Why Dutch People Live Far Away From Credit, Don’t Even Like Credit Cards

The culture is very different in Europe, there the mentality of people vis-à-vis the economy is also different. Yet there is a difference in this respect in many countries. Something similar is also seen in the Netherlands in northwestern Europe. Here people avoid credit cards and loans. There are many reasons behind this, here people’s mentality about money and spending is very different and that’s the reason why the payment system here is different and foreigners face the problem of adapting to the system here. It is interesting to know why the Dutch are so isolated from the world.

international card problem
The payment system itself is very different in the Netherlands. Here, payment via Maestro or Ideol is more common and is the only option in most stores. Therefore, many foreign tourists have to face many problems when they come here because international level cards like Visa or MasterCard are no longer useful in the Netherlands.

what cards to play
In fact, only debit cards work in the Netherlands, and the system there also rejects foreign debit cards and only accepts Dutch version debit cards. Only bank cards work there, which go directly to the merchant without any middlemen, thus reducing the cost of doing business.

I don’t like loan only
The main reason for this is that the Dutch do not like loans or loans, they do not believe in the loan system in the credit system. Here, only 55% of people have credit cards, of which only 62% use them when abroad. It is much less for a developed country.

cultural approach to lending
The mindset of people here can be gauged by the fact that even 30% of people who have credit cards do not consider it safe and reliable. The basic reason behind this type of thinking is that here in the culture people have a sense of vilification for borrowing, which is part of the thinking rooted in the culture here. People think that the loan cannot be taken without guilt.

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Tags: credit card, economy, The Netherlands, research, world