Can’t they just put 25 thousand euro in four banks? I don’t understand the big deal. Nobody should put all their money in one bank anyway. I have 3 banks myself and we don’t even have this system.
You’ll probably just pay the fee on all 4 accounts. We don’t know what the threshold is or would be for storing ‘large’ deposits. It could be $5k for instance.
They are not really referring to the guy on the street. Do you know a lot of folks with 125k in cash—-looking for a place to stash it? Probably not.
But companies are in this spot often. They need access to deposit accounts to transact business. Forcing them to move money about between different accounts can be expensive.