Photo: PexelsIn short
- Average cost of a bank account in France: 200 to 250 euros per year
- Banking mobility: free and automated in 22 days
- Overdraft: main fee item for fragile households
- Online banks: 50 to 80 percent reduction on most fees
Bank fees represent on average 200 to 250 euros per year in France. Identifying the heaviest items and activating the right levers saves several hundred euros.
The 6 main fee items
| Item | Typical amount |
|---|---|
| Account maintenance | 0 to 50 euros per year |
| Bank card | 40 to 130 euros per year |
| Intervention fee | 8 euros per operation |
| Overdraft fees | 10 to 20 percent APR |
| Foreign exchange commission | 2 to 3 percent + fixed fees |
| Direct debit rejection | 20 euros per rejection |
Levers to reduce fees
All French banks publish their rates on an official tariff leaflet. The document is mandatory and downloadable on their website.
- Annual negotiation: request a discount on the card and account maintenance fees
- Removing unnecessary services: premium payment means insurance if not necessary
- Overdraft management: activate a lower-rate cash reserve
- Card without fees abroad: essential for frequent travellers
- Banking mobility: switch to a cheaper bank
Banking mobility, how does it work?
Since 2017, the banking mobility service is free and mandatory. The new bank takes care of everything:
- Signing a mobility mandate
- Transfer of banking details to direct debit and transfer issuers
- Closing of the old account within 22 working days
Check that the old account balance is positive before closing. Closing fees are prohibited, but a debit balance may generate regularisation fees.
When to change bank?
The switch is relevant if:
- The annual fee gap exceeds 100 euros
- The current bank refuses any negotiation
- The services offered no longer match needs
- An attractive welcome bonus is available
An annual audit of bank fees is a healthy habit. Over 10 years, 15 euros saved per month represent 1,800 euros.