Thousands switch banks after executive pay rows

Thousands switch banks after executive pay rows

23rd April 2015, Comments 0 comments

Thousands of people have moved their bank accounts from ING, ABN Amro and Rabobank to smaller and alternative banks.

This is in the wake of the rows over executive pay rises of at least EUR 100,000, Trouw reported on 22 April.

ASN bank director Ewoud Goudswaard says hundreds of people are opening accounts every day because they are fed up with the big banks. ‘People want to see change in the banking sector,’ he said. ‘They want banks to be more involved in society, care more about their clients and be transparent about what they do with their money.’

Since the financial crisis in 2008, ASN has added 200,000 new clients while green bank Triodos claims an increase of 400,000 customers. Both banks had 600,000 clients by the end of last year.

This week has been designated ‘I’m switching bank week’ by journalist Rutger Bregman in the Correspondent, a call which has generated considerable publicity in the mainstream Dutch media. ‘I’ve been promising to make the change for years but I never do,’ he said in a 20 April article. ‘People only get on with it when they feel they are not alone. That is why it is time for a national “I’m switching bank week”,’ he said.



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