According to the ‘Economist Intelligence Unit’ (‘EIU’), the Netherlands is not an expensive place to live compared to other countries around the world.
Experience has shown that students living and studying in the Netherlands for one year spend an average of between EUR 800 and EUR 1,100 per month.
The Dutch currency unit is the Euro (i.e. abbreviated to ‘EUR’ or ‘€’). One Euro is made up of one hundred Euro Cents.
Managing your finances
On one of the fixed arrival dates, you will be issued with information regarding the procedure for opening a Dutch bank account.
Not all Automatic Teller Machines (ATM’s) accept bankcards from other countries and, due to occasional computer problems, you may not always be able to withdraw money from your bank account at home.
Therefore, it is a good idea not to rely on being able to use your home bank account at all times and to open a Dutch bank account, particularly if you are planning to stay in the Netherlands for any longer than five or six months.