Dutch Business bank account application rejected – what do I do?
I received a letter from the ING Bank stating the following:
Based on the information we’ve gathered and the answers you provided to our questions, we are unfortunately unable to accept your organisation as a customer. This letter outlines why we are unable to do so. Opening a business account is not possible
While assessing your request, it became apparent that you have insufficient connection with the Netherlands. Our research has shown that your B.V. has no substantial economic activities in the Netherlands and would only execute payment activities. As a result, our customer relationship would be very limited, which leads to insufficient means to assess whether your utilisation of our services would carry risks related to Financial Economic Crime (FEC). Based on these findings, ING has decided to deny your request.
We are selling goods from the Netherlands, using a 3rd party logistics provider in the Netherlands but they somehow say we are not connected to the Netherlands and so reject us. Is this normal and what can we do?
Answer:
Your situation is not unique, many foreign entrepreneurs expanding to the Netherlands experience the same thing.’
First of all, make sure to apply at several banks. Their client policies change frequently and it can very well be that one bank is more strict than another one:
- Bunq Bank. The best online bank in the Netherlands. Click on this link to check out their offer.
- Rabobank. https://www.rabobank.nl/bedrijven/english-pages/making-and-receiving-payments/business-current-account/
- ING Bank. Only available in Dutch
- ABN AMRO Bank. https://www.abnamro.nl/nl/en/commercialbanking/home.html
- Van Lanschot Bank: https://www.vanlanschot.nl/maak-een-afspraak?pp_url=Betalen
- SNS Bank: https://www.snsbank.nl/zakelijk/zakelijk-betalen/sns-zakenrekening.html
If this does not work, you should consider appointing a resident director. If you want more advice and information, please read this full guide on opening a business bank account in the Netherlands.
