Mecklenburg-Western Pomerania: Sparkasse Vorpommern cancels penalty interest

Greifswald (dpa / mv) - In the future, the Sparkasse in Western Pomerania will no longer charge penalty interest for high credit balances from its customers.

Mecklenburg-Western Pomerania: Sparkasse Vorpommern cancels penalty interest

Greifswald (dpa / mv) - In the future, the Sparkasse in Western Pomerania will no longer charge penalty interest for high credit balances from its customers. So far, around 15,000 of the 250,000 customers have been charged negative interest of 0.5 percent, Sparkasse Vorpommern announced on Thursday in Greifswald. After the decision of the European Central Bank (ECB) to raise its key interest rate by 0.5 percentage points, this so-called custody fee will no longer apply.

The customers were promised that the penalty interest rate would also be eliminated when the negative interest rates at the ECB came to an end. "We're happy to keep this promise. It's a matter of fairness," said Thomas Metzke, board member of Sparkasse Vorpommern.

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