The government therefore takes measures to limit the riskssector by sector… The banks now put themselves at the service of the French.
the purchasing power of the French has seen better days. In August, the inflation rate reached 5.8%, according to INSEE. This price increase many everyday consumer products, like meathas a significant impact on the household budget.
Laurent Mignon, CEO of BPCE and President of the French Banking Federationdeclared recently, during a meeting in Bercy with the Minister of the Economy Bruno Le Maire: The entire banking profession has decided on a policy of strong moderation of its tariffs. We tell you all about it bank fee shield !
La Banque Postale fights for the purchasing power of the French
One of the most widespread banks in France, the postal bankannounced the freezing of all his bank charges for individuals this Thursday, September 15. It’s the same for BNP ParibasCrédit Coopératif and LCL (Credit Agricole group).
These different commitments go beyond the gesture made by the sector. In effect, many banks have decided to limit the increase in bank charges to 2% next year. An energy shield to fight for purchasing power, but for the banks.
To get this joint decisionit took long hours of frank negotiations and sometimes difficult. And this, according to the Minister of the Economy, Bruno le Maire.
This Tuesday, bank commitment was announced as a shield from bank charges. Echoing the energy shield. A measurement set up by the government to limit, for the French, the effects of inflation. Effects measured at 5.9% over one year in August.
Bank charges capped at 2%.
Thus, Tuesday, September 13, the Minister of the Economy Bruno Le Maire joined the representatives of the banking sector. This was to discuss the topic of fees.
In effect, prices seem to have gone up significantly. lately, affecting the purchasing power of the French. With an increase of 1.5% in one year, according to a study conducted by the Panorabanques comparator. Thus, they would have gone from €216.70 in 2021 to €219.90 in 2022.
In order to limit the increase in costsfor purchasing power, banks have decided to moderate their prices. There was an energy shield, we are implementing a shield on bank chargesdeclared the Prime Minister in Bercy.
Thereby, banks in France have agreed to cap fee increases at 2% billed to their customers. In this highly competitive industry, each establishment will be able to propose its own price within the limit of the ceiling.
Some banks freeze their rates for purchasing power
Some French banks will freeze their bank rates throughout 2023 on very common serviceslike bank cards, continues the minister.
After cap on bank chargesfor the purchasing power of the French, four banks have taken the step of freezing their rates. Among the good students are The postal bankBNP Paribas, le Credit Cooperative and LCL. And this, as we can read in the pages of our colleagues from Figaro.
These devices are particularly suitable for households facing galloping inflation and declining purchasing power. It will therefore be necessary remain particularly vigilant on the cost of payment incidents, for example.
Even though certain aids have been planned, as the tariff shieldwhich will continue in 2023. Or the energy check for households the most modest. Despite the presence of these aids, vigilance is still necessary.
Incident fees still present
The French Banking Federation (FBF) announced that the fragile customer offer, to which only one in six vulnerable customers currently participatewill be reduced from 3 to 1 euro per month.
This offer includes account keepinga payment card, the ability to withdraw or deposit cash. As well as the supply ofa bank account number (RIB), four monthly transfers, and much more. However, the offer does not cover all bank charges.
Notably in case of incidents. Like unauthorized overdrafts, returned checks or direct debitswhich will continue to apply. Despite the decline in purchasing powernot all charges can be waived.
Nevertheless, fragile customers will be able to benefit from a safeguard. These incident costs will be limited to 25 euros per month. Few 4.1 million people identified as fragile will undergo an increase of 8% in one year in 2021.
their purchasing power therefore suffers a blow that they do not control. They will pay an average of 118 euros over the year for all bank charges. This is the equivalent of around 10 euros per month.
Nor does this negotiation go back to the unacceptable freedom given to banks to define, as they see fit, the groups they consider as vulnerable.
The result is that many customers are deprived of a cap on their charges. Each bank has a more or less restrictive definition of vulnerable customers. This term covers a wide range of cases and does not always match or does not depend on income.
Finally, this bank tariff shield is rather limited to vulnerable clients, in order tohelp purchasing power which suffers from inflation.