Bank of Amsterdam - Bank Fees

Bank Fees

While this was not its original aim, the Bank of Amsterdam proved profitable to the city which provided for it. In addition to the keeping fee mentioned above, each person, upon first opening an account, paid a fee of ten guilders; and three guilders three stuivers for each additional account. Two stuivers were paid for each transaction, excepting those of less than three hundred guilders, for which six stuivers were paid, in order to discourage the multiplicity of small transactions. A person who neglected to balance his account twice in the year forfeited twenty-five guilders. A person who ordered a transfer for more than was upon his account, was obliged to pay three per cent for the sum overdrawn. The bank made further profit by selling foreign coin and bullion which fell to it by the expiration of receipts, and by selling bank money at five percent agio, and buying it at four percent. These sources of revenue were more than enough to pay for the wages of bank officers, and defraying the expense of management.