Interest Rates

[Andrew]

Thought you guys and gals might find this interesting and amusing.

Finding safe places to hold your money and see it grow anywhere in the world sure ain’t easy!

From the Sovereign Man – [url=http://www.sovereignman.com/trends/everything-thats-wrong-with-banking-summed-up-in-one-bonehead-advertisement-14966]Everything that’s wrong with banking summed up in one bonehead advertisement[/url]

[img]https://www.welovecostarica.com/public/images/ANZ-zero-interest.png[/img]

“If you’re looking around right now for a new bank account that pays a reasonable rate of return, ANZ bank has a hell of a deal for you: 0%!

That’s right. ANZ is offering its depositors absolutely zero interest.

Now, a bank paying 0% isn’t exactly abnormal in today’s banking environment. But what’s really strange is that ANZ actually took out an ad in an Australian newspaper to advertise this.

Yesterday’s page 10 of the Australian Financial Review (AFR) had a quarter-page ad from ANZ boasting about 0% interest rates for accounts denominated in number of foreign currencies, including Hong Kong dollars, Japanese yen, British pounds, and more.

Curiously, in order to qualify for this bargain 0% rate, you have to meet a rather significant deposit minimum.

For the 0% Japanese yen account, for example, you have to deposit 23.5 million yen (currently about $223,000 US dollars).

So basically some manager at ANZ actually thought that paying 0% interest on substantial account minimums would be an attractive offer… so attractive, in fact, that they should brag about it in the newspaper.

This is so completely ridiculous. But it really crystalizes what’s wrong with the entire financial system.”

[davidd]

Banks are a great place to park your money “NOT” 🙂

[johnnyh]

Thanks Scott! Something is definitely wrong in the modern world of banksterism. Why, this alone should raise red flags for those folks that have their heads under the surface. It is a basic fact that the only reason one would have a savings account, is to get some return on your money. Duh, that would be some interest. LOL! Things seem to be improving so much these days, eh?

[barbara ann]

[quote=”Scott”]Thought you guys and gals might find this interesting and amusing.

Finding safe places to hold your money and see it grow anywhere in the world sure ain’t easy!

From the Sovereign Man – [url=http://www.sovereignman.com/trends/everything-thats-wrong-with-banking-summed-up-in-one-bonehead-advertisement-14966]Everything that’s wrong with banking summed up in one bonehead advertisement[/url]

[img]https://www.welovecostarica.com/public/images/ANZ-zero-interest.png[/img]

“If you’re looking around right now for a new bank account that pays a reasonable rate of return, ANZ bank has a hell of a deal for you: 0%!

That’s right. ANZ is offering its depositors absolutely zero interest.

Now, a bank paying 0% isn’t exactly abnormal in today’s banking environment. But what’s really strange is that ANZ actually took out an ad in an Australian newspaper to advertise this.

Yesterday’s page 10 of the Australian Financial Review (AFR) had a quarter-page ad from ANZ boasting about 0% interest rates for accounts denominated in number of foreign currencies, including Hong Kong dollars, Japanese yen, British pounds, and more.

Curiously, in order to qualify for this bargain 0% rate, you have to meet a rather significant deposit minimum.

There are people I know that are using Coopanae. The CD rates on Colones are above 9%, the interest is put in your account to use as it accrues. Safe, don’t know they don’t have FDIC here,. Their literature shows that they are rated very high in the south/central American banks. We just put our colones in cds at Banco Nacional last month at 7% on a 12 month.

[Author]

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