What is the right of withdrawal?

If you, as a consumer client, have taken out a financial product remotely, for example online, via the app or by telephone, you’re often entitled to cancel it without giving any reason. You usually have 14 days to do so. The withdrawal period begins at the moment you’ve definitively taken out the product, for example after signing the offer or opening the product. You may then withdraw from the contract.

When does the right of withdrawal apply?

The right of withdrawal applies if you take out a product remotely as a consumer client, for example online, by telephone or via the app.

When does the right of withdrawal apply?

The right of withdrawal applies if you take out a product remotely as a consumer client, for example online, by telephone or via the app.

Does it matter how I took out the product?

Yes. It can make a difference whether you took out the product online, by telephone, via Video Banking or with the help of an adviser. This is explained for each product.

Does it matter how I took out the product?

Yes. It can make a difference whether you took out the product online, by telephone, via Video Banking or with the help of an adviser. This is explained for each product.

How do I exercise my right of withdrawal for a specific product?

Read on for specific information on how to exercise your right of withdrawal for a particular product.

How do I exercise my right of withdrawal for the Home Equity Mortgage?

In the Home Equity Mortgage section above, you can read how to exercise your right of withdrawal for this product after signing the mortgage offer.

Can I close the account if I’ve already used it?

Yes, you can. If you’ve already made payments or used the account within 14 days, ABN AMRO may charge a proportionate fee for the services already provided. ABN AMRO may charge an additional fee for termination, charging only for actual usage.

Will I receive confirmation of my withdrawal?

Yes. Once we’ve received and processed your withdrawal request, you’ll receive confirmation of this.

What happens if I exercise my right of withdrawal?

If you exercise your right of withdrawal, the agreement will be terminated.

Will I get my money back?

If you already paid something, we’ll make sure this is refunded in accordance with the terms and conditions for the product.

How long does it take to process if I exercise my right of withdrawal?

We’ll process your withdrawal request as soon as possible. Exactly how long this takes varies from product to product.

What if the 14-day period has expired?

Once the 14-day period has expired, you will usually no longer be able to exercise your right of withdrawal. In that case, the product's standard terms and conditions apply.

What will happen to my balance and direct debits?

Balance: Any balance in the account will be refunded to the account number you’ve provided (counter account). Payments: Direct debits, recurring credit transfers and standing orders that had already been set up will be cancelled.

When can the account not be closed immediately?

The account cannot be closed immediately if: You’re overdrawn; in this case, you should first transfer money to the current account until the balance is zero. There is an outstanding reservation; we’ll explain this below.

What happens if a reservation is still outstanding and you want to close the current account?

If you wish to close your current account, you can only do so if there are no outstanding reservations. A reservation will automatically lapse when we debit the final amount from your account, or when the payment obligation you agreed with the seller expires without the seller extending the payment obligation, or when the seller waives the payment obligation.

What happens to any interest I am still due to receive or have to pay if the bank account is closed?

If you’re still due to receive or are required to pay any interest or fees on the money that was in your bank account up until the closure, we’ll credit or debit that interest or fee to or from another current or savings account held with us in your name. If you no longer hold any other current or savings accounts with us, we’ll ask you to provide details of a current account with another bank to which we can transfer the interest. Until then, we'll keep the money in a separate account that you cannot access. We’ll credit or debit interest in the following month or, at the latest, in the first month of the quarter following the closure of the bank account.

Why am I sometimes redirected to another provider?

Some products are offered by third parties. If so, this party will handle your withdrawal request. You may, therefore, be redirected, as ABN AMRO cannot terminate or cancel these products directly itself.

Can I also cancel by telephone?

Yes, that is another possibility. In that case, we’ll ask you a few additional questions to verify that you’re the account holder or are authorised to exercise your right of withdrawal.

When does the right of withdrawal not apply?

You cannot exercise your right of withdrawal for short-term travel and cancellation insurance policies with a term of less than one month.

What if ABN AMRO fails to inform me of my right of withdrawal?

If we fail to comply with the obligation to provide information regarding your right of withdrawal, the withdrawal period may be extended by up to 12 months.

Where can I take my questions?

If you have any questions, or you’re unsure whether you have a right of withdrawal, please get in touch with us. We’re always happy to help.

Right of withdrawal

In many cases, you can exercise your right of withdrawal after taking out one of our financial products.

If you, as a consumer client, have taken out a financial product with a distance contract, for example online, via the app or by telephone, you’re often entitled to cancel it without giving any reason. You usually have 14 days to do so. You may then withdraw from the contract.

