{"id":11476,"date":"2021-06-28T21:00:00","date_gmt":"2021-06-28T19:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=11476"},"modified":"2022-04-01T11:57:33","modified_gmt":"2022-04-01T09:57:33","slug":"banks-not-want-deposits","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/banks-not-want-deposits\/","title":{"rendered":"Why do banks not want deposits?"},"content":{"rendered":"
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Right now, having money in your current account has become a problem: a problem for banks and a problem for bank users. The level of bank fees imposed on money kept in current accounts is disproportionate. They are charging us for having the money deposited and the only way to avoid paying this commission is to invest in one of their financial products: an investment fund, a retirement product… This is happening at most banks across Europe. Will we go back to hiding the money under a tile or the mattress?<\/strong><\/h3>\n

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Why do banks charge for deposits?<\/strong><\/h3>\n

The answer is because negative interest rates are hurting the banks\u2019 income statement. Therefore, having customers deposit their money in the bank generates a cost and no benefit.\u00a0<\/span><\/p>\n

Suppose we deposit \u20ac10,000 into our current account at the bank. The bank has to keep this money and have it available for you at all times. If there are 100 people who all deposit \u20ac10,000, the bank will have \u20ac1,000,000 in its hands. With this amount of money, the bank can do two things: either lend it, or keep it in cash. Lending it carries a risk, <\/span>and keeping it in cash entails a number of costs, either due to the need for high-security storage, or the option of making a deposit with the European Central Bank.<\/span><\/p>\n\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n

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