Finance minister calls on banks to lower interest on overdrafts

NL Times | Apr 4, 2020 at 11:44 AM
  • Finance Minister Wopke Hoekstra has called on Dutch banks to reduce the interest rates they charge on overdraft payments in a new move designed to financially support consumers in the wake of the coronavirus crisis.
  • Overdraft payments on the other hand have been subject to considerably higher interest rates, ordinarily sitting at above 10 percent.
  • Already, the first banks have begun responding to the minister’s directive, with Rabobank, ABN AMRO and SNS Bank all having lowered overdraft rates on Friday.