It comes here next. You’ll have to pay the bank to store your money.
Look at the balance sheet for Capital One. They’ll pay you between .2 and .4% on your CDs, and then lend it to suckers with credit cards paying on average 18%.
“You’ll have to pay the bank to store your money.”
For a long time banks have lost money on most depositors. If you have under 10K in your account it cost more to provide you services than they get from loaning it out.
Banks took this loss in the past as deposit customers turned to them for mortgages, credit cards, and other and things that do make money. It is now much easier to rate shop so those relationships mean less.
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 have to pay the bank to store your money.”
Oh, I’ll just stack it up and sit on it with a shotgun across my lap.
Let’s create/organize the Free Republic Bank!!