The limit of withdrawing cash free of charge has changed
As of 1 January 2022, the limit for withdrawing cash (notes and coins) free of charge changed from €12,000 to €17,500 per year. This allows you to withdraw more money without incurring costs. The €17,500 threshold applies per account holder, not per debit card or current account. If you have several accounts, the withdrawals from all your accounts will be added together. In this context, withdrawals from a joint account will be assigned to the account holders in equal shares. The €17,500 threshold applies to all cash withdrawals of coins and notes (including foreign currency) at the Netherlands and abroad. When you make any withdrawals in foreign currency, the equivalent value in euros will be added. If your cash withdrawals exceed €17,500 per year, a fee of €5 per transaction plus 0.5% of the amount withdrawn will be calculated. Different thresholds apply for students and young people.
The effective date of the new threshold was 1 January 2022, but the € 17,500 limit took effect on 1 April 2022. This means that if you were already charged in the months of January, February or March 2022, the overpayment will be refunded to your account. This concerns only the costs you have paid for withdrawals between € 12,000 and € 17,500. The overpayment will be refunded in around the third week of May.
Please note that you always have to pay € 0.30 per roll for withdrawing coin rolls with a minimum of ten rolls at a time (and a maximum of 20). The total amount of your coin withdrawals counts towards the € 17,500 threshold.
Non-resident surcharge for current accounts
Do you live outside the Netherlands and have a current account? For clients who do not live in the Netherlands or in a special municipality (BES islands), the costs we incur as a bank are higher on average. Some of these costs are charged as an additional fee for your current account. The amount of the surcharge depends on the risk profile of your country of residence. Every year, we reassess the risks for each country. The situation in a number of countries has changed, and those countries have therefore been assigned a different risk profile and a different surcharge. The risk profile for the following countries will change as of 1 July 2022:
- United Kingdom
- Costa Rica
- Jordan
- Bhutan
- Kiribati
- Palau
- Man
- Antigua and Barbuda
Validity period passive Wearable
A passive Wearable has a validity of 3 years. This is described in the Wearables Terms and Conditions. From 1 July 2022, this is also stated in the Consumer Payment Services Conditions, see Article 3.3.
Contactless payment limit increased
If a client's debit card and the payment terminal display the contactless payment logo, the client can make a payment without needing to enter their PIN code. Contactless payments have a limit of €50 per payment. This used to be €25. In Article 11.2 of the Consumer Payment Services Conditions, you can find out more about paying by debit card without entering a PIN code.
View the new terms and conditions:
