Wealth and Asset Management
German Bank Hits Rich Clients With Negative Interest Rates
Customers with over €500,000 on deposit as of November 1 will earn a “negative interest rate” of 0.25%. In other words, instead of earning positive interest, they will have to pay 0.25% per year for banking services. Of course, the initiative received a lot of criticism. Wolf Richter says: “‘Punishment…
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