From 1 July 2022, we will start passing on a limited part of our customer due diligence costs to clients who have a business current account. Read on to find out more about the changes and our reasons behind this.
ABN AMRO is committed to preventing financial and economic crime such as fraud, money laundering and the financing of terrorism. This is an important social duty of ours, and we are also required to do so by law. As a bank, we can and want to do our bit for a safer society.
In this respect, we fulfil a 'gatekeeper role', meaning that we actively monitor for potentially suspicious financial transactions. We do this by verifying transactions and our clients’ identity.
We have largely covered the costs involved in these verifications and checks ourselves, and we will continue to do so. However, these verifications and checks are costing us more and more time and money. For this reason, as of 1 July 2022 we will be passing on a limited part of the costs to our clients who have a business current account. We will also be updating the associated terms and conditions.
If you have one or multiple business accounts with us, we will start charging you a monthly customer due diligence fee per entity from 1 July 2022. If you have one private limited-liability company (a 'BV' under Dutch law), you will be charged the corresponding fee once per month. If you have 4 private limited-liability companies, you will be charged the fee 4 times.
The table below shows the fees for each business form.
The extent of our customer due diligence depends on the business form. On average, more complex business forms require more extensive customer due diligence. This is why we charge different fees.
| Business form | Monthly fee (excl. 21% VAT) |
|---|---|
| Sole proprietorship ('Eenmanszaak') | € 0 |
| General partnership ('Vennootschap onder firma') | € 0 |
| Partnership | € 0 |
| Association and foundation | € 3 |
| Private limited-liability company ('Besloten vennootschap') | € 6,50 |
| Cooperative | € 6,50 |
| Religious community | € 6,50 |
| Limited partnership ('Commanditaire vennootschap') | € 6,50 |
| Non-Dutch business form | € 20 |
| Public limited company ('Naamloze vennootschap') | € 20 |
| Other business forms | € 6,50 |
The first fee will be debited from your account in August, covering the costs for July and appearing under the heading of 'Tarief kosten klantonderzoek' (Customer due diligence fee) on your account statement.
