Just bring the piggy back to the savings bank – that was in the past. This year, on World Savings Day, a wide variety of things were protested. Some examples.

Breaks in the piggy bank

AEvery year, savings banks and banks call for World Savings Day at the end of October. A fun day on which the children with shining eyes bring their piggy banks and money boxes to emptying at the bank counter and in return receive colorful balloons, pens and comic books. And even the adults like to remember on this day very nostalgically how important saving actually is for an exemplary way of life, true to the old motto “Save time, then you have an emergency.”

This year, however, it shouldn’t be quite as idyllic: At least there has been a lot of talk of protest in the past few days. It was completely different, against whom, for what and why one should actually protest. But it actually seems as if the world of savers could face a World Savings Day of protests this time.

Demonstrate against each other

Most notable was undoubtedly the call by the highly reputable financial regulator Bafin to protest against low interest rates. It was by no means aimed at dissatisfied small savers from Germany who had secretly thought for a long time that one should actually take to the streets with banners and chants against the blatant lack of interest on the savings account.

No, a Bafin executive director was quoted on Tuesday from a meeting of the authorities in Bonn that German insurers should no longer put up with the low interest rates. Many a saver would probably like to join. But if it is true, what economists never tire of repeating, namely that low interest rates were not invented by the European Central Bank, but are related to an excess of savings in the capital market, which is one of the consequences of saving for old age in aging societies If you want to express your protest against low interest rates, then you naturally ask yourself against whom you could reasonably demonstrate.

That is not trivial. Perhaps savers, if they think about it carefully and to the end, would have to demonstrate that they no longer save as much – so that the supply of savings shrinks and the interest rate turns out to be higher again.

Bank robbery to do (me) good

The umbrella organization of critical shareholders and an organization called “Urgewalt”, on the other hand, have completely different ideas about protests on World Savings Day. They called for a protest on World Savings Day against the involvement of savings banks in coal and armaments companies. To do this, they recommend such different steps as withdrawing money from savings banks in protest, drinking so-called blood cocktails (hopefully not literally) and handing out leaflets in protest.

There was also a call for protests from the fintech scene on World Savings Day, as it were against the conventional banking world and its methods. The financial start-up Tomorrow from Berlin, a provider of a digital current account, is calling for this. It suggests simply reversing World Savings Day. The method immediately sounds a bit more radical than blood cocktails or protest notes to the European Central Bank: The fintech called for bank robberies – and distributes photos of people with rainbow-colored balaclavas over their faces on the Internet, accompanied by the motto: “Rob your money and change the world. “

As wild as that sounds, the company does not want to call for people to accept a jail sentence for their idealism, but rather calls the proposed route “bank robbery for good”: People should simply get their money at the ATMs of a conventional bank on World Savings Day take off and then bring it to them – a suggestion that can certainly be understood from a fintech point of view from a marketing point of view. The appeal is justified, among other things, with the high salaries in banks, their lobbying work – and the unsightly trade in sensitive financial products.