Money 
At this time, we are still using guilders as the currency. Soon the
Euro will make its debut. Already, you see prices in both Dfl. and
Euros. For a quick calculation you can average a 2 to 1 exchange - Dfl 2
to $1. Yes, we know, that exchange rates change but trust us on this
one. The Euro to dollar exchange is about 1 to 1.
When writing a money amount, the Dutch use a comma to separate the cents
from the guilders. You'll see a price written like this Dfl 2,95.
Values in thousands are not separated by commas but instead use a decimal point,
like this Dfl 3.500,00.
Banking
Is done a little differently than home. There is no such thing as a
personal check. The payee sends you an "giro" in the mail for the
amount you owe. The "giro" looks like a filled-in check, you
write in your bank account number (if it isn't already there), sign it, and
simply send it to your bank. Your bank then sends the money to the payee's
bank and the bill is paid. It's really easy and many banks give you postage paid
envelops for this purpose.
Most Dutch are paid once a month and the money is automatically deposited
into their bank accounts. You'll received statements every two weeks
showing your balance, credits and debits.
To open a Dutch bank account, you might need your passport, residency card
and letter from your employer confirming employment.
The banking system is dominated by the big
four Dutch banks who have branches throughout the country:
- Rabobank
(Dutch site)
- ABN-AMRO
(Dutch site) Offers statements and other information in English.
- ING
(Internationale Nederlanden
Group, Dutch site) the ING
group also owns American banks in the USA
- Postbank:
(Dutch site, part of the ING group): offers many of the same services as
banks, such as checking and saving accounts, transfers of money. Fees may be
lower and the opening hours may be more practical. It is open on Saturday
mornings.
Credit Cards
Totally different world here. In the Eindhoven region you'll be hard
pressed to find many shops, which will take the card. When you see a
wonderful sofa, you'll pay cash for it. Oh, okay, your bank will give you
a credit card, but it really is a debit card. Everything you charge is
paid in full by the end of the month. On a side note: The wonderful
sofa is a floor model only. You'll have to order it and wait anywhere from
two to six months for delivery. Have cash ready when the delivery boys
come.
The Dutch don't buy on credit as a rule. If you don't have the money,
you don't buy it. Save your money and maybe it will be on sale, which is
what the Dutch really live for.
| 