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Bank overdraft: two in ten French people in the red every month

2020-11-27T05:10:50.190Z


Among the French who happen to be uncovered, nearly 40% are exposed every month, according to a study by Panorabanques that we reveal


Something to crush red.

One in two French people is overdrawn at least once a year and two in ten admit to being overdraft every month ... Most of the time because of a difficult financial situation or an unforeseen expense.

This is what reveals the latest survey of the online banking fee comparator Panorabanques.com (carried out among 1000 people at the end of October) that Le Parisien Today in France publishes exclusively.

According to his calculations, which take into account the frequency of overdraft respondents, the authorized overdraft amounts to "235 euros on average over ten days per month, five times per year".

The year “2020 is a complicated year for the French, who estimate that 43% have lost purchasing power this year, summarizes Laure Prenat, general manager of the comparator.

All are affected by bank overdraft, even if we note that young people aged 18 to 34 and people with an income of less than 1,500 euros per month remain the most affected ”.

And to drive home the point: "38% of French people are exposed every month".

Overdrafts on the rise among the most vulnerable

For Jean-Louis Kiehl, head of the national network for the fight against over-indebtedness Croesus, these figures correspond to what he sees on a daily basis.

“With the Covid, the overdraft trend remains stable.

Many households concentrate their expenditure on food, they have fewer expenses and fewer possibilities to buy clothes or goods, ”he explains.

"But this is not the case for all: among the most vulnerable, young people among others, those who are already struggling to make ends meet and pay their rent, overdrafts are increasing", he underlines. , fearing the worst with the health crisis linked to the Covid-19 epidemic.

"We expect cascading problems in the spring when the aid systems will stop ... Those who earn a little more from the minimum wage and first-time buyers with mortgage loans will suffer enormously", warns Jean-Louis Kiehl.

Higher fees at traditional banks

Still, an overdraft is expensive, very expensive even.

Its costs are difficult to compare, varying from one bank to another and from one customer to another.

Despite everything, Panorabanques notes that these fees are up to fifteen times more expensive in a traditional bank than in an online bank.

The overdraft client of a traditional bank must take out his calculator: between the administrative fees (necessary for the establishment of an authorized overdraft) billed around 10 euros, the overdraft (14% on average, but they can vary from 7% to 21% depending on the institution), bank charges plus an unauthorized overdraft (from 14% to 21% depending on the bank), intervention fees (capped at 8 euros per unauthorized overdraft) and letters intervention (9.80 euros on average at 147 banks), the note climbs to 66 euros on average per year, against only 4 euros with an online bank.

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Limit your bank overdraft fees


But beware, this amount hides huge disparities.

“The invoices of the most fragile customers cumulating irregularities on irregularities can quickly reach several hundred euros per year, insists Laure Prenat.

Hence the importance for the customer at risk to compare this type of fee before choosing his bank.

"

Source: leparis

All business articles on 2020-11-27

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