For several years, bank charges have been a sensitive issue for bank customers. Will the new measures presented on December 10, 2018, to answer them?
If a household encounters financial difficulties, it quickly finds itself faced with the accumulation of costs that comes to worsen its financial situation.
What amounts of commissions in case of an overdue account?
Commissions and newsletters are billed to the accounts receivable, can quickly increase the bill to take some customers into the spiral of bad debt. The law regulating banking activities of July 26, 2013 limits certain commissions in order to limit this situation.
For example, the costs of rejecting a check are legally capped at $ 30 for a rejection of an amount less than $ 50. For a higher amount, the bank can not withdraw more than 50 $.
The intervention fees are set at $ 8 per incidence and limited to $ 80 / month. The cost of a direct debit rejection greater than $ 20 is billed the same amount. In the event that these commissions exceed the authorized threshold, the client can send a letter of dispute to be reimbursed.
Higher bank commissions for the most fragile households
A study of 60 million consumers has shown that the most vulnerable populations are the hardest hit by these commissions. Indeed, the study finds that the average cost is $ 34 / year.
However, looking more closely, the study shows that a less privileged household is more impacted by the costs of banking incidence since those who asked for help to family associations in 2016 pay ten times more than the general average is 296 $ / year.
In addition, if we extend the search to households that receive $ 1,000 / month, they pay $ 154 in commission per year and those who receive $ 2,000 are deducted from $ 354 / year.
Although the wealthiest incomes pay more, the ratio between income and bank commission costs seems higher for the poorest households. In this situation, a more in-depth limitation of intervention fees for accounts receivable is under study.
Towards a commitment not to increase costs
In September 2018, the banks had solemnly agreed to cap the bank incidence fees for the poorest households, at a maximum amount of $ 20 per year, or $ 200 / year. Since the Good Finance announcements, the banks that would originally prepare an increase in their bank charges for 2019, have declared a moratorium on charges extended to all of their customers.
In fact all customers will benefit from a limit of the incidental costs in the amount of 25 $ / monthly. For the 3.5 million people concerned, this is good news because they will collect more than 500 to 600 million additional living surpluses. These measures will be refined once negotiations begin on December 15 with the government.