Netherlands: Announced statement on Rabobank removing its restrictions for payment institutions after discussions with ACM

On 11 October 2024, the Netherlands Authority for Consumers and Markets (ACM) announced, that Rabobank has removed restrictions on payment institutions' access to its services after discussions with the ACM. In particular, payment institutions, which help retailers offer various payment options and facilitate money transfers, require a business bank account to operate within the European payment system. Rabobank had initially imposed restrictions, such as placing applications on hold and setting high financial requirements, preventing some institutions from accessing services. Following ACM intervention, Rabobank revised its policies, easing access for startups and other payment institutions. This move aligns with the European Payment Services Directive (PSD2), aimed at promoting competition and innovation in the payment market. Finally, the ACM stated, that it will continue to monitor compliance with PSD2 across all banks.