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Instead, banks returned the money to the European Central Bank for safekeeping, even though it did not pay interest on the deposits.
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Consider, in particular, the case of Japan's quantitative easing in the early 2000s: Unlike the Fed, the Bank of Japan didn't pay interest on reserves.
I don't want to go back to the days when checking accounts didn't pay interest and you couldn't withdraw cash on weekends.
Because gold does not pay interest it loses its shine compared with other assets that do.
That bank now tells me that it does not pay interest on mortgage escrow accounts.
However, the 1st Account does not pay interest on credit balances.
Kenya's central bank tolerates it, as long as M-PESA does not pay interest or invest the float.
The bank's current account does not pay interest to customers who are in credit and has no overdraft facility.
They do not pay interest on the money they have created, but they earn interest on the bonds they have bought.
Although for regulatory reasons M-PESA accounts do not pay interest, the service is used by some people as a savings account.
Gold does not pay interest, unlike dividend stocks, bonds and cash, so you do not benefit from compound growth over time," he says.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com