I’d argue Starling is an edge case, as it’s not within the eurozone and is one of the first UK banks to make holding euro as easy as opening a sterling current account.
Interesting you cite an article from a bitcoin publication. That article implicitly draws a link between the ECB’s negative interest rate policy and declining profitability in eurozone banks. The ECB itself draws the conclusion that its policy has a broadly neutral effect on profitability, and is as likely to stimulate as much as dampen it. (As reported by the FT here.)
It’s an interesting debate. However, I’d take argue your source doesn’t back up your claim that ordinary savers in the rest of Europe are being charged to keep their money in the bank…
Your article only says that this is happening in 16 banks (out of 800) in Germany alone, and gives no further examples across the rest of the eurozone, the EU or the rest of Europe. The BBC reports that rates are not generally being passed on to savers, and cites Handelsbanken in Sweden which says this would be “taboo”.
I’d agree, though, that my use of the phrase ‘high-net worth’ was sloppy. I’d intended to mean average savers without large sums on deposit. In the German example above that would be those with less than €100,000, which is still an untypical amount.