Every sixth bank customer should pay negative interest

According to a survey, negative interest rates are becoming a mass phenomenon. Remarkable: Fewer and fewer people believe that they can avoid the costs of cash withdrawals or bank bills.

More and more negative interest rates: EC cards with trademarks from Postbank, Commerzbank, Sparkassen and Volksbanken

IMore and more bank customers are advised by their bank to sign an agreement on a custody fee – at the same time, acceptance for this in the population is apparently decreasing. This is the result of a study that the consultancy Investors Marketing carried out and that the FAZ has received in advance. In the survey, 16.8 percent of those questioned said that they either already paid negative interest, or that their bank had at least advised them to do so. So that’s about every sixth bank customer. Most recently, Commerzbank and Postbank, among others, tightened their negative interest rate regulations.

At least 1.9 percent said that they had already paid a “custody fee”, a “deposit fee” or “negative interest” for their savings to their bank. Another 14.9 percent stated that the bank had already approached them with this issue, but they have not yet paid. Another 30 percent expect this to happen in the next six months.

Many apparently submit

What has apparently changed over time is how bank customers react to the announcement of negative interest rates. Two years ago, 36 percent said they would simply withdraw their money in cash, now it is only 26 percent. Maybe this has to do with the fact that this case has now become more likely and that some people find the cash thing a little scary.

Two years ago, 52 percent announced that they would change banks if negative interest rates were introduced. Now it was only 45 percent. The hope of being able to avoid negative interest rates in the long run by switching banks may decrease.

In any case, more bank customers now than in the past are saying they are ready to buy securities in response to the introduction of negative interest rates. This proportion has roughly doubled to 40 percent. There were differences depending on age: more than 50 percent of those surveyed between 18 and 29 years of age said they would be willing to commit to securities in this case. This value was significantly lower in the other age groups. The number of bank customers who want to invest part of their money in real assets such as real estate, gold and art has also risen – that is now almost 38 percent. 13.3 percent want to spend the money on high-quality consumer goods such as cars. Only 7.8 percent wanted insurance products as an alternative to bank deposits.

The acceptance of negative interest rates has decreased: The agreement to the statement “I find it understandable that banks and savings banks pass on negative interest rates to private customers” fell from 67.5 to 59.8 percent. The implementation of negative interest rates is unlikely to be widely accepted by the general public in the next twelve months, said Oliver Mihm, Head of Investors Marketing. For the banks, it is important to consistently address all customers about saving in securities.