Nagelmackers has positioned itself over the last few years more and more as an investment bank for…read morethe privileged. It then started charging premium fees for anything such as monthly fees for bank and savings accounts and any type of interactions and services, even the most basic. However, the level of what Nagelmackers positions as specialized financial, investing services or advice is relatively to the fees they are charging for it and compared to other larger banks not worth it. After having been with Nagelmackers for many years I have finally transitioned to another larger bank with more reasonable fees and without any reduction in the level of personalized financial advisory or investment services. I do not regret the change.

I went there for a mortgage refinancing. The service was good and a lot of different options were…read morepossible (different products from different banks etc.). The objective was to have a complete view on the cost of taking a mortgage (monthly mortgage payments + cost of insurance etc.) and at the end of the day an substantial economy on my mortgage payment.

Giant, ineffective bureaucracy as from the 80's that thrives on the misery of the customer…read more Upon moving to work in Belgium I have made a mistake of opening there an account to receive my meager salary. After receiving my money whey immediately blocked my account so I could not withdraw the funds, effectively leaving me and my family without means for existence. In their office I was told that this was for the reasons of "preventing money laundry" (2000 Euros please!!!) because I could not produce immediately some lousy paper from city municipality as the proof of my address! Even after providing the demanded papers my account still remained blocked. Calling their number made no sense - after 30 minutes of waiting you get some phone parrot on the line that will tell you to come to the office personally because they " cannot verify your identity via the phone" (and that's after correctly responding to security questions). I visited their office many times but to no avail. They just promised to solve the issue "next day". Next day nothing was resolved and you had to call them again and again just to hear another portion of nonsense. This is going on for more than a month with no end to it. Do not trust this bank with your money or do business with it! I doubt they are even solvent. After all it costs a fortune to keep thousands of bureaucratic employees on a payroll and giving generous bonuses to the management. Clear no go. Free advise - stay in cash if you can!