How ordinary savers can avoid the negative interest bullet
The notion that ordinary savers could be charged to leave their savings in a bank has alarmed many — yet this is exactly what would happen if customers are hit with negative interest rates.
There are growing concerns that personal customers could be hit with negative interest rates later this year. The upcoming withdrawal of Ulster Bank from the Irish market has added to these worries as some believe that the exit will prompt Irish banks to move more generally towards negative interest rates on deposits.
Negative interest rates could be the final straw for savers who have already had to swallow near-zero or zero deposit interest rates in recent years.