“If you look at savings accounts, the top five with the highest interest rates are only accounts from foreign banks,” Geld.nl’s Amanda Bulthuis says in her explanation. She points out that the Dutch made a lot of savings during the Corona pandemic and foreign banks are an attractive alternative to money. In many Dutch banks, savers now pay negative interest above a certain amount.
deposit guarantee system
According to Geld.nl, saving with banks from another EU country is just as safe as saving with a Dutch bank. “They are also covered by a deposit guarantee system which is comparable to the system in the Netherlands,” says Bolthoys. “All these foreign banks are in good health, but if they go bankrupt, your savings of up to 100,000 euros are protected there as well.”
In 2008, the Icelandic savings bank Icesave went bankrupt, attracting savers with high interest rates. The last Dutch savers had to wait more than seven years for their balances to be paid. This was due to political bargaining and the difficult settlement of the bankruptcy of Landsbanki, the parent company of Icesave.
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