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ABN Amro vs ING

What to consider when comparing between accounts offered by these two Dutch banks.

ABN Amro and ING are among the largest banks in the Netherlands by assets, alongside Rabobank and SNS bank. But how do they differ in terms of account types and benefits?

In this guide, we’ll analyse each of the banks’ account offerings up close to help you make a well-considered choice.

Why should you compare between banks?

Not all bank accounts are made equal. While most people tend to assume that bank accounts are “all the same”, it’s simply not true. Bank accounts often have significant differences ranging from features to fees, so it’s important to pick the one that serves your banking needs.

For example, if you wish to have a joint account with your partner and need an extra bank card, make sure to find one that offers this option. If you travel frequently, you’d want to look at bank accounts with low foreign exchange fees. Make sure to brief yourself on the different account types to make an informed choice before committing to one.

Overview of ABN Amro and ING

ABN Amro

ABN Amro is a bank that is committed to help create a better world through sustainability. It’s the first bank in the world to offer wearables that enables retail customers to make payments in higher amounts at point-of-sale using PIN.

It offers a selection of individual, joint and fee-free junior accounts, but do note that these accounts are non-interest bearing at the moment. Also, bear in mind that being in the red would incur hefty fees at ABN Amro.

ING

ING is a socially engaged financial institution that offers free bank accounts for students, children (up to 12 years old) and teens (up to 18 years old). Additionally, you can also customise your own debit card with a range of unique designs at a small fee.

However, ING charges relatively high fees for overdrafts and overseas cash withdrawals. But if these are not much of a concern for you, ING can be an ideal choice.

Compare the ABN Amro and the ING

FeaturesABN AmroING
Fees
  • Children’s account for 0 to 11 years old: Free
  • Youth account for 12 to 17 years old: Free
  • Basic payment account: € 1.95 per month
  • Joint account (with one debit card): € 1.70 per month
  • Children’s account 0-11 years: Free
  • Youth account 12-18 years: Free
  • Student account 16-30 years: Free
  • Payment account: Free
Joint account optionYes. Choice of one or two debit cards, with a monthly fee of € 1.70 and € 3.10 respectivelyYes, from € 1.10 extra per month (including extra debit card)
ATM withdrawalsFree withdrawals from ATM within the Netherlands – up to € 10,000 dailyFree withdrawals from ATM within the Netherlands – up to € 10,000 daily
Contactless payments
  • Debit card
  • Apple Pay
  • Wearables (E.g. bracelets, rings, watches and more)
  • Debit card
  • Apple Pay
  • ING mobile banking app (Android)
  • Payconiq (Apple and Android)
Card options
  • Debit card comes free with every bank account. However, a fee may be charged for additional or replacement cards.
  • Each credit card comes with an annual fee of € 1.70
  • Debit card comes free with every bank account. Joint accounts are entitled to a second debit card for free. However, a fee may be charged for replacement cards.
  • Each credit card comes with a monthly fee of € 1.55
Credit card
  • Mastercard and Visa Card
  • Costs: € 1.70 per month
  • Cash advance: 4% per withdrawal
  • Exchange rate mark-up: 2%
  • Purchase guarantee: 180 days
  • Spending limit: Up to € 5,000
  • Payment term: 21 days

A Gold card costs € 3.60 per month with a purchase guarantee of 365 days.

  • Mastercard
  • Costs: € 1.55 per month
  • Cash advance: 4% and a minimum of € 4.50 per withdrawal
  • Exchange rate mark-up: 2%
  • Purchase guarantee: 180 days
  • Spending limit: Up to € 5,000
  • Payment term: fixed date

A platinum card costs € 52.20 p.a. with a purchase guarantee of 365 days and a spending limit of up to € 20,000. A student credit card costs € 13.80 p.a. with a spending limit of up to € 1,000

Overdraft
  • Up to € 5,000 with a debit interest rate of 9.9% and an annual percentage rate between 10.3% and 14%
  • Students are allowed up to a maximum overdraft of € 1,000 and pay a percentage of 8.1% for both the annual costs and debit interest rate.

Note: All interest rates are variable and may be subject to change

  • Up to € 2,000 with a debit interest rate of 9.9% and an annual percentage rate between 11% and 19.1%
  • Students are allowed up to a maximum overdraft of € 250, € 500 or € 1,000 (depending on income) and pay a percentage of 7.2% for both the annual costs and debit interest rate.