When can you withdraw?
You cannot withdraw from all products. It depends on the product and how you took it out.

Right of withdrawal by product

Payments

Personal Banking
For personal current accounts applied for online, your right of withdrawal applies for 14 calendar days after the contract has been concluded. You can exercise your right of withdrawal in your secure environment in the ABN AMRO app or on Internet Banking by closing the account using the 'Self service’ option.

If you’re having trouble doing this in the app or on Internet Banking, please contact us on 0900 - 00 24 (usual call charges apply).

If you're calling from abroad, please dial +31 10 241 17 20
You can reach us on:
Monday to Friday: 9 am – 5 pm
Saturdays, Sundays and public holidays: closed

Wealth Management
For personal current accounts applied for online, your right of withdrawal applies for 14 calendar days after the account has been opened. You can exercise your right of withdrawal in your secure environment in the ABN AMRO app or on Internet Banking by closing the account using the 'Self service’ option.

If you’re having trouble doing this in the app or on Internet Banking, please call Private Assistance on +31 (0)20 343 43 43.
Available:
Monday to Friday: 8 am – 9 pm
Saturday: 9 am to 5.30 pm
Sundays and public holidays: closed

Savings

For savings accounts opened online, your right of withdrawal applies for 14 calendar days after the account has been opened.

The right of withdrawal applies to the following savings accounts:

Direct Savings
Savings Deposit
Groen Spaar Deposito
KidsFuture Savings Account
Schenken met Beheer Spaarrekening
Term Deposit
Private Banking Spaarrekening
Wealth Management Spaarrekening

The right of withdrawal applies only to consumer clients, and not to business clients. If you exercise your right of withdrawal, you won’t receive any interest.

Would you like to exercise your right of withdrawal online?
You can exercise your right of withdrawal in your secure environment in the ABN AMRO app or on Internet Banking by closing the account using the 'Self service’ option.

This option is available for:

Direct Savings
KidsFuture Savings Account
Private Banking Spaarrekening
Wealth Management Spaarrekening

If you’re having trouble doing this in the app or on Internet Banking, or you want to use your right of withdrawal for one of the other accounts, please contact us on 0900 00 24 (usual call charges apply).

If you're calling from abroad, please dial +31 10 241 17 20
Available:
Monday to Friday: 9 am – 5 pm
Saturdays, Sundays and public holidays: closed

Are you an ABN AMRO MeesPierson client?
If you are, please contact your Private Assistance on +31 (0)20 343 43 43. Available:
Monday to Friday: 8 am – 9 pm
Saturday: 9 am to 5.30 pm
Sundays and public holidays: closed

Home Equity Mortgage

You took out this mortgage with the help of an adviser. If you take out a Home Equity Mortgage, you have a right of withdrawal for 14 calendar days. These 14 days start from the moment you sign the mortgage offer. During this period, you may terminate the mortgage without giving a reason.

Would you like to exercise your right of withdrawal for your Home Equity Mortgage?
Please contact your adviser within 14 days of signing the mortgage offer. You can also contact the Mortgage Helpline from the app (which is quicker) or by telephone on 0900 9210 (usual call charges apply).

Given the right of withdrawal, ABN AMRO will ensure that the notary doesn’t finalise the mortgage deed until after those 14 days have elapsed.

Non-life insurance

Would you like to exercise your right of withdrawal for your non-life insurance policy?
For all non-life insurance policies, with the exception of short-term travel and cancellation insurance, you always have the option to cancel the policy free of charge with retroactive effect up to 14 days after taking out the policy. You’ll then be refunded the premium you paid.

With short-term travel and cancellation insurance, you’re only entitled to cancel the policy within 14 days if the policy term is at least 1 month. With short-term cancellation insurance, the policy period starts immediately after taking out the policy. With short-term travel insurance, the policy period starts on the start date you’ve chosen. If you exercise your right of withdrawal for a short-term travel and cancellation insurance policy, you’ll be refunded the premium and fees paid.

Would you like to exercise your right of withdrawal?
To exercise your right of withdrawal, please call ABN AMRO Verzekeringen. They can be contacted on working days from 9 am to 5 pm on 038 4967082. ABN AMRO Verzekeringen will process the request immediately. You’ll receive a letter confirming cancellation of the insurance as a result of the exercise of your right of withdrawal.

Rood Staan (overdraft)

You have the right to cancel the overdraft agreement within 14 days of the agreement coming into effect, without giving any reason.

What happens if you exercise your right of withdrawal for an overdraft?

Your overdraft limit will be terminated.
If you’ve used the overdraft, you must repay the outstanding balance plus the interest due to us.
You have to do this right away, and at least within 30 calendar days after sending us your notice of withdrawal.

