ING, which until now had based its banking model in Spain on not applying commissions and paying deposits, has sent a communication to its clients reminding them of the upcoming changes in the Orange Account and other savings accounts that will apply from this 1st of April 2021, due to the low interest rate environment.
From this Thursday, the entity will apply a balance custody commission of 10 euros per month, exempting customers who maintain an average monthly balance of less than 30,000 euros in the future or who have a Payroll Account (or Non-Payroll Account) with recurring income.
The new conditions will affect the Orange Account, Mini Orange Account, Orange Home Account, Orange Home Account, Zero Tax Account, Fiscal Savings Account and Savings Account.
Regarding remuneration, it will become an exclusive advantage for customers who have monthly income in their Payroll or Non-Payroll Account, either through their payroll, pension or unemployment benefit, or through income from another bank. at least 700 euros per month.
These changes come into force this Thursday, April 1, and the first collection of the commission will take place within the first ten days of May, taking as a reference the average balance maintained in April in each account.
ING has informed its customers that if they do not agree with the changes, they can close their accounts in one click and at no cost on the bank’s website or app before April 1. If not, the entity will understand that the client knows and accepts the new conditions.
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