X
Dear User,
On May 25, 2018, Regulation (EU) 2016/679 of the European Parliament and of the Council of April 27, 2016 (General Data Protection Regulation) came into force. We encourage you to familiarise yourself with information about the processing of personal data on the PolskieRadio.pl website.
1.The Data Administrator is Polish Radio S.A., based at 77/85 Niepodległości Ave., 00-977, Warsaw.
2.On issues regarding your data, please contact the Data Protection Officer, e-mail: iod@polskieradio.pl, tel. 22 645 34 03.
3.Personal data may be processed for marketing purposes based on consent.
4.Personal data may be shared solely for the purpose of proper implementation of services defined in the privacy policy.
5.Personal data will not be transferred outside the European Economic Area or to an international organisation.
6.Personal data will be stored for 5 years after an account is deactivated, in accordance with the law.
7.You have the right to access your personal data, correct it, to have it moved or deleted, or to limit its processing.
8.You have the right to object to further processing, and in the case of voicing consent to the processing of personal data, you have the right to withdraw your consent. The exercise of the right to withdraw consent does not affect any processing that has already taken place.
9.You have the right to lodge a complaint with the supervisory authority.
10.Polish Radio S.A. declares that no automated decisions are made when personal data is processed, and that profiling is not used.
For more information on this subject, please read our personal data and privacy policy.
I UNDERSTAND
English Section

Consumer watchdog warns Polish banks over negative interest rates

16.04.2021 08:00
Poland’s consumer protection authority has warned the country's banks over any plans to impose negative interest rates on private deposits.
Tomasz Chróstny, head of Polands Office of Competition and Consumer Protection (UOKiK).
Tomasz Chróstny, head of Poland’s Office of Competition and Consumer Protection (UOKiK).Photo: PAP/Rafał Guz

The Office of Competition and Consumer Protection (UOKiK) said its head, Tomasz Chróstny, "opposes banks' plans to introduce negative interest rates on deposits of individual customers."

The watchdog added that such moves "could undermine the already strained public confidence in the banking system" and "lead to large-scale withdrawals of savings."

In a letter to 23 banks, Chróstny "has expressed his concerns and demanded clarifications" about any steps "being taken in this matter," according to the uokik.gov.pl website.

Referring to media reports and announcements by the Polish Bank Association (ZBP), the watchdog said that the potential introduction of negative interest rates on deposits would force consumers "to pay the banks for their savings."

"The introduction of negative interest rates on deposits would affect consumers and cause a number of macroeconomic risks," Chróstny was quoted as saying.

He argued that such steps would "force consumers to look for alternative and not always safe ways of investing their money."

"Additionally, if consumers started to withdraw money from banks and decided to keep it at home, the scale of theft and fraud against consumers would most likely increase," Chróstny warned.

(gs/pk)

Source: uokik.gov.pl