Rabobank.be will close completely on September 1 | banking

The Dutch group Rabobank announced in June last year that it would discontinue its Belgian savings activities, after no buyer had been found. Collective redundancies were requested for 53 employees.

Construction has been underway ever since. The term accounts were closed first, followed by the savings accounts on 1 July of this year. The money that is still in those accounts is automatically placed on the current account. Customers then have three months to move their money to another bank. The current accounts will be closed on September 1, immediately the end of Rabobank.be’s activities.

The money that is still with Rabobank.be at that time is not lost. It is transferred to the Deposit and Consignment Office at the Federal Public Service Finance. There it can be requested up to thirty years after the transfer via the digital application e-DEPO.

Rabobank.be has announced that since the announcement of the shutdown, approximately 100,000 customers have closed their accounts. That’s about half. They accounted for 5 of the 7 billion euros in the accounts. There is now just under 2 billion euros in the online savings bank.

Rabobank.be has existed in Belgium since 2002. For a long time, the savings bank lured savers with high interest rates. In recent years, the activities have been systematically scaled down. For example, in 2018 the investment products were taken over by Keytrade Bank, in 2019 the company accounts were closed. The wholesale department (services for large companies) of Rabobank in Belgium will remain active.