Avoid penalty interest on bank deposits?

  • Erstellt am 2020-09-25 10:42:56

matte

2020-09-25 10:42:56
  • #1
Hello everyone,

even though this doesn’t really fit here:

My mother-in-law was contacted by her Sparkasse that in the near future bank balances over €200k, later then over €100k, will be subject to a negative interest rate. Since this affects her, she is now going a bit crazy and is wondering how she could prevent this.

Am I right in my assumption that this is evaluated differently from bank to bank, with one charging the negative interest and the next not, and so on?

My suggestion would have been to simply work with additional accounts at other banks in order to avoid this problem.

Before the question arises why so much money is lying in the account: The money mostly comes from the sale of a property and it has not yet been decided what to do with it.

Thanks! Regards
 

Octrineddy

2020-09-25 10:46:19
  • #2
That solves the problem relatively quickly, but depending on the account management fee, it is a bad deal.
 

nordanney

2020-09-25 10:46:41
  • #3
Easiest option: spend money Yes, but eventually all banks will pass on the penalty interest. Sometimes starting at €100k or €200k (very rare), but sometimes only from higher amounts. That’s also one way to solve it. To be honest, if the money will be reinvested in the near future, I wouldn’t bother with the hassle of different banks.
 

Tolentino

2020-09-25 10:49:33
  • #4
I am making my account available as a parking opportunity for the amount over 100 TEUR at half the penalty interest!
 

matte

2020-09-25 10:51:55
  • #5
All right, thanks to you! I'll pass it on as is.
 

Muc1985

2020-09-25 11:14:54
  • #6
ING and DKB currently have no negative interest for new customers. Otherwise, I also see it as "unfortunately" working with more accounts. Investing in securities / stocks / ETFs etc.!
 

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