Romanian bank drops fees for withdrawing cash from other banks’ ATMs

A bank in Romania has decided to eliminate fees for its active individual clients who withdraw cash from ATMs operated by other banks. ING Bank Romania has decided to make this bold move in an attempt to further increase its active client base. Thus, the ING Card Complet holders who receive their salary or other recurrent income (minimum RON 700 per month) in the ING account and make at least one payment each month using the ING card can withdraw money from other banks without paying any additional fees. The no withdrawal fee policy also applies when clients withdraw money from banks abroad. Until now, all ING clients who took out money from other local banks’ ATMs had to pay a fee of RON 5 per operation while the fee to withdraw money from banks abroad depended on the sum and the card type. ING clients who only use their cards occasionally will also benefit from lower fees when withdrawing money from other banks, namely RON 3 per operation at local banks, and EUR 4 per operation at banks abroad. They will also have to pay a RON 7 monthly fee for account management and RON 3 per transaction when they withdraw money from ING ATMs. ING Bank reached over 1 million active clients at the end of 2016, up by 16% compared to 2015. Some 345,000 clients used ING as their main bank last year. ING Bank is one of the top 10 biggest banks and most profitable banks in Romania. It had total assets of RON 28.9 billion at the end of 2016, up 21% over 2015, and a net profit of RON 474 million, up 42%. editor@romania-insider.com