FAQ Account closure - agreement with Post Luxembourg

ING's impacted clients will receive a dedicated letter explaining this partnership and the special offer they can benefit at POST Luxembourg, more information on www.post.lu/welcome.

As recently announced, ING in Luxembourg is changing, focusing on where we can make a difference. We have decided to concentrate our services in Luxembourg on Personal and Private Banking, offering a wide range of investment and savings products, as well as Wholesale Banking (corporate and institutional clients).

After careful consideration, we have made the decision to gradually discontinue all other activities in Luxembourg. This includes our Business Banking and Lease offering. 

This decision was not taken lightly, and we are committed to providing you with the best possible support during this transition. 

To support you during this transition, we have established an agreement with POST Luxembourg to offer you an alternative professional daily banking solution. POST Luxembourg’s banking offer is focused on the everyday banking needs of small and medium businesses, self-employed individuals and entrepreneurs rooted in Luxembourg and we are confident that they will serve as a reliable and trusted partner for your day-to-day professional banking needs.

If an agreement with POST Luxembourg was mentioned in the letter you received from us, you can benefit from a free professional banking package for one year with POST Luxembourg, as part of the exclusive Welcome Pack. In addition to this banking offer, the Welcome Pack also includes telecommunication and postal services.  Details about the Welcome Pack and the full range of financial services provided by POST Luxembourg can be found on www.post.lu/welcome. 

We will contact you in due course with comprehensive details and terms regarding POST Luxembourg’s offer, along with guidance on the next steps.

If you have further questions regarding your transition to POST Luxembourg: 

• Visit their dedicated web page www.post.lu/welcome;
• Reach out by calling 8002 8004, from abroad +352 2424 8004 (07:00 AM – 08:00 PM, Monday to Saturday);
• Take an appointment at one of their branches on www.post.lu/rdv. 

You will find all details and conditions on the dedicated offer of POST Luxembourg on www.post.lu/welcome. 

You are free to select a bank that best suits your needs, however, the exclusive offer for your professional daily banking needs is only available with POST Luxembourg. 

For your convenience, the CSSF has a list of establishments in Luxembourg where you can enquire about opening an account. You can find the list and more information on the Commission de Surveillance du Secteur Financier (CSSF)'s official website.

Independently of your decision, as a Business Banking client our banking relationship will soon come to an end.

You are free to select a bank that best suits your needs, however, the exclusive offer for your professional daily banking needs is only available with POST Luxembourg.   Independently of your decision, as a Business Banking client our banking relationship will soon come to an end.

Following the recent press announcement, all our Business Banking clients should have received a letter explaining what this announcement means for their accounts. If you have not received our letter on our communication, please don’t hesitate to contact us. We remain at your disposal to provide you with clarity and support regarding the future of your accounts.

We will contact you in due time to explain how to initiate the procedure for the closure of your account(s) and associated products. The gradual phase-out of Business Banking and Lease activities is planned to begin now and continue through 2026. 

However, you are free to start your account closure at any time.

If you have questions, our Contact Center team is available at +352 44 99-0 (Monday to Friday from 08:30 AM to 06:00 PM) to answer your calls and messages or to take an appointment in one of our branches. More information on ing.lu/branches.

Don’t hesitate to contact us via ING Luxembourg - Business Banking : Contact us

In case you hold any accounts at ING Belgium, or other ING entities, these accounts are not impacted by this decision or the present communication. Do not hesitate to reach out to your relationship manager at ING Belgium, or other ING entities, for any questions you may have.

To support our Business Banking and Lease clients during this transition, we have established a referral agreement with a local financial institution. We regret to inform you that for some clients, their situation falls outside the requirements of our referral agreement with POST Luxembourg. However, you are still welcome to contact POST Luxembourg directly to open an account—they will be happy to assist you with your request.

We recognize that such a significant change may disrupt your plans and expectations. Please rest assured that our teams will be here to support you throughout this transition and will do their utmost to make it as smooth as possible.

