May 21, 2022

SHSU Houstonian Online

Read all latest news headlines from USA, UK and around the world, get today's breaking news and live updates on politics, elections, business, sports, economy,​ …

Customers complain: the bank is getting more expensive |  cash

Customers complain: the bank is getting more expensive | cash

This is what the Consumers Association calculated.

The union looked at the price of the cheapest single-card checking account in 2017 and compared it to today’s prices. On average, customers pay 51% more for it. An account in the name of two people, with two cards, now pays an average of 32% more.

Triodos more expensive

Triodos Sustainable Bank customers pay over €60 per year. Online Knab Bank customers pay this as well, but they will get a free credit card and an additional debit card. This price has remained the same for the past five years. In other banks, you have to pay an additional amount for two permits. The rates for overdrafts, receiving paper statements and withdrawing funds outside the EU also vary from bank to bank.

Often clients of major banks ING, Rabobank and ABN Amro are not satisfied with the rate of their bank and the service it provides. According to the Consumers Association, Triodos customers are also grumbling about costs, but overall satisfaction with the bank’s sustainable investment policy remains high.

Cheapest in the EU

Banks say they are incurring more and more costs for checking accounts because of stricter controls on fraud, digitization, and protections for privacy. Although the prices of owning a bank account are rising rapidly, banking in the Netherlands is still relatively cheap if you compare it to other countries, De Telegraaf reported at the end of 2021.