It’s time to get rid of no-interest bank accounts. Why should banks use our money and pay no interest?
The first political party to announce deeming accounts will get a huge boost from the electorate. Deeming accounts is where the law says all banks have to pay a minimum “deemed” rate of interest on all accounts.
This stops banks ripping off little old men, little old ladies and uninformed depositors and saves ALL of us wasting time shuffling money between no-interest and other accounts. God knows how many hours we waste on this per year!!