After account management fees, Germany’s largest direct bank ING will charge fees for services from abroad from September 1, 2020. This is reported by the online portal “Mobiflip”.
Withdrawals from abroad are no longer taken over by ING; In addition, the cost of payments with a checking or visiting card abroad increases.
If you do not want this, you can cancel without notice until August 31.
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When Germany’s largest direct bank ING first asked for account management fees, it should have caused uncertainty. Because it has long stood for being free of charge for all customers – even when banks are having a hard time.
But last May, ING also had to bow to the interest rate pressures of the European Central Bank and began charging fees of EUR 4.50 every four weeks for people who did not deposit at least EUR 700 per month. There were too many customers who simply wanted to park their money for free, it said.
From September 1st fees for services abroad
ING is now going one step further and will start calculating payments for two additional services from September 1st. This is reported by the online portal “Mobiflip”. Above all, it is about abroad: If you want to withdraw money there, you will have to pay for it in the future. The ING had previously reimbursed any fees incurred. In addition, the costs for customers who want to pay with a debit or Visa card increase: 1.99 percent foreign investment money will soon be added to the purchase amount – instead of the previous 1.75 percent.
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The ING also provides for changes in transfers. Only transfers up to an amount of EUR 50,000 may be submitted via transfer form. From this limit, transfers are only permitted digitally. The same applies to transactions in foreign currency.
If you do not want all of this, you can revoke it until 31 August 2020 or cancel it entirely.
Your money is most sustainably invested at these banks – or not
14 pictures Open picture gallery
Your money is most sustainably invested at these banks – or not
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14th place – Sparkasse KölnBonn (9 percent)
According to the organization, Sparkasse KölnBonn operates fairly and sustainably in less than half of the areas. The bank was rated zero percent in eight areas. Sparkasse KölnBonn does best with 50 percent on corruption.
ullstein bild / GettyImages
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14th place – German pharmacists and doctors bank (9 percent)
The Deutsche Apotheker- und Ärztebank only achieved a result of over zero percent in six subject areas. At 46 percent, it also performs best in the area of corruption.
ullstein bild Dtl./Getty Images
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12th place – Stadtsparkasse Düsseldorf (12 percent)
Stadtsparkasse is also the most fair and sustainable in the area of corruption. The institute can achieve a positive result in a total of ten subject areas.
ullstein bild / Getty Images
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11th place – Bayern LB (27 percent)
Bayern LB achieved more than zero percent of the evaluation criteria in all areas. It performs best in the area of labor law.
Although it is not possible to open an account with Bayern LB as a private customer, it is included in the ranking, since DKB with 3.6 million private customers is a 100 percent subsidiary of the bank. As part of “Intragroup Funding”, customer deposits can be forwarded from DKB to Bayern LB, according to the Fair Finance Guide.
Michael Gottschalk/Getty Images
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10th place – DZ Bank (28 percent)
DZ Bank fulfills most of the criteria in the areas of corruption and labor rights. It is the central institute of the Volksbanken and Raiffeisenbanken, which it owns 85 percent. In the Fair Finance Guide, it represents the 915 cooperative banks, which could not all be assessed individually.
Philip Lange / Shutterstock
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9th place – HypoVereinsbank (31 percent)
HypoVereinsbank performs best in the areas of corruption, human rights and labor rights. Otherwise, it can achieve a result of over 20 percent in almost all areas, only with climate protection it scores particularly badly with nine percent.
Michael Dalder / Reuters
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8th place – Deutsche Bank (34 percent)
Deutsche Bank scores the best in corruption at 79 percent. It also achieved a result of 54 and 47 percent for human and labor rights. Climate protection, gender equality, nature and the environment, as well as remuneration and bonuses, achieve less than 20 percent.
Shutterstock
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7th place – Commerzbank (35 percent)
Commerzbank is almost exemplary when it comes to corruption with a result of 83 percent. In the remaining areas, however, it cannot achieve a result of over 50 percent. A spot landing in this sense creates them with labor rights.
Shutterstock
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6th place – LBBW (48 percent)
According to the study, the strongest areas of the Landesbank Baden-Württemberg are corruption, human rights and labor law, in which it can meet over 60 percent of the criteria. In eight other areas, it still reaches over 40 percent.
aldorado/Shutterstock
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5th place – Pax-Bank (79 percent)
Pax-Bank can achieve over 80 percent in eight areas and over 90 percent in two. In the area of human rights, 100 percent of the business is fair and sustainable. However, the institute achieved comparatively poor results in the areas of remuneration and bonuses as well as transparency and accountability with 27 and 16 percent.
Pax-Bank is a cooperative, Catholic universal bank.
Tobias Arhelger / Shutterstock
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4th place – KD-Bank (82 percent)
The KD-Bank performs particularly well in eleven areas. In seven of them, even with over 90 percent, in the area of remuneration and bonuses, 100 percent of the transactions are fair and sustainable. Those who value transparency and accountability or gender equality are not right at KD-Bank. In these areas, it only achieved a result of 54 and 37 percent.
The Bank for Church and Diakonie claims to be a “cooperative bank with Christian roots and values” owned by the Church and Diakonie.
Church and Diakonia bench
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3rd place – Triodos Bank (87 percent)
Triodos Bank can achieve a perfect result in three areas. When it comes to armaments, oil and gas, as well as wages and bonuses, your business is one hundred percent fair and sustainable. When it comes to gender equality, however, it does relatively poorly at 38 percent.
Triodos Bank is a Dutch institution that deliberately wants to use money “to do good in the world”. It currently has over 715,000 members.
Pres Panayotov/Shutterstock
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1st place – GLS Bank (96 percent)
GLS Bank is also not active in the mining sector. In more than half of the thematic areas, one hundred percent of the business is fair and sustainable. The “worst” is gender equality with 83 percent.
According to its own statements, the world’s first eco-bank belongs to the Federal Association of German Volksbanks and Raiffeisenbanks. It finances more than 11,000 companies and projects every year.
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