Banks are asking companies, foundations and churches to contribute to money laundering investigations

Banks quickly introduced a new surcharge for business customers. Businesses, charities and churches, among others, now have to pay a monthly amount for the costs incurred by banks in monitoring money laundering and terrorist financing.

ABN Amro, ING and SNS have introduced the so-called “customer cost survey” in recent months. Rabobank will be the last major bank to start next week.

It means that associations, foundations and people with a BV see a few euros disappear from their account every month due to the expenses incurred by the banks. Someone with multiple accounts has to pay per account. This generates tens of millions of euros for the banks every year.

“In recent years we have seen that costs for banks have increased considerably,” says Helène Erftemeijer of the Dutch Banking Association. “13,000 people in banks are doing this customer survey. Now we can find these higher costs in customer bills as well.”

“Bizarre and ridiculous,” says a spokesman for VNO-NCW and MKB Nederland of the new levy. “Entrepreneurs are already suffering a lot from the banks’ anti-money laundering measures because they are stricter than they should be. And now the bill is also for the entrepreneurs”.

Even religious confessions complain about the costs, because they have to pay more than the foundations of some banks. “All the extra costs are too much for parishes, which must consist largely of voluntary contributions from church members,” said Roman Catholic Church spokeswoman Anna Kruse. “It is undesirable that churches, despite their value to society, should have to pay more, partly because of legislation that doesn’t really apply to them.”

Persons who have their own pension managed and have set up a limited company for this purpose must also pay anti-money laundering checks monthly. Jacques Lansbergen of Berkel en Rodenrijs received a letter from Rabobank about the higher costs. He filed an objection. “I got a little angry and that’s an understatement,” says Lansbergen. “I have to pay almost 120 euros more a year to a company account that I only use for my retirement.”

“As a Dutch pension company, what do I do with money laundering? If a bank employee looks at my bank statement once a month, he will see a pension line on it. And then I have to pay for customer research “.

His objection was rejected. She is considering closing his account, but has now seen that other banks are also charging for these costs.

Helène Erftemeijer of the Dutch Banking Association says it makes sense that people with a BV pension would also pay extra. “We have to identify the client, verify the purpose and nature of the relationship and various risk factors. This includes the origin of the funds. There are many questions that need to be asked by banks and sometimes need to be repeated.”

Banks are calling for more flexible rules for sectors where money laundering risks are lower. “This way we can reduce costs and this in turn benefits the customer,” says Erftemeijer. The banks are talking to regulator De Nederlandsche Bank, among others, about ways to reduce check costs.