ABN Amro to hike business fees for ‘manual’ payments processing

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ABN Amro is to raise fees for business customers who use payment services that require manual intervention, as part of a move to switch more clients to digital banking channels.

The Dutch bank says fees for a total of around 10% of the bank’s payment services will be adjusted to more accurately reflect the costs of manual processing. This will affect various businesses, says the bank, but chiefly trade finance companies.

While a “small number” of online services are also set to rise – “either because they have not been adjusted for several years or because development costs, part of which are included in the fee, have gone up” – others will be reduced concomitantly.

In a statement, the bank says: “ABN Amro wants to encourage the use of online services and will, for example, increase the fee for depositing cash with a sealbag. The fee for depositing cash in an ATM, however, will be reduced because the cash is counted by the machine.”

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