Combating financial and economic crime, such as money laundering, corruption, and terrorist financing, is important because this type of crime can undermine trust in the entire financial system. Financial institutions, including ING, have a gatekeeper role in combating this. We do so by detecting and preventing criminal money flows.
Ensuring integrity in financial services is a top priority for us. To achieve this, we continuously conduct customer due diligence and monitor transactions. These checks are becoming increasingly intensive, including in terms of cost: we are deploying more staff and resources for customer due diligence. This is partly due to laws and regulations, but also because criminals are becoming increasingly creative when it comes to financial and economic crime.
"}},{"componentType":"sectionTitle","title":"Charging customer due diligence costs"},{"componentType":"paragraph","richBody":{"value":"We charge business customers for part of the customer due diligence costs. The fee currently depends on the legal form, as some legal structures are more complex than others. For example, a private limited company (BV) is more complex than a sole proprietorship and therefore pays a higher fee.
"}},{"componentType":"sectionTitle","title":"Rates for customer due diligence costs"},{"componentType":"paragraph","richBody":{"value":"In the overview below, you will find the different legal forms and the corresponding rates.
| Customer due diligence costs | |
|---|---|
| Sole proprietorship, commercial partnership (VOF), public partnership | %{prijs.zbt:basis.bankieren.kostenklantonderzoek.eenmanszaakvennootschaponderfirmamaatschap.eur}% per month |
| Association and foundation, private limited company under Dutch law (BV), cooperative, religious organization, limited partnership, legal form recognised in another country, other legal forms | %{prijs.zbt:basis.bankieren.kostenklantonderzoek.bvcooperatiekerkgenootschapcvbuitenlandserechtsvormoverige.rechtsvormen.eur}% per month |
| Public limited company under Dutch law (NV | %{prijs.zbt:basis.bankieren.kostenklantonderzoek.naamlozevennootschap.eur}% per month |
All business customers/entities that conduct their banking with ING are subject to these costs.
"}},{"title":"I have a sole proprietorship, general partnership (VOF) or professional partnership (maatschap). Will I also have to pay?","richBody":{"value":"We continuously conduct customer due diligence on all our customers and monitor their transactions. This includes sole proprietorships, general partnerships (VOF) and professional partnerships (maatschap). As these are less complex legal forms, the current fee for this is €0.
"}},{"title":"Which legal forms fall under “other legal forms”?","richBody":{"value":"These include, for example, the following legal forms:
We continuously conduct customer due diligence on all our customers and monitor their transactions. This also applies to associations and foundations, as we are required to prevent money laundering, corruption, and terrorist financing for these organizations as well.
"}},{"title":"Why is a distinction made between different legal forms?","richBody":{"value":"Business customers are classified by legal form. More complex legal forms and structures require greater effort on our part to mitigate integrity risks. As a result, the level of these costs depends to a large extent on the legal form of the organization.
"}},{"title":"I have multiple business accounts. Do I pay customer due diligence costs per account?","richBody":{"value":"No, these costs are not charged per account, but per entity/legal form. For example, if you have one private limited company (BV), you pay the applicable fee once. If you have three BVs, you pay this fee three times.
"}},{"title":"Why can’t ING compensate the customer due diligence costs with the profits it continues to generate?","richBody":{"value":"We continuously monitor whether our income and costs are in balance. The profit that ING generates worldwide is partly needed to ensure the continuity of the bank and, with that, the stability of the financial system of which ING is a part. At the same time, we are incurring increasing costs to combat money laundering, corruption, and the financing of terrorism. We pass on part of these costs. We absorb the majority of the costs ourselves.
"}},{"title":"ING has been incurring costs for customer due diligence for quite some time. Why are these costs only being passed on now?","richBody":{"value":"We waited as long as possible before passing on these costs, even partially. However, in recent years the costs of conducting customer due diligence and monitoring transactions have increased at an accelerating pace.
"}},{"title":"Can I expect more changes like this in the near future?","richBody":{"value":"We cannot comment on possible future developments, as the costs we currently pass on are determined by various factors.
"}},{"title":"Why are these costs charged at customer level instead of being based on the products you use?","richBody":{"value":"This is because we are required to carry out a large part of customer due diligence for all our customers, regardless of the products they hold.
