On September 1, the curtain fell on Rabobank.be, after twenty years of being in Belgium. Then the final accounts are closed.
Dutch group Rabobank announced in June last year that it would stop Belgian savings activities, after no buyer was found. Mass layoffs have been requested for 53 employees.
Construction has been taking place since then. Term accounts were closed first, followed by savings accounts on July 1 this year. Funds still in these accounts are automatically placed in the checking account. After that, customers have three months to transfer their money to another bank. Current accounts will be closed on September 1, immediately after the end of Rabobank.be’s activities.
The money that was still with Rabobank.be at that time was not lost. It is transferred to the Office of Deposit and Shipping in Federal General Finance. There it can be ordered up to thirty years after the transfer via the digital application e-DEPO.
Rabobank.be has announced that since the closing was announced, nearly 100,000 customers have closed their accounts. That’s about half. They represented 5 of the 7 billion euros in the accounts. There are now just under 2 billion euros in the online savings bank.
High interest rates
Rabobank.be has been in Belgium since 2002. For a long time, the thrift bank has been tempting savers with high interest rates. In recent years, activities have been systematically curtailed. For example, in 2018, investment products were acquired by Keytrade Bank, and in 2019 the company’s accounts were closed. The wholesale division (services for large companies) at Rabobank in Belgium will remain active.
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