In the era of negative rates nothing makes sense, they pay you interest for asking for a mortgage and you have to pay it yourself for leaving the money to the bank. It sounds absurd, but it is so, spending is encouraged and saving is penalized.
Of the first (that they pay you for your mortgage) we have already been some years with fortunate mortgages who receive interest from the bank but of the second, that they charge you for your savings, the banks were very reluctant because of the bad press that it would generate but finally two banks they have dared to cross that red line.
Surprisingly, the first bank that dared to do so was ING, an entity much loved by its clients and that has always boasted of its zero commissions, in its case it was announced on November 11, although it will not begin to collect them until April 1, 2021 for customers with large deposits. For this, it will charge a commission of € 10 per month to those who have more than € 100,000.
The second and perhaps most popular has been BBVA, which recently announced that it will charge an interest of 0.025% for a percentage on the excess of the limit without commissions (€ 100,000), in this way for those who have € 125,000 they will pay € 6.25 per month and those who have € 150,000 the invoice will be € 12.5.
Both systems are different, some will benefit from ING and others from BBVA, but they are the first two banks that charge money to their savers.
It is a matter of time before the rest of the banks join the feast of the commissions to their savers, being ING and BBVA the ones that are probably the most damaged by their image by being the first to do so. For the rest, much of the way is already done, so grab your wallets …