Account fees at Dutch banks have risen more than 20 percent in the past two years, as reported by the financial research agency MoneyView.
Between 2022 and 2024, bank account fees have increased by over 20 percent. At the same time, the cost of a second bank card has more than doubled and those with accounts for their business pay 11 percent more.
Many banks have received criticism from the Dutch Consumers’ Association (Consumentenbond) about high bank fees, especially after ABN Amro and ING increased their rates. The Consumentenbond reported that these banks have more than doubled their bank fees in five years.
Several years of low interest rates have been used as one reason for banks in the Netherlands to increase their account fees. Others include the high costs of innovation and putting measures in place to prevent money laundering.
According to MoneyView, these motivations are less valid than what they used to be. Banks have raised their interest rates significantly in the past two years and “the Dutch Banking Association has now developed new standards for more targeted investigation in the context of detecting money laundering and terrorist financing,” said MoneyView.
Despite criticism about the higher account fees, especially at large Dutch banks such as ABN Amro and ING, the rise in rates has not slowed.
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