This offer was negotiated with POST Luxembourg after the notification you received on the termination of the relationship.  However, you are still welcome to contact POST Luxembourg directly to open an account—they will be happy to assist you with your request.

This offer was negotiated with POST Luxembourg after that you initiated a termination of the relationship with ING.. However, you are still welcome to contact POST Luxembourg directly to open an account—they will be happy to assist you with your request.

ING will share your data with POST Luxembourg only if you, as the legal representative, have signed and submitted the consent form included in the referral letter. This form authorizes the secure exchange of information between ING and POST Luxembourg to support the account opening and closure process and it includes different consents:

1. Data Sharing Consent: is a consent for POST Luxembourg to share with ING a copy of this form as well as the full name, address, RCS number and the account reference (and to the extent as necessary, as an ultimate fallback of a missing document in the application file for the opening of an account with POST Luxembourg, any KYC documentation required) to facilitate the transfer of remaining cash assets and closure of all accounts held by the Company at ING (hereinafter the “Company’s Data”). ING and POST Luxembourg may as well exchange any other Data linked to the Company and deemed necessary by ING and POST Luxembourg to process any complaint initiated by the Company in relation to the opening of its New Account (as defined below) and/or the transfer of remaining cash assets and closure of the Company’s accounts at ING.
2. Banking Secrecy: is a consent for ING to share all relevant Company’s Data with POST Luxembourg and POST Luxembourg to share all relevant Company’s Data with ING as part of the account opening process with POST Luxembourg.
3. Account Closure: is a consent for ING to transfer all its remaining positive balances of all accounts held by the Company at ING to the new account opened at POST Luxembourg (the “New Account”) and then close (all) the Company’s account(s) held at ING. The Company is informed that the processing of the closure of its ING account(s) may take several working days after receipt by POST Luxembourg of this form, and remains subject to the closure of all remain products with ING (such as rental guarantee, debit balances of any kind due to the existence of a credit agreement or not and/or the holding of securities) before the remaining balance is available on its New Account. This transfer will be processed in one single transaction by ING after having consolidated the positive balance(s) (and after having set them off with any negative balance(s) of its ING accounts).  
4. Data Processing: is a consent to share any personal data, if any, concerning the legal representative(s),  proxyholder(s) and/or beneficial owner(s) of the Company will only be collected and processed for the purposes mentioned above by ING and POST Luxembourg in accordance with their respective personal data statements and general terms and conditions applicable to the Company’s accounts as well as all applicable data protection laws.  

All information regarding the transfer process and timing are explained in the detailed letter that each impacted client will receive. 

What should I do before transferring my ING accounts?

Your online banking tools will no longer be available once your accounts have been closed. Therefore, if you have chosen to receive your statements via this tool, please remember to download them before starting the account termination process.

• Download all your statements;
• Download other relevant documents already available in your online banking tools (statement of charges, tax certificate, debit interest certificate, etc.);
• Transfer your recurring transactions to your new bank;
• Retrieve the list of your beneficiaries.

• Fill in the contact form available on www.post.lu/welcome; 
• Reach out by calling 8002 8004, from abroad +352 2424 8004 (07:00 AM – 08:00 PM, Monday to Saturday);
• Take an appointment at one of their branches on www.post.lu/rdv.

You will find all details and conditions on the dedicated offer of POST Luxembourg on www.post.lu/welcome. 

• Please find more information here www.post.lu/welcome.

We understand the impact that changes at ING have on you, and we apologize for this inconvenience. 

As our banking relationship comes to an end, the following information outlines what will happen with your current products: 

• All your accounts and payment cards will be terminated after closing all other products. 
• If you have a rental guarantee, you will soon receive or have received a notice of termination with instructions on the steps to take. If you have any other guarantee, please contact us.
• If you hold a term deposit, it will not be renewed at maturity—even if you previously selected automatic renewal. At maturity, the funds of your term deposit(s) will be transferred to your current account. 
• If you have a securities portfolio, you will soon receive or have received instructions regarding the process for transferring or selling your investments and closing your securities account(s). Please note that any empty securities accounts held with us will be closed in the coming days. 
• If you have overdraft facilities with no defined maturity date, you will soon receive or have received notice of termination with instructions on the next steps to take.
• If you have mortgage(s), leasing and/or other loans with a defined maturity date, please rest assured that we will honour our commitments until their contractual maturity and that your current loan conditions remain unchanged, except for changes in interest rates as foreseen by the loan agreement(s).

