UniCredit will be charging its customers to pay interest on their savings next year, but the policy will only apply to clients with more than €1m in the bank. That’s considerably more than in previous reports, which warned that anyone with just €100,000 in the Italian bank would take an automatic hit on their savings. But it’s a clear signal that holding cash in the current economic environment has literally become a luxury that few can afford. The online portal Novinky says that the bank’s Czech branch still refuses to reveal whether their customers will be treated the same way, but notes that domestic banks in general are in a different position, offering up to 2 percent on savings accounts.