"}},{"title":"You also regularly increase product fees. How do these increases relate to the costs of customer due diligence?","richBody":{"value":"Across our different products, we are also facing higher costs. We are continuously working to renew and improve our payment products and services. In addition, the costs of payment services are increasing because we are investing more and more in their security.
"}},{"title":"Why was it decided to charge these costs on a monthly basis instead of as a one‑off fee when opening a Business Account?","richBody":{"value":"ING conducts customer due diligence at various points in time: when an organisation becomes a customer, periodically, and whenever there is reason to do so during the customer relationship. The intensity and frequency of customer due diligence therefore depends on the customer’s risk profile and also on how promptly the customer responds. For this reason, we charge the average costs we incur per customer on a monthly basis, in line with the monthly debiting of other products, such as the Business Account.
"}},{"title":"Are these costs also charged to new customers?","richBody":{"value":"Yes, these customer due diligence costs are also charged to new customers.
Exception: customers with a Starter Package do not have to pay these costs during the first six months.
"}},{"title":"I do not agree with this change. Can I close my account free of charge?","richBody":{"value":"Yes, you can do this via My ING Business. Before you cancel, please make sure to check a few points first. Of course, we hope you will remain a customer with us.
"}},{"title":"Can I change the direct debit account for customer due diligence fees?","richBody":{"value":"Yes, that is possible. To change the account number, you can complete and return a form. The account number will then be updated as soon as possible.
"},"textLinks":[{"url":"https://assets.ing.com/m/9fc49ad579ee560/original/20220270-Formulier-Kosten-Klantonderzoek-een-vertegenwoordiger-v1-0_Extend_tcm162-242339.pdf","text":"Form for one representative (Dutch only)"},{"url":"https://assets.ing.com/m/4692a31a8582809e/original/20220270-Formulier-Kosten-Klantonderzoek-twee-vertegenwoordigers-v1-0_Extend_tcm162-242340.pdf","text":"Form for two representatives (Dutch only)"}]},{"title":"I pay extra because I live abroad: the non-resident account(s). Am I not paying the same fees twice now?","richBody":{"value":"No. This is because for business customers abroad we incur even higher costs to prevent money laundering, corruption, and terrorist financing. In addition to screening against Dutch and international laws and regulations, we must also verify that customers comply with the laws and regulations of the country in which they are established.
"}},{"title":"Do I have to pay VAT on the fee for customer due diligence costs?","richBody":{"value":"Yes, because the fee is not exempt from VAT.
"}}]},{"componentType":"sectionTitle","title":"Frequently asked questions about changes to fees for associations and foundations"},{"componentType":"accordion","accordionList":[{"title":"What do associations and foundations pay for customer due diligence?","richBody":{"value":"The fee for customer due diligence costs for associations and foundations is %{prijs.zbt:basis.bankieren.kostenklantonderzoek.verenigingenstichting.eur}% per month. This is in line with the existing fee for other complex legal entities such as private limited companies (BVs) and religious institutions.
"}},{"title":"What exactly do you have to investigate for associations and foundations?","richBody":{"value":"This is about ensuring that we have sufficient knowledge of our customers, their accounts, and the transactions on those accounts. In particular, this includes:
- The purpose of the association or foundation and the account
- Who is involved (board members, beneficiaries, etc.)
- The structure and size of the organization
- The sector in which it operates
- The background of certain transactions on an account: what is the purpose of these transactions, and do they align with the purpose of the account?
We see that, on average, customers within a particular legal form are comparable in terms of complexity. That is why we apply the same fee per legal form.
"}},{"title":"ING sponsors 550 amateur football clubs. Do they also have to pay higher fees?","richBody":{"value":"Yes, all associations and foundations that are customers with us will be affected by this fee increase.
"}}]},{"componentType":"linkList","iconTitle":{"title":"Downloads & information"},"textLinks":[{},{"url":"https://assets.ing.com/m/75df98bd553f61a0/original/tarievenbrochure-zakelijk-betalingsverkeer.pdf","text":"Business Payment Services Fees"}]},{"componentType":"linkList","iconTitle":{"title":"Payments"},"textLinks":[{"url":"/en/business/accepting-payments","text":"Accepting payments"},{"url":"/zakelijk/betalen/betalingen-doen","text":"Executing payments"},{"url":"/en/business/payments/cash","text":"Cash withdrawal and deposit"}]}]}}}