ABN Amro is lowering the interest rate on its savings accounts to 0 percent as of April 1st. Customers with more than 2.5 million euros in their saving accounts will face negative interest. The bank is the first of the large banks in the Netherlands to take this step, NU.nl reports.
The price increases on the housing market in the Netherlands will level off this year, but prices will still rise, according to analysts at ABN Amro. They predict that home prices will increase by 4 percent in 2020, compared to last year's 7 percent increase, NU.nl reports.
An ABN Amro ATM on Zijdelwaardplein in Uithoorn was blown open with an explosive early on Tuesday morning. Two suspects were seen fleeing the scene on a dark colored scooter, the Amsterdam police said on Twitter. Whether they managed to steal any cash, is not yet clear.
The ATM bombing happened at around 3:50 a.m. The police cordoned off the area and called in explosive experts from both the police and the Ministry of Defense to investigate whether any explosives were left behind.
With ABN Amro closing a large number of their ATM's due to ATM bombings, thieves will very likely start targeting ATMs from other banks. "Experience shows that criminals will almost certainly do that", Jos van der Stap, national coordinator for robbery at the police, said to NU.nl.
Four banks teamed up with the Dutch government and authorities to fight against financial service providers who launder money for criminals, Financieele Dagblad reported on Friday based on information from an anonymous source.
According to FD, ABN Amro, ING, Rabobank and Volksbank signed a covenant with the National Police, the FIOD, the Public Prosecution Service, and financial intelligence unit FIU. This "serious crime task force" will focus on upper world lackeys who facilitate undermining crime.
ABN Amro decided to shut down a few dozen of its ATMs after a series of bombings. The bank knows that this may be annoying for some customers whose regular ATM will suddenly be unavailable, but the measure is taken with the safety of customers in mind, a spokesperson for ABN Amro said to NOS.
When merging with Fortis in 2010, ABN Amro failed to screen the over 5 million Fortis customers individually, according to NRC. All 5 million of them were automatically labeled as "reliable" - the lowest risk category - meaning that ABN Amro considers them relatively harmless and unlikely to commit financial crimes, according to the newspaper.
ABN Amro will not implement negative interest on savings accounts with less than 100 thousand euros in them, the bank promised. The bank's interest rate on savings currently stands at 0.01 percent. It can, theoretically, still drop for zero. But most customers will not have to pay to keep their savings at ABN Amro, NOS reports.
Banks in the Netherlands have joined the fight against problematic debts. From now on banks will refer customers who are regularly in the red to website Geldfit, where they can get help with managing their money problems. The same applies to customers who use up their savings quickly or miss payments on a bank loan, NOS reports.
The police suspect a Dutch-Bosnian drug cartel of large-scale money laundering, part of which happened through ING and ABN Amro bank accounts, newspaper AD reports based on police documents in its possession.
ABN Amro is lowering the interest on its freely withdrawable savings accounts from 0.02 percent to 0.01 percent as of November 1st, the bank said on its website on Friday. Savings interest at ING is still 0.02 percent and at Rabobank 0.03 percent, NU.nl reports
The falling mortgage rate broke a new record on Monday. For the first time in Netherlands history, the interest for the longest fixed-interest mortgage period of 30 years dropped to 2 percent, AD reports based on figures from Actuelerentestanden.nl.
The mortgage provider that broke this record first was Reaal with its annuity mortgage called Lekker Wonen. The interest rate only applies to homes that are eligible for a National Mortgage Guarantee - homes with a value up to 290 thousand euros.
The Public Prosecutor launched a criminal investigation into ABN Amro for money laundering and terrorism financing. The bank is suspected of reporting suspicious transactions late or not at all, and not screening its clients properly, NOS reports.
A spokesperson for ABN Amro confirmed to NOS that the bank was informed of the investigation on Wednesday. Other than that ABN Amro is fully cooperating in the investigation, the bank would say nothing further.
Five Dutch banks want to team up and establish an organization to tackle money laundering together. The idea is that by viewing the banks' total 10 billion transactions per year together, it will be easier for the organization - which they plan to call Transactie Monitoring Nederland (TMNL) - to identify suspicious activities, the Dutch association of banks NVB said to RTL Nieuws.
The annual staff turnover in the Dutch hotel and catering industry is 40 percent. This costs the sector 1.4 billion euros per year, or around 6 percent of its total turnover, ABN Amro said in a report on Tuesday. Better working conditions can reduce this, according to the bank, NU.nl reports.
Instant bank transfers is now available to customers of seven Dutch banks. With the introduction of Instant Payments, customers can transfer money at night, over the weekend and on public holidays and it will immediately show in the recipient's account, instead of the recipient having to wait for the next business day, the Dutch Payments Association said to AD.
ABN Amro and Rabobank clients will soon be able to use Apple Pay. Bunq also announced support for the payment function, effective immediately.
Rabobank put a page online saying that the Apple Pay function will "soon" be available. "We are now working hard to make it available to our customers", the bank said. "As soon as Apple Pay is available, we will tell you on our website and in Rabo Online Banking how to install and use Apple Pay.
An explosive was used to blow open an ABN Amro ATM on Doctor Ringersstraat in Waalwijk early on Friday morning. The blast caused major damage to the building the ATM was attached to, blowing a massive hole in its facade. Whether the perpetrators got away with any money, is not yet clear.
The ATM bombing happened around 3:30 a.m. Witnesses saw two men in dark clothing leaving the scene on a scooter. Some witnesses also reported seeing a white delivery van driving towards Midden Brabantweg, according to Omroep Brabant.
It is "very likely" that fraudsters will target ABN Amro customers in the coming period, after the bank announced that it has to re-check all its existing clients in the fight against money laundering and other financial crimes, according to the Dutch Payments Association.
Dutch central bank DNB ordered ABN Amro to review all its existing retail clients in the fight against financial crimes like money laundering, CEO Kees van Dijkhuizen revealed in a statement released with the bank's second quarter report. ABN Amro made 114 million euros available for this review of existing clients, the CEO said.
Consumers can expect to pay more at hotels, restaurants, bars, and campsites next year, according to economists at ABN Amro. The Labor Market In Balance Act, which will be implemented in January, will increase labor costs, which turn will increase prices, NOS reports.
Hotels in Amsterdam had a strong start this year. In the first four months of 2019 there were 12.5 percent more overnight hotel stays in the Dutch capital than in the same period last year, De Telegraaf reports based on figures from ABN Amro's economic bureau.
The originally American beer brand Budweiser is taking on the Netherlands. Starting Monday, the beer will be available in Dutch pubs and restaurants - mainly in the Randstad region, but also elsewhere in the country. From September, Dutch will also be able to buy Budweiser in supermarkets, RTL Nieuws reports.
Companies increasingly say that they attach great importance to more diversity in high positions, yet cultural diversity among executives is still an exception and not the rule at Dutch companies, according to the 2018 Monitor by Talent to the Top. While companies say they want to increase diversity among their execs, few are willing to actually set goals and implement measures to achieve this, NOS reports.