Saving money at a bank hasn’t been that popular among consumers. Apart from the fact that many alternatives for saving money have become available, yields on savings at the local bank don’t seem appealing to consumers anymore.
It could very well be that a foreign bank offers a savings account with a better interest rate. Most banks limit the availability of savings accounts to inhabitants of that country. Even within the European single market -that seeks to guarantee the free movement of people, goods, services and capital- it often proves difficult to open a foreign savings account.Read More