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Ending your banking relationship with ABN AMRO

You have received a letter from us stating that you need to cancel your ABN AMRO products. We regret that you can no longer bank with us, and would like to offer further explanation below.

 

When we offer our services abroad, we have to adhere to strict legislation and must also face ever-increasing costs. We have therefore decided to primarily focus on the European market. If you are an ABN AMRO customer and do not live in a country part of the  European Economic Area (EEA) (in Dutch), you will need to cancel your ABN AMRO products. To help you cancel your products, we have put together a summary of the steps involved.

If you only have a payment package with us, you can terminate it quickly and easily online. 

  • Do you have a debit card, and do you use Internet Banking? You can go online and simply close your current account. You will then no longer have access to Internet Banking and the Mobile Banking app.
  • Do you not have access to Internet Banking? In that case, you need to complete the form before printing it and signing it. Please send this form, together with a photocopy of your ID, to the address indicated on the form.

Follow these steps to cancel your products with ABN AMRO

  1. Open an account at another bank

    If you have not already done so, first open an account at another bank and then transfer the funds from your ABN AMRO current account to this new account.

  2. Ensure your income is transferred to your new bank account

    If your income, such as your pension or salary, is paid into your ABN AMRO current account, be sure to notify the Social Insurance Bank or your employer or former employer of the change of bank account number.

  3. Cancel direct debits and standing orders

    • Set your direct debits and standing orders to be debited from your new bank account.
    - Log in and select the account from which the direct debit or standing order is debited. 
    - In your account overview, select 'Future'. All your scheduled direct debits and standing orders will be displayed. 
    - Select the direct debit or standing order you wish to cancel. 
    - Confirm

  4. Cancel your other products

    If you have any of the following ABN AMRO products, please cancel them before proceeding.

     
    Has ABN AMRO provided you with an International Card Services credit card?
    • If so, please cancel it, preferably 2 months before closing your current account, so that there is enough time to settle the outstanding balance.
    • If your credit card is not part of a Basic Payment Package, ICS will have been charging you an annual fee for it and will reimburse you for any overpayment.
    • If you pay for subscriptions or have standing orders set up using your credit card, for example, for the App Store or Google Play Store, you need to change these details yourself.
    If you do not have any of the products listed above, please continue to step 5.

  5. Download your bank statements

    Download your bank statements and Annual Financial Summary in Internet Banking  before closing your bank account to ensure you have a summary of your banking details.

  6. Transfer the funds to your new bank account

    • Transfer the funds in your current account  to your new bank account . 
    • If there are no funds in your ABN AMRO current account, please continue to step 7.

  7. Close your accounts

    • If you have a debit card and use Internet Banking, you can cancel all your accounts at the same time online (in Dutch). This will also end your access to Internet Banking and Mobile Banking.
    • If you do not have Internet Banking access,  please complete this form , print, sign it and send this form, together with a photocopy of your ID, to the address indicated on the form.

  8. Your ABN AMRO Non-life Insurance: wait until you are informed or cancel the insurance yourself

    • Have you taken out one or more non-life insurance policies brokered by ABN AMRO Bank? Because our services will no longer be provided to you, we will also no longer be your broker for non-life insurance. Because our support will no longer be provided for your non-life insurance, the insurer may cancel this insurance. The insurer will decide whether and how your non-life insurance will be cancelled. We will inform you about this within 6 months of receipt of this letter.
    • Would you prefer to cancel the non-life insurance yourself? For insurance policies for which ABN AMRO Verzekeringen is the insurer, you can do this online. To cancel insurance from other insurers, please contact us.
 

You can keep these ABN AMRO products

You don't have to cancel some ABN AMRO products. Read below which products you can keep, and for how long.

Mortgage

You can keep your mortgage to the end of its term. Once the term of your mortgage has expired or you repay your mortgage early, we will say farewell to you. Along with the mortgage, you will also keep any other products you have that are linked to the mortgage or home, such as home insurance. If you make your monthly mortgage payments from your current account at ABN AMRO, you can also keep this account.

Your home insurance

If you have home insurance from ABN AMRO Verzekeringen and you have a mortgage with ABN AMRO Bank for that home, ABN AMRO Bank will continue to be your broker only for this home insurance. So nothing will change for you.

Your life insurance

If you have insurance that provides for payment of a capital sum for example:

  • Invalidity insurance
  • Fixed term or term life insurance
  • Accident insurance (for example, for permanent invalidity)
  • Funeral insurance

You can keep this to the end of its term.

Annuity capital
  • Are you building annuity capital (in the Capital Group Policy for instance)?
  • Or do you receive an annuity payment (from the Annuity Guarantee Policy, for instance)?

You can keep these products until the end of their term.

