Why aren't wealthy people in savings banks?
Hello, I once heard that wealthy people tend to avoid the savings bank. Many say that they don't make more money there, but rather less, or that the bank is too expensive, etc.
Even after someone won the lottery, someone wrote in the comments below: "Don't go to the savings bank now."
I also heard, for example, in a lottery interview that people advise going to a new bank that is familiar with large amounts
What is the bank of wealthy people?
Or is the Sparkasse not so bad after all?
(1 votes)
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Above all, people who have been close to finance – whether they are wealthy or not
Well, there’s nothing in the current account anyway. However, savings banks are also known to pay only a small interest rate to the customers at the daytime.
Then they try to turn your financial products to you – whose fees are usually barely competitive. The consultants there should actually rather be called sellers – who also like to have little idea of products and pricing outside their catalogue
Especially at higher amounts, it makes sense to invest these, as one would only be guaranteed up to 100k by law, if the institute should go broke – but one is better to deal with yourself
Usually that’s true.
However, there are not the savings banks, but hundreds of different – each with their own prices and services. Free accounts for each (even under conditions) are more the exception than the standard. If your account costs about 10€ per month and you do not necessarily need the store services, you can also save the money and use it differently.
Sparkassen are okay if you are willing to bear the costs and don’t go blind to the seller
The job of the savings banks is to enable a minimum supply of basic products. In addition, they also have a large clientele to customers who do not otherwise get an account (the “Jedermann account” must be accepted at the latest there)
The Sparkasse does not specialize in investment options and not at all in the wealthy customers.
Bullshit
https://www.haspa.de/de/home/private-banking.html?n=true&stref=hnav
It’s not that flat-rate. But as a rule, the local savings banks can of course offer “wealth management”, as they call the new German, not to the extent and with the expertise as other banks. But even as a small investor, the savings bank is usually not the best starting point due to the high fees.
I’m at Sparkasse from 1500 Euro minimum cash receipt I don’t pay any account fees. Depending on which savings bank you are before I was with other savings banks I paid 8,40 monthly basic fees. I can’t!
I know some millionaires who have split their money into the VR Bank and the Sparkasse branch because they prefer personal advice and do not make online banking.
Because there is no interest at the savings bank and the account management is utopianly expensive. ̄\_(ツ)_/ ̄
Too expensive!