The changes to the most important payment packages of the four banks at a glance:
- Rabobank DirectPackage 3.20 euros per month (8.5 percent more expensive)
- Rabobank Basic Package 4.95 euros per month (11.2 percent more expensive)
- SNS Basic 3.45 euros per month (17 percent more expensive)
- RegioBank 3.55 euros per month (16.4 percent more expensive)
- ASN Bank 3.20 euros per month (18.5 percent more expensive)
“At a time when many everyday things are becoming more expensive, we understand that this is not nice news,” Rabobank reports in a message about the rate increase to its customers. The bank spends a lot of money on detecting fraud, in its (mandatory) role as gatekeeper of the financial system. And to finance all that, rates have to increase, according to the bank.
Fines due to insufficient supervision
Banks must keep a close eye on ensuring that customers do not launder money or use it to finance terrorist activities, for example. In the past, banks failed to do this, resulting in heavy fines.
SNS Bank, part of de Volksbank which also includes ASN and RegioBank, uses the same story for the increase. Preventing fraud and financial crime ‘has become increasingly expensive in recent years’, SNS reports as one of the reasons for the change.
Online services
Another reason that the banks – both Rabo and de Volksbank brands – give for the cost increases: improving online services, for example via apps and services such as Apple and Google Pay.
Customers of SNS and ASN also received a rate increase as of November 1 of last year.
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