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The Last Word With Matt Cooper

Will You Soon Have To Pay Banks To Hold Your Money?

With almost €1 billion going into savings accounts in December, there is a possibility that banks co...
Sarah Stacey
Sarah Stacey

5:11 PM - 3 Feb 2021



Will You Soon Have To Pay Bank...

The Last Word With Matt Cooper

Will You Soon Have To Pay Banks To Hold Your Money?

Sarah Stacey
Sarah Stacey

5:11 PM - 3 Feb 2021

Listen to this episode



With almost €1 billion going into savings accounts in December, there is a possibility that banks could start charging consumers to hold their money.

Credit unions, businesses and pension funds have been paying negative interest rates on deposits for a while, and banks are now facing charges from the European Central Bank to hold money on deposit.

But will this impact personal customers, and if so what are your options?

Charlie Weston, personal finance editor with the Irish Independent, joined us to discuss this.

Will You Soon Have To Pay Banks To Hold Your Money?

00:00:00 / 00:00:00

 


Read more about

Banks Credit Unions Money Negative Interest Rates Personal Finance Savings

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