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Börse Express – Comparison portal: Trend towards negative interest rates accelerated in corona crisis

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More and more money houses are burdening private customers
Negative interest rates. The trend was still in the Corona crisis
accelerated noticeably once, said Oliver Maier, Managing Director of
Verivox Finanzvergleich GmbH. According to data from the portal currently
80 financial institutions published negative interest rates in their price notices
(Deadline April 8th). 23 institutes led from March 9th
Negative interest rates. These initially apply to new customers. The
clear majority of the institutes spare their private customers
so far, however.

The comparison portal evaluated those published on the Internet
Price notices from around 800 banks and savings banks. In focus
there are overnight money accounts. According to data from the Deutsche Bundesbank
there were 1,717 credit institutions in Germany last year.

For a long time, negative interest rates were primarily based on very high balances
100,000 euros and more charged. Meanwhile, according to Verivox
sometimes savers affected with lower investment amounts. After that
grant at least 15 institutes significantly less than 100,000 euros
Exemption – three of them even charge the negative interest from the first
Euro.

According to consumer advocates, negative interest rates on inventory and
New customers are only permitted if the custody fee is explicitly with the
Customers had been agreed.

Money houses currently have to pay 0.5 percent interest if they have money
park at the European Central Bank (ECB). Even if it
there are now higher allowances, the industry complains about a
Billions. Banks and savings banks give this to corporate customers
Costs have continued for a longer time. / Mar / DP / pc

AXC0038 2020-04-09 / 06: 12

Copyright dpa-AFX Wirtschaftsnachrichten GmbH. All rights reserved. Redistribution, republication or permanent storage without the express prior consent of dpa-AFX is not permitted.

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