Screenshot of Rabobank Current Accounts Home Page

Current accounts are integral to the daily operations of funds, and those without soon find it difficult to perform their daily transactions. It is, therefore, important that banks offer accounts suited to a wider portion of the market and not just a generic approach. This review takes a closer look at what Rabobank Current Accounts has to offer, and whether customers will have their needs met. The measuring tool is on a global scale to ensure the bank remains competitive.

Compare this range of savings to that of National Bank of Abu Dhabi.

About Rabobank

Rabobank, with its head office in Utrecht, Netherlands is a cooperative socially responsible bank, with the aim to contribute substantially to the welfare and prosperity of the Netherlands.

Starting out as an agricultural bank, they have grown into a multinational financial institution with branches all over the world, offering an array of banking and financial services, putting sustainability high up on the agenda. It is the second largest bank in the Netherlands, according to its assets and has the following share in the Dutch market: 21% in Mortgages, 34% in Savings, 43% in Trade and Industry and 84% in Agriculture.

Screenshot of Rabobank History

Is It Always Necessary to Have a Current Account?

Current accounts are not always the main account and in certain countries, the savings account performs many of the same functions as a current account would. Those who need to make the decision between a current and a savings account should consider what those changes entail. For instance, in many instances, the current accounts offer bundled pricing, which allows consumers to save on their monthly account fees. This is only a boon to those who perform many transactions.

Furthermore, current accounts often build up an internal rating with the bank. This often exposes clients to additional products and services they would ordinarily have to apply for through other channels.

Those who prefer to keep it simple and rather only have access to their savings, will find there could be a few restrictions. For instance, savings accounts are very rarely issued with debit cards that have online capabilities. They may also find it difficult to book the rental of a card or use the card at tolls. They may, however, save on banking fees as the general monthly account fee is often lower than other banking products.

Finally, customers who wish to have access to an overdraft facility are often required to have a current account. Many banks across the world don’t allow overdraft facilities on savings accounts. This means during those tough months, there is the possibility that items will be dishonored, which not only brings down the rating of the account, but also the reputation of the customer.  

Rabobank Current Accounts Product Offerings

Screenshot of Rabobank Current Account Packages

Everyone should be able to arrange banking matters as efficiently and cheaply as possible. At Rabobank, his is possible with packages that can be tailored to suit your every need. You can already open a bank account for as little as € 1.30 per month.  Standard with this option comes a bank card and online banking plus contactless payment with bank card. Rabo Alerts via SMS and e-mail are featured and the possibility to open a joint account. Included in the standard package is discount on a Rabobank mortgage. The bank account is standard part of a payment package. At Rabobank different payment packages are on offer.  Customise your payment package to suit your requirements and only pay for what you need. The  Package Picker makes it super easy.

A bank that has an impressive range of current accounts, is State Bank of India. 

Direct Package

  •     This is the most economical package at  €1.30 per month.
  •     It comes standard with a debit card and is available online.
  •     It's easy enough to apply online following a few easy steps on the Rabobank Website.

Basic Package

  •     This package is a bit more expensive at € 2.70 per month, but has more free options comes with a free credit card and a spending limit of €  1000.00.
  •     Banking on paper is possible, should you need it.

Total Package

  •     Coming in at a monthly rate of € 4.60 per month, it sports an extra bank card at no extra cost.
  •     A gold credit card with a spending limit of € 2500 and no extra cost should you happen to do a debit card payment outside of Europe.
  •     Another great freebie is the 25% discount on travel insurance. Additional cost on this account is minimal.

Rabo Youth Account

Are you considering an account for your child, younger than 18 Rabobank has the solution.

  •     As a parent or caregiver, you will have control of what your child can do with his/her savings account.
  •     You can arrange everything online via the Rabobank app. Request your own pass for your child and apply for a pin.
  •     You can turn online banking on and set card limits and you can turn contactless payments on or off.
  •     The card can be used outside of Europe.
  •     You can also set alerts for you and your child

Is your child between 0 and 18 years old? Then you can easily open a Rabo Youth Account online for your child free of charge.

  •     You must then have a Rabo current account with Rabo Internet Banking.
  •     You and your child may pick will be permitted to choose a gift together online.
  •     Once the Rabo Youth Account the account is opened, the youth account is directly linked to you as the applicant in the online environment. This means that you, as a parent or caregiver, always have insight into your child's account.

Children's Application

For children from 6 to 12 years old Rabobank has a new app: Rabo PinPin.

  •     Children learn playfully about everything about money.
  •     They will be keen to save pocket money and you can keep a watchful eye as to what is saved and what is spent.
  •     As a parent or caregiver, you have the option to link the Rabo Youth Account of your child to Rabo PinPin. This allows your child to check their own balance within the app and come up with piggy banks.
  •     Your child can play mini-games to earn more pegs for PinPin.
  •     By linking to your child's payment account, your son or daughter can check their own balance on the account


PASSI is Rabobank's new debit card that belongs to the Rabo Youth Account designed for the 12 to 18 year age group.

  •     Your child can pay with the pass and arrange other money matters with your permission, but we also offer exclusivity especially for PASSI holders
  •     We want to help and inspire young people to make money and discover their talents.
  •     With the Rabo Youth Account your child can receive a free bank card. You give permission for this as a legal representative.
  •     You can also arrange this online.

What We Like About Rabobank Current Accounts

All packages are available online which makes it convenient for those who can’t make the journey to the branch all the time. It also starts off with fees as low as €1.30. The accounts also offer many additional benefits, such as an extra card available on certain accounts for your spouse/partner. The youth and children’s account can be monitored by the responsible adult in their lives.

Furthermore, other benefits include special discount on the Interpol Travel Insurance which makes it a great choice for those who travel a lot. The convenience of banking with Rabobank cannot be overstated, as customers have access to various platforms.  All business can be conducted on iPhone or other android phone or tablet. Those who happen to open their accounts online have the benefit of an approval done within 24 hours.

Finally, customers remain in control as far as their options are concerned. They have the choice of adding on additional services and products. They also have a number of options available to them where the basic accounts are concerned.

Royal Bank of Scotland has an interesting review on their current account range.

What We Don’t Like About Rabobank Current Accounts

Rabobank, by having everything available online, cuts the customer short of human interaction. Although this is a good thing for those who are a whizz on the internet, the older generation might not find it so easy. This being said, they have a chat area where a client or prospective client can contact an employee of the bank and the ask the relevant questions.  How easy will this be for an older person on a smartphone remains to be seen

Critical Reviews Rating Rabobank Current Accounts – 9 of 10

Screenshot Rabobank Current Accounts Additional Accounts and Services

Customers who wish to have a simple approach to their banking will find what they need at Rabobank. These accounts are designed with customers in mind, and offer just what customers need to perform all their transactions. The pricing is reasonable and clearly communicated, which means customers know exactly what they’re getting themselves into.

There is only one detractor that we can find on this range and it is that of convenience for seniors. None of the packages aim specifically at seniors. This makes it a little easier for other banks to poach these clients. If the bank introduces a product that makes the range a little more inviting to them, the perfect rating is theirs.

Find out whether DBS Bank meets the mark with their full review.