No choice: A file picture showing a Jyske Bank branch in Copenhagen. The bank says it has no choice but to impose negative rates on all private customers with US$110,000 or more. — Reuters
COPENHAGEN: Denmark is about to become a test case for what happens when banks start charging a lot of customers to store their money.
That’s because one of the country’s biggest banking groups just changed the rules of the game, by removing the floodgate that had shielded most retail depositors.
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