How to reduce bank account fees in France

For many aspects of everyday banking, online banks often top polls as the most competitive when it comes to fees, typically charging little or nothing for maintaining an account, standard bank cards and routine operations.

However, many customers like to keep an account at a traditional bank out of loyalty or habit or because they value access to a branch and the chance to meet face to face. 

Since the fees they charge can add up, it is worth thinking about where savings can be made, notably by stopping extras you do not need.

There are online tools that can help, such as Panora Banques or government site Tarifs Bancaires.

A first point to check is to see if you are signed up to a bundled group of services with an overall fee (un package). 

Paying individually for essential elements, such as online banking, holding a current account and having a debit card, can work out around a third cheaper than a package including miscellaneous items you may never need, so it is worth looking at the fine print of what you are paying for.

Various in-branch services, or options relating to cheques, for example, may not be useful if you never go in and do not use cheques.

Premium cards such as Visa Premier or Gold Mastercard cost around €139 a year, compared with about €47 for a standard card. 

These can be useful for frequent travellers, as they include higher limits and extensive insurance cover, but they are not always good value for everyday use. 

Standard cards offer the features most people need. For those who want to manage their cash flow, a ‘deferred debit’ card can help avoid overdraft fees by grouping debits later in the month.

Payment method insurance (eg. offering cover in case of fraudulent use), often included in packages, can cost €25–€50 a year if taken separately. 

Customers are already protected by law against most fraudulent card transactions so, while insurance may offer some additional protection, it is likely not essential. 

Also, before paying extra, it is worth checking if similar cover already exists through your home insurance or a premium bank card.

Users should prioritise withdrawing cash from their own bank’s cash machines. Most banks limit the number of free withdrawals at other banks’ machines to two or three per month, after which fees apply. 

Counter withdrawals at another bank are particularly expensive and should be avoided.

In-branch transactions are a major source of extra fees. Transfers, setting up standing orders and cheque cancellations are often free online but costly in branch. 

So, using online banking for routine operations is another way to limit charges.