The largest direct bank in Germany, ING, will be implementing fee increases starting December 1, 2024.

Account Management Fee Increases

Starting from December 1, 2024, ING will be implementing fee increases that will affect both current account management and securities trading.

• The minimum monthly deposit required for free account management will increase from €700 to €1,000.
• Customers who do not meet this threshold will incur a monthly fee of €4.90, except for customers under the age of 28 who will continue to have free account management.

Debit Card Fees

The cost of the Girocard will also increase:

• The monthly fee for the debit card will rise from €0.99 to €1.49.
• Customers using their cards for transactions in non-euro countries will face a foreign transaction fee of 2.20% of the transaction amount, with a minimum charge of €1.
• The same fee structure will apply to the Visa debit card.

New Customer Bonus

To offset these fee increases, ING is offering a €200 bonus for new customers who open a new current account by December 15, 2024, and make at least five transactions within the first four months using their Visa debit card.

Cash Deposits

Cash deposits at ING ATMs, which were previously free, will now incur a fee:

• The fee will be 1% of the deposited amount, with a minimum charge of €2.50 and a maximum of €7.50.

Securities Trading

There are changes to the commission and fees for securities trading:

• The commission for executing share savings plans will decrease from 1.75% to 1.5%.
• Trading venue fees for transactions on the Xetra and Munich stock exchanges will rise from €1.90 to €2.90.
• A new standard commission structure will be introduced for the sale of funds via the fund company, with customers facing a fee of €4.90 plus an additional 0.25% of the market value.

Alternative Options

Customers may consider alternatives to ING's current account offerings:

• The smart current account from C24
• The N26 standard current account
• The Essential current account from Consorsbank

Customers are encouraged to explore their options and make informed financial decisions.