Government should regulate their asses. Especially considering they got saved with taxpayers money after their 2008 stint.
Banks won’t move by themselves. They might raise their rates slightly with the current pressure, but it won’t be significant.
I would highly recommend switching banks for your savings. A lot of banks offer free savings accounts with higher rates than what you can have at the 4 major banks in Belgium.
If only there was an organisation that has actual Powers to do something and who’s goals it is to help its citizens, sorry, members, we don’t want government interfering offcourse
In 2011 Belgium invested 4 billion EUR of public funds to rescue Belfius.
What is the point of owning a public bank if it does as the others, bleeding people money?
Belfius should provide public service by giving credit with decent conditions, so the rest of the “banking free market” would reduce their evil practices and [their record benefits.](https://www.hbvl.be/cnt/dmf20230314_96108931)
Otherwise, if a private bank goes in bankruptcy, do not bail it with public money.
Fine illustration of where real power resides.
Someone start a panic, so everyone takes back their money from the bank
HOW?
Tell that banks will collapse, access to your money will be limited.
Invest in ETF what you wouldn’t spend the comming 5y
If banks are allowed to adjust new loan offers based on interest rates, then banks should be obligated to adjust their savings rates based on it too. It should be a two way street, not a one way to their benefit. Maybe the minimum legal limit for the savings rate should just be tied to it so it automatically goes up (and down) just like indexing?
I’m no economics expert, but I feel part of the problem is that switching banks is so cumbersome. We’ve already done a lot to make it easier to switch energy contracts, mobile phone plans, and now recently insurances. However, to switch banks, we still need to open a new account, get a new number, redo domiciliëringen and move the money in transactions that take days to process.
If it were easier to simply switch your savings account to a different bank (i.e. by forcing them to take care of this extra work), then competition would increase and banks would be much more likely to offer a competitive savings rate.
Funny statement. He is yelling loud so people are happy with him, and then accurately says why it can’t happen a lot more quiet.
The bank managers will have a laugh.
They are not going to put an end to their source of income.
They are not going to put an end to their source of income. If the saver is not satisfied, that he goes to another bank. All under the motto “don’t be fooled by another, come to us”.
The next time the Governor comes by asking for money, it will be a short meeting.
So take all my savings off the bank ? Dunno the correct course of action now
Despite what’s said here and upvoted most, banks in Belgium are pretty strictly regulated and taxed.
Just do a little search for their year reports, and you’ll notice tax payments with quite a bit of 0’s.
Edit: for clarity’s sake I’m not saying they shouldn’t increase interests for savings. But people put a lot of misinformation here and it’s happily repeated in between rising pitchforks.
Zeker, zodat we -7% ipv -8% pakken… Niemand hoort zijn spaarboekje te gebruiken voor iets anders dan de minimale buffer…
14 comments
Kartel.
Minimize costs, maximize profits, aka corporate greed.
Government should regulate their asses. Especially considering they got saved with taxpayers money after their 2008 stint.
Banks won’t move by themselves. They might raise their rates slightly with the current pressure, but it won’t be significant.
I would highly recommend switching banks for your savings. A lot of banks offer free savings accounts with higher rates than what you can have at the 4 major banks in Belgium.
If only there was an organisation that has actual Powers to do something and who’s goals it is to help its citizens, sorry, members, we don’t want government interfering offcourse
In 2011 Belgium invested 4 billion EUR of public funds to rescue Belfius.
What is the point of owning a public bank if it does as the others, bleeding people money?
Belfius should provide public service by giving credit with decent conditions, so the rest of the “banking free market” would reduce their evil practices and [their record benefits.](https://www.hbvl.be/cnt/dmf20230314_96108931)
Otherwise, if a private bank goes in bankruptcy, do not bail it with public money.
Fine illustration of where real power resides.
Someone start a panic, so everyone takes back their money from the bank
HOW?
Tell that banks will collapse, access to your money will be limited.
Invest in ETF what you wouldn’t spend the comming 5y
If banks are allowed to adjust new loan offers based on interest rates, then banks should be obligated to adjust their savings rates based on it too. It should be a two way street, not a one way to their benefit. Maybe the minimum legal limit for the savings rate should just be tied to it so it automatically goes up (and down) just like indexing?
I’m no economics expert, but I feel part of the problem is that switching banks is so cumbersome. We’ve already done a lot to make it easier to switch energy contracts, mobile phone plans, and now recently insurances. However, to switch banks, we still need to open a new account, get a new number, redo domiciliëringen and move the money in transactions that take days to process.
If it were easier to simply switch your savings account to a different bank (i.e. by forcing them to take care of this extra work), then competition would increase and banks would be much more likely to offer a competitive savings rate.
Funny statement. He is yelling loud so people are happy with him, and then accurately says why it can’t happen a lot more quiet.
The bank managers will have a laugh.
They are not going to put an end to their source of income.
They are not going to put an end to their source of income. If the saver is not satisfied, that he goes to another bank. All under the motto “don’t be fooled by another, come to us”.
The next time the Governor comes by asking for money, it will be a short meeting.
So take all my savings off the bank ? Dunno the correct course of action now
Despite what’s said here and upvoted most, banks in Belgium are pretty strictly regulated and taxed.
Just do a little search for their year reports, and you’ll notice tax payments with quite a bit of 0’s.
Edit: for clarity’s sake I’m not saying they shouldn’t increase interests for savings. But people put a lot of misinformation here and it’s happily repeated in between rising pitchforks.
Zeker, zodat we -7% ipv -8% pakken… Niemand hoort zijn spaarboekje te gebruiken voor iets anders dan de minimale buffer…