Finances. Bank fees will rise in 2021: who will be affected?

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Anyone who says the beginning of the year says novelty, and as far as the increased fees are concerned, the banks have been very happy about it. According to the annual study by the Consumer Protection Association (CLCV), fees increase by an average of 4{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} in almost every second business.

The CLCV is based on the rates in force in 127 metropolitan and overseas banks as of February 1, 2021 by grouping three profiles: the 'small consumer' with a single account and a limited number of services, the 'average consumer' active couple with a shared account, and the 'heavy consumer', a so-called high-end couple who own a Visa Premier card or Mastercard Gold and a large number of services.

The most affected 'small consumer'

The observation is the same for everyone, it is the 'small consumer' who is most affected. On average, he pays € 66.43 per year for an international bank card and some withdrawals and transfers outside of his banking network. Worse still, the price of an operation between Crédit Agricole and Milleis Bank almost triples.

An 'active couple' for their part spends an average of 145.39 euros and would be more advantageous with Crédit Agricole Anjou et Maine (88.32 euros). For a 'top couple', the average almost doubles to 209.94 euros per year, and again it is the Crédit Agricole des Center Ouest that offers the lowest prices (154.80 euros). .

In addition to bank cards, whose fees have increased by an average of 1.2{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} compared to 2020, other fees are also affected. This is the case with the separation of a joint account, which corresponds to an average of 18.78 euros, with a transfer from PEL (average 99.26 euros), but also with the costs of maintaining an account. ATM withdrawals, branch fees, and external transfers.

The bank that is booming in 2021 is LCL, with an average increase of 10{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118}. Crédit Lyonnais has decided to increase the fees regardless of the profile. Thus it costs 10.25{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} more for a small consumer and 8.47{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} more for a large consumer.

Tips for choosing the right bank

The key to not ending up with exorbitant bank fees is the CLCV comparison. You need to first list your needs and then compare the banks. Indeed, prices can vary from one to two from establishment to establishment, depending on the profile. Therefore, for a “large consumer” it is more advantageous to contact Postbank, which is done at a lower cost, while a “small consumer” prefers Crédit coopératif or LCL.

On the other hand, some institutions appear to be 'bad students' and point to being too expensive in the last few digits of the CLCVs study table. Among them: Milleis Banque, Banque de Savoie, Banque Marze and Banque Dupuy de Parseval.

However, it is not enough to compare the banks with one another. You also need to compare between regions and within the same network. For example, the prices within the Crédit Agricole vary from region to region. In the Center Loire, a small consumer has to pay 41 euros, while the sum in the Pyrenees-Gascony (70.50 euros) is almost twice as high.

Finally, you need to pay attention to offers, especially 'package'. According to the CLCV, these are only of interest in 10 companies for the 'small consumer' and in 53.5{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} of the cases for an 'average consumer'.