ING may start to bill their customers for storing funds on business accounts
Truly we live in the age of wonders
ING Belgium does not exclude that all its professional customers will have to pay if they park their money at the bank. However, such a negative interest rate on deposits is not an issue for private clients, said Erik Van Den Eynden, CEO of De Tijd in Belgium.
A negative interest rate has been applied to deposit accounts of large professional customers for some time. “These are players with tens to hundreds of millions in deposits,” says Van Den Eynden. But if the interest rate climate remains bleak for a long time, the CEO does not exclude the possibility that all professional customers will be charged such a penalty. Whether one-man businesses or people with liberal professions are included among those professional customers, the bank leaves out the question.
De Tijd points out that Van Den Eynden is the first top man of a Belgian major bank to open the door ajar for a penalty interest for his business customers.
In the Netherlands, it has long been the case that large corporate customers are charged negative interest rates, ING reports. This has been happening since 2017, often in custom constructions. In the meantime, the limit on the size of deposits with negative interest rates has been lowered. The bank does not exclude that the limit will fall further in the future.