Annual fees for having a French bank account are rising by around 5% this year, according to a study from a leading consumer rights watchdog.
The rise is significantly above inflation levels (around 2% according to end-of-year figures).
Costs relating to account maintenance fees, bank card ownership and ATM cash machine withdrawals are the main reasons, states the Consommation Logement Cadre de vie (CLCV) in its report.
It compares the prices for services on February 1, 2025 to the same date on the previous year in 91 banking establishments across France (regional institutions of the main banks in France).
Increases will hit account holders of all sizes (small, medium, and large, depending on how often they use their account and what services they have) and their banking institution.
In particular, the report questioned the promotion of service packages (offres groupées de service ou package) offered by banks, which often contain unused features and can be less advantageous than subscribing to each service individually.
Costs also differ regionally, with banks in the north and west generally the cheapest.
Account management fees rise highest
Fees to simply have an account – frais de tenue de compte – will rise by around 8% on average this year, with 60 of the 91 banks measured charging higher rates.
‘Small’ account holders – those who only subscribe to a basic set of services – will pay on average €69.78 a year, an increase of +5.46%.
Medium account holders – CLCV uses the example of a couple with two cards and loss and theft insurance – will pay an average of €134.94, up by +5.29%.
Large account holders, subscribing to the maximum number of services offered in the ‘Gold’ or ‘Premium’ tiers, will be less affected, with rises of roughly 3.88%, averaging an annual payout of €214.87.
Account holding fees are now ubiquitous, and only three of the 91 banks measured did not charge a fee for simply having an account (Crédits Agricoles Anjou et Maine, Normandie Seine and Crédit Coopératif).
Other charges that are increasing include bank card fees (up by +3% to +3.4%), fees for withdrawing cash from an ATM outside of your banking network (or seeing the amount of fee-free withdrawals reduced), and an increase in package deals.
ATM charges come at a time when some banks are trying to reduce these fees, whereas others are set to maintain them.
Read more: (Some) French bank fees to reduce for instant transfers and ATM withdrawals
Discounts on options such as having a second bank card for the same account and some other bonuses are also less advantageous than before, leading to a further rise in costs.
Read more: Letters: French banking practices are commercial nonsense
Best bank option depends on how account is used
Whilst all banks will see prices increase in some shape or form, certain institutions fare better than others depending on how often consumers use the account.
For example, LCL was rated the best for ‘small’ account holders, and BNP Paribas and Crédit Agricole for ‘medium’ holders. Conversely, LCL was one of the worst rated for medium and larger account holders, and BNP Paribas for small accounts.
Crédit Coopératif performed well across all account types, as did La Banque Postale, however SG (the merger of the Société Générale and Crédit du Nord) and Banque Populaire were rated as some of the most expensive, regardless of the services subscribed to.
Other banks that scored average across all account types were Crédit Mutuel and Caisse d’épargne. CIC scored poorly, but not the worst, across all types.
In some cases, fees for the same type of account differ by more than 10% between institutions, with the CLCV advising people to compare prices before opting for a certain bank.
Even among the best deals, regional fees differed significantly. The cheapest ‘small’ account in the Pays de la Loire – with Crédit Agricole Anjou et Maine – costs €44 per year, but in all other departments the cheapest was €48.
Similarly, the same bank offered the best deal for medium account holders – €91.38 compared to the next cheapest, €97.36 from the Crédit Agricole in Centre Val de Loire and Nouvelle Aquitaine. All the other cheapest accounts of this size cost €100 or more.
Tips for choosing the best account
The association recommends carefully analysing what you subscribe to, or even using a package at all – for small and medium account holders, having a package deal was cheaper and more advantageous in only 40% of cases, it found.
It is only advantageous to larger and premium account holders in 52% of cases.
It is possible to attempt to negotiate the account fees associated with your contract via your bank advisor, however there is no guarantee that this will result in fees being reduced.
If you believe a deal with another bank is significantly better and you decide to change, then your new bank may be legally obliged to transfer the account for you.
Read more: How to change bank account in France - and points to consider
An increasingly popular option for consumers are online banks, which can be significantly cheaper if you do not want the services of a traditional institution.
This can include not having a personal advisor, nor a physical card (instead having a digital one attached to your phone) nor chequebook.
However, CLCV warns that these banks may charge fees for other services that can catch consumers unawares.
Many of these online banks now come with a French IBAN, allowing them to be declared more easily on income tax declarations and receive payments that would otherwise not be permitted.
Read more: Third online bank to close amid competitive market in France
How do you find bank fees in France? Do you consider you have a fair deal? What services do you value most? Share your view via feedback@connexionfrance.com
