Bank rates in 2023: the most expensive banks, the cheapest

This is (finally) good news for the purchasing power of the French. Bank rates will rise only modestly this 2023, according to the Consumer Housing Framework of Life (CLCV) annual survey released on Tuesday, January 3rd. This annual study covers 118 establishments in mainland France and abroad.

The account for “small consumers”, calculated on the basis of the account of one person using a limited number of services, will be stable at the level of 66.96 euros per year (-0.01%), assure CLCV. For “medium” and “large” consumers (two holders, a medium and a large package of services), they will amount to 148.76 euros and 208.04 euros, respectively, which is 1.24% and 0.89% more compared to 2022.

According to the authors of this study, for the “small consumer” the cheapest bank is Crédit Agricole Center Loire (average annual bill of 41 euros per profile, using the cheapest formula between paying “a la carte” or with a package in each bank), the most expensive are Marze and Dupuy de Parseval (€130.80). For the “average consumer”, the cheapest bank is Crédit Agricole Anjou et Maine (88.32 euros) versus 280.13 euros for the most expensive Banque de Savoie. Finally, for the “big consumer” the most affordable is Crédit Agricole Center Ouest (€167.15) and the most expensive again is Banque de Savoie (€330.77).

Credit Cooperative allocated

After all, in its national ranking of 97 establishments present on the French mainland, ranging from green for the banks that offer the best rates to red for the most expensive, the CLCV study ranks green Crédit among “small consumers”. Coopératif and LCL in dark and light green MILLEIS, Banque Postale, Crédit Agricole and Caisse d’Epargne. On the other hand, BNP, Banque de Savoie, Dupuy de Parseval and Marze are marked in red.

In terms of “medium consumers”, BNP is classified in dark green, while Crédit Coopératif, HSBC, Caisse d’Epargne, Banque Postale and Crédit Agricole are classified in light green. Banque de Savoie, MILLEIS, LCL, Dupuy de Parseval and Marze are shown in red.

Finally, among the “active consumers”, Crédit Coopératif is again marked in dark green. The Postal Bank, Crédit Agricole, Crédit Mutuel and BNP are in light green, while the Banque de Savoie, Dupuy de Parseval and Marze are in red.

The CLCV Association has published its national rating based on 97 banking institutions present on the French mainland.

© / Screenshot of CLCV 2023 bank price research

“Always competitive” internet banking rates

The changes observed by the authors of this study, most of which took effect on February 1, 2023, are well below the inflation measured at 6.2% per annum in November 2022 in France, according to the latest data published by INSEE. They are also in line with the profession’s commitment, made on September 13, 2022, after tense negotiations with Economy Minister Bruno Le Mer, not to raise bank rates by more than 2% during 2023.

“In general, the commitments to limit increases are being met,” CLCV notes. This study “confirms that French banks exist and thus participate, in particular in this way, in protecting the purchasing power of the French,” the French Banking Federation (FBF) responded to AFP’s request.

“The cost of banking bundles, which we call “national” because they offer the same prices throughout the territory, does not change in BNP Paribas, Banque Postale, Crédit Coopératif, HSBC and Société Générale, which became the SG brand,” the authors of the study wrote. . For small consumers, the association also notes that a la carte prices can be up to three times cheaper than a package. She also notes that online banks like Boursorama, Fortuneo or Monabanq “always show competitive prices.”

“Reducing the number of free withdrawals from competitors’ distributors.”

The association also points to a “decrease in the number of free cash withdrawals from competitors’ ATMs”, which is one indicator of the more difficult access to cash.

Banks are on track to meet another of their commitments to Economy Minister Bruno Le Maire: to lower the price of the Fragile Offer (OCF) to €1 per month, down from €3 per month l last year. This offer, signed up by only one in six eligible customers, must include a certain number of services: account management, payment card, cash withdrawal or deposit, bank statement (RIB), four monthly transfers. …

A small number of institutions go beyond the free application: these are BNP Paribas, Boursorama, Fortuneo, HSBC, as well as Banque Populaire Auvergne Rhône Alpes. The study emphasizes that the issue of identifying vulnerable customers “remains intact, but the criteria have not changed” and remains largely in the hands of establishments.

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