DBerlin Direct Bank knowledge baseIn fact, it is popular with young and thrifty customers due to its low cost, which reduces the allowance for negative interest rates. A FAZ spokesperson confirmed the report on Thursday. From September 1st, a 0.5% custody fee will be charged for the credit balance of new customers’ current accounts and overnight accounts exceeding 50,000 Euros. Previously, the tax allowance was 100,000 Euros.
Existing customers should no longer be exempt from negative interest rates.In the next few days, the bank will contact customers with particularly high deposits to handle this matter Custody fee agree.
A spokesperson for the bank said that due to the decline in interest rate differentials and the substantial increase in deposits, they felt that they were forced to pass on the negative interest rates of the European Central Bank to customers more.
Recently, Commerzbank and Post Bank reduced the negative interest rate limit to 50,000 euros. Direct bank ING, a major competitor of DKB, announced this step in November.
In an interview with Bloomberg a few days ago, Michael Emrich, chairman of the East German Savings Bank Association, said that he believes the industry trend of calculating custody fees will continue, while reducing the exemption limit. Hans-Peter Burghof, a professor of banking in Stuttgart, even thinks that if banks charge everyone with negative interest without tax incentives, instead of repeatedly turning the toll screw, this may be a more honest solution. Swiss Alternative Bank, once one of the pioneers of negative interest rates, has recently embarked on this path.
According to data from the comparison portal Biallo, 520 institutions in Germany now generate negative interest rates on customers, including 483 banks and savings banks for private customers.
