May 16, 2022

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ABN Amro may request money for cash withdrawals |  cash

ABN Amro may request money for cash withdrawals | cash

The bank charges $5 plus 0.5% per transaction for anyone who takes more than $12,000 off the wall. According to the customer, this is an unreasonable and unfair term. And demanded to stop the tariff in Al-Kafid.

Disproportionately

The woman is used to withdrawing $300 in cash every week. She explained that she likes it to keep an overview of her expenses. As a result, you withdraw a total of 15,600 euros annually. As a result of this new measure, she consequently lost an additional 78 euros per year. “A disproportionately high amount of additional costs,” she says.

However, the Dispute Committee of Cavid ruled that the bank had good reason to change the rate. According to the bank, this is necessary due to the high costs of investigating transactions and combating financial crimes. The bank only wants to charge these costs to the group of customers who withdraw cash in excess of 12,000 euros.

The client was also offered that she could terminate the agreement with the bank. For example, a woman could have chosen to open accounts with several banks.

‘expected’

Kifid acknowledges that comments may be made about ABN Amro’s policy. “However, it is up to the legislator to put in place further regulations on this if necessary,” the commission said. Remarkably, given the potential regulations, the committee is asking ABN Amro to “take a wait-and-see stance on further pricing.”

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