High negative interest rates nibble at savings | These rip-off banks long to be hardest
Foto: picture-alliance/ dpa
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On the one hand, inflation is gnawing at the money of savers – on the other hand, the banks.
501 of the 1,300 financial institutions demand a so-called custody fee for money in the current account from their customers – usually at the rate of 0.5 percent per year.
BUT: Almost 20 financial institutions set the penalty rate higher than the ECB (0.55 to 1.00 percent)!
