A defeat that ABN AMRO has suffered for complaints institute Kifid brings a million-dollar claim against the bank closer.
The bank must compensate a customer who feels that he has paid too much interest on a revolving credit.
This ruling reinforces Consumentenbond Claimservice's intention to submit a multi-million dollar claim against the bank on behalf of other customers with a comparable loan.
Kifid, which judges conflicts between customers and their insurer or bank, upheld the ABN AMRO customer.
He took out a revolving credit with a variable interest between 2010 and 2018.
But where the market interest rates that the bank had to pay itself continued to fall, this did not happen with the rates that the customer had to pay on his Flexible Credit.
The complaints committee ruled that customers can expect to pay less interest if market interest rates also fall, unless the bank has stated otherwise in advance.
ABN now has to calculate how much interest the customer has paid too much.
The complainant estimates that it concerns EUR 25,000.
The bank has provided a total of around 80,000 such loans, Consumentenbond Claimservice estimates.
This claims organization affiliated with the Consumers' Association is considering demanding a refund on behalf of these customers.
Kifid's recent ruling makes this case stronger.
Stef Smit, director of Consumentenbond Claimservice, says that he first wants to wait for the bank's response.
ABN AMRO stated that it would first carefully study Kifid's statement and come up with a more detailed response later.
Stichting Geldbelangen, which assisted the customer in this conscious Kifid case, notes that the claims can amount to tens of millions of euros.
French lender Crédit Agricole has been reprimanded over a similar issue and now has to compensate about 70,000 customers.
The company reserved 123 million euros for this.
Consumentenbond Claimservice is also investigating possible cases against Vesting Finance and the Spanish Banco Santander.