Why do the people of the Netherlands live far away from credit, do not even like credit cards

The culture is very different in Europe, there the mentality of the people regarding the economy is also different. Still, there is a difference in this in many countries. Something similar is also seen in the Netherlands in northwestern Europe. Here people stay away from credit cards and loans. There are many reasons behind this, here the mentality of people regarding money and expenses is very different and this is the reason that the payment system here is different and foreigners face the problem of adjusting with the system here. It is interesting to know why the Dutch people 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 of the 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 play
In fact, only debit cards work in the Netherlands, and the system there also rejects foreign debit cards and accepts only Dutch version debit cards. Only dut bank cards work there which goes directly to the merchant without any middleman thus reducing the cost of doing business.

Don’t like loan only
The biggest reason for this is that the Dutch people do not like loans or loans, they do not believe in the system of lending in the credit system. Here only 55 percent people have credit cards, out of which only 62 percent people use them when they are abroad. This is very less for a developed country.

Payment in the Netherlands is accepted by local debit cards only. (Representational photo: Pixabay)

cultural approach to lending
The mindset of the people here can be gauged from the fact that even 30 percent of the people who have a credit card 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 defamation for borrowing, which is a part of the ingrained thinking in the culture here. People think that loan cannot be taken without guilt.

So are the people here stingy?
It may be an exaggeration to say stingy, but Dutch people are definitely frugal. They believe a lot in savings. And pay more attention to the value of every penny. Using a credit card here is considered irresponsible or unwise. Whenever they make a purchase, they pay from their bank account itself, that is, they first save money and then make a purchase.

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Tags: Credit card, Economy, Netherlands, Research, World