Current account: the bank now closes it for you. Here is who trembles

Current account: the bank now closes it for you. Here is who trembles
Current account: the bank now closes it for you. Here is who trembles

On several occasions recently on these pages we have announced a torrid summer for the customers of some banks in Italy and the news that continues to arrive only corroborates this forecast.

Current account: it will be a hot summer. Upcoming prices and more

It seems that a real war has really broken out against the current account, which has already ended up in the crosshairs of some credit institutions that have announced significant increases in management fees.

This is the case, for example, of Unicredit e Widiba, online bank of the Monte Paschi group, which starting respectively from 1 and 15 July will apply new economic conditions to some of their current accounts, decidedly worse than the previous ones.

Current account: ING will close it shortly. Here’s to which customers

The news of the last few hours, on the other hand, concerns a foreign banking group, which has also been operating in Italy for years.
We are talking about ING that in recent weeks has already made a lot of talk about itself due to a series of innovations that will start right from 1 July, such as the closure of ATMs and more.

The cost-cutting policy carried out by the Dutch group does not stop there and so the current accounts are now in the crosshairs.

As anticipated this morning by MF-Milano Finanza, ING after the branches would be ready to close the accounts too, but only a few.

The Dutch group, according to what is learned from the financial newspaper, has recently sent some of its customers a registered letter, with which it has signaled the closure of the current account in their name in the future.

As explained by Milano Finanza, the bank is not required by law to promptly notify the customer of the reasons for this decision.

However, according to when reported by some sources, it is learned that ING’s move would concern those customers “guilty of a failure or prolonged use of the account or perhaps linked to a balance constantly at zero”.

In other words, whoever has a substantially inactive current account, or due to lack of funds or non-use of the same, has already received or will soon receive from ING the registered letter announcing the termination of the relationship.

Current account: what happens to the ING customers who received the letter?

The move by the Dutch bank comes suddenly and certainly took those who were reached by the notice letter by surprise.

The customers in question will now have 60 days to move from ING to another bank and to retrieve the receipts of all payments made so far with the current account of the Dutch bank, before the closing of the same.

ING’s decision, although it came as a surprise, is part of a broader context that sees a real revolution in the world of banks.

Current account: the precedent of FinecoBank

Recall that as early as last March FinecoBank had announced the closure from 18 May of this year, of those current accounts with an average liquidity in excess of 100,000 euros, in the presence of certain conditions.

ING’s announcement, which also affects a clientele opposite to that identified by FinecoBank, always responds to the need for a cost cut for the bank, in a landscape that has undergone major changes starting from 2020, thanks to the outbreak of pandemic.

Current account, ATMs, branches: all the news from ING from July

As mentioned before, the closing of the current account announced by ING for certain customers is only the latest move in order of arrival.

In fact, the Dutch group has already made it known that from 1 July it will close all its ATMs in Italy, so its customers will have to turn to other banks for withdrawals, in some cases having to pay a commission for them.

Also from July ING will close the automatic tellers and some of its branches, reviewing some of its services including the payment of checks which can now only be sent by post.

Trend-online Deputy Director, born in 1978.
After completing his studies at the Classical High School “Antonio Calamo” of Ostuni I entered the world of economics.
For about twenty years I have been dealing with Stock Exchange and Finance. After having worked as a financial promoter for several years, in 2005 I joined the Trend-online team as an editor, to later become deputy director of the cylinder head. Among other countless activities, I take care of maintaining relationships with all the experts, analysts and traders, consulted daily by Trend-online.

My motto is? “Life is like a mirror, if you look at it smiling it will smile at you”.

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