This is (finally) good news for the purchasing power of the French. Bank rates will only increase very slightly this year 2023, according to the annual survey of the Association Consumption Housing Living Environment (CLCV) published this Tuesday, January 3. This annual study covers 118 establishments in mainland France and overseas.
The bill for “small consumers”, calculated on the basis of an account held by a single person using a limited number of services, will be stable at 66.96 euros per year (-0.01%), assures CLCV. Those of “average” and “large” consumers (two holders, a medium and large package of services) will amount to 148.76 euros and 208.04 euros respectively, an increase of 1.24% and 0.89% compared to to 2022.
According to the authors of this study, for a “small consumer”, the cheapest bank is the Crédit Agricole Center Loire (average annual bill of 41 euros per profile, using the cheapest formula between “à la carte” payment or with a package in each bank), the most expensive being Marze and Dupuy de Parseval (130.80 euros). For an “average consumer”, the cheapest bank is Crédit Agricole Anjou et Maine (88.32 euros), against 280.13 euros for the most expensive, Banque de Savoie. Finally, for a “large consumer” the most accessible is the Crédit Agricole Center Ouest (167.15 euros), the most expensive being again the Banque de Savoie (330.77 euros).
Crédit Coopératif stands out
In the end, in its national ranking established on 97 establishments present in mainland France, ranging from green for the banks which offer the best rates to red for the most expensive, the study by the CLCV association classifies among “small consumers” in green Crédit Coopératif and LCL are dark and in light green MILLEIS, Banque Postale, Crédit Agricole and Caisse d’Epargne. In red, on the other hand, are BNP, Banque de Savoie, Dupuy de Parseval and Marze.
On the side of “average consumers”, BNP is classified in dark green, while Crédit Coopératif, HSBC, Caisse d’Epargne, Banque Postale and Crédit Agricole are in light green. Banque de Savoie, MILLEIS, LCL, Dupuy de Parseval and Marze are shown in red.
Finally, among “heavy consumers”, Crédit Coopératif is again classified in dark green. The Postal Bank, Crédit Agricole, Crédit Mutuel and BNP are listed in light green while the Banque de Savoie, Dupuy de Parseval and Marze are in red.
The CLCV association has published its national ranking based on 97 banking establishments present in mainland France.
© / Screenshot of CLCV 2023 bank pricing survey
The “always competitive” rates of online banks
The changes observed by the authors of this study, most of which took effect on February 1, 2023, are much lower than inflation, measured at 6.2% over one year in November 2022 in France according to the most recent data published. by INSEE. They are also in line with the commitments of the profession made on September 13, 2022 following tense negotiations with the Minister of the Economy Bruno Le Maire: not to increase bank rates by more than 2% over the year 2023.
“Overall, the commitments on the limitation of the increases are kept”, notes CLCV. This study “confirms that the French banks are there and thus participate, in particular by this means, in the defense of the purchasing power of the French”, reacted the French Banking Federation (FBF), requested by AFP.
The “cost of the service baskets of the banks that we call ‘national’ because they offer identical prices throughout the territory does not change at BNP Paribas, Banque Postale, Crédit Coopératif, HSBC and Société Générale, which has become a brand SG,” the study authors wrote. For small consumers, the association also notes that “à la carte” pricing can be up to three times cheaper than a package. She also notes that online banks like Boursorama, Fortuneo or Monabanq, “always display competitive prices”.
A “reduction in the number of free withdrawals made from competitors’ distributors”
The association also points to the “reduction in the number of free withdrawals made from competitors’ ATMs”, one marker among others of more difficult access to cash.
The banks are well on their way to another of their commitments made to the Minister of the Economy Bruno Le Maire: to reduce the price of the Fragile Customer Offer (OCF) to 1 euro per month against 3 euros per month l last year. This offer, subscribed only by one out of six eligible customers, must include a certain number of services: account management, a payment card, the possibility of withdrawing or depositing cash, the provision of a bank account statement ( RIB), four monthly transfers…
A small circle of establishments goes beyond by applying free: this is the case of BNP Paribas, Boursorama, Fortuneo, HSBC as well as the Banque Populaire Auvergne Rhône Alpes. The question of the identification of fragile clienteles “remains intact, however, the criteria having not evolved” and remaining largely in the hands of the establishments, underlines the study.