2025-01-22 10:10:00
The prices charged by the main banking institutions have changed recently.
It is, inexorably, an imponderable part of the transition to the new year. Every year, regardless of the economic situation, banks increase their fees. A few cents here, several euros there… For the moment, nothing colossal. Yet when the final bill arrives, the bill is inevitably much higher.
Since January 1, 2025, several large banks have already applied new rates, higher than a few weeks ago. In accordance with the law, they informed their customers of the new prices at least two months before they came into force. But few have really taken note of it.
At BNP, for example, in mid-October an email was sent to customers entitled “Your conditions and prices from 1 January 2025” inviting them to access their personal space to discover the new prices charged. There was no document in the email. Few therefore went to find out about the new pricing policy.
However, BNP, like CIC, Crédit Agricole and Société Générale (since April 1), have, among other things, increased the prices of bank cards. The Visa classic card costs €1 (CIC) to €2 (Société Générale) more than in 2024 in all these establishments and is now between 43 and 50 euros. Crédit Mutuel maintained the same price.
And that’s not all. Even a daily service, paid every month, increased by an average of 6%: account maintenance fees. Of course, this is only 10 cents (Crédit Mutuel, CIC) or 15 cents (Crédit Agricole, Société Générale) more each month and this represents €1.20 or €1.80 more per year, but the increase is well above inflation. Only the BNP did not make any increases. It must be said that these costs are already billed at €2.60 per month.
It should be noted, however, that these daily banking fees apply to customers who sign up for these products individually, without signing up for a monthly offer that includes a whole host of other services. These packages, which are also on the rise, are also “rarely interesting for a consumer who uses few services”, points out the consumer association CLCV. We therefore strongly recommend that you carefully read and compare the price list to pay only what is necessary.
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Did Your Bank Steal From You?: examining Recent Banking Fee Increases
T.News: Welcome, thanks for joining us today. For our readers just tuning in,it truly seems bank fees are undergoing yet another unwelcome change.In this article , the prices for common banking products from major European institutions have surged, leaving lots of customers puzzled. Could these price hikes fly under the radar?
Finance Expert: As expected,certain financial institutions subtly introduced fee escalations at the start of January 2025.
T.News: These increases – were they small adjustments, across the board
?
Finance Expert Exactly. Consider visa classic debit card fees leaping 1euro (€1)-2 euros more in banks.
T.News
Dose it seem logical?
Finance Expert
Well, rising prices are ubiquitous in today’s economy—that’s inflation. Now, banks will naturally adjust those costs. We can’t be surprised in these economic straits, although not everything needs adjustments, especially service charges.
We saw BNP bank notably holding charges steady, keeping at €2.60 for monthly card maintenance. Those prices are consistent
T.News: Why hasn’t there been
uproar?
Finance Expert”:
It’s interesting, despite regulations requiring advance notice 2 months upfront, banks communicated through emails , often neglecting document attachments .
That lack
of documentation in emails adn, frankly , weak dialogue often resulted in lackluster customer knowledge
Finance Expert: Which leaves customers scratching their heads thinking their bank did an end
-run when checking statements
Finance Expert: I highly recommend thorough price comparisons prior to signing
T.News: Anything further readers must factor into their everyday banking?
Finance Expert: Sure! Many individual product fees now mean packages worth exploring. Be warned, too many packages just throw in fluff most customers seldom need. Pick-and-choose options generally better suit
consumers. Never shy away comparing various banks offering products. Even with seemingly moderate monthly increases at big banks (those 6% average climbs you mentioned. They add considerable sum annually.).
“Think carefully:
Pay attention to pricing notifications. Always look beyond clickbait headlines from emails.
Look beyond flashy deals. Remember packages often obscure crucial details
Let’s encourage openness
T.News**: These insightful points deserve echoing. Big thank you .
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