DNamely Deutsche Kreditbank AG (knowledge base) Changed its price and service list on November 10, 2021, and imposed a 0.5% annual custody fee on the credit balance of more than 25,000 euros. The bank stated that the custody fee will be applied to all newly opened current and overnight accounts and credit cards from the same day.
What is unusual: just recently, a subsidiary of Bayerische Landesbank lowered the limit to 50,000 euros. In August, it is said that new customers will enter current and overnight currency accounts starting from September 1st Custody fee The balance over 50,000 Euros is 0.5%. Previously, the tax allowance was 100,000 Euros. Existing customers with particularly high deposits should also be contacted to negotiate custody fees with them. A bank spokesperson 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 more of the negative interest rates of the European Central Bank to customers.
Relatively low allowance
“Our announced goal is to reduce customer costs as much as possible. Maren Heiss, head of private customers, said that after careful review, in order to fully cope with the development caused by the long-term low interest rate environment and the negative deposit interest rate of the European Central Bank, it is inevitable to reduce the tax allowance again. The business of DKB. Sascha Dewald, Director of DKB’s Private Client Business: “On the one hand, the demand for demand deposits and overnight accounts has been increasing. This is an excellent vote of confidence in the stability of DKB;
According to data from the Internet portal Biallo, nearly 520 banks and savings banks have calculated negative interest rates on private assets, and there are about 550 institutions in corporate banking. Several larger banks have recently reduced their reserves for negative interest rates to 50,000 euros. The DKB limit is now 25,000 Euros, which is relatively low. But there are also various smaller organizations that have even lower work restrictions and even no tax exemptions. “At least 150 banks limit the total deposit allowance per customer to 50,000 euros or less,” wrote the Internet portal Verivox.
