You can turn on the Savings Lock on the ABN AMRO app and on Internet Banking for the following savings accounts:
Only you can do that, on the ABN AMRO app and on Internet Banking. If you have a joint savings account, both account holders can turn on and turn off the Savings Lock on that account. You will get a message confirming that the Savings Lock on your savings account has been turned on or turned off. If in fact neither you nor your joint account holder did this, please contact us right away.
No, you cannot reduce the waiting period. We cannot change the waiting period for you either. The 24-hour waiting period is intended to make things more difficult for scammers. They often want you to transfer money quickly to what they call ‘safe accounts’. A 24-hour waiting period helps ensure that you don’t fall for these clever tricks that scammers play. It also gives you time to contact us if you are unsure about a transfer.
No, you cannot set the waiting time yourself. We cannot do that for you either. If you would like to be able to withdraw part of your savings right away, at any time, you can open an additional Direct Savings account free of charge. You can transfer the amount you want to be able to withdraw at any time to this savings account, and then turn on the Savings Lock on the savings account that contains the lion’s share of your savings.
If you’ve inadvertently turned on the Savings Lock on the wrong savings account, you can turn it off again on this account on the ABN AMRO app and Internet Banking. You’ll be able to transfer money from the savings account again 24 hours later.
Here’s how to turn off the Savings Lock on the ABN AMRO app:
Here’s how to turn off the Savings Lock on Internet Banking:
We can imagine that it is handy to always have some money on hand. You can open an additional Direct Savings account free of charge and turn on the Savings Lock on the savings account with the balance you do not need right away.
Let’s say you have a savings account that has €8,000 in it, and that you want to be able to withdraw €1,000 from it right away, at any time. In that case, you can open an additional Direct Savings account, deposit €1,000 and leave the remaining €7,000 in your existing savings account. You can turn on the Savings Lock on this account. That way, you ensure that most of your savings are extra protected.
Yes, you can. If you have several savings accounts, you can turn the Savings Lock on and off on the following accounts:
Yes, you can. When the Savings Lock is on, you can transfer money to your savings account as usual. However, you will not be able to transfer money from your savings account.
No. Once the Savings Lock has been turned on, you can no longer access your savings. This also means that you can no longer use this savings account to make investments.
The ABN AMRO app and Internet Banking show you on what date and at what time you can transfer money from your savings account again.
ABN AMRO app
You will also receive a Bankmail message as soon you can once again transfer money from the savings account for which you have turned off the Savings Lock.
Internet Banking
You will also receive a Bankmail message as soon you can once again transfer money from the savings account for which you have turned off the Savings Lock.
Once you have turned on the Savings Lock, transfers from this savings account will no longer be possible. This means that the ‘Supplement automatically’ smart payment rule and any standing orders will no longer be executed. The ‘Smart savings’ and ‘Save as you spend’ rules will still be executed, as they involve money being transferred to your savings account. Please note that you can only set these smart payment rules when the Savings Lock is off.
Yes, you can turn the Savings Lock back on at any time, including less than 24 hours after you have turned off the Savings Lock, i.e. during the waiting period. The Savings Lock will then be active again right away.
You can only close your savings account if the balance is €0, so make sure you turn off the Savings Lock in good time. It will take 24 hours before you can transfer money from your savings account to your current account. Once you have done that, you can easily close your savings account online.
