6 DAYS AGO • 6 MIN READ
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Court Ruling: Savings account balances cannot be reduced by fees During the low interest rate phase between 2016 and 2022, banks charged their customers custody fees for deposits in daily money, (Tagesgeldkonto) and savings accounts (Sparkonto). The Federal Court of Justice (BGH) has declared the so-called negative interest rates are invalid, The savings and daily money accounts may not be reduced by fees as it contradicts with the purpose of these accounts, i.e., saving money. NOTE: Banks...
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