I know this subject has been raised often before but please consider this a ‘refresher.’
I just discovered my French bank (CMB) is charging 18,44 Euros per month this year for the pleasure of having a regular debit card.
Last year it was 17,91 euros per month and over eight years amounts to over 1000 euros.
Banks in the UK and in Australia / NZ do not charge for having debit cards.
Is this normal for France and the only solution make alternative banking arrangements?
Good morning
I’m currently paying €135 per year for a Visa Premier card with Soc Gen. But it’s more than just a debit card. It would cover repatriation for example if I fell ill or had an accident abroad.
Am pretty sure there are online banks in France that come with very cheap or even free bank cards. Have you tried Googling « banques les moins chères »? The personal finance mags such as Mon Revenu regularly publish comparative tables showing bank charges.
A very quick search suggests Boursorama might be worth investigating.
It seems that it is time for a discussion with your bank or move to another bank.
Thanks Helenochka - I wish I knew this 8 years ago - I need to be more diligent going through my bank statements …
Yes. Did I mention my bank is the Credit Mutuel de Bretagne?
Ah well. Onwards and upwards!
Purely by way of comparison, Credit Agricole (Britline) charge us 65€ annually for two basic debit cards. We’re also charged just over 2€ monthly for the pleasure of having our current account…
I pay €21.30 every 3 months for my debit card with La Banque Postale, imo the best French bank because it is truly national, not regional, and has more branches and agences in rural villages like ours where there is not even a bar anymore. Our Agence Postale is open 6 mornings per week, very handy.
The cost of keeping a bank account was one of my ‘niggles’ about France, however, at least banks aren’t closing branches like they are in the UK.
French banks are however closing cash machines at quite a rate. There are about 46,000 in France (and about 49,000 in the UK). The number in France has dropped by 20% in a decade and the main banks anticipate a further reduction of 3,000 in the next two to three years…
I have never understood why French banks charge for debit cards yet cheques are free. Cheques cost far more to process and are more open to fraud. They have to be handled, read, cleared and then stored. They cost the bank over a Euro to process. One would think that like other developed nations French banks would be encouraging us to use only cards
Not a good bank, had an account with them in Bretagne for years for the business and paid over the odds. CA far better and I only pay €10/month for a mastercard debit card with découverte and insurance.
Because cheques are easier to pay artisans etc and also have no limit unlike debit cards for use in one week. Not everyone has access to the internet especially elderly people and others like me, who were never taught anything to do with computers and have had to find our way and are often scared of pressing the wrong buttons. Don’t treat people with contempt because they still like to write a cheque which is still legal tender in most places and sometimes paying online is also very fraught with problems as well.
Part of trend to cashless society. I have finally seen a shop offering cashback, but in some rural areas if this doesn’t take off lack of cash could be an issue.
I didn’t read @rabbit’s comment as contemptuous towards people who still write cheques. I read it as a comment critical about French banks and the banking system, and how slow it can be to adapt. Of course you’re entitled to still use cheques… I don’t think anyone’s suggesting otherwise.
There are other areas where I think some French banks are often slow. Setting up a new beneficiary to receive a bank transfer is horribly slow with La Poste (takes approx 48hrs to implement). When forced to adopt new things, e.g. Paylib, they can be reactive… but unless they have to, they like to drag their feet imo.
However I’ve been using BoursoBank more and more recently and have been very impressed. It’s all online but I’ve not stepped foot inside my bank for years, so that’s not an issue. I’ve started moving everything over to that and will undoubtedly close my account with La Poste eventually.
Edit: cause my spelling sucks
The alternative recommendations are interesting.
I always knew French banks did things differently, which is not so much of a frustration as the fact that they do many things much more slowly!
Been with CA Britline for 20+ years. I USED to have their credit card (because of holiday insurance) but stopped that (€120?). For the past few years I have their ordinary debit card. I pay €17.40 for it annually, and there is also a separate ‘account charge’ f €1/month.
No complaints there…
Why do you accuse me of treating people with contempt? What have I written that is contemptuous? I have simply stated some facts. If you prefer to write cheques fine. The spending limits on cheques and cards is set by each bank. Why has your lack of knowledge of computing relevant? Many merchants are now refusing cheque payments because of fraud. I
Amazing the amount of difference between the different banks here, can’t complain about spoilt for choice.
I like La Poste because the lady in the Agence attached to the Mairie is open far more often than the CA in the next village and is very helpful. I rarely have to fill anything in, she does all that, if I want money I don’t need a hole in the wall, she does that over the counter with my card and no need for ID at all because she knows me. 