Negative Interest Rates

niemeyjt
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Negative Interest Rates

Post by niemeyjt »

It seems that some German Banks have started to implement negative interest on retail customers' accounts rates to the full - starting to charge negative interest on ALL their money (previously there was a minimum of 100K).

https://www.bloomberg.com/news/articles ... all-savers

Will it spread across Germany and beyond . . . to France? Let's face it, most French Banks are thieving bar stewards at the best of times.

(Negative) interesting times!

exile
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Re: Negative Interest Rates

Post by exile »

I have effectively enjoyed negative interest rates on my German savings account for a couple of years. 0% interest plus an annual charge for the account = less in the account year on year.

whyme?
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Re: Negative Interest Rates

Post by whyme? »

The minute I get charged to keep me dosh in any of the banks I use it's all coming out & going in a suitcase under the bed.
Oops! If any tea leaves reading this, ' only joking'. :roll:

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mysty
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Re: Negative Interest Rates

Post by mysty »

why me? wrote:
Thu Dec 05, 2019 5:33 pm
The minute I get charged to keep me dosh in any of the banks I use it's all coming out & going in a suitcase under the bed.
Oops! If any tea leaves reading this, ' only joking'. :roll:
Where are you in France :lol:
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SP1DER
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Re: Negative Interest Rates

Post by SP1DER »

Yeah, I would draw my 9.50€ out as well otherwise I would end up owing them money!

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Tom
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Re: Negative Interest Rates

Post by Tom »

That's on the day that HSBC UK announces that in March they will be charging 39.9% interest on all overdrafts, whether authorized or unauthorized. This follows the FCA stating that banks' charges for unauthorized overdrafts were unfair :twisted: so HSBC responds by overcharging everyone.

Will their credit card interest rates, currently 19.9%, also increase? Seems as if even big banks are now going down the road mapped out by payday lenders. Doesn't matter how good your credit rating is, wallop... 39.9%, take it or leave it.
“He who laughs last didn’t get the joke.”
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Aardvark
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Re: Negative Interest Rates

Post by Aardvark »

The banks have got us by the short & curlies. How could someone get their pension paid apart from via banks? They have arranged things (with the other boys at the top of the food chain) to get themselves into a powerful position and when their greed gets them into trouble the governments bail them out with taxpayers' money.

SP1DER
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Re: Negative Interest Rates

Post by SP1DER »

Just opened 2 savings (me and her) accounts with Credit Agricole. 1% interest tax free (wow).

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FrenchForumSurvivor
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Re: Negative Interest Rates

Post by FrenchForumSurvivor »

Has anyone opened a Nickel account? https://fr.wikipedia.org/wiki/Nickel_(banque)
"I am a man of fixed and unbending principles, the first of which is to be flexible at all times." - Everett Dirksen

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JohnnyD
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Re: Negative Interest Rates

Post by JohnnyD »

FrenchForumSurvivor wrote:
Sat Sep 12, 2020 9:06 pm
Has anyone opened a Nickel account? https://fr.wikipedia.org/wiki/Nickel_(banque)
Someone probably has :D

What are the benifits if any?

JD

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