4

Starting July 2021, ABN AMRO has introduced a steep fee on accounts of people living outside NL: Between 2 and 15 EUR / month just for having the account, depending on the country you live in. This affects expats, and former expats in the NL - like myself - who have now moved on to another country.

My question: Is there anything I can do about this other than transfer the funds to a bank account in whichever country I live in now?

Specifically, is it possible to move my account to another bank, (which doesn't charge such a steep fee from non-residents), without having to visit the Netherlands to register and go through infinite hassle?

Note: I no longer reside in the Netherlands, or Europe. If your answer depends on residency or citizenship status, write your answer and just say so.

einpoklum
  • 2,798
  • 1
  • 15
  • 34
  • An option not mentioned in the question is to close the account and put the money in another bank in the Netherlands. Is there a reason you're not considering that? – phoog Aug 25 '21 at 12:30
  • @phoog: On the contrary, I am considering that. Let me clarify... – einpoklum Aug 25 '21 at 13:11
  • What does “between 2 and 15”. €15 does add up but €2 isn't a steep fee. Before getting to the registration part, I don't even know a cheaper option in the Netherlands. I used to pay a little less but €1.95 a month is the currrently advertised price for an ABN-AMRO bank account with a debit card, for everybody (not only expats). – Relaxed Aug 25 '21 at 19:32
  • @Relaxed: It's either 2, 8 or 15. For me it's 8. 8x12 = 96 EUR per year for a mostly dormant account. – einpoklum Aug 25 '21 at 20:17
  • @einpoklum What I was wondering is on what the difference was based and what prevented you from paying €2. I found this page explaining it and I now understand that it's at least €2 on top of the regular fee and it depends on your country of residence. I would recommend adding all that to the question to make it clearer. – Relaxed Aug 27 '21 at 05:35
  • @Relaxed: See edit. – einpoklum Aug 27 '21 at 05:56
  • Even if it’s possible to organise a transfer to another bank remotely, you could find that they introduce a similar charging structure in due course. – Traveller Aug 27 '21 at 09:12
  • @Traveller: ... which is why I'm asking about that here :-) – einpoklum Aug 27 '21 at 09:13
  • So you’re asking a) can you do this remotely b) if so, to which bank(s) and c) whether any of those banks will change their stance on non-resident accounts / tariffs in the future? – Traveller Aug 27 '21 at 10:01
  • @Traveller: We can't tell the future; but switching to another bank is an option I'm asking about - one option. Perhaps I can deposit the money into some sort of investment / savings scheme instead, then close the bank account? Or something else I haven't thought about? – einpoklum Aug 27 '21 at 13:55
  • Do you still have a residence in the EU? I think that's often a condition for opening a new bank account, or at least it makes the process a lot easier. If not, what are you hoping to gain by keeping a bank account in the Netherlands? Do you need the IBAN, does it need to be a Dutch IBAN or maybe you just want an account in euro? I don't think savings schemes are interesting at the moment, with low interest rates banks don't really need your money and having to deal with customers who don't pay for other products is just extra work for banks. – JJJ Sep 27 '21 at 04:34
  • 1
    @JJJ: See edit. I've actually become a citizen of another EU member, but my Dutch residence has expired. As for what I'm hoping to gain - I'm not entirely sure, but at the very least I hope to avoid the fees of moving my positive balance out to another bank in another country. – einpoklum Sep 27 '21 at 07:47
  • Fees are not a concern as long as you move the money to a bank account in a SEPA country. That broadens the scope beyond the Netherlands and a I know a few options to open such an account online relatively painlessly (Revolut or N26 in multiple EU countries, Fortuneo or Boursorama in France, etc.) It's easier than opening an account with a Dutch bank but they still require fiscal residence so that's not a full solution yet (a US-based Revolut account won't help you either). – Relaxed Sep 27 '21 at 21:05

0 Answers0