From September to the Raiffeisenbank Gmund rise of 0.4 percent on the Tegernsee for amounts of more than 100,000 euros on the current account or the call money account a “custodial-pay ‘. Paul moved the crotch of his bank with the argument: “. There is a lot of money because”
“After a lot of money in the Tegernsee valley since many her house be paid in cash. that is in our balance sheet, we have far more deposits than loans. This is a structure that you can find on the Tegernsee. “
Josef Paul
in Tegernsee hardly anyone takes out a loan to pay for his house – many enclose cash on the table. And those who then sometimes even far more than 100,000 Euro are on the current account or savings accounts – mainly because they do not know in times of miserable interest, what they should do with their money otherwise
“We are giving. the negative interest only further “
against the term” penalty rate “Josef Paul defends however. Give ultimately the negative rate of the European Central Bank on. Because with money that is on current accounts or money market accounts, banks could not make money. Instead, they would have to park it on deposit at the European Central Bank and for paying even negative interest rates. The Raiffeisenbank Board wants to know the fee from understood as food for thought:
“that’s why we give the next, so that the customer makes on the current account worrying whether this is the right of custody. the method of money is like a parking fee. If you drive into the parking garage, as long as the car is there, costs money . “
Josef Paul
If the bank does not pass on the negative interest rates, says Paul , the bank doing so loss. In principle also finds Sascha Straub of the Consumer Bayern this decision understandable. Therefore retail investors would in any case not to worry:
“For private customers is the only once a kind of taboo, because that was always so touted by the banks that no negative interest to be transferred. In the specific case, it is so that the interest only at a deposit of 100,000 euros will be due, which is an amount which is not an average, which is only affect a relatively small number of customers. “
Verbraucherschuetzer Sascha Straub
Raiffeisenbank Gmund has informed its customers two months ago over her crotch. The reactions are, according to banking, was different: some customers would have wanted competitors and others have reallocated their assets. Of course, will be deducted money, says bank chief Josef Paul. Only, says Paul: if a million is deducted, save the bank around 4,000 euros
search for the right way
Many banks are looking for ways to. to be the low interest rates finished. They provide free checking accounts starting or increasing the fees for account management and credit cards.
penalty interest, as they are there for corporate clients and institutional investors for nearly two years, were among private customers but previously considered taboo.
The banks pay just 0.4 percent this when they park excess deposit overnight at the ECB. The DZ Bank, the central institution of cooperative banks, requires its member institutions for interest.
But an exception?
Only the Skatbank, a cooperative sector for belonging Direktbank from Altenburg, Thuringia had already introduced in 2014 negative interest rates for amounts over half a million euros. The cooperative also alternative bank GLS plans to raise in the fight against the low interest of the customer to a monthly “solidarity contribution”. The Federation of German Cooperative Banks (BVR) does not expect that the example from Bavaria makes school. Also in Gmund is not affected the traditional core business. According to Raiffeisenbank CEO Paul the penalty interest rate has already taken effect.
“Some of the customers that we informed have opted for alternative investments, others have shifted their money to other banks. “
Josef Paul
An extension to less affluent customers is not planned. Raiffeisenbank Gmund has six branches around the Tegernsee and total assets of 145 million euros one of the smaller cooperative banks in Germany. It has a significant deposit overhang, so it can pass on their customers’ deposits only partly in the form of loans.
The Cooperative Federation Bavaria (GVB), which belong to 269 cooperative banks in the Free State , expresses understanding for a member from Tegernsee.
“The extreme monetary policy of the ECB caused at all banks significant cost,” said a spokesman. In the long run, the banks could not carry himself, and searched for a way out. “This may ultimately also belong to adopt a reimbursement of expenses for deposits in the eye.” But the GVB know no bank with such plans. A spokesman for the savings bank association DSGV said it was not known among the 408 financial institutions that demand a custody fee for residential customers.
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