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5/30/14

European Banking Industry: the Netherlands-Depositing cash into your account is not free at major Dutch banks

Paying cash into an ING bank account is to cost €5 a time - after six free deposits - the AD reports on Wednesday.
The bank, which has nine million current account holders, says it is introducing the charges because processing cash is expensive. Children and students will not have to pay a fee.
The Telegraaf says Rabobank has already introduced charges for cash deposits.
- See more at: http://www.dutchnews.nl/news/archives/2011/12/depositing_cash_money_no_longe.php#sthash.GGpzLPzc.dpuf
Paying cash into an ING bank account is to cost €5 a time - after six free deposits - the AD reports on Wednesday.
The bank, which has nine million current account holders, says it is introducing the charges because processing cash is expensive. Children and students will not have to pay a fee.
The Telegraaf says Rabobank has already introduced charges for cash deposits.
- See more at: http://www.dutchnews.nl/news/archives/2011/12/depositing_cash_money_no_longe.php#sthash.GGpzLPzc.dpuf
Paying cash into an ING bank account is to cost €5 a time - after six free deposits - the AD reports on Wednesday.
The bank, which has nine million current account holders, says it is introducing the charges because processing cash is expensive. Children and students will not have to pay a fee.
The Telegraaf says Rabobank has already introduced charges for cash deposits.
- See more at: http://www.dutchnews.nl/news/archives/2011/12/depositing_cash_money_no_longe.php#sthash.GGpzLPzc.dpuf
Depositing cash into their own  bank accounts is costing Dutch Citizens approximately €5 ($6.82) at a time - after they have done six free deposits -

Dutch banks says it had to introduce these charges and fees because "processing cash is expensive". Children and students, they say will not have to pay a fee.

As unbelievable as this may sound it is true and worse is that the Dutch center right coalition Government of Rutte and Samson has not taken any action against this disguised form of "robbery",

Cash still has a "dominant role" when it comes to small-value transactions. It also remains essential form of payment for lower-income consumers who may not have access to alternative payment options, and it is widely used for retail sector payments.

"Small folks" have made businesses, including banks, who they are, and many companies can collapse as a result of the same "little people" united strength. It's really sad that in 2014 - people still constantly need to fight for what is theirs instead of sharing what we have, so we all can gain.

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