We’ve introduced an annual fee of 0.4% to hold large amounts of EUR in your account.
We’ve introduced this fee because interest rates are negative in the Eurozone. This means that it costs us money to hold EUR for our customers.
How much can I hold before I get charged?
Personal customers have a free allowance of 15,000 EUR, while business customers have a free allowance of 70,000 EUR.
Your free allowance includes your EUR balance and any EUR you hold in jars.
How does the fee work?
The fee only applies to any EUR you hold above your free allowance.
If you go over your free allowance, we’ll wait 3 days before we start charging the fee.
After this, we’ll charge you for any days in the month where you hold over your free allowance. We’ll take the fee from your account at the end of each month.
This table shows how much it costs to hold 1000 EUR more than your free allowance over time.
|Time holding 1,000 EUR more than your free allowance||How much it costs you|
|One day||0.01 EUR|
|30 days||0.33 EUR|
|One year||4 EUR|
What if I'm holding money as stocks?
If you hold your EUR balance or jar as stocks, you won't be charged the large amount holding fee.