Germany people lost confidence in banks, cash at home

Germany people are far away from the Bank, chose to cash in a place they considered safer–safe for household use. This situation is 1xbet that in recent years despite declining interest rates, the Germans will still save some cash in the savings account for a rainy day. In their view, bank accounts safe and easy. Recently, however, many people’s views changed. 82 year old pensioner Uwe Wiese said in an interview with the Wall Street Journal, he recently bought a home safe, to hold the 53,000 euros. “Money in the Bank and they won’t pay you interest, and not only that, but you still have to pay. “

In Germany Hamburg home safe retailer said Thies Hartmann, Managing Director of the Hamburger Stahltresor GmbH: “safe manufacturers operating close to its limit. “He also said, the company’s sales are up 25% since 2014. Manufacturer lead time is lengthened, some manufacturers even working three shifts to production. In order to promote economic growth and encourage lending, the European Central Bank starting in 2014 the use of negative interest rates, charging interest on bank deposits to banks. Germany some banks will pass on negative interest rates of the European Central Bank to large commercial customers, companies and institutional investors, but few appear to charge individual depositors.

But this month, Germany Bavarian Mountains area is a small cooperative bank broke a taboo, fees on deposits begin wealthy clients. According to Reuters, the Bank from September, the current account to more than 100,000 euros a 0.4% storage fee. Such accounts allow savers to withdraw cash. Not only individual depositors, even banks and other financial institutions trying to hold more cash in and of itself. Munich Re said earlier this year, will keep more than 20 million euros in cash in a vault.

Other Germany banks, including the country’s second-largest bank, Germany Commerzbank said it had considered the adoption of the above measures. 1xbet but according to local media reports, when a Switzerland from which pension funds trying to extract large sums of cash, and stored in a vault when the Bank refused to cash. Interface reported previously, diamonds and precious metals for storage and transportation company Malca-Amit, which is located in Singapore’s Vault and safe storage of gold, silver and precious stones, have increased in the past year almost 90%. Popular due to negative interest rates, economic stagnation and political uncertainty, makes the world’s rich investors looking for safe havens.