Users Online Now:
1,757
(
Who's On?
)
Visitors Today:
1,079,430
Pageviews Today:
1,804,946
Threads Today:
736
Posts Today:
12,257
06:27 PM
Directory
Adv. Search
Topics
Forum
Back to Forum
Back to Thread
REPLY TO THREAD
Subject
Banks To Charge You For Holding Your Own Money
User Name
Font color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Indigo
Violet
Black
Font:
Default
Verdana
Tahoma
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 3959929:MV8xNjgzMTIwXzI3ODEzNzM2X0Y4OTUyMzFB] But remember the employer holds on to your holiday and sick pay. So if you work there for 5 years and never take a day off, and have minimal holidays. And the employer goes bust. Good luck getting your money. Sometimes governments step in and help people with entitlements. But usually only with companies with over 50 employees. Good luck getting all your entitlements if you work for a small company for 10 years and they go bust. [/quote]
Original Message
Investors are well aware that money markets pay next to nothing in interest these days. Now one bank has announced a policy to actually charge clients a fee to hold their cash. The policy by Bank of New York Mellon Corp. will apply to some large depositors to hold their cash, reports the Wall Street Journal.
In a letter reviewed by WSJ, Mellon advised that it will charge 0.13% plus an additional fee if the one-month Treasury yield dips below zero on depositors that have accounts with an average monthly balance of $50 million “per client relationship.”
“In the past month, we have seen a growing level of deposits on our balance sheet from clients seeking a safe-haven in light of the global interest rate and credit environment,” the bank told the Journal in an emailed statement.
[
link to www.cbsnews.com
]
Pictures (click to insert)
General
Politics
Bananas
People
Potentially Offensive
Emotions
Big Round Smilies
Aliens and Space
Friendship & Love
Textual
Doom
Misc Small Smilies
Religion
Love
Random
View All Categories
|
Next Page >>