The Netherlands is home to some of the world's banking giants. Before you open a Dutch bank account, you should have no problem obtaining cash from an overseas account using an ATM or geldautomaat.They dispense money (in several languages) and accept a wide range of debit and credit cards.

The amount you can withdraw and any extra service charges will depend on what kind of account you have and where it is. There should be no charge if you are using a card from one of the 17 eurozone countries (Britain is not one of them). If you want to exchange cash, good rates can usually be found at the Post Office (postkantoor) or a GWK exchange office. Other banks and bureaus mostly don't offer such good rates and/or higher commission.

The Netherlands has had the euro since 2002 and paper denominations are EUR 5, 10, 20, 50,100, 200 and 500 though you may encounter problems using anything bigger than a EUR 50 note. The coins, with an image of Queen Beatrix on the back, come in denominations of EUR 1, EUR 2, and 5, 10, 20 and 50 eurocents. Coins for 1 and 2 eurocents have been discontinued but prices will be quoted exactly, for instance, as EUR 37, 21, but will be rounded up to the nearest 5 eurocents for giving change. On bank statements, the exact figure will appear.

All major credit cards are accepted but not everywhere. Hotels, restaurants, large department stores and tourist attractions present no problem, but you can't use a credit card in the supermarket. Cash is still widely used, even for large transactions. But the most common method of payment is pinnen, using a debit card plus PIN code.

The main Dutch banks are:
ABN-AMRO (www.abnamro.nl)
ING Bank (www.ingbank.nl)
Rabobank (www.rabobank.nl)
SNS (www.snsbank.nl)

ABN-AMRO, which is now nationalised, has the most information in English online and a special expat package but you should generally have no problem conducting business in English at any of them. Postbank merged with ING in 2009.

Documents legally required:
•    Passport and/or residence permit
•   Burgerservicenummer (BSN). You'll get this when you register with the GBA or direct from the tax office.
•    Proof of address (bevolkingsregister extract, utility bill, rental contract etc)
•    If you want to open anything other than a savings only account you will also need:
•    Evidence of income such as an employment contract or payslip.

The credit rating of new clients may be checked with the Central Credit Registration Office (BKR). An account can be opened in your name and your partner's (they will also need identity documents).

A private bank account is a privérekening. Various cards are on offer but the bankpas  is standard. You must pick up the pass personally (with ID). A four-digit pincode (pinpas) will be posted separately but you can change this at a bank. When you pay by pin, you swipe your card through the machine and punch in your four-digit number. It's the most common method of payment used in shops, supermarkets, bars and restaurants.

Chipknip/Chippas/Chippen
Next to many ATMs is a Chipknip machine where you can load your card with `virtual cash'. The money is immediately deducted from your account and `sits' on your card until it is used; if you lose the card though, the money is also lost, just like cash. Chipknip was intended as a fast, convenient way of paying for small transactions, since unlike with pinnen payments, you don't need a PIN. However, the Chipknip system is gradually being phased out as pinpas is increasingly used for small transactions.

Credit cards
Commercial banks usually have an arrangement with Mastercard or VISA but you will generally need to be a customer for a while before getting one. A credit card will be more expensive than other bank cards and you will be encouraged to pay off the card swiftly and consistently.

Internet banking
Online banking is common in the Netherlands. You will generally be issued with a calculator-sized device into which you slot your bankpas and enter your PIN and than you exchange numbers with the login system to gain authorised access to your account. You can pay bills directly or set up direct debits (automatische overschrijving) for regular payments. There is usually information in English but you can also get step-by-step tuition at the bank.

Acceptgiro
A common method for paying bills, this is a yellow payment slip attached to the bottom of an invoice into which you enter your bank details and sign. You can pay online into the account on the slip or 'post' it at the bank; there's a box for them.

Offshore banking
The term ‘offshore banking‘ originates from the Channel Islands (Jersey, Guernsey etc) but is generally used today to refer to any tax haven (such as the Netherlands Antilles). Essentially, it is any account held in a bank located outside your country of residence in a low tax jurisdiction offering certain financial benefits for expatriates who may wish to reduce their tax liability.

Accounts can be held in a variety of currencies and there's a diverse range of savings and investment products backed up by a high degree of confidentiality.

Even though the bank is not located in the country of residence, you still have to report your savings and  investments to the Dutch tax authorities.  Dutch tax residents pay tax on their worldwide savings and investments, which also includes offshore accounts. However, expats who have the 30 percent ruling can opt to be treated as a non-resident tax payer for their savings and investments. With this option, taxation on all savings and investments can be avoided.

Pensions, investments and savings can all be arranged offshore. Interest rates for savings can be fixed or variable; some offshore banks' websites provide tools to predict investment returns. The type of fund and level of appropriate risk will obviously depend on individual circumstances. In the current economic climate, there are additional risks to depositing money offshore: recent bank mergers, differing protection schemes and deposits held in a different country to the bank's service centre can mean investors are unclear about how safe their deposits are.
 
Financial advisor Craig Welsh of Spectrum IFA Group in Amsterdam, urges expats to ask these basic questions: Which bank is my money in; who owns the bank; what is its credit worthiness; and which jurisdiction does it fall under? It has become more important than ever to work with a trusted independent financial advisor who is experienced with assessing the tax position for expats in the Netherlands.

Updated with the help of financial advisor and Expatica Tax experts Frank de Bats and Finsens Planning.

 Both companies are available to answer your questions Expatica's Ask the expert section.