FAQ Account Closure - Referral agreement with BGL BNP Paribas

ING's impacted clients will receive a dedicated letter explaining this partnership and the special offer they can benefit from at BGL BNP Paribas.

No, you are not obliged to open your account at BGL BNP Paribas, but the special offer is only available with BGL BNP Paribas.

If you are not interested in this partnership, you are requested to start the termination process for all your products held with us except any mortgage and/or other loan you may have with ING (these will require a different process). We have included in the letter you received//will receive relevant information about specific products you may currently hold with us. These product pages offer guidance on the necessary steps to follow.

If you already hold an account at BGL BNP Paribas, you can directly send an e-mail to welcome.ing@bgl.lu. The “Welcome ING” Team will contact you to give you all the instructions for your products transition towards BGL BNP Paribas, and then start the termination process for all your products held with us. Please note that if you have a mortgage and/or other loans with us, this will require a different process.  We have included all relevant information in the letter you received/will receive. 

There are three conditions: 

1. You must be an ING customer.
2. You have received a letter from ING inviting you to take advantage of this offer; If you have lost or cannot find this letter, please don't hesitate to contact us at +352 44 99 1.
3. Open an account with BGL BNP Paribas by following all the steps detailed in the paragraph “Details of the BGL BNP Paribas offer for selected ING Luxembourg clients “ on your letter, before the date mentioned.

If you already hold an account at BGL BNP Paribas, you can directly send an e-mail to welcome.ing@bgl.lu. The “Welcome ING” Team will contact you to give you all the instructions for your products transition towards BGL BNP Paribas, and then start the termination process for all your products held with us except any mortgage and/or other loan you may have with ING (these will require a different process). 

Before the date mentioned in your letter, follow all the steps detailed in the paragraph “Details of the BGL BNP Paribas offer for selected ING Luxembourg clients“.

There are no charges for closing your accounts if the transfer is made in euro to accounts 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.

If you have investments, please refer to the section “Termination of your securities account(s) and/or Invest Plan” in the letter.

If you already hold an account at BGL BNP Paribas, you can directly send an e-mail to welcome.ing@bgl.lu. The “Welcome ING” Team will contact you to give you all the instructions for your products’ transition towards BGL BNP Paribas.

Once your new account is up and running, and once your products held with us are terminated, BGL BNP Paribas will inform ING of your new IBAN. ING will then transfer your remaining positive balance to your new account. This will automatically trigger the start of the termination process with a final closure of your ING accounts within 30 days from the account opening at BGL BNP Paribas. We will take care of the closure of your account and will contact you only if needed.

If you own mortgage and/or other loans with us, please refer to the section “Mortgage(s) and/or other loans with a defined maturity date ” in your letter.

Please note that there is no obligation for you to choose BGL BNP Paribas as your new banking partner. 

If you are not interested in this partnership, you are requested to start the termination process for all your products held with us except any mortgage and/or other loan you may have with ING (these will require a different process). We have included in the letter you received/will receive relevant information about specific products you may currently hold with us. These product pages offer guidance on the necessary steps to follow.

What do you need to do?

1. Terminate your other products held with us by following the steps described in your letter
2. Start your termination process at ING: 
   • Fill in the closure form at the end of your letter or download it here
   • Fill all the information so we can transfer your positions easily 
   • Send it to us either by post or via a secured message through your My ING

In this case, they are not concerned at this stage and no action is required from their side. 

Yes you can benefit from this offer if you open a private account (special conditions apply).

This offer was negotiated with BGL BNP Paribas after the notification you received on the termination of the relationship. Unfortunately, you will not be able to take advantage of this offer.

ING will share your data with BGL BNP Paribas only if you give your consent by signing the "consent" form of the letter you received/will receive, which covers different topics:

