Switching bank

Your bank can change the terms and conditions of your account agreement provided that it gives you two months’ notice. This notice must be provided in writing or another durable format, and separately from your bank statements.

Banks can only introduce new terms with immediate effect if they are more advantageous to the customer.

If you are unsatisfied with the new terms and conditions, and provided that your contract so allows, you will need to notify the bank that you reject the new terms before they come into effect. Otherwise the bank will assume your consent. The bank must also inform you that you are entitled to cancel your account immediately at no cost.

You can quickly and easily switch your account to another bank at any time. Both banks (the old one and the new one) must actively cooperate in the switch, which must be completed free of charge within 12 business days. This includes moving any direct debits linked to the account.

If you are offered better terms and conditions elsewhere, consider transferring your account transferring your account. When it comes to better terms and conditions, don’t just think about higher returns or lower costs; think about what suits your needs.

Do you need a bank with a branch near your home or do you prefer online banking? Do you want all of your products at a single bank or would you prefer to diversify?

Whatever your preferences, your relationship with your bank does not have to be forever. Feel free to consider other options.