Letter to retail clients being sent out starting this week

ABN AMRO is continually investing in a whole range of payment methods that are easy, quick and secure for clients to use.

The investment costs involved are quite high, and the same goes for the costs the bank incurs in keeping payments secure and in detecting fraud. This includes anti-money-laundering checks, client screening, 24/7 transaction monitoring, and investigations into and the reporting of incidents related to payments. Last but not least, we believe it is important to continue enabling our less digitally-savvy clients to conduct their day-to-day banking securely and easily, so we offer them the support of our financial coaches. The services of these coaches are being used much more extensively than before.

As a result of the above developments, the price of a payment package for retail clients will go up from EUR 1.95 to EUR 2.95 per month starting on 1 July. More information on the new fees can be found on the web page on fees from 1 july 2022.

Fees for the cost of client due diligence checks

In the coming weeks, some business clients will also be getting a letter. We will be telling these clients about the costs of client due diligence checks and transaction monitoring—costs the bank incurs in its gatekeeper role. These costs are significant and are on the rise. Depending on the legal form of a business, business clients will start to pay a portion of the client due diligence costs as of 1 July. This is a monthly fee that will vary depending on the legal form of the business. The more complex a business form, the more client due diligence is required and the higher the applicable fee. For simpler legal forms such as a sole proprietorship and a general partnership, there will be no fee. A specific fee already applied to certain client groups, and these companies do not have to pay this fee for the costs of client due diligence checks. More information on the fees can be found on the entity pricing web page.