Do not worry if you do not hear from us immediately. We will contact you in due course with further details regarding the process.

Once you receive your termination letter, we kindly ask that you initiate the termination process for all products you hold with us, excluding any mortgage, other loans or leasing with a defined maturity date. The letter you will receive contains detailed instructions on how to proceed. 

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 with 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 create a new LuxTrust certificate.

If you hold a bank guarantee, follow the steps included in your letter (See page “Replacement of bank guarantee(s)”) or please contact us. 

Our Contact Center team is available at +352 44 99-0 (Monday to Friday from 08:30AM to 06:00PM).

As part of the termination of our banking relationship, we will also bring our collaboration on your investment products to an end.

• If you have a securities account with us and it is currently empty, it will be automatically closed in the coming days and no additional action is required from your side.
• If you have a securities account with positions, you will need to take action as described below (see instructions to sell or transfer investments in the next pages).  

While your investment and securities accounts remain operational until blocked, as from now we recommend you already start to use other providers when making any new investments.

We kindly encourage you to review your investment situation and take any of the necessary steps described in the letter you received.

In order to transfer the investments currently held in your ING securities account(s), you are required to provide ING with the details of a new securities account opened at another financial institution. This new account will serve as the receiving account for your assets. 

These are the steps to follow: 

• Fill in all the information requested in the ‘Account closure form’ so we can easily transfer your positions. You can also download this ‘Account closure form’ and fill it in digitally.
  
• If you have My ING, send it to us via a secured message or by post to:
  ING Luxembourg SA
  Attn. : Retail Client Services – Life Cycle Management
  26, Place de la Gare
  L-2965 Luxembourg

Once your instructions are received, we will liaise with your new bank to proceed with the transfer of your investments.
If you want to transfer your ING funds (e.g., ING ARIA), please be aware that the receiving bank may not be able to accept these. We invite you to discuss this with your bank.

• You can choose to sell your positions before closing the portfolio, for this reach out to our Contact Center team: +352/44 99 0. Fees will apply as per our official tariffication (ing.lu/tariffs). Please note that ING funds (e.g., ING ARIA) can be sold free of charge.
• Once sold, your proceeds will be transferred to the bank of your choosing. 

Please bear in mind that the sale of your investments may have tax implications. These implications can vary depending on your circumstances. We recommend that you consult a tax advisor to understand any potential tax implications.

For your mortgage(s) and/or other loans with a defined maturity date, including leasing, please rest assured that we will honor our commitments until their contractual maturity and that your current loan conditions remain unchanged, except for changes in interest rates as foreseen by the loan agreement(s). 

Please note that we do not intend to extend, to renew, refinance or increase your loans beyond their currently agreed terms. We thank you in advance for respecting the contractually agreed repayment terms. 

We are committed to supporting you throughout this transition and will provide you with clear guidance and assistance at every step. 

Although affected by our decision to cease our banking relationship, your ING current account(s) used to service your loan(s) will be maintained with specific limitations that will only allow you to continue repaying your loan(s). This account type is called a “loan repayment account”.  

• You will be able to transfer money into this account: 
  • To pay loan instalments.  
  • To allow for early repayment of the loan(s) at any time, subject however to prior notice made to the bank as foreseen in your loan agreement.
• This loan repayment account will not incur any maintenance fees
• You can continue to access My ING as a helpful consultation tool and track where you stand with your lending. In case you do not have access, feel free to reach out to obtain this access via our Contact Center team: +352/44 99 0

• The following services are not available:
  • Withdrawals and deposits.  
  • Card payments (your payment cards will be cancelled). 
  • Outgoing transfers (except for the transfer of any remaining credit balance to another account in your name, indicated to us, before final closure of your ING account(s). 
  • Direct debits. 
  • Standing orders (other than the ones set up to repay your loan). 
  • Any credit facility linked to that account. 
• This account does not generate credit interest
• Please make sure you have sufficient balance for loan instalment payments, otherwise the periodical payment will not be executed
• You will not be able to perform any transactions via any channels including your My ING, My ING Pro or Multiline for ING. 

