Every year, thousands of people lose money at the bank who could have simply avoided it.
These are the little lines in the contract that we often forget to read and which we only realize too late, when we have to pay. Bank charges are often unclear to customers. In broad terms, those of account maintenance, overdraft or even the price paid for a card are more or less known. But others, just as high, pass completely under the vigilance of people, who may take many years to realize them.
In France, around one in three people is a customer of two different banks. Old contract kept following the creation of a joint account elsewhere, account opened after subscribing to a loan or to inherit a bonus (Bac mention for example)… The reasons can be multiple. But it is better not to forget this account.
Although it may seem improbable to forget a bank account, hundreds of thousands of French people are affected. In 2023 alone, 620,000 accounts have been inactive for 10 years, i.e. as many years during which banks have been able to withdraw money.
Thinking that you can quietly let your money “sleep” so that it constitutes your financial “silver” is a mistake. In fact, over time, the prize pool placed will… decrease! And it’s the law that plans to make you lose money. It’s hard to believe, but it’s very real. Banks have the right to charge fees on inactive accounts! No movement, no overdraft, but management fees: a very legal heresy.
After one year of inactivity on your current account, the bank is authorized to charge up to €30 in fees each year for “management”. However, this management is invisible since an account is considered inactive when, in 12 months, no payment or withdrawal has been made and no exchange with its bank advisor has taken place.
Vigilance must also be taken with your savings accounts (Livret A, LDDS, LEP, PEL, etc.): after five years without any movement or manifestation with your bank, the same amount is withdrawn annually. Not touching your money means losing it! To avoid these expenses, nothing could be simpler: a banking transaction (transfer, payment), even of 1 euro, or a quick email to your advisor are sufficient. Please note that these fees do not apply to minors’ accounts.
The rate charged by banks corresponds to the ceiling governed by a government decree, but cannot be higher than the amount available on the account. A provision put in place since 1er January 2016 whereas previously, the average fees taken from inactive accounts was €50 to €60 per year and could even rise up to €145 at Crédit du Nord, noted UFC-Que-Choisir at era.