Jyske Bank may be starting a snowball effect, now that it has announced a -0,75% interest on accounts with more than $111,100 (750.000DKK). This could be the start of a movement where more banks will join the wagon, and charge their customers for depositing their money. Danske Bank claims that it does not have any plans to do it, which may be due to their damaged image following recent scandals.
As a reaction on the day of Jyske Bank’s announcement, the value of their shares increased by 5%.
Watch this video from Jyske Bank to understand their negative interest rate. (Danish)