Hello everybody. i'm not dutch, that's why i write in english. I just got a message i can't believe. Can anybody confirm this?
„Dutch government/banks getting crazy and like to ban the cash money.
0,5% for storing money on bank and Withdrawal in cash, 0,75% transaction fee.“
If that's the truth, wouldn't that be a major change?
The negative interest rates have nothing to do with a (possible) ban on cash. Banks are forced to store their money at the ECB, for which the banks are paying a negative interest rate. TLDR; Banks have to pay the ECB for storing money, so they're charging customers that are storing €100K+ to cover those costs.
The first message has nothing to do with interest rates, but for storing cash / withdrawal cash.
When you have a business you have pay for both storing cash and withdrawal cash.
When you are a person this normally is free (sometimes only a few times per year)
But this is the case for many years now.
Storing cash = savings account. You can't physically store cash at a bank, unless he means storing it in a safety deposit box.