ING will increase the rates for all retail payment packages starting January 1st by € 0.80. This is the largest increase the bank has ever implemented, a spokesperson told NU.nl when asked.
“We understand that this is a sharp increase. Over the years the costs continue to rise,” explains the spokesperson. The cheapest package now costs – with a discount – 1.90 euros. They will be 2.70 euros, with an increase of 42%.
According to ING, several issues are leading consumers to have to pay more and more to have a checking account. “More and more customers are using digital banking, making traditional banking relatively more expensive,” the spokesperson said.
These costs are shared between all account holders. Banks also invest heavily in the fight against money laundering. “I can imagine this seems far from their bed for consumers, but we are legally obligated to monitor it and that costs a lot of money too.”
Banks also invest heavily in keeping digital banking safe. “For example, when something is changed in the app. There is a lot of work behind it.”
