There are many people who, year after year, have been making a little corner, money they have saved and who want to be rewarded for their effort. Unfortunately, Spanish banks are not rewarding these people because the average return on new deposits from Spanish banks is well below the rates offered in other European countries.
Since the European Central Bank (ECB) began raising official interest rates, Spanish banks have not increased the interest offered to Spaniards for their demand deposits. In fact, the remuneration of Spain (0.08%) compared to Europe (0.12%) means that Spanish families stop receiving 370.2 million euros, according to ECB data.
In July 2022, official interest rates in the euro zone rose 300 points, which meant that the ECB deposit rate stood at 2.5%. An interest that Eurozone banks receive for depositing their liquidity in the central bank. But this has not been reflected in our country, because Spanish banks in one year have only increased remuneration by one tenth of the rise in official rates.
As if that were not enough and against all odds, in January the Spanish banks reduced the average remuneration of these deposits to 0.37% compared to 0.42% in December. Something that is surprising if we take into account that European banks raised remuneration to 1.53% (average for the Eurozone).
If this is your case and you want to get a return on your savings, you should know that you have an alternative and Raisin can help you.
In 2012, Raisin was born in Germany with the aim of promoting savings without barriers.
Since then they have created ten digital platforms so that savers from all over Europe can contract deposits and savings accounts in European banks online, free of charge and without having to open current accounts in several banks.
Raisin ensures that savers receive information, documentation and assistance in their language.
Raisin collaborates with 193 entities around the world to offer more than 950 products through its ten platforms. In Spain, they have more than 94 deposit and savings accounts.
It is important to know that in Europe Raisin only works with entities that have a banking license in the European Union. Therefore, these banks are supervised by their own central banks and operate in Spain under a European financial passport. As such, its collaborating banks are registered in the register of entities of the Bank of Spain.
Many people may be reluctant to open a deposit with a German bank or another European country, but they should know that this operation is covered by the Deposit Guarantee Fund and that it has the same protection as the Spanish FGS.
The harmonized standards at the European level have meant that all the Deposit Guarantee Funds have been matched throughout the continent in order to offer the same guarantees to depositors, regardless of the country of origin where the entity has its headquarters.
Thanks to this regulation, the savings of all citizens of the European Union are guaranteed, up to €100,000 per owner and entity in the event of bankruptcy.
