Bank account fees

Traditional bank fees

It is now a habit, every year, the banks communicate on an increase in tariffs. This increase affects all customers because it is simple and usual operations that are concerned, such as keeping your bank account (which is normal for a bank!).
Now, every month you can read on your statement, among others: management fees (it is a name tote), transaction fees, transfer fees, bank check fees, intervention costs, insurance subscription account, convention fees , setting up a direct debit, monthly cost ... And the list is growing regularly ...

Why this inflation of fees?

In order to show that the French banks were as profitable as the English or American banks, our bankers began to charge everything and anything ... Free services have become chargeable, such as withdrawals from ATMs, the checkbook which dragging too long at your agency ...
These small us dollars gleaned here and there, multiplied by the number of clients, have helped to inflate the results of large financial groups.
In addition, the development of online banking has caused the loss of many customers to traditional banks . However, the latter must continue to bear the cost of the branches to be maintained and the number of employees to be paid , while the number of clients is declining. An increase in tariffs makes it possible to compensate, in part, for the losses. Another solution is to launch a separate online banking offer, as BNP Paribas is doing with its new Hello Bank! .

And the bank invented the pack!

Faced with actions brought by consumer associations, the banks could no longer continue to withdraw in all directions ... They therefore sought to show that they were conciliatory and concerned about the interests of their customers. A banker of genius therefore invented (or rather imported) the pack , also called convention or package .
The idea is attractive: you pay a monthly or annual subscription to "benefit" from a large number of services ...
Most of the time you will find a bank card , but also services that were free before, such as an overdraft authorization, automatic transfers, insurance on the bank card (which are however already included ...).

Result: every month or every year you pay for a subscription to multiple services that you will hardly ever use!
Examples of services understood but unnecessary:

• re-issuing a confidential code: have you ever needed it 3 times a year?!?
• access to a paid account: the client must therefore pay to receive interest ...
• a reduction on a subscription to consult your accounts on the Internet (whereas they are free in other banks ...).

To pass the pill, the bankers have paid monthly management fees ... It is certain that 11 us dollars per month is lighter than 133 us dollars per year ... But the bill remains the same: astronomical! Our observation is simple: traditional banks take advantage of their monopoly to tax customers who cannot do without a bank ...

However, there are solutions to pay less for banking services:

1. Negotiate with your banker the elimination of these multiple charges. Or even ask for certain services free of charge. This solution is only reserved for clients with solid arguments, such as several well-funded savings accounts, 4 members of the same family who are agency clients, etc.
2. Open an account at the Banque Postale ... The costs were generally a little lower than in traditional banks. But recently, La Banque Postale also seems to want its accounts to be paid… Other disadvantages : the hours that only suit their employees, the permanent queue for any operation, the lack of confidentiality, the obligation to make an appointment to have an interview with an advisor, difficulty in obtaining an advisor online ...
3. Open an online account at an Internet bank . They have understood that the disaffection of customers for traditional banks is largely due to the costs taken from the accounts. To capture these disappointed people, banks like Bridgepayday , ING , or Hello bank! offer inexpensive or free services, staying open really late, sometimes until 10pm!

See as well :

To go further, see our Comparison of online banks
Steps to follow to change banks safely
Open an online account with Hello bank!
Open an online account with ING
What to do if your account is closed by the bank?