Robinhood launches 3% checking account

Re:Robinhood launches 3% checking account by novaRom on Thursday December 13, 2018 @10:58AM (#18673237)

Also 3% is astronomical for Euro zone. Here you typically have 0.01-0.1% on saving accounts (only for 100k Euro and below), and negative rate on checking accounts (most people usually pay 7-12 Euro per month for checking accounts and 20-40 Euro per year for Visa card).

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Re:Robinhood launches 3% checking account by hocuspocus on Thursday December 13, 2018 @12:03PM (#18673867)

It's not a fair comparison. Interest rates have bounced back (to some extent) and interchange fees are quite a bit higher in the US.

I haven't checked everywhere in the eurozone but a lot of major banks have online brands/products that are typically free. You should be able to have at least a checking account and a debit card without paying any fees. "Neobanks" are also a lot more developed than in the US: see N26, Revolut, Ferratum, ...

Savings accounts yield nothing, but that has nothing to do with retail banks :) That said, you can find fixed-term deposits between 1 and 2%: https://www.raisin.com/

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Re:Robinhood launches 3% checking account by zeroname on Thursday December 13, 2018 @11:44AM (#18673691)

...which is appropriate when "risk-free" government bonds hover near zero percent.

The US 10-year is on the other hand is near 3%.

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Re:Robinhood launches 3% checking account by nawitus on Thursday December 13, 2018 @05:10PM (#18676595)

You can get around 0.8% in Euro zone, but your local bank is unlikely to offer that.

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