I have a savings account with Santander, the "famous" 123 Savings account. This is in Europe btw.
Up until last year, the first €15000 in the account matured an interest of 3%/year.
Then they lowered it to €10000.
Now they've lowered again to €6000.
It seems to me this is a desperate move done because they can't afford to keep paying the interest.
It seems desperate because (to me) it encourages to move my other savings elsewhere, but should I be worried at all? It's still better than most savings accounts, but I can't tell if this is the writing on the wall for something bigger or not.
Any advice appreciated, thanks!
Submitted April 29, 2018 at 07:33AM by Albi-13 https://ift.tt/2r3Hz1R