Your 'Pensioenaanvulling' product

Do you have one or more

  • If the total balance (the savings and the value of the investments) in the above accounts is less than EUR 4.547 (2021), it may be worth considering commuting your pension supplement. We are required to withhold income tax and national insurance contributions from that amount and pay this to the Tax and Customs Administration, unless you have an individual decision from the tax authorities of course, on the basis of which we do not need to withhold income tax and national insurance contributions. You do not need to pay any penalty (revisionary interest) to the Tax and Customs Administration. No protective tax assessment will be imposed in that case either. The amount you receive is also relevant for the tax legislation in your country of residence.
  • If the balance of the account(s) is more than EUR 4.547, the supplement can be commuted, but you will always owe a penalty (revisionary interest) to the Tax and Customs Administration in that case. This penalty could be as much as 20% of your balance. You will also owe income tax and national insurance contributions in the Netherlands and there could be consequences for your tax position in your country of residence as well.
  • Entitled to state pension? If you have reached state retirement age, you must convert your ‘Pensioenaanvulling’ into an annuity payment as soon as possible. We have products available for this. You could take out a Life Annuity (2008 - 2013) online and have the value of your 'Pensioenaanvulling' transferred to a Life Annuity in your name. The term of this must be the shortest tax term from 5 years onwards.

What happens if you do nothing? If you have one or more 'Pensioenaanvulling' products, you can hold onto them in order to buy a payment in due time. If you are entitled to state pension and you have a pension supplement, you must buy a payment. If you do not do so, we will commute your pension supplement within 5 years from the time you reach state pension age. You will pay a penalty (revisionary interest) of maximum 20% to the Tax and Customs Administration at that point.

Your 'Gouden Handdruk Opbouw' account

Do you have one or more of the following  It might be worth considering terminating your ‘Gouden Handdruk Opbouw’ account(s). The balance in your account is a gross amount from which we are required to withhold income tax and national insurance contributions. You do not need to pay any penalty to the Tax and Customs Administration. The amount you receive is relevant for the tax legislation in your country of residence. We do not charge any costs for commuting. 

What happens if you do nothing? If you have one or more 'Gouden Handdruk Opbouw' accounts, you can simply hold onto these and withdraw from them in due time, no later than upon reaching state pension age. It is not possible to take out a Life Account (our bank savings product that makes payments) in your situation. If you have reached state pension age but have not taken action, we will sell any investment products. The proceeds and/or savings amount and any accrued interest will be transferred to the current account we have on file for you. We will withhold the usual income tax and national insurance contributions in the process.

Your 'Gouden Handdruk Leefrekening' account

Do you have a 'Gouden Handdruk Leefrekening' account? It might be worth considering commuting your 'Gouden Handdruk Leefrekening' account. You will receive a gross payment. If you terminate ‘Gouden Handdruk Leefrekening’ account, you do not need to pay any penalty to the Tax and Customs Administration. The amount you receive is relevant for the tax legislation in your country of residence. We do not charge any costs for commuting. Find more information about commuting. 

What happens if you do nothing? If you have a 'Gouden Handdruk Leefrekening' account, you can simply hold onto this until the end of the term.

Your 'Leefrente'

Do you have a 'Leefrente' or 'Leefrente' 2008-2013? You can continue the gross payment you periodically receive until the end of the term agreed upon. Note: If you would nonetheless prefer to commute you 'Leefrente', you can do so, but there are always financial disadvantages to this. You will always owe a penalty (revisionary interest) to the Tax and Customs Administration in that case. This penalty could be as much as 20% of your balance.

What happens if I move abroad?
This page explains what you can arrange for yourself. You can also contact us by telephone on +31 (0)20 3434002 This line is open Monday to Friday, from 9 a.m. to 5 p.m. (time in the Netherlands). You must inform us of your new official address as soon as possible. You can do this online in just a few simple steps.
I am an expat. What do I do now?

You can keep your existing products for up to three years. An expat is a client who moves abroad for work for a limited period (up to three years) and returns to the Netherlands at the end of that period.

I regularly visit the Netherlands. What can I do now in terms of paying for things when I’m in the Netherlands?
You can make payments in the Netherlands using your new bank account.
My plan is to return to the Netherlands. What do I do now?
Once you are officially resident in the Netherlands again, you can apply to open a new account by going to abnamro.nl/openaccount
I have received a letter informing me that I am not allowed to keep the account I hold abroad. What does this mean?
Once you receive this letter, you have six months in which to transfer your banking affairs to another bank. We must terminate our relationship with you at the end of that period. You therefore need to arrange your banking affairs with another bank, transfer your balance to your account at another bank, close your accounts with us and terminate your products from ABN AMRO.
 
Does my new account need to be in the Netherlands?

No. It is up to you to decide where you will open your new account. You may also decide to transfer your balance to an account you already hold at another bank.
 
Can you recommend another bank?

No, we cannot provide any recommendations as every bank follows its own policy when it comes to accepting clients who live abroad. Opening a new account is your responsibility.
 
How can I pay premium instalments or repay my loan if I no longer have an ABN AMRO current account?

You can use your new current account at your new bank to pay instalments or repay your loan.

Assistance

 

Submit your question

Please email any questions you may have to bankzaken-afhandelen@nl.abnamro.com

Contact by telephone

Please do call us: +31 (0)20 3434002. Open: Monday to Friday from 8 am to 5 pm (CET)