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Bank Of America Has A Message For Its European Depositors: “We May Charge You”

Tyler Durden's picture

Because Mario Draghi wasn’t joking about that whole NIRP thing. And yes, negative deposit rates mean just that.

As the letter says, don’t worry: Bank of America has an extensive team of “liquidity and investment management solutions” experts who will gladly advise you to rotate your money out of deposits and into financial stocks, preferably that of BAC itself.

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4 Comments
Econman
Econman
September 16, 2014 3:16 am

& customers should charge banks & politicians also.

With treason.

Time for some bank runs.

Econman
Econman
September 16, 2014 3:19 am

Admin, when U get to $10,199.99 let me know & l’ll throw in the last penny.

I’m feeling generous today.

TE
TE
September 16, 2014 11:53 am

Advance warning of a theft, how modern of them.

I cannot believe people are still trusting these rich assholes with their money. I sure as hell don’t. Everyday I look at my balance I am thankful it hasn’t been stolen – yet.

Fool’s game. Almost impossible to live without a bank account – though it is still being done (for now) – but within the realm of possibility that my money is going to one day be gone without my direction.

Very few good options. Very few. And decreasing in number by the day.

El Comandante
El Comandante
September 24, 2014 9:18 pm

That’s an idea Economan. I recall the old Send a Dime campaigns of old. In conformance with the foolishness of the bucket challenge, I challenge everybody who has a checking or billpay account to send admin a check for 10 cents for an account to be set up for the Save the Rednecks fund. Just to show Billy you don’t really hate the bastard. Of course Admin can administer those funds as he sees fit in any local tavern, pub, dive, strip joint, or the after-hours club on the streets of the 30 blocks of Schlitz.