The closure of ING France has just become a fiasco. Many clients find themselves in a catastrophic situation, between accounts closed without prior notice, and transfers of savings, investment and credit products that are prolonged. A class action against the Dutch banking establishment is being prepared.
In January 2021, the Dutch banking establishment ING, present in France for 20 years, announces his departure from France. To facilitate this delicate operation, ING has announced that customers will be able to benefit from a Simplified transfer procedure by contacting Boursoramachosen by ING as a “partner”.
On paper, the principle seemed fine-tuned and well thought out, with the aim of speeding up transfers, maintaining the continuity of existing customer contracts and seducing them with welcome offers (up to 320 euros offered depending on the services contracted). We are still talking about a potential for 500,000 additional customers for Boursorama.
However, please note that the transfer of a current account from ING to Boursorama is not automatic (unlike life insurance contracts). ING had announced that customers would be contacted in successive waves until the summer of 2022 to offer them this option. And for those who prefer to go to another bank, will have to settle for the traditional procedurewhich can sometimes take some time.
Checking accounts blocked overnight
And indeed, everything indicates that ING completely forgot to include these clients in its calculations and to take into account the usual deadlines for transfers from bank accounts to another institution. Since the beginning of the summer period, many ING clients suddenly found themselves without a current account, with warning emails sent just a few days before closing. “At the end of July 2022, my bank account was closed, 2 or 3 days after receiving a simple letter announcing the upcoming closure of my account. says an ING client in the Figaro columns.
Very little time to change banks. Therefore, these customers found themselves without any means of payment (neither credit card, nor RIB, nor cash) in the middle of the summer period. At least we can take comfort in knowing that closing accounts will not be charged“with the exception of inactive account maintenance fees, according to the current rate”, according to ING.
Also read: Bank card: banks are obliged to reimburse customers who are victims of fraud
Problems with savings and investment products
cherry on the cake, customers who have savings or investment products are also in trouble. Regulated booklets like booklet A or LDDS are also affected by this mess. Obviously, ING France is overwhelmed by the volume of closure requests. However, as provided by French law, it is impossible to open a savings account of this type in another establishment until the first one has been closed…
As expected, this multiplication of requests to open multiple accounts also causes jams in other French banks. “We are struggling to meet the deadlines imposed by the ING”, acknowledges the director of the BNP Paribas Foch Maillot agency in Paris to our colleagues on the Le Particulier site.
And during this processing time, savers can sit on the interest that should have been earned between the closing of the account by ING and the opening of the new one. Exasperated by this situation, many aggrieved customers decided to band together and file a class action lawsuit against ING. “You can contact us to join the collective action that we are going to launch. The objective is that each saver is compensated, at least, for the interests that he has not received ”, explains Michel Guillaud, interested client and president of the France Conso Banque association.
Make a cross on your assets and values
As for holders of a PEA (stock savings plan) or a securities account, the situation is not much better. “In the absence of a request to transfer or close the securities account or PEA, ING reserves the right to initiate the closure of your account(s) from August 2022 and to sell your securities in accordance with our general conditions”. You read correctly, these customers, who received this alert message in July 2022 for the vast majority, You could lose all your assets… Unless they manage to turn around before the fateful date. Problem, a transfer of assets or securities takes time, and during this period, it is impossible for the saver to buy or sell. This can lead to significant financial damage.
If the client has not been able to react in time, ING will have to send a RIB from an active account to the following address to recover the money: ING – Operations Department, 40 avenue des Terroirs de France, 75616 Paris cedex 12. “The invoice will be submitted to ING, we will quantify the damages of each person who will join the collective against ING”, Michel Guillaud promises.
Finally, and in relation to the real estate loans signed with ING, the Dutch company keeps them. However, you will need to indicate your new online banking checking account via a stampless envelope (containing your new RIB) to this address: ING – Real Estate Credit / Management, Free response 70678, 75567 Paris Cedex 12. The procedure remains the same for personal loans.
Source: Le Figaro
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