Banking systems

[wouter]

the interest on my saving account is 3,25% / yr on my account for daily use I get no interest

3,25% is low, even for the Netherlands. Most banks offer more, especially if you have an internet account. Mine is 4,1%

Also, my daily account gives some interest (0,3% or so, dunno exactely)

OTOH, i do have to pay for my Debit and Credit card. Cash withdrawel from the ATM is free within the EU, but have to pay outside europe.

I might be wrong this is just the number i found somewhere on the site of my bank (rabobank) so it could be outdated. I do have a internet account so it could be higher

[Finn]

Do you need to pay tax for the interest your bank pays you? As far as I know no bank here pays more than 3% for regular savings account, you might get more if you're willing to freeze the money for 2-3 years. Then the government charges 29% tax which the bank deducts automatically. This way the tax office won't know how much each person has money in the bank.

[Finn]

The ones who have a credit card in my bank pays 17,50% p.a.
Another bank charges 19,90%. Is that a lot higher than in the EU?

Well, I think Finnish Visa-company only gives debit cards (charged in the end of next month) which is interest free, only annual fee. If one wants real credit then it somehow goes through your bank, typically "consuming loans" have 5-6% annual interest I believe. I don't have need for real credit on Visa so I don't know if there's any hidden expenses like fixed fee for months when you overspend your debit limit... Also I don't know much about Visa Gold which is more expensive to have.

Now that we're talking about loans, I know one can get mortgage for about 4% = Euribor 12 monts + about 1% for the bank.

[Finn]

3,25% is low, even for the Netherlands. Most banks offer more, especially if you have an internet account. Mine is 4,1%

Hmm... since next July bank transactions within EU, or at least in Euro-zone, will be free. If they'd open internet savings account for a foreigner...

[Sneakster]

The interest rate on my account used to be 4.1 %, but has recently been decreased to 3.5 % earlier this year. Today it is just 3.25 %....

[eurobillsandcoins]

I lived in Austria for a year and I opened an account with Raffeisen in Austria before and I didn't pay a dime. P.S. My bank in Canada charges me more than 200$CAD a month on fees. (E135) Because I am a business client and I deal Foreign Exchange. How about in Europe business fees? I would like to know.

[Olivier]

I lived in Austria for a year and I opened an account with Raffeisen in Austria before and I didn't pay a dime. P.S. My bank in Canada charges me more than 200$CAD a month on fees. (E135) Because I am a business client and I deal Foreign Exchange. How about in Europe business fees? I would like to know.

What is the situation in Hong Kong?

[eurobillsandcoins]

Hong Kong banks used to pay around 4% for a typical Passbook Savings Account from Fortis Bank Asia, Bank of China, HSBC, Standard Chartered, Bank Of East Asia. Then over 2 years they reduced their rates to 0.01% for balances over HK$10,000. Then last year if you did not have HK$5000 in your account, you would be charged HK$40 a month. Everything in Hong Kong is free, regular banking, but an ATM card is HK$50 anually. In their passbooks, you sign your name in invisible ink in the cover, your ID card number is written in invisible ink as well, and the back has a machine readable magnetic stripe. There are these small passbook update units, where you slide the book in, and it updates it for you. It even turns the pages! Chequebooks are also free.

[Olivier]

HK$10,000.

Is it expensive? How much is it in euros?

[eurobillsandcoins]

About 1200€.

[eurobillsandcoins]

My account is with HSBC short for Hongkong and Shanghai Banking Corporation(CCF in France), which I have HK$300,000 in, which only pays 0.1% interest! My Fortis Bank account, has a euro and HK term deposits, they both pay low interest.