Please be aware that your Multiline access via ING will no longer be accessible the moment your account has transitioned to a “loan repayment account”

The method of repaying your loans, as well as your IBAN number, remain unchanged. All you need to do is to ensure to have sufficient funds in your loan repayment account(s) to meet your loan repayment obligations.  

To avoid any disruption in your personal finances, we recommend you to: 

• Transfer your recurring transactions to your new bank.  
• Retrieve the list of your beneficiaries:
  Select ‘My beneficiaries’ from the main menu of My ING and then select the ‘Download the list of my beneficiaries’ option. 
• Redirect incoming payments via the relevant organisation (clients, rents…). 
• Redirect outgoing payments (standing orders, future transfers, direct debits, recurring payments via your business credit cards…). 

Before we convert your current account(s) used to service your loans to a “loan repayment account(s)”, you will need to complete the termination of all products held with us (other than your lending products) as per the instructions indicated in the letter. We will let you know, at least 2 months in advance, before changing the current account(s) to a loan repayment account.  

Once your loans have fully been reimbursed, we will close your “loan repayment account”, and we will contact you only if needed. 

This section covers all overdraft facilities you have with us that allow access to funds beyond the available account balance, and do not have a specific repayment maturity date (the “overdraft facilities”). 

As part of the termination of our banking relationship, we will also terminate your overdraft facilities.

We kindly invite you to repay the outstanding balance of your overdraft facilities before the date indicated in your letter. Please note that if your overdraft facilities are not fully reimbursed before this date, the standard debit interest rate of your account(s) will apply to your remaining negative balance (According to the terms and conditions of your Overdraft Facilities contract).

Once your overdraft facilities are fully reimbursed, these will be terminated soon after. 

If you encounter any difficulties reimbursing your overdraft facilities, do not hesitate to call our Contact Center team: +352/44 99 0. 

Since all Business Banking and Lease products and services are being phased out, as from now, we are no longer offering the possibility to subscribe to any new overdraft facilities.

As long as you are still within the notice period (as indicated on the letter you received), your cards should be active.

Please be informed that the account closure will also result in the deactivation of the associated business payment cards. Please inform your cardholders that therefore, they will be directly impacted by this measure. 

For all practical information about reimbursing your Visa account go to Visa account or FAQ-Pay.

Please repay any debit balances on your accounts before the reimbursement deadline indicated in the letter you have received to avoid any late fees.

If you don't want to spend the amount in your Visa account, simply transfer the balance to your current account by using the option "new transfer" available in the main menu of My ING , My ING Pro and/or Multiline.

• As far as the insurance services of your VISA business card is concerned, all payments made with it will remain covered under its terms and conditions (article C.1. of our Visa General Terms and Conditions) even after its cancellation.
• The assistance services 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 have chosen to receive your Visa statements via My ING or My ING Pro, remember to retrieve them before the date of closure of your accounts. 

Please be informed that the account closure will also result in the deactivation of the associated business payment cards. Please inform your cardholders that therefore, they will be directly impacted by this measure. 

• If you have a complaint about ING: contact a counsellor at ING either by telephone at +352 44 990 or by email at complaints@ing.lu.
• If you have a complaint about POST Luxembourg, you will find more information on www.post.lu/welcome

Our Contact Center team is available at +352 44 99-0 (Monday to Friday from 08:30 AM to 06:00 PM) to answer your calls and messages or to take an appointment in one of our branches. More information on ing.lu/branches.

Don’t hesitate to contact us via ING Luxembourg - Business Banking : Contact us