Banking when you live abroad
Our services are different for customers who live abroad and bank with us. Sometimes the changes are very minor. Sometimes there are a lot of changes and steps you need to take. Here you can read what this means for you.
Why our services are different abroad
Banking outside the Netherlands entails more risks and higher costs. It also affects your products. We must abide by the laws and rules of the country you live in. This makes it harder for us to support you.
We focus on offering services within the Netherlands. So, we have to adjust our services if you live abroad. We look at two things: the country where you live and the products you have with us
You …
Live in a country within Europe
Live in a country outside Europe
Live in the United Kingdom
If you live within the European Economic Area (EEA), the following applies:
If you live outside the European Economic Area (EEA), the following applies:
If you live in the United Kingdom, the following applies:
Check what applies to a temporary stay abroad
Are you living abroad for a short period, for example for work or study? In many cases, you can keep using your products. You cannot expand them or take out any new ones.
Are you living outside the EEA for up to three years? If so, you may apply for an exception. This will allow you to keep some products during your stay. Fill in the form ‘Application for temporary stay outside the Netherlands’. You must confirm that you will return within three years. We will aim to review your request within four weeks.
Are you living in Australia, the United States, or the United Kingdom? Special rules may apply.
Understand how KYC works
We also conduct Know Your Customer (KYC) reviews. This helps protect the financial system. We may ask questions about your move abroad. We need to understand why you bank with us and how you use your products. Based on this, we will decide whether the customer relationship can continue. If it cannot, we may terminate it.
Read more at KYC – Rabobank (Dutch).
Check what your insurance covers
Moving abroad may affect your insurance coverage. This depends on the policy conditions and local laws. Always check your coverage.
• No coverage according to your policy?
Terminate your insurance using the Rabo App or Rabo Online Banking. If this does not work, contact us.
• Coverage still applies?
You may keep your insurance. You can make changes using the Rabo App or Rabo Online Banking.
You cannot take out an new insurance abroad
You cannot take out any new insurance or expand an existing policy while living abroad.
Are you planning to return to the Netherlands and want to insure your new home? Contact us.
Check coverage per type of insurance
Home and contents insurance
Coverage often continues for Dutch real estate. Always check your policy conditions.
Other non life insurance
Coverage often stops when you live abroad. Terminate your insurance if necessary.
Term life insurance
Coverage often continues. Changes may not be possible. There may be tax implications.
Health insurance
Living abroad usually affects coverage. This depends on your situation.
Capital and annuity insurance
Coverage often continues. There may be tax and inheritance implications.
Save or invest to top up your pension
With a pension product, you save or invest to supplement your income after retirement. Moving abroad may have tax implications.
Our pension products are Rabo ToekomstSparen, Rabo ToekomstBeleggen, Rabo ToekomstUitkering, Rabo GoudenHanddrukSparen, and Rabo GoudenHanddrukUitkering.
If you plan to move abroad, check what this means for your pension products.
Paying a surcharge when you live abroad
Since September 1, 2022, anyone living abroad has had to pay more for a payment account. This is the foreign residence surcharge. Switching to a local bank may be cheaper. You will receive information from us about this.