FAQ Account closure

We continuously evaluate our activities, including assessing whether they are likely to achieve the preferred scale in the market within a reasonable time frame. We have concluded that, for us, there is no realistic path towards sustainable growth in the foreseeable future in Mass Retail Banking in Luxembourg.

In accordance with article B.9 of ING Luxembourg's General Terms and Conditions, the Bank has the right to unilaterally terminate its business relationships and/or customer accounts at any time without having to state the reasons.

More information in our press release from 29/05/2024:

Please, rest assured that your accounts, cards and insurances remain active and accessible until 30 September 2024 while you take the necessary actions to transfer all your assets.

It goes without saying that your account will not be closed before your balance has been transferred to a new bank account, in accordance with your instructions.

If you complete the account closure process on My ING (account closure form completed), your accounts will be closed by our teams, after your Visa balance has been reimbursed, if you have one.

When ready, you can initiate the termination procedure by clicking on the button provided for this purpose when you log on to My ING.

Please, rest assured that your accounts, cards and insurances remain active and accessible until 30 September 2024 while you take the necessary actions to transfer all your assets.

In this case, you are not concerned at this stage and no action is required from your side. We remain at your disposal for any questions you may have.

ING continues to serve all clients with mortgage loans, other loans and/or investment portfolios.

• Download all your statements:
  • Select "My documents" in the main menu
  • Select "Account statements"
  • Select the account for which you wish to download the statements
  • You can now download the most recent statements
  • If you wish to download older statements, you can use the "search" option.
     
• Download other relevant documents already available in My ING (statement of charges, tax certificate, debit interest certificate, etc.) 
  • You can find all the different categories via the "My documents" menu in the main menu.
     
• Transfer your current transactions to the new bank:
  • Either by using the banking mobility service (you may ask the new bank to do the work for you)
  • Or you can do it yourself (see checklist)

We recommend that you download and save or print your account statements via My ING before the final settlement of your account. 

Once your account has been closed, you can always request a new issue of your statements from our Contact Center.

To download your account statements in My ING: 

• Select "My documents" in the main menu
• Select "Account statements"
• Select the account for which you wish to download the statements
• You can now download the most recent statements

If you wish to download older statements, you can use the "search" option.

No, we will only do this at your request or when we are obliged to do so following the non-repayment of your debit accounts.

This does not pose any problem as regards transferring the assets to another bank in the euro area and definitively closing the account.  However, if your assets are in a currency other than euro, you may be liable for transfer or exchange fees, both for cash and securities.

If, for example, you have an account(s) with a credit balance and an account(s) with a debit balance, we will adjust the debit balance by offsetting it against the credit balance(s) on the other account(s) without prior notice, in accordance with article A.8.2. of the General Terms and Conditions of ING Luxembourg.

There are no charges for closing the account if the transfer is made in euro to an account in your name at a bank in the eurozone.  The charges that will be deducted are custody charges, i.e. the charges relating to the activity of the account before the closing date, as well as any debit interests.

Your LuxTrust certificate will not be affected by the closure of your ING account. 

This certificate is issued by ING in its capacity as Registration Authority on behalf of LuxTrust and is specific to you: you can use it to identify yourself at other banks and to certain authorities. Your certificate will remain active until its expiry date (please refer to the LuxTrust website for further information).

In some cases, it is possible that the LuxTrust certificate you were using at ING cannot be used at your new bank. In this case, your new bank will help you to create a new LuxTrust certificate.

However, please note that at the end of this year, the (physical) token will no longer exist (following a decision by LuxTrust, following a press release to this effect). We therefore advise you to download and use LuxTrust Mobile before the end of this year.

In accordance with the provisions of Article 23 paragraph (1) of the Payment Accounts Act of 13 June 2017 (as amended), certain banking institutions are obliged to offer basic payment accounts to consumers who do not have or no longer have a bank account with another institution.

• The list of institutions concerned is available on the Commission de Surveillance du Secteur Financier (CSSF)'s official website.
• You can also find more information about basic payment account and bank’s onboarding procedures on the Luxembourg Bankers' Association(ABBL)’s official website

We suggest you to r contact these establishments should you need additional information.

If you do not have another account registered in your name in the eurozone, you will have to choose another financial intermediary in the eurozone and open an account there. Alternatively, if you have only a small amount of cash in your account with us, you can withdraw funds using your card, our ATMs or at the cash desk of our head office branch.

The simplest and most effective solution is, of course, to open an account at another bank and transfer the funds there.

In the event of a positive balance on your account(s) and/or on any securities portfolio, there is no problem transferring cash to an account opened in your name in a bank in the eurozone and securities to another account opened in your name in another bank in the eurozone.

No charges will be applied to the transactions resulting from the decision to terminate and the transfers so required. However, any charges due (prior to the termination letter) for use of the account, card(s), etc. will be applied.  

The best solution is to follow the digital account closure procedure when you open your My ING application.

Failing this, please send us the form at the bottom of this page, duly completed and signed. We take care of everything. Upon receipt of your form, transactions on your accounts will no longer be possible and you will have to wait for the money to be available in your new bank, which can take several working days.

• Passport or identity card, copy legible on both sides
• Certificate of residence (less than 3 months old)
• Copy of employment contract or salary slip
• TIN (tax identification number)
• Etc. depending on the bank

As long as you are still within the notice period your cards should be active. 

This letter of cancellation takes precedence over any other communication you may receive from ING Luxembourg. 

First of all, repay any debit balances on your accounts and respect the repayment deadline to avoid late payment charges. 

For all practical information about reimbursing your Visa account: Visa account or FAQ-pay.

As far as the insurance of your VISA card is concerned, all payments made with your card will remain covered under the terms of the general conditions of your VISA card (article C.1. of our Visa General Terms and Conditions) even after its cancellation.

The assistance linked to your card will cease to apply on the day your card is blocked (i.e. on the date indicated in your letter of cancellation of your card/account).

If you had chosen to receive your Visa statements via My ING, remember to retrieve them before the date of closure of your accounts.

We really want to make this process as smooth as possible for you. We have put in place several measures to answer your questions and explain the account transfer process:

• We have increased the number of people at your service in our branches located in Ettelbruck, Esch/Alzette, Strassen and Luxembourg Gare;
• We have also increased the number of people answering your calls and messages in our Contact Center team at +352 44 99-1;
• Our branches located in Mersch, Dudelange, and Kirchberg are open from 9am to 12pm from Monday to Friday without an appointment . Due to the holiday period, they will go back to their standard opening hours as from 22/07/2024, on weekdays from 9am to 7pm by appointment only.