Personal loan

You have the right to cancel the loan agreement within 14 days of the agreement coming into effect (i.e. from the moment you receive the confirmation), without giving any reason.

Are you exercising your right of withdrawal and have you informed us of this? In that case, you’ll have to pay the loan amount back to us, along with the interest owed on that amount. You have to do this right away, and at least within 30 calendar days after sending us your notice of withdrawal. You’ll continue to pay interest until you’ve repaid the amount in full.

If you wish to exercise your right of withdrawal, please contact our call centre.

Pension top-up accounts

Would you like to exercise your right of withdrawal for your pension top-up accounts?
For the Leefrente account, Gouden Handdruk Leefrekening account and all pension top-up accounts, with the exception of pension investment schemes, you always have up to 30 days after taking out the product to cancel the pension top-up account free of charge with retroactive effect. In case of the pension top-up account, we’ll refund the amount you’ve paid in. For the Leefrente account and Gouden Handdruk Leefrekening account, an adviser will contact you to discuss the options available.

Would you like to exercise your right of withdrawal?
To exercise your right of withdrawal, please call ABN AMRO on 0900 00 24 (usual call charges apply).
Available:
Monday to Friday: 9 am – 5 pm
Saturdays, Sundays and public holidays: closed

Payments

If you’re having trouble doing this in the app or on Internet Banking, please contact us on 0900 - 00 24 (usual call charges apply).

If you're calling from abroad, please dial +31 10 241 17 20
You can reach us on:
Monday to Friday: 9 am – 5 pm
Saturdays, Sundays and public holidays: closed

Savings

For savings accounts opened online, your right of withdrawal applies for 14 calendar days after the account has been opened.

The right of withdrawal applies to the following savings accounts:

Direct Savings
Savings Deposit
Groen Spaar Deposito
KidsFuture Savings Account
Schenken met Beheer Spaarrekening
Term Deposit
Private Banking Spaarrekening
Wealth Management Spaarrekening

The right of withdrawal applies only to consumer clients, and not to business clients. If you exercise your right of withdrawal, you won’t receive any interest.

This option is available for:

Direct Savings
KidsFuture Savings Account
Private Banking Spaarrekening
Wealth Management Spaarrekening

If you're calling from abroad, please dial +31 10 241 17 20
Available:
Monday to Friday: 9 am – 5 pm
Saturdays, Sundays and public holidays: closed

Home Equity Mortgage

Given the right of withdrawal, ABN AMRO will ensure that the notary doesn’t finalise the mortgage deed until after those 14 days have elapsed.

Non-life insurance

Rood Staan (overdraft)

You have the right to cancel the overdraft agreement within 14 days of the agreement coming into effect, without giving any reason.

What happens if you exercise your right of withdrawal for an overdraft?

Your overdraft limit will be terminated.
If you’ve used the overdraft, you must repay the outstanding balance plus the interest due to us.
You have to do this right away, and at least within 30 calendar days after sending us your notice of withdrawal.

Personal loan

You have the right to cancel the loan agreement within 14 days of the agreement coming into effect (i.e. from the moment you receive the confirmation), without giving any reason.

If you wish to exercise your right of withdrawal, please contact our call centre.

Right of withdrawal

Right of withdrawal by product

Payments

Savings

Home Equity Mortgage

Non-life insurance

Rood Staan (overdraft)

Personal loan

Pension top-up accounts

Payments

Savings

Home Equity Mortgage

Non-life insurance

Rood Staan (overdraft)

Personal loan

Pension top-up accounts

Frequently asked questions

What is the right of withdrawal?

When does the right of withdrawal apply?

When does the right of withdrawal apply?

Does it matter how I took out the product?

Does it matter how I took out the product?

How do I exercise my right of withdrawal for a specific product?

How do I exercise my right of withdrawal for the Home Equity Mortgage?

Can I close the account if I’ve already used it?

Will I receive confirmation of my withdrawal?

What happens if I exercise my right of withdrawal?

Will I get my money back?

How long does it take to process if I exercise my right of withdrawal?

What if the 14-day period has expired?

What will happen to my balance and direct debits?

When can the account not be closed immediately?

What happens if a reservation is still outstanding and you want to close the current account?

What happens to any interest I am still due to receive or have to pay if the bank account is closed?

Why am I sometimes redirected to another provider?

Can I also cancel by telephone?

When does the right of withdrawal not apply?

What if ABN AMRO fails to inform me of my right of withdrawal?

Where can I take my questions?