotiated the rate
• When required by a specific institution
• When Wise or similar services have limits that don't work

When to avoid:

• Regular monthly transfers (fees add up fast)
• Small amounts (fixed fees make it expensive)

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Option 3: OFX

Good for large transfers.

OFX targets bigger transfers and offers better rates on amounts over $10,000.

Typical cost: No fixed fee, 0.3-0.5% exchange markup Speed: 1-3 business days Transfer limit: No maximum

Best for:

• Moving large sums (initial DAFT capital, property purchases)
• Regular scheduled transfers
• Business transfers

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Option 4: PayPal / Venmo

Not recommended for international transfers.

PayPal works internationally but the fees are steep: 3-4% in exchange rate markup plus transaction fees.

We tried PayPal once to pay a US vendor from the Netherlands. The exchange rate was terrible. Never again.

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Option 5: Cryptocurrency

Some expats use stablecoins (USDC, USDT) to move money between countries.

Pros: Fast, low fees Cons: Tax reporting complexity, regulatory uncertainty, need accounts on both ends

We don't use this method, but we know people who do. If you go this route, talk to your accountant about reporting requirements in both countries.

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Cost Comparison

Here's what it actually costs to send $5,000 from the US to the Netherlands:

Method	Fees	Exchange Markup	Total Cost	Time
Wise	~$28	None (mid-market)	~$28	1-2 days
OFX	$0	~$20	~$20	1-3 days
Bank wire	~$50	~$100	~$150	2-5 days
PayPal	~$10	~$175	~$185	1-2 days

The difference adds up. If you transfer $5,000 monthly, choosing Wise over bank wires saves you roughly $1,500 per year.

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What We Actually Use

Monthly transfers: Wise. We move money 2-3 times per month in both directions. The multi-currency account makes it simple.

Large one-time transfers: OFX. When we moved our initial savings to the Netherlands, the rate was better than Wise on the larger amount.

Keeping US accounts funded: We keep several US bank accounts active and top them up via Wise when we need to pay US bills.

For choosing which US accounts to keep, see our guide to the best US banks for American expats.

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Tips for Cheaper Transfers

Watch the exchange rate. EUR/USD moves daily. If your transfer isn't urgent, wait for a favorable rate. We've saved hundreds by timing larger transfers.

Use rate alerts. Wise and OFX both let you set alerts when the rate hits your target.

Batch your transfers. One $3,000 transfer is cheaper than three $1,000 transfers. Plan ahead and move money less frequently in larger amounts.

Keep records. Every international transfer should be documented for tax purposes. Both the IRS and the Belastingdienst may want to see the trail. Screenshot the confirmation for each transfer.

Reality Check: No matter which service you use, large transfers (over $10,000) may trigger compliance checks. This is normal. Have documentation ready showing the source of funds. We've been asked for proof of income twice on larger transfers. It delayed things by a day or two, nothing more.

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Tax Implications of Transfers

Moving money between countries is not a taxable event. You're not earning income by transferring your own funds.

But you do need to report your foreign accounts. If your Dutch accounts exceed $10,000 in aggregate at any point during the year, you must file FBAR. Large transfers can push you over this threshold.

Also, exchange rate gains on transfers can technically be taxable. In practice, this matters most for very large amounts or if you're holding currency speculatively.

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The Bottom Line

For most DAFT entrepreneurs, Wise is the best default choice. Low fees, real exchange rates, fast transfers, and a multi-currency account that handles both sides.

Use OFX for larger amounts. Avoid bank wires for routine transfers. Stay far away from PayPal for international money movement.

Set it up before you move, and you'll have one less thing to worry about when you arrive.

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