1. Data Sharing Consent: BGL BNP Paribas to share with ING a copy of this form as well as your full name, date of birth and your new account references in order to facilitate the transfer of any remaining positive balance as well as any other assets such as transferable securities (the Securities) and closure of all accounts held by you at ING (hereinafter the “Personal Data”). ING and BGL BNP Paribas may as well exchange all other information about you in additional to the Personal Data that would be considered as necessary to process any complaint initiated by you in relation to the opening of your New Account (as defined  below) and/or the transfer of remaining assets and closure of your accounts at ING. This information may contain the purchase price of the securities or other historical price information. 
2. Banking Secrecy: ING to share all relevant information with BGL BNP Paribas and BGL BNP Paribas to share all relevant information with ING as part of the account opening process with BGL BNP Paribas and transfer of the remaining cash and Securities to the New Account (as defined in your letter). 
3. Account Closure: ING to transfer, within 30 days from the BGL BNP Paribas account opening, all your remaining positive balances and remaining transferable Securities of all accounts held by you at ING to the New Account opened at BGL BNP Paribas (the “New Account”) and then close (all) your ING account(s). You note that the processing of the closure of your ING account(s) may take several working days after receipt by BGL BNP Paribas of the consent form, and before the remaining balance and Securities is available on your 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 your ING accounts).  
4. Data Processing: your Personal Data will only be collected and processed for the purposes mentioned above by ING and BGL BNP Paribas in accordance with their respective personal data statements and general terms and conditions applicable to your accounts as well as all applicable data protection laws.   
5. Data about Rental Guarantee (if any): You expressly consent as well ING to share all relevant information with BGL BNP Paribas and BGL BNP Paribas to share all relevant information with ING as part of the account opening process with BGL BNP Paribas to allow the same to issue a new rental guarantee to replace the ING rental guarantee issued at your request and to allow the proper notification of the same to the beneficiary by ING 

Go on the My ING app and download all your account 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.

Retrieve the list of your beneficiaries:

• Select ‘My beneficiaries’ from the main menu 
• Select the ‘Download the list of my beneficiaries’ option.

Follow the steps detailed in your letter in the paragraph “Details of the BGL BNP Paribas offer for selected ING Luxembourg clients“. 

If you only hold a current and savings account with payments cards with ING:

1. Online:
   • Download the .pdf version of your invitation letter on your My ING secured messages
   • Go to https://www.bgl.lu and start your onboarding journey by clicking on “Open an Account”
   • Upload the .pdf file during the account opening process.
   • Sign your account opening process with your LuxTrust credentials, as requested by the BGL BNP Paribas. This will serve as the signature for this letter, and more importantly, for the consent form, which will authorize the steps outlined below to be carried out on your behalf.
      
2. In a branch:
   • Choose a BGL BNP Paribas branch (Kirchberg, Gare, Cloche d’Or, Esch Centre, Dudelange, Differdange, Ettelbruck or Strassen):
   • Schedule an appointment by calling +352 42 42 90 90 (8:30 AM - 06:00PM, from Monday to Friday) or sending an e-mail to welcome.ing@bgl.lu 
   • Bring to your appointment all the pages of your letter.
   • You will then be asked to sign this letter, and more importantly, the consent form, in order to authorize the steps outlined below to be carried out on your behalf.

If you have a negative balance at ING, please make sure to cover as soon as possible, as we will need to proceed with closing your account(s).

Once your new account is up and running, BGL BNP Paribas will inform ING of your new IBAN. ING will then transfer your remaining positive balance on your new account.

This will automatically trigger the start of the termination process with a final closure of your ING accounts within 30 days. We will take care of the closure of your account and will contact you only if needed.

If beyond a current, savings account and payments cards you hold other products (rental guarantee, securities portfolio, Invest Plan or lending):

Contact the “Welcome ING” Team at BGL BNP Paribas. They will help you at every stage of your onboarding journey:

From Monday to Friday, 8:30AM to 06:00PM
Tel: +352 42 42 90 90 
or by
E-mail: welcome.ing@bgl.lu.

To receive the € 100 on your new BGL BNP Paribas account,  you need to create recurrent inflow (salary or other income) of more than 1,500 euro per month for 3 months on your new BGL BNP Paribas account.

For an easy account opening process and special conditions on your products, contact the “Welcome ING” Team at BGL BNP Paribas. They will help you at every stage of your onboarding journey:

From Monday to Friday, 8:30AM to 06:00PM
Tel: +352 42 42 90 90 
or by
E-mail: welcome.ing@bgl.lu.

The regulations require you to destroy the means of payment associated with your former account(s). Once your new payment cards are up and running, take a pair of scissors and cut the cards into several pieces, then throw them into the plastic recycling bin.

• As far as the insurance services 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 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, remember to retrieve them before the date of closure of your accounts.

Your saving accounts at ING will be closed, together with your current accounts and all your assets will be transferred to BGL BNP Paribas or the bank of your choice.

To learn more about interest rates at BGL BNP Paribas you can visit https://www.bgl.lu/ or call +352 42 42 90 90.

If you hold a Junior Savings, please contact us. 

