Bank Account Blocked in Malta
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If you have the documents then TW should be no problem. Remember TW is a money exchange company. You bring NO I repeat NO value to them parking money there. With negative ECB rates i.e -0.5% you would in fact be costing TW money which they cannot offset by fees alone....lol. So they will be eager to get rid︀ of you even with clean money. It is purely a financial decision they will make︁ at some point to offload you or start charging clients with large balances negative interest︂ rates. I don't think their low margin business can absorb negative interest rates forever sadly︃ not even my bank UBS in Switzerland could for negative CHF 🙁.
There is nowhere trustworthy and reliable to do so. That is by design from the ECB with its implementation of negative interest rates. They are pushing you to avoid saving and parking money in banks. They need you to spend and invest that money to keep money flowing and eurozone economy from falling apart.
About costs of keeping money in the accounts, is that ECB forcing institutes to propagate (or pay) the negative interests? Or else why do these institutes have to pay such negtive interests on money owned by end customers and not by ECB?
The other thing is TW, that is based in UK, isn't it? So technically shouldn't it be subject to regulations from BOE, not ECB?
The other thing is TW, that is based in UK, isn't it? So technically shouldn't it be subject to regulations from BOE, not ECB?
ECB has enacted negative interest. Some banks/institutions pass it on to customers directly, others make up for it with transaction fees.
All EUR is under ECB's jurisdiction. A British bank holding EUR holds that EUR with the ECB (or with a correspondent bank which︀ in turns holds it with ECB).
Just like all USD is under Federal Reserve's jurisdiction︁ and GBP is under BOE's jurisdiction. And CHF under SNB.
All EUR is under ECB's jurisdiction. A British bank holding EUR holds that EUR with the ECB (or with a correspondent bank which︀ in turns holds it with ECB).
Just like all USD is under Federal Reserve's jurisdiction︁ and GBP is under BOE's jurisdiction. And CHF under SNB.
Stay in cash on account and forget investing.
Again the ECB enacted negative rates to force people out of cash and into more riskier investments such as equities and to keep spending etc. Hopefully you can see their policy is actually working as you have nowhere to safely park cash right now - your post above is living proof of this 😉. It used to be MM Funds and AAA treasury bonds i.e German or Dutch bonds where you could park your money safe and get a little interest. However they︀ have made sure they closed that loophole by driving the entire yield curves negative out︁ to almost 30 year bonds....lol.
Again the ECB enacted negative rates to force people out of cash and into more riskier investments such as equities and to keep spending etc. Hopefully you can see their policy is actually working as you have nowhere to safely park cash right now - your post above is living proof of this 😉. It used to be MM Funds and AAA treasury bonds i.e German or Dutch bonds where you could park your money safe and get a little interest. However they︀ have made sure they closed that loophole by driving the entire yield curves negative out︁ to almost 30 year bonds....lol.
Everything has risk. Bonds and gold would have the lowest risk in this economic climate. Or you can put cash in a box and bury it somewhere.
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