How to pay fewer bank transfer fees

How to pay fewer bank transfer fees

12 June 2018 by Dilyana
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Banking for some students is not so easy as for the Dutch students. Some students come from countries where the euro is still not introduced which causes a lot of hassles. If you have a foreigner currency and you need euro, eventually there will be always some loss of your money, but it hurts the most when you need to pay a 20-euro transfer fee for your rent; or a percentage of your withdrawn ATM money. Behold, there is a way that you can go around those fees if you don’t have a Dutch bank account or you don’t have money on your Dutch bank account.


PayPal seems to be one of the best ways to avoid using your foreign banking transfer card. If two people already have a PayPal account, they can send money to each other by using emails. The system works basically by uploading your money to no- bank- transfer-fee website from which you can pay a lot of items as from top up on your phone to a plane ticket. Normally banks do not charge extra if you need to pay on a website, but it charges extra for transferring and withdrawing money. So, find a friend who can withdraw for free and transfer him some cash so to avoid the fee, or make a second account with your empty Dutch card and second email and transfer the money to yourself. PayPal has an app which makes the transfer very fast and easy.


Revolut will win your heart. It is very similar to PayPal but just for 10 euro, you can have an extra, tangible, debit card from which you can withdraw money for no-bank-charge.  The process is again “uploading” your money to a website from which you can transfer to another bank account. However, the most exciting part is the physical Visa card that you get at your post. The card is as the website. It has uploaded money from your bank account. Basically, you can withdraw with the card without costs. It is a great bank card for parties. Imagine, you can put 20 euro- you will spend just 20 euro and if you lose it, you can access the “uploaded” money and transfer them back to your real card.


Transferwise is a bank website where you can decrease drastically the transfer fee from your bank. You will be able to send and receive money from others with an ease. The transferwise also has a Master debit card with which you can avoid ATM withdrawing fees. The transfer fees will be approximately 4-5 euro which is considerable amount comparing to the 20 euro one.

Other cool banking apps

Other banking related apps that I have been using for a while are expense sharing app and a websitecalled Wiebetaalwat (in English- who pays what). The sharing expense app works by creating a group of friends at an event and everybody inputs their costs related to the group. In the end, the app calculates who owes money to who and how much. It is a fair way of splitting costs and a subtle way of reminding friends about owing you money.

The other app that I have heard is good is called Android Pay which basically allows you to touch your phone near the e-pass machine through NFC and pay your bill. I have seen people paying like at in supermarkets which is convenient in case you forget your card, or you lose it.

Those are the apps and bank websites I have used and as an active traveler, those platforms are convenient for several reasons. For example, if you lose your original card or it gets stole, you will have an alternative payment method until you receive your new bank card. The other plus is that most of the websites are accepting payment with those websites so many times you can book a ticket, a cab, or an event faster through your phone than inputting the details yourself. As well, it is a plus that you can follow your expenses easier and eventually even safe some money. Groningen is the new Silicon Valley with exceptional ecosystem of fast-growing startups, innovation, and sustainability. So, I am definitely looking forward to all kind of cryptocurrency payment apps, shops and cards accepted in Groningen.