Many account holders in Germany are currently worried about the penalty interest that many financial institutions are currently introducing or already have. It’s no different at ING. But now customers have reason to be happy: your bank is taking the pressure off.
ING: No more pressure on custody fees
ING takes a step towards its customers. The penalty interest, which is unloved by account holders, is still to come, but the bank’s current decision is likely for some customers it is nevertheless a significant relief be: You can continue to consent to the collection of custody fees.
ING had previously announced that existing customers would have to agree to the new terms and conditions by the end of February and thus also to the introduction of negative interest of 0.5 percent over an amount of 50,000 euros. the Termination of business relationships as the final step is reserved, however, for customers who do not accept the new terms and conditions.
But ING is no longer issuing an ultimatum: “Currently, customers who have not yet given their consent can continue to do so digitally. The customers who we have contacted by post and who have not yet agreed can also do so,” the bank announced on Tuesday (source: dpa via t-online). Referring to a possible end date for customer accounts whose holders refuse consent, a spokesman said: “We will depend on how approval rates develop.”
Can ING customers simply sit out the penalty interest?
So far we are quite satisfied with the development the vast majority of customers would have already agreed to the custody fees. ING boss Nick Jue recently announced that the penalty interest rates would not be maintained if the European Central Bank raised the key interest rate again. In the meantime, however, the costs for the giro card have been taken seriously.
With these techniques you are well protected in online banking:
For customers who are willing to take risks, this means: You could take chances. jue most recently expected an end to penalty interest in about a year. In view of the current political situation in Europe, however, such predictions should be treated with even more caution than usual. One thing is certain: ING does not want to lose any customers and will not terminate anyone overnight without warning.