In a complete European banking union, depositing money in a Greek or German current account would be the same thing. The entire region would benefit from better resource allocation and increased risk diversification across states. Competition among banks would increase. Customers may receive more favorable terms than those available at the national level. Today, however, this is not the case: foreign nationals' deposits in the Eurozone do not surpass 1.6% of the total. But it must also be noted that there has been significant growth in recent years. The increase has primarily impacted Italian banks that have received funds from overseas citizens. This has been primarily influenced by the pursuit of higher yields and the increase in rates, as well as the expansion of online banks' product offerings and digitization. According to an ECB research, in August 2024, European families held 151 billion euros in non-domestic bank accounts in the Eurozone, up from 95 billion at the start of 2020, when they accounted for 1.2% of the total. The increase occurred primarily between mid-2022 and September 2023, which coincided with the ECB's 4.5% interest rate hike. This shows that individuals have been looking for better savings opportunities outside of national banks.