Online banks, also called “neo-banks” (mobile banks) or “remote banks”, offer their customers unbeatable prices.
The reason is simple: they do not have physical branch networks, the relationship being completely paperless.
They therefore have less overhead costs and fewer personnel costs.
Naturally, all this has repercussions on bank charges, which are up to 3 times lower than those of traditional banks.
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What are the different types of bank charges?
Bank charges, which designate all the prices charged by banks, can be of several types.
It could be :
Fees invoiced in exchange for banking services (opening and management of a bank account, provision of a credit card, carrying out banking operations abroad, cash withdrawals from ATMs of another bank, sending a checkbook, etc.);
Fees charged in the event of account incidents (exceeding the limit or the duration of the authorized overdraft, rejection of a check for insufficient balance, etc.).
In the case of online banking, these bank charges are either free or very inexpensive, saving account holders substantial savings each year.
Neo-banks and online banks are also free of opening fees and account maintenance fees, with the exception of people who have a professional account.
Note that everyone is allowed to open an account in an online bank, provided certain conditions are met, specific to each.
How to benefit from free bank charges?
Do you want to change financial institution? This may be the opportunity to join an online bank that does not require much bank fees. Take the time to compare the different offers to find out which one is best suited to your needs. In collaboration, the Ministry of the Economy and the Financial Sector Advisory Committee (CCSF) offer a 100% free official tool to compare the bank charges of different institutions, including online banks. Clear and easy to use, this comparator is updated every week. It covers all the departments of France and lists around 150 credit institutions, which represents more than 98% of the existing market in the territory.
In terms of bank charges, several rankings place Boursorama Banque at the top of the list. The organization does not take any commission on so-called “basic” services (account maintenance, transfers in euros, direct debits in euros and check remittances). The establishment also grants a bonus of 80 euros for opening an account with a bank card. ING online banking is not left out since it offers an account without bank charges on current transactions, with its Essential offer, as well as a welcome offer of 40 euros. To give other examples, Orange Bank, Hello Bank (a subsidiary of BNP Paribas) and BforBank are also among the most attractive toll-free online banks, with free daily transactions. Note that if you are the victim of excessive bank charges,you are entitled to request their reimbursement. The first step in doing this is to contact a bank advisor and submit an official refund request. It is also possible to contact the bank's mediator, to contact a consumer association or a court conciliator.