Note: All interest rates are variable and may be subject to change

Overseas payment and withdrawal feesDebit card
  • Cash withdrawal in euros: Free
  • Cash withdrawal in foreign currency: € 2.25 + 1.2% exchange rate surcharge
  • Payment in euros: Free
  • Payment in foreign currency: € 0.15 + 1.2% exchange rate surcharge per payment

Credit card

  • Cash withdrawal in euros: Free
  • Cash withdrawal in foreign currency: 4% (minus € 4.50) + 2% exchange rate surcharge per withdrawal
  • Payment in euros: Free
  • Payment in foreign currency: 2% exchange rate surcharge per payment.
Debit card
  • Cash withdrawal in euros in EEA countries: Free
  • Cash withdrawal in euros outside EEA countries: € 2.50
  • Cash withdrawal in foreign currency: € 2.50 + 1.2% exchange rate surcharge
  • Payment in euros: Free
  • Payment in foreign currency: 1.2% exchange rate surcharge per payment

Credit card

  • Cash withdrawal in euros: 4% (min. € 4.50) per withdrawal
  • Cash withdrawal in foreign currency: 4% (minus € 4.50) + 2% exchange rate surcharge per withdrawal
  • Payment in euros: Free
  • Payment in foreign currency: 2% exchange rate surcharge per payment.
Customer support
  • Languages: Dutch and English (subject to availability)
  • 24/7 online live chat
  • Round-the-clock customer service hotline
  • Daily support available via social media platforms: Whatsapp, Twitter, Facebook and LinkedIn
  • Speak with bank representatives (by appointment only)
  • Languages: Dutch and English (subject to availability)
  • Live chat – Available during customer service hours only
  • Customer hotline available 6 days a week during operating hours
  • 24/7 emergency hotline (for loss or theft of credit card, fraud or scam)
  • Daily support available via social media platforms: Twitter and Facebook
Interest rates
  • 0% for total balance up to € 150,000*
  • -0.50% for total balance above € 150,000
  • 0.01% for balance up to € 100,000
  • -0.50% for balance above € 100,000
Depositing cash notes
  • 0.5% of the amount per deposit
  • First six deposits in any calendar year will be free for children under 18 with a Youth Account
  • First six deposits in any calendar year are free of charge
  • Subsequently, it’ll cost up to € 6 per deposit
SecurityiDEAL transactions require authorisation from the mobile banking app, which is only accessible with your unique login details.iDEAL transactions require authorisation from the mobile banking app, which is only accessible with a five-digit PIN code.
Savings interest0.0%Up to 0.01% on your savings account
Card deliveryWithin 3 working daysWithin 3 working days
RegulationnsABN Amro is licensed in the Netherlands and regulated by the Dutch Central Bank.ING is licensed in the Netherlands and regulated by the Dutch Central Bank.
Other services
  • Home insurance
  • Travel insurance
  • Car insurance
  • Life insurance
  • Investments
  • Mortgages
  • Loan
  • Pensions
  • Home insurance
  • Travel insurance
  • Car insurance
  • Mobile insurance
  • Investments
  • Mortgages
  • Loan
  • Pensions
ExtrasThe ABN Amro mobile banking app may be synced with the GRIP cash book app, providing a complete overview of your income and expenditure.You may personalise your debit card with a photo or your own design.
In-depth reviewLearn more about ABN AmroLearn more about ING

How do ABN Amro and ING compare in various aspects

Take a look at how these two banks stack up against each other in different areas:

Account fees: ING

ING’s Orange Savings account has no monthly fees, but ABN Amro charge € 1.95 per month for their basic account. If you’re looking to open a joint account or apply for an extra debit card, ING is also slightly cheaper. However, this difference is negligible and does not warrant a need to switch.

ING also stands out for being a more affordable banking option for students. Students can open an account at ING for free and apply for a student credit card with a € 1,000 spending limit.

Overdraft interest: ABN Amro

If your bank account tends to be in the red, then ABN Amro is a better choice. The amount that you can be overdrawn at this bank is also higher than at ING and at a more advantageous interest rate. Students, on the other hand, receive a better interest rate at ING.

Interest yield: ING

Savings up to € 100,000 is better at ING. While the interest yield may be derisory, it is certainly something especially since ABN Amro doesn’t offer any interest at the moment.

Cost-effectiveness for large account balance: ABN Amro

ABN Amro is more appealing for those with a larger balance as you’ll not need to pay any negative interest up to an amount of €150,000 from 1 July 2021 onwards. At ING, however, you’ll need to pay negative interest for balances above €100,000 starting from 1 July 2021.

Range of financial products and other benefits: Tie

Both banks offer multiple insurance policies and other services, so you’d have a single point of contact for all these financial matters. ABN Amro offers a handy mobile app, which provides a clear overview of your expenses. At ING, you’d have the option to personalise your own debit card.

Bottom line

When it comes to choosing a Dutch bank, both ING and ABN Amro are good choices – with their fair share of differences and similarities. In short:

Since there’s no ‘best’ account and neither bank is better than the other, it all depends on your banking needs and personal goals. Switching bank accounts may also be a hassle, so make sure you’re clear on what to look for and compare all account options before applying.

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