Stories
Slash Boxes
Comments

SoylentNews is people

posted by martyb on Wednesday July 27 2016, @06:41PM   Printer-friendly
from the go-long-on-mattresses dept.

The RBS banking group has warned 1.3 million customers they could be charged negative interest rates if the Bank of England cuts base rates below zero.

The group, which includes NatWest, wrote to its business and commercial account holders about the potential changes, which mean they could lose money even when they are in credit.

The letter said: "Global interest rates remain at very low levels and in some markets are currently negative.

"Dependent on future market conditions, this could result in us charging on credit balances."

The Bank of England's base rate currently stands at the historically low rate of 0.5%, where it has been for more than seven years - and some economists believe it should be cut further to stimulate the economy.

Source: Sky News

From October 1st, the Dutch bank [ABN Amro] is adjusting its conditions to state that the bank can give negative interest rates to account holders with a business checking or -savings account, ANP reports.

Source: NL Times


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 0) by Anonymous Coward on Thursday July 28 2016, @09:16AM

    by Anonymous Coward on Thursday July 28 2016, @09:16AM (#381114)

    In my world, there would have been a hand out for taxes at each step.