AL Sydbank Removes Account Fees

AL Sydbank is removing annual account and debit card fees for all customers. About 100,000 customers will save up to 600 Danish kroner every year. The offer includes a bank account, online banking, and a debit card.

Arbejdernes Landsbank previously offered this deal to its own customers. The bank merged with Vestjysk Bank and Sydbank to form AL Sydbank. Now, the bank is extending the offer to all its customers.

Svend Randers is the director for private customers at AL Sydbank. He stated that the bank is fulfilling its merger promise. The free services apply to both existing and new customers. The bank hopes to attract new clients with this offer. It also hopes customers will stay for long-term financial needs. These needs include buying homes, cars, or saving for retirement.

This change follows earlier fee updates announced during the summer. A Mybanker analysis showed mixed fee changes after the merger. Fees increased for up to 60 percent of bank services. Meanwhile, fees decreased for up to 35 percent of services.

To qualify, customers must set their NemKonto with AL Sydbank. A NemKonto receives payments from Danish public authorities. The bank has not chosen which debit card is included yet. This story was originally reported by the Copenhagen Post.