In Germany, as an existing customer, you have negative rates with many banks. You also don’t switch banks on a whim. Not only because it’s a hassle to change y

In Germany, as an existing customer, you have negative rates with many banks. You also don’t switch banks on a whim. Not only because it’s a hassle to change your payment info on dozens of sites, but also because you’re going to be punished by SCHUFA, a corporate abomination that has a monopoly on credit ratings. Their algorithms try to infer financial responsibility from how many bank accounts you have (fewer is better), and from how often you open new bank accounts (rarely is better). Once it decides to punish you for shopping around, its effects are devastating.