- What is a contra account?

Contra account is a Euro-nominated current account held by the account holder individually or jointly at another bank in the Netherlands, provided that the conditions governing that other account, permits transfers from and to that account when an order is given to the Customer Centre. You can register a maximum of two contra accounts. At least one of the account holder(s) of the TEB Ster Savings Account needs to be (jointly) the same as the account holder(s) of the contra account. When joint account holders have subscribed a contra account with different account holders they will both have to provide a first deposit from their own contra accounts.

- How will I withdraw my money?

By sending an e-mail to sparen@tebnv.nl, via telephone number 0800 55 55 055 or by sending your written instructions to our address. Please always mention your TEB Ster Savings Account number.

- Charges

Only for an urgent transfer we charge EUR 8,00. For normal transfers or other services, there are no Charges involved.

- When will I receive interest on my TEB Ster Savings Account?

Quarterly, on the first working day of January, April, July and October.

- How often will I receive a financial statement for my TEB Ster Savings Account?

You will receive a statement at the beginning of every month for the TEB Ster Savings Account if you have made at least one transaction. If you have made no transaction at all, you will receive a financial statement every quarter of a year with the payment of interest in the second week of the new quarter. Of course you can always call our Customer Centre for a confirmation of a deposit or your balance.

- How do I give an order to change my address, etc.?

By your signed mail:
  - changing a contra account
  - closing your savings account
  - changing an account holder

Possible by e-mail:
  - your address
  - your e-mail address

- How do I close my TEB Ster Savings Account?

You can request The Economy Bank N.V. in writing that you want to terminate your TEB Ster Savings Account. The Economy Bank N.V. transfers the balance plus interest to the contra account. In the case of a joint account, both account holders should sign this written request.

- Which interest tariff will I get after terminating a TEB Ster Time Deposit at an early stage?

The interest rate that was applied at the time of the opening of the account will be reduced, in proportion with the period that the account has been opened, one percent (1 per cent) on an annual basis. So if you apply for a TEB STER Deposit for 5 years and you abort the deposit after 3 years, we will calculate the interest as following: If you had opened a deposit for 3 years, you would receive a 3.50 per cent interest rate for example; over this percentage you will get a 1 per cent fine. So the interest becomes 2.50 per cent. The higher past payments of interest will be deducted.

- When do I not have to pay a fine at premature termination?

You do not have to pay a fine if you buy real estate for personal use, when you marry or enter a cohabitation agreement and if you become unfit for work or unemployed. A copy of the document needs to be submitted to The Economy Bank N.V.

- Is my personal data safe and for what is it used?

The personal data given to The Economy Bank N.V. will be processed in compliance with the “Data Protection Act”, 2001. The bank shall not provide the personal data to third parties unless the bank is obliged by legislation, for instance with criminal matters, fight against terror or on request of the tax collectors office.

- I did not get an e-mail reply

Normally we give hour reply within 1 hour, but in any case on the same working day.
In case of a no reply, please contact us by phone.