Some European Banks Charge Negative Personal Deposit Rates

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4,754
UBS, Credit Suisse and a few other European banks have started charging negative rates on large personal deposits.

UBS will charge -0.60% on personal deposits over 500,000 EUR.

Credit Suisse will charge -0.40% on personal deposits over 1,000,000 EUR.

Some German banks charge negative rates on personal deposits over 2,000,000 EUR.

Irish banks charge negative rates on corporate deposits. Are negative rates on large personal deposits coming to Ireland too?
 

Duke of Marmalade

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2,366
Are these euro deposits or Swiss Franc deposits?
I suppose even €500k is not a reasonable proposition for under the mattress so if you have to deposit it with a bank the relative creditworthiness might justify putting up with negative rates.
 

Marc

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1,042
We have incurred a negative -0.4% for retail client Euro deposits with Royal Bank Canada for years.
 

noproblem

Frequent Poster
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1,710
If this continues and peoples savings are going to cost them to bank it may encourage people to actually hoard money in their homes or safe places. People can then do what they want with their cash and incur no charges, taxes, etc, when applying for grants or similar that are subject to means testing, giving cash to relations, friends, etc, tax avoidance will rear its head again as will robberies and all the rest. When one looks at the so called developed world today you'd begin to wonder at where it's all going.
 
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