With criminals employing ever heavier explosives to raid cashpoints, Dutch banks, ATM operator Geldmaat, government authorities and the police are taking new measures to stop them.
With effect from 1 January 2020, ABN AMRO will modify the terms & conditions for revolving credits (Flexibel Krediet) taken out before mid-February 2019. Under the existing terms, clients are free to withdraw, pay back, and withdraw again any number of times up to the credit limit agreed. Under the new terms, clients can withdraw funds for two years at most, after which they must start paying back the loan. These terms already applied for clients who requested a new line of revolving credit after mid-February 2019.
ABN AMRO has temporarily shut down 470 cash dispensers with immediate effect. This emergency measure is needed in view of the growing number of violent ATM explosive attacks. All cash has been removed from the machines.
As from 9 December, clients will no longer be able to request a new line of revolving credit from ABN AMRO. The bank has taken this decision due to declining demand. In addition, an increasing number of clients want to pay back their loans.
ABN AMRO has added SwatchPAY! to its range of wearable products, with six new wearable models now available.
ABN AMRO is discontinuing its Wallet app for Android smartphones, as too few clients use the option to make payments with an Android smartphone.
From today, ABN AMRO will connect to TARGET Instant Payments Settlement (TIPS), a clearing and settlement solution for instant payments offered by the European Central Bank (ECB). This is the third connection that enables ABN AMRO to process even more superfast transfers.
Interest rates on savings in Europe are historically low. One of the reasons for these low rates is that banks in the eurozone park their excess cash with the European Central Bank (ECB) and that the ECB charges a negative interest rate on these deposits (currently -0.5%). The ECB is also keeping market interest rates low, providing banks with inexpensive loans and it has an extensive bond buying programme. Together, these factors have been pushing savings rates (and mortgage rates) down for some time now.
How can we work together with other banks and public organisations to detect financial crime? And how do innovative blockchain applications contribute to safe and secure collaboration? These questions will take centre stage at the challenge organised by ABN AMRO during the trade mission to Singapore between 11 and 15 November.
On 1 November 2019, ABN AMRO will cut interest rates on savings accounts and inform clients about this. Rates on its freely accessible Direct Savings Account (Direct Sparen) will go down to 0.01% from 0.02%.
Research among SMEs reveals that cybercrime is one of the main headaches for entrepreneurs. Although aware of the risks, they lack the expertise, manpower and time to fully address and keep up with the issue.
Business clients who use ABN AMRO’s payment services will be charged new fees as from 1 January 2020. This applies mainly to services involving manual work or printed statements.
ABN AMRO bank today brings its customers Apple Pay, which is transforming payments with an easy, secure and private way to pay. With Apple Pay on iPhone, Apple Watch, iPad and Mac, customers can make fast and convenient purchases in stores, in apps and on websites.
From now on, ABN AMRO clients who also have current accounts with other banks will be able to access these accounts in ABN AMRO’s Mobile Banking app and Internet Banking. This service was already available to clients of Rabobank, SNS and Bunq. By integrating details of the accounts clients hold with several banks, they will have a better picture of their finances. Clients will, of course, be able to decide themselves whether they wish to share this information.
Florius has introduced the possibility for clients to increase their mortgages without needing to submit documents. Florius is the first market player to use source data to realise mortgage increases. This is a big step forward, both for clients and for advisors , in terms of simplifying the mortgage application process.
