Think Our Savings Rates Are Bad?

[ToraToraTora]

http://www.bbc.com/news/business-30528404

[jennyjoan]

I think I am doing well back in my 123 account. it sure beats the hell of ISAs.

[Gromit]

The rate only applies to accounts of over $10million.

So not going to affect many ABers.

[youngmafbog]

***, I'd better get moving my finds.

Anyone know the best place for my $11m ?

[Old_Geezer]

They aren't the first to try that abuse, of negative interest. It simply means folk will put their money elsewhere (maybe even under their mattress !) Goes to show you simply can't trust the financial industry to play fair. Everyone is out for themselves, and will do whatever they think they can get away with.

[Old_Geezer]

I completely missed the 10m Swiss franc limit. Happens too often these days, must be my age. Still the comment view stands.

[janbee]

Oh no, where can I now invest my £10 million?

[aelmpvw]

i wish i'd got 10 million accruing negative interest of .25%

[atalanta]

It's not abuse, it's not "not playing fair" . The Swiss are desperate to stop money flooding into the country when people just want safe havens. Money flooding in in huge quantities is not good for the Swiss economy, so they are doing what they can to make big investors go elsewhere. After all, they are not keeping these rates a secret, are they ?

[youngmafbog]

The Banks are evil though atlanta, especially on AB!

[mikey4444]

I am not sure how a minus interest rate will work. Can anybody explain this ?

If its going to cost a saver to place money into a bank deposit account, who in their right mind would put it in, in the first place ?

[-Talbot-]

youngmafbog
***, I'd better get moving my finds.

Anyone know the best place for my $11m ?



Do the Swiss do Premium Bonds?

[Old_Geezer]

If they change the rules so it isn't a tax haven that would stop money coming into the country just fine. The obvious answer would be to tax gains made in the country.

However having money available to invest and earn even more money with, and at the same time actually having the gall to charge the folk who lent you it: well abuse is one of the more friendly ways to describe it.