Before Commerzbank unceremoniously canceled my account after more than a decade of business, they were charging me “negative interest” for quite a while, on anything over 50K EUR. That’s in addition to account fees.
My current banks in the EU? One charges up to 1% percent per transaction and yes, that includes going to the bank to make a withdrawal. Another charges 40€ per month for a basic savings account. A third will probably kick me out soon, because I’m not an EU citizen.
My first guess would be that Europeans have a perception that their banks are exploiting them, and given any other rational option they will try it out.
My current banks in the EU? One charges up to 1% percent per transaction and yes, that includes going to the bank to make a withdrawal. Another charges 40€ per month for a basic savings account. A third will probably kick me out soon, because I’m not an EU citizen.
My first guess would be that Europeans have a perception that their banks are exploiting them, and given any other rational option they will try it out.