ING has decided to change the conditions of its accounts. The orange bank has sent a statement to its customers in which it informs them that as of July 25 the direct debits it made from the accounts of other banks that were referenced will have to be made by means of a transfer from one entity to another, In other words, this operation will have a cost for the client whose issuing entity charges commissions for this type of operation.
The entity, however, clarifies that the income in the Payroll account, in the account without payroll or business account can continue to be made in the network of ATMs that the entity has distributed, that is, mainly in cash.
This change is in addition to the one made on November 1, in which the entity decided to cut the remuneration of its Orange Account from 0.1% APR to the current 0.05% APR due to the low interest rate environment that keeps in Europe.
The Dutch entity then explained that the situation of interest rates at historical lows in which the euro zone has been since March 2016.
This circumstance forced the entity to modify the conditions of this remunerated savings account on previous occasions. Currently, the remuneration of the Orange Account stands at 0.1% APR since the beginning of this year, compared to 0.2% previously. Previously, at the beginning of last year, the entity applied a reduction in the remuneration of this product from 0.5% to 0.2% APR.
In addition, they could hire customers who opened an Orange Account and offered a remuneration of 1% APR for two months exclusively for new bank customers for the same reason.
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