Our Contact Center team is available at +352 44 99 1 (Monday to Friday from 08:30AM to 06:00PM).

Once your account has been opened in BGL BNP Paribas, BGL BNP Paribas makes available free of charge a banking mobility service. The IBAN of your ING External recurrent transfers and payments will be automatically updated to BGL BNP Paribas.

All information about this service can be found on your Client's Web Banking at BGL BNP Paribas’ website.

Before your account is closed, we recommend you download the digitally available documents such as your account statements, transaction history, reporting regarding your portfolio, and tax certificates via My ING. 

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 to create a new LuxTrust certificate.

If you hold a rental guarantee, follow the steps includedin the letter you received/will receive (See page “Replacement of your rental guarantee at BGL BNP Paribas”) or please contact us. 

Our Contact Center team is available at +352 44 99 1 (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. We understand that this message may come as an inconvenience and we want to assure you that it has been considered with great care. We are committed to supporting you throughout this transition and will provide you with clear guidance and assistance at every step.    

What will happen?

• If you have an Invest Plan, your standing orders will be suspended in 2 months from the date of the letter you received/will receive. 
• If you have a securities account with us and it is currently empty, it will be automatically closed in the days after you have received the letter inviting you to transition your accounts to another bank, and no additional action is required from your side.
• If you have a securities account with us with positions, you will need to take action as described in the pages of the letter you received/will receive. 
• 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 your letter to avoid disruption (See page “Termination of your securities account(s) and/or Invest Plan”).

How should you proceed now?

Follow the steps included in your letter (See page “Termination of your securities account(s) and/or Invest Plan”) whether you want to benefit from the BGL BNP Paribas offer or not:

1. Suspend your Invest Plan (if any) and manage your positions.
2. Transfer or sell your positions

As part of the termination of our banking relationship, we will bring our collaboration for all your products to an end. We understand that this message may come as a disappointment, and we want to assure you that this decision was made after careful consideration. 

For your mortgage(s) and/or other loans with a defined maturity date, 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).

We would also like to inform you that it is not our intention to extend your mortgage(s) and/or other loans beyond their currently agreed lifetime, or to renew, refinance or increase them. 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 in the letter you received/will receive (See page “Mortgage(s) and/or other loans with a defined maturity date”).

Your ING current account(s) used to service your loan(s) will be maintained with specific limitations to only enable you to continue repaying your loan(s) through it/them. This is called a 'Credit Repayment Account', which is governed by those general terms and conditions.

• You will be able to transfer money into this account: 
  • To pay your loan instalments  
  • To allow for early repayment of your loan(s) at any time, subject however to prior notice made to the bank as foreseen in your loan agreement. 
• This 'Credit 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. 
• You still will be able to download your statements and tax certificates via your My ING.

• 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 before final closure to another account in your name, indicated to us) 
  • 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. 

We inform you that, contrary to what may be stipulated in your loan agreement, we waive, as from the date of the letter you received/will receive any obligation to receive in your ING account(s) your income and any rental payments. 

The 'Credit Repayment Account' is governed by the General Terms and Conditions of this product available here.

To avoid any disruption in your personal finances, don’t forget to act for activities linked to your current account:

• Transfer your recurring 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 doing it on your own.
• 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
  (salary/ADEM/Pension, Rents received, CNS – repayment…).
• Redirect outgoing payments
  (standing orders, future transfers, direct debits, recurring payments via your credit cards…).

When will the limitations of your Credit Repayment Account(s) be operational? 

Before we convert your current account(s) used to service your loans to a 'Credit Repayment Account(s)', you will need to complete the termination of all products held with us as per the instructions in the letter you received/will receive. We will inform you once the conversion of your current account(s) to a Credit Repayment Account has been completed.

Once your loans have fully been reimbursed, we will close your 'Credit Repayment Account', and we will contact you only if needed to terminate our banking relationship with you.

• If you have a complaint about ING : contact a counsellor at ING either by telephone at +352 44 99 1 or by email at complaints@ing.lu .
• If you have a complaint about BGL BNP Paribas : contact a counsellor either by telephone at +352 42 42 90 90 or by email at welcome.ing@bgl.lu .

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:

• This dedicated webpage with key information and frequently asked questions is at your disposal. 

• Our Contact Center team is available at +352 44 99 1 (Monday to Friday from 08:30AM to 06:00PM) to answer your calls and messages or to take an appointment in one of our branches. More information here.