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Business Insider profiled Berlin startup WeltSparen (or SavingGlobal, its English-language brand), which enables consumers to move savings to other countries. The company's founders decided to build the platform when they observed that interest rates on savings can vary substantially from bank to bank, and country to country.
With a bank in Italy offering nearly twice the interest of a bank in Spain, you'd be crazy to keep your cash savings in Spain. EU law gives consumers the right to open bank accounts wherever they want in the continent, but ever since the crash of Icelandic banks in 2008 people have tended to avoid foreign banks. So SavingGlobal has developed a web site that lets people register once, and then dump their money at any cooperating bank in any country they want, for a fixed term of at least one year. If you're an avid saver this is a dream come true (especially when interest rates begin rising again as the economy strengthens). Why get 1% in Spain when you can get 2% in Italy?
http://www.businessinsider.com/weltsparen--savingglobal-berlins-top-fintech-startup-2015-5
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