So the Bank of England have given uk banks 6 months notice to prepare for negative interest rates.
Rates have been near zero for a decade already, anyone with savings in deposit accounts will shortly be paying their bank to hold their money. |
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"I keep all my money under my mattress anyway
Mine's in a biscuit tin. "
You’ll never go to heaven (in a biscuit tin)
Sorry your post reminded me of that silly song we would sing as kids
Oh you’ll never go to heaven in mummas bra, cause mummas bra won’t stretch that far (I ain’t gonna grieve my Lord no more)
Sorry, no really, sorry |
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I believe this won’t be the case for retail banking. You just won’t get any interest on money deposited. If it was the case, the run on the banks from people withdrawing their money would be unprecedented. |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"I believe this won’t be the case for retail banking. You just won’t get any interest on money deposited. If it was the case, the run on the banks from people withdrawing their money would be unprecedented."
Large businesses might pay a small charge for holding large deposits , consumer borrowing / mortgages will drop a little. I use Barclays Premier they are offering me 7 year fix today at 1.32% |
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"I keep all my money under my mattress anyway"
I had a service use who kept £16k in a shoe box. They were in alpha numerical order. He told us he had no money  He also had over £40k in a bank account
J x |
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