The decline in interest rates has not only made people happy. Of course, banks can only be satisfied with having many customers. But profit margins have been reduced.
Banks have promised to revise upward banking and account maintenance fees. And it’s gone slowly.
Summary of the page
- 1 Banks revise upward their fees
- 2 An increase of about 13%
- 3 The displaced withdrawal costs concerned also
- 4 Online banks widen the gap
Banks raise their fees
The rise in bank charges is inevitable. It concerns the fees related to account statements, withdrawals of money made especially from other banks and fees related to credit cards.
The first item concerned is obviously account management.
The size depends on each bank. This is the case for Crédit Mutuel, Banque Postale, BNP, Paribas, Banque Populaire, Caisse d’Epargne and Crédit Agricole.
An increase of about 13%
Online banks are rubbing their hands. Exempt from heavy infrastructure spending, they have built their reputation, among other things, on bank charges at the lowest cost to the limit, nonexistent.
An average increase of 13% in banking fees for traditional banks; compared to last year, will lead borrowers to turn to online credit application for their personal projects
Financial analysts, considering this review, believes that online banking customers can save 180 euros to 190 euros for a year.
This can grow to the satisfaction of online banks On the one hand, Fortuneo, ING Direct or Boursorama maintain zero account maintenance fees and on the other, all traditional institutions apply their new measures. For customers and especially new borrowers, the choice will be made quickly.
The displaced withdrawal costs concerned also
Things are going to get worse in terms of displaced withdrawal fees. They are not, for the most part, charged by banks online. This is not the case for traditional banks usually in competition. Credit Agricole announced their color with an increase of 8%. The postal bank did not go through four ways because it will be twice as expensive against 23% increase for the People’s Bank.
Online banks widen the gap
Online banks hit the nail on bank cards. They offer bank cards to attract new customers. It’s the opposite for network banks. They are considering a 3.35% upward revision of debit cards.
We are witnessing a change in consumer behavior. According to a recent study conducted by the Audirep Institute for Marketing Studies, 70% of online banking customers are preparing to make them their main bank.