Money and Tax for Europe
The future of the Euro is constantly in the news at present but all you need to concern yourself with is that the following countries use the Euro:
- The Netherlands
The currency is broken down into denominations of 50,20,10,5,2 and 1 cent and every Euro coin carries a common European image on one side, whilst the other side has a picture of something relevant to the country the coin was made in. All Euro coins can be used in any country participating in monetary union. There are seven Euro notes: 500, 200, 100,50,20,10 and 5 Euros. The notes are the same in every country.
Unless you are being paid cash in hand, if you want to work in Amsterdam you will need to open a bank account. Take as much ID as you can carry and be prepared to need help in filling out the forms. Banks won’t normally be interested in opening an account for someone who is only in the Netherlands for three months. You may have to omit to mention this if this is the case. Every bank has different requirements for opening an account, try to spend some time checking this out before you make your final decision.
Bear in mind that banks shut at 2pm, so if you need to withdraw money frequently, you should use your bank card in the cashpoint machines. Spanish cashpoints accept Switch, Visa and Delta cards.
As with all banks, when opening an account bring ID and give the bank plenty of time to arrange it.
Ibiza and Ibiza Town
Planning on working a season in Ibiza? Thinking about opening a bank account? It hardly seems worth it as you will be earning so little, and spending so much! If you are going to be working with all the relevant documentation in place (employment contract, “NIF” (tax) number and insurance) then your employer may require you to open a Spanish bank account to pay in your wages. Opening an account in Spain isn’t that complicated, you will need your passport and a deposit.
If you are looking for more general advice on travelling then visit our planning section where you can get advice on money, visas, insurance, travel safety and what to take when you are going backpacking and travelling.