The Disputes Committee of the Kifid complaints institute decided on Monday that banks are allowed to do this. In this case, it concerns a case in which larger amounts play a role. ABN AMRO customers have had to pay since 1 July 2021 if they want to withdraw more than 12,000 euros per year. Two ABN AMRO clients were not happy about this and complained to Kifid to no avail.
For every withdrawal that exceeds 12,000 euros per year, ABN customers have to pay 5 euros plus 0.5 percent of the amount withdrawn. The customers found the monthly standard costs that everyone already has for a checking account more than enough.
According to the Kifid, there must be a valid reason for charging the extra costs, but the bank does have one. Because when withdrawing such large amounts, the bank sees “a lot of dubious payments”. But the customers also felt that the bank itself is responsible for detecting money laundering practices.
It can get tough
But costs are also increasingly being charged for smaller amounts by debit card, says budget coach Corine Langeveld Heart of the Netherlands† “The rates are not yet known at all banks, but if you are a student, you can use the debit card twelve times for free. After that you pay 80 cents per transaction. Then it will go up really fast.”
Arian Vliegenthart of Nibud (National Institute for Budget Information) fears that especially people with a smaller budget will run into problems. “For some people, cash is the best way to keep track of the household budget. Certain groups of people are harassed, such as the elderly. Or people who receive a living allowance.”
Source: Heart of the Netherlands/ANP