New European regulations regarding payment services

What will change for you?

The Terms and Conditions of ABN AMRO are set to change with effect from 1 November 2009 and this will result in a number of changes being made to our services to you. Our services to you will become even more transparent and even easier to use. Details of the most important changes can be found on this page.

Currency information

In future, bank transfers in currencies of the European Economic Area (EEA)* will be credited to or debited from your account on the same date that the transaction is made. Credits made in cash will be processed on the date the payment is made and will be credited to your account on the same day.

* All of the Member States of the European Union, plus Norway, Iceland and Liechtenstein.

Direct debits and reversal deadlines

In the case of conventional ongoing direct debit mandates, the deadline for reverse posting will be extended from 30 to 56 calendar days (= eight weeks). You will therefore have a longer period of time to reverse a direct debit payment that has already been taken. However, the right to reverse a direct debit will no longer apply in the case of telephone mandates and ongoing telephone mandates for games of chance. You can report an incorrect direct debit to our Advies en Service Center by calling 0900 - 00 24 (€ 0.10 per minute) up to 13 months after it has been debited.

Costs of payment services

Costs for your payment services will be charged on a monthly basis rather than a quarterly basis with effect from 1 January 2010. These costs will be debited from your account halfway through the current month. If you cancel a product, no further costs will be charged with effect from the 1st of the following month. The costs of transactions that have been made will be charged retrospectively, just as they are now.
NB. Annual payments of credit card rates shall remain the same.

Cost of international payments

International payments effected (within the EEA*) in EEA currencies will only be made on the basis of shared costs. This means that the originator and the recipient of the payment will each be responsible for the charges brought by their own bank. If ABN AMRO receives a payment instruction that wrongly includes the instruction 'costs to be borne by us' or 'costs to be borne by the recipient', we shall implement the instruction on the basis of shared costs. All existing periodic standing orders shall be automatically adjusted for you.

* EEA = European Economic Area: all countries within the European Union, plus Norway, Iceland and Liechtenstein.

New and amended terms and conditions (in dutch)

If you are unable to download or print the terms and conditions, you can obtain a copy of these at one of our branches (in dutch).

General Terms and Conditions of AMRO Bank N.V. (pdf, 104 kB)

Explanation of the General Terms and Conditions of Banking (pdf, 57 kB)

Terms and Conditions for Payment Services for Private Customers (pdf, 73 kB)

Information Leaflet for Payment Services for Private Customers (pdf, 87 kB)

Improved provision of information

All rates for payment services are set out in the 'Information Leaflet regarding Payment Services for Private Customers'.
You will be notified of all changes made to rates in the future at least two months before the date of implementation. This may take place in writing or by means of a notice within the internet banking environment.
If a payment transaction cannot be made due to an insufficient account balance, you will be notified of this. This notification will take place in writing or by means of internet banking. The same will also apply in the case of direct debits and standing orders.
Have you changed the limit on your Wereldpas [World Pass]? If so, then in future, you will receive a written confirmation of this from us.
Have you frozen your card, unfrozen your card or requested a new card? If so, then you shall receive written confirmation of this from us.
Are you using your credit card or Wereldpas in order to make a transaction in another currency other than the euro? If so, then the current exchange rate is always cited on your Statement of Account.

Credit cards

From 2010, credit cards can be cancelled with a notice period of one month. At the present time, a notice period of two months applies.
If you have cancelled your credit card, the costs charged prior to this shall be reimbursed on a pro rata basis.