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This is not terribly uncommon in Europe; let alone Denmark. As with the other banks in Denmark doing the very same thing, Danske Bank is merely passing their ow
by x775 5y ago
This is not terribly uncommon in Europe; let alone Denmark. As with the other banks in Denmark doing the very same thing, Danske Bank is merely passing their own expenses onto their customers [0]. There is probably a discussion to be had about where the specific thresholds should be in terms of both stimulating the economy through encouraged spending versus ensuring people save an adequate amount.
[0] https://www.nationalbanken.dk/en/marketinfo/official_interestrates/Pages/default.aspx https://www.nationalbanken.dk/en/marketinfo/official_interes...
- nawitus 5y agoWhat other banks do this in Europe (outside of Denmark)?
- cr1895 5y agoMajor banks in the Netherlands do.
- Svip 5y agoI know it is also happening in Switzerland.[0][1] [0] https://www.moneyland.ch/en/swiss-banks-with-negative-interest-rates https://www.moneyland.ch/en/swiss-banks-with-negative-intere... [1] https://www.swissinfo.ch/eng/business/swiss-national-bank_who-wins-and-who-loses-from-negative-interest-rates-/45573032 https://www.swissinfo.ch/eng/business/swiss-national-bank_wh...
- deleted 5y ago[deleted]
- tom_mellior 5y agoIn Austria the Supreme Court of Justice (OGH) specifically ruled that banks aren't allowed to do it. At least for private people's savings accounts. Banks are pretty happy to raise various service fees though, so I guess they'll get creative about getting their money back.
- chefkoch 5y agoSome german banks do it also.
- Denvercoder9 5y agoAbout every bank in the Netherlands, though it usually starts at either €100K or €250K, so that's a bit higher limit than this Danish bank. I don't think this policy is actually a problem for many people here. Most people above that limit either invest it, put it into a "savings deposit" (you agree to not touch the money for some pre-definied time and in exchange you get better, positive interest rates), or spread it out across multiple banks (since savings accounts are usually free, but only guaranteed up to €100K when the bank fails).
- kwere 5y agoin italy fineco bank decided to enable itself to kick out clients with more of 100k in checkings accounts because by law they cant charge negative interest rates. Other italian banks will probably follow