▲ 19 ▼ Italy approves 40% windfall tax on banks (www.reuters.com) submitted 3 years ago* (last edited 3 years ago) by mxwarp@lemmy.ca to c/personalfinancecanada@lemmy.ca 4 comments fedilink hide all child comments Italy dealt a surprise blow to its banks and sent shockwaves across the sector in Europe by setting a one-off 40% tax on profits reaped from higher interest rates, after reprimanding lenders for failing to reward deposits.
[–] mxwarp@lemmy.ca [S] 1 point 3 years ago* (1 child) Looks like they finally got the memo! permalink fedilink source parent hideshow 2 child comments replies: [–] deltatux@mstdn.ca 2 points 3 years ago @mxwarp This is just a promo rate, all the Big Banks & their subsidiaries do this. They boost the rate for 3-4 months and then you earn their base crappy rate thereafter. Scotiabank, Tangerine, Simplii & etc. have been doing this for years. The options in the link I provided previously are non-promo rates. Other options incl. fintechs like WealthSimple offer 4.5% if you have $100k deposited or invested with them, or via money market funds or investment savings account which all pay >4%. permalink fedilink source parent
[–] deltatux@mstdn.ca 2 points 3 years ago @mxwarp This is just a promo rate, all the Big Banks & their subsidiaries do this. They boost the rate for 3-4 months and then you earn their base crappy rate thereafter. Scotiabank, Tangerine, Simplii & etc. have been doing this for years. The options in the link I provided previously are non-promo rates. Other options incl. fintechs like WealthSimple offer 4.5% if you have $100k deposited or invested with them, or via money market funds or investment savings account which all pay >4%. permalink fedilink source parent
