ABN Amro to hike business fees for 'manual' payments processing

Monday, October 29, 2018


ABN Amro is to raise fees for business customers who use payment services that require manual intervention, as part of a move to switch more clients to digital banking channels.

The Dutch bank says fees for a total of around 10% of the bank’s payment services will be adjusted to more accurately reflect the costs of manual processing. This will affect various businesses, says the bank, but chiefly trade finance companies.

While a "small number" of online services are also set to rise - "either because they have not been adjusted for several years or because development costs, part of which are included in the fee, have gone up" - others will be reduced concomitantly.

In a statement, the bank says: "ABN Amro wants to encourage the use of online services and will, for example, increase the fee for depositing cash with a sealbag. The fee for depositing cash in an ATM, however, will be reduced because the cash is counted by the machine."

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