In order to avoid negative interest on savings, smaller entrepreneurs open new accounts with different banks. That’s what it writes FD after a tour of Dutch banks.
Over the past year, the banks have introduced a negative interest rate for people with a certain balance in the account. At most banks, interest must be paid for amounts above 100,000 euros, with some banks the limit is 150,000 euros. For someone with $200,000 in the bank, it could mean paying $500 in interest at the end of the year. To prevent this, entrepreneurs have started spreading their money over different accounts.
ING has received 20 percent more applications for a business account this year than in 2020. According to the bank, 3 percent of new customers aim to spread the money, although the company also says that many customers do not say exactly why. close a new account.
According to de Volksbank, the company behind the SNS and ASN brands, there is a significant group of customers who only want to open a savings account. The waiting time for a new account has increased. Only Rabobank says it does not recognize the trend and only sees a slightly increased interest in opening business accounts.
Stimulate economy
The banks choose to charge negative interest because of the policy of the European Central Bank. It has lowered interest rates in recent years to stimulate the economy, and charges negative interest for banks that deposit money with the central bank.
The banks say they have no choice but to pass on that interest to customers.
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