Products
Arranging your finances: an overview
Living and working in a new country can sometimes prove stressful. In particular, in terms of finances, you will probably have a great deal to arrange. ABN AMRO will help you to find the right solutions and make the financial side of your transition abroad simple.
To help you arrange your financial affairs quickly and efficiently, we have collected some useful information for you.
Payments
Online Banking
You can manage your account 24/7, safe, quick and easy. All you need is a PC with internet connection, the World card and the e.dentifier that comes with the package.
Mobile Banking
Mobile banking wherever and whenever you want it:
ABN AMRO Mobile Banking enables you to check your account, view your debits and credits and transfer money via your mobile phone or tablet, anywhere in the world. You can also simply attach photos and texts to your accounts, and give them specific names. It makes for save, straightforward and personalised banking.
Mobile Banking is available for both iPhone and iPad and for telephones fitted with Android and for Blackberry.
Credit and loans
Arranging credit
We offer two types of loans: private loans (a fixed amount of money to pay back in instalments) and revolving credits (a credit limit on an account to which you must make a monthly contribution). Whichever loan you use, you must provide security for the money borrowed. For this purpose, we are legally required to consider your income, assets and liabilities. If you are thinking about taking out a loan, please contact us for more information.
Insurances
Property Insurance
Whether you buy or rent a house, the property and its contents need to be insured. A Contents Insurance policy covers the financial risks arising from fire, burglary, and weather damage to your personal property, including everything in the garage and shed. If you own a house, you will need coverage to rebuild it if your home is damaged due to an unfortunate event. We offer both policies as a packagedeal at an attractive price.
Car and Travel Insurance
From required legal liability to all-risk cover, we offer the insurance that you will need for your car. A travel insurance policy is another essential, especially for people who travel frequently (expats and their family, for example). This insurance, which can cover all family members if desired, covers the loss or theft of luggage, medical costs and assistance, cancellation costs, and many other risks involved in travelling.
Liability and Legal Expenses Insurance
A legal conflict can occur in many situations. For that reason, it is a good idea to have your legal costs covered by an insurance policy.
Our policies offer the following:
- Free legal assistance, even if the case is not covered
- 24/7 availability
- World coverage for traffic cases.
Many people also take out a liability policy. This insurance protects you from claims initiated by another party. This is not compulsory like health insurance, but it is a very cost-effective way to cover costs that could arise if you accidently damage someone else’s property.
Saving products
The Dutch are known for being canny with their money: they practically invented saving. There are countless ways to save money, such as with a monthly fixed amount or whenever your budget allows. You can save with a specific goal in mind, or put away an amount in case something unexpected occurs. You can save for yourself or your child or grandchild. Whatever you choose, we always offer attractive interest rates. The easiest - and most effective - way to save is automatically. You can arrange this online or through your advisor.
Investments
Like savings, investments are a way to increase the value of your capital. However, there are more risks involved when you invest. When carefully executed, the risks of investing are offset by stronger capital growth.
Here in the Netherlands, investment funds for consumers are closely supervised by the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten / AFM). Your ABN AMRO Preferred Banker is required to strictly adhere to the rules; he or she has the proper education and must pass examinations annually. Therefore, consulting with your ABN AMRO Preferred Banker is the best way to balance risks against revenues, and your Preferred Banker is the best choice to watch over your investments. When you decide to invest your capital, you will talk with your Preferred Banker to assess your goals, the level of risk you can and want to take, and how much involved you want to be in managing your investments. After that, you will receive a tailor-made profile and recommendations on the best ways to invest.
Mortgages
If you are staying in the Netherlands for a longer period, buying a house may be an attractive option. If you are eligible for a mortgage, you will enjoy various tax advantages, even as an expat. So, when you are thinking about where you want to live, also consider whether you would like to buy or rent.
You can choose from several types of mortgages, such as a mortgage in which you only pay back 50% of the total sum, or a fixed monthly amount that includes interest and payment on the principal. These options have various benefits and drawbacks, along with their specific tax advantages. Your preferred banker will be happy to find the best solution for you.
Pension plans and provisions
Pensions in the Netherlands are based on three pillars: the General Pensions Act (AOW), your employer’s pension plan (note: not every employer offers this) and a private pension plan. The Dutch Tax Administration offers various provisions and tax relief measures for saving for the future. A pension plan is therefore tax deductable to a certain extent. You may want to contact your Preferred Banker to find out what kind of future provisions you may need, and what tax relief options apply to your situation.
