Regarding the current topic of negative interest rates, we at Penta are bound to our partner Solarisbank AG.
SolarisBank AG has been charging a deposit fee on customer deposits since November 01, 2020.
Specifically, this means the introduction of a deposit fee on the amount of money held in each of your business accounts that you have opened with Solarisbank AG through Penta.
Important: This deposit fee currently only applies to deposits whose total amount exceeds the exemption amount of €100.000,00 and explicitly applies to the account balance on the main account including all subaccounts. For customers who have several accounts for different companies, the €100,000.00 limit applies per company.
Solarisbank AG thus joins dozens of other German banks that charge for deposits to cover the costs they themselves pay to the Bundesbank each year.
The deposit fee is currently 0.5% per annum on deposits exceeding the allowance of €100,000.00. If the exempt amount is exceeded, deposit fee is not paid on the entire balance, but only on the portion of the balance exceeding the exempt amount.
Should the interest rate be changed by the Bundesbank, Solarisbank AG reserves the right to adjust the deposit fee accordingly. This includes an increase but also a decrease of the deposit fee.
Solarisbank AG calculates the deposit fee on a quarterly basis based on the number of days on which the total of your account balances exceeds the €100,000.00 limit and automatically deducts the amount from your account. The amount will be displayed in your transactions and account statements.