The massive closure of accounts at ING Luxembourg continues to raise eyebrows. The government responded to four parliamentary questions on the subject on Tuesday.
When the CSV MP Laurent Mosar asked Finance Minister Gilles Roth (CSV) how he intended to react to the situation, he replied that it was “obviously not up to the government to comment on the commercial policy of a financial institution” . He nevertheless emphasizes that during discussions with the bank, emphasis was placed on the importance of “ensuring clear communication with customers and finding appropriate solutions for them”.
In its response to LSAP parliamentarian Paulette Lenert, the Ministry of Finance writes that a bank is free to terminate a business relationship in accordance with its general conditions. The bank must, however, give the customer sufficient time to open a new account with another establishment. ING assured that the accounts would remain accessible to the customers concerned and that its banking services would be guaranteed until the transfer to another bank. Banking association ABBL, however, confirmed that other retail banks in the region were committed to finding solutions for affected customers as soon as possible.
Right to a basic account
In response to Green MP Sam Tanson’s question, the minister wrote that the supervisory authority CSSF had not yet been contacted by people complaining of difficulties opening an account in a new bank after termination.
In this context, pirate parliamentarians Sven Clement, Marc Goergen and Ben Polidori point out that people residing in Luxembourg are entitled to a “basic payment account” with banks in which the Luxembourg state is a shareholder and which offer services basic financial services such as cash withdrawal.
This article originally appeared on the Luxemburger Wort website.
Adaptation: Mélodie Mouzon
