Change in bank account fees for cannabis cafes

Monitoring requirement

ABN AMRO is required to monitor its business clients’ bank accounts. The bank incurs costs in carrying out these controls, and these costs differ from sector to sector. ABN AMRO recently decided to charge cannabis cafes that become clients of the bank a monthly fee of 110 euros for a business account; from 1 January, this fee will also be charged to cannabis cafes thatwere already clients. The new fee will apply to a total of around 250 clients, all of whom have been informed of the change.

Same fee as charged for business accounts outside the Netherlands

The 110-euro fee is higher than the standard fee because the bank incurs costs for these clients in fulfilling its monitoring requirement. This also applies to business bank accounts outside the Netherlands.