Yet the barriers to mobility in banking ?

You want to change the bank ? With the mobility bank of the Act Macron, it became more simple. You just need to sign a mandate, mobility, and your new bank takes care of everything for you. At the end of 22 working days maximum, the change of direct debit is effective. Top ! But for the consumers ‘ association, UFC que choisir, the mobility bank is still imperfect. It points, in fact two factors which limit : the possession of a real estate loan and the transfer costs are prohibitive savings products. Explanations.

Change of French are more and more tempted to change the bank

Concerning the place where they deposit their money, the French are rather nests. According to a survey of 4 900 subscribers to its newsletter, the UFC que choisir found that two-thirds are customers of their bank for more than 15 years. Result, the rate of banking mobility is low : 3 % in 2016 only.

But, the law Macron and the entry into force of the mandate of mobility on February 6, 2017 could change that. In fact, now 80% of the respondents think that it is easy to change your banking institution. And 60 % believe that the steps are neither long nor complex. As a result, a quarter of respondents are considering leaving their bank within the next 12 months.

However, the UFC que choisir is concerned that the detention of a real estate loan or savings products that are dampening the enthusiasm of the French, and the competition of banks.

The real estate credit : an obstacle to the change of bank

Up to the present, when you purchase a real estate loan, the event that your bank requires that you domiciliez your income in it. That is to say, you pay each month your salary to an account opened in this bank. Well, up until now, you could sign this clause without too much anxiety. In fact, if you decide to change the bank during the repayment of your loan, your banking establishment could hardly stop you… The courts judging this abusive clause.

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The credit-immo : a brake on mobility in banking ?

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But an order issued June 1, 2017, has changed the balance of power. From 1 January 2018, the bank that grants you your credit immo may impose on you the domiciliation of your income, you are tying to it for up to 10 years. A brake size to banking mobility for the consumers ‘ association… The UFC That Choose is indeed reminiscent of the effective duration average housing loans was 7.1 years in 2016 (ACPR – annual Survey on the financing of the habitat – July 2017).

Council banknote

In consideration of the direct debit, the bank must give you an «advantage class» : lower interest rate, free of fees etc, So a board, take the time to negotiate it with care !

Transfer certain savings products can be expensive

When you have a deposit account in a bank, it also owns a savings product housing – 32 % of the French have a PEL or CEL or a share savings plan (PEA). And for the sake of simplicity, when switching from bank to bank, we want to combine all these products in its new banking institution.

Flat, if change of current account is free of charge, «our study of the booklets tariff of 71 institutions shows that banks are catching up on the transfer rates on savings products, uncapped, «says the consumers’ association. According to it, the transfer fee would have experienced record increases since 2012 :

  • +18 % for PEL/CEL 91 € on average in 2017
  • +13 % for the PEA to 87 € on average in 2017

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Transfer to a PEL/CEL : how much does it cost ?

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Of course, these fees vary from one bank to another : from 43 € to La Banque Postale of € 150 to the Popular Bank of the North for a PEL and 17.90 € at ING Direct to 135 € at Crédit Agricole Atlantique Vendée for a PEA. «Thus, a client which has a PEL and a PEA must pay 178 €, on average, to leave its initial establishment and up to 270 € at Crédit Agricole Atlantique Vendée «, concluded the UFC What to Choose.

It should be noted that some banks, especially online banks – you reimburse the cost of transfer of your securities accounts and PEA. Find out more !

And savings pass books, then, your products, darlings ? The books of the banks and the booklets regulated (Booklet A, LDDS) may not be transferred. You need to close them and open new ones in your new bank. But the good news is, the procedure is free of charge !

So, don’t worry ! Change of bank is often a financially interesting, as the differences in charges between the banks are high ! In addition, it is not only the price that is important ! Banking services of higher quality may be motivation enough, don’t you think ?

Marie-Eve F



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