Home » News » ING buries free checking account

ING buries free checking account

ING announced its business figures today. This could definitely be seen. Nevertheless, the bank is under pressure and is therefore fundamentally screwing on the free account.

The current account will remain the core product of ING Germany in the future. However, it will be in the future no longer free of charge without conditions to be available. Accordingly, the ING current account will cost from May of this year 4.90 euros per month, At the beginning of June, an automatic check is made for the first time to determine whether at least EUR 700 was received in the account in May.

ING introduces minimum cash receipt

These new fees can be avoided by receiving a cash payment from at least 700 euros per month entered into the account. The amount is somewhat reminiscent of the DKB, which allows its customers to become “active customers” with more benefits from a monthly payment of 700 euros.

Incidentally, it does not have to be a salary receipt, because pensions, pensions or other incomes also count as ING receipts. Customers under the age of 28 and customers with a basic account are also exempt from ING’s new account fee.

Anyone who has an income that fluctuates above and below 700 euros sometimes pays the fees and sometimes not. If less than 700 euros are received in the account in a month, ING will charge 4.90 euros in the following month. And if it’s more again, the customer won’t pay anything next month.

A press release says about this step:

Our goal is to enter into an active customer relationship with all current account customers. With the new model, we create an incentive for inactive customers to get to know us as a fully digital house bank. This year we want to work even more closely with our customers and increasingly become the first point of contact for all financial questions.

– Nick Jue, CEO of ING Germany

ING assumes that the current account will remain free of charge for three quarters of the customers with the new regulation. With currently around 2.8 million customers in Germany, this also means the price increase affects around 700,000 customers in Germany.

In the meantime, a special page for the changeover is online. There it says:

Why is there an account management fee at all?

The answer is simple, but you don’t think about it at first: because account management costs money. For example, for the technology provided, for the cards, for the telephone service and for services that we buy for our customers from other companies. In the past, we have not passed these costs on to our customers. Because if you had an account with us, you often did other banking business with us – and so the whole thing paid off for both of us.

In recent years, however, the market has changed a lot, particularly with regard to interest rate policy. That is why we will share customers who do not have us as their house bank in the future. Anyone who actively uses their checking account as a salary account will continue to pay no account management fee.

ING: Manage Apple Pay in the app

Apple Pay Ing

Apple Pay has been available at ING since October 2019. Today there is a small addition to the topic, because the ING app has recently received an update for Apple Pay. In addition to bug fixes and small improvements, the app update brings …January 30, 2020 READ NOW →

divide

->

Leave your opinion

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.