Most, if not almost all, cash withdrawals are made from an ATM. To use these "DAB", impossible to do without a bank card, free in some banks , but most often paying. Another small, less well-known line in the tariff brochures also generates an additional cost: inappropriate withdrawal fees, which have been rising sharply for several years.
Most, if not almost all, cash withdrawals are made from an ATM.
What are paid cash withdrawals?
Withdrawing money from an ATM of your own bank is always free. It is also possible to take advantage of this advantage by withdrawing money from another bank of the same financial group, for example from Caisse d'Epargne for customers of Banque Populaire (BPCE group). On the other hand, fees may be applied to so-called "moved" withdrawals, that is to say, withdrawals made in a bank other than his own.
In fact, 90% of French banks have chosen to charge for this operation, with the first x operations free per month. Therefore, the customer of a bank A who withdraws from a bank B is likely to pay bank charges if he exceeds these quotas… which are increasingly low, for an increasingly high unit cost!
How much does a relocated withdrawal cost?
Changes in the cost of displaced withdrawals should be analyzed over several years. Also, the financial information site MoneyVox studied data from 159 brands over a period of 10 years, from 2013 to 2022. In 2013, the number of banks that charged inappropriate withdrawal fees was 91.1%, before falling to 85.9% in 2019, then rising to 90% in 2022. only 3.01 in 2022. And the effect is all the greater since the average unit price of a withdrawal from another bank has gone from €0.90 in 2013 to €0.92 in 2022, whereas it had reached a low in 2015 with €0.83 per transaction.
Most, if not almost all, cash withdrawals are made from an ATM. To use these "DAB", impossible to do without a bank card, free in some banks , but most often paying. Another small, less well-known line in the tariff brochures also generates an additional cost: inappropriate withdrawal fees, which have been rising sharply for several years.
What are paid cash withdrawals?
Withdrawing money from an ATM of your own bank is always free. It is also possible to take advantage of this advantage by withdrawing money from another bank of the same financial group, for example from Caisse d'Epargne for customers of Banque Populaire (BPCE group). On the other hand, fees may be applied to so-called "moved" withdrawals, that is to say, withdrawals made in a bank other than his own.
In fact, 90% of French banks have chosen to charge for this operation, with the first x operations free per month. Therefore, the customer of a bank A who withdraws from a bank B is likely to pay bank charges if he exceeds these quotas… which are increasingly low, for an increasingly high unit cost!
How much does a relocated withdrawal cost?
Changes in the cost of displaced withdrawals should be analyzed over several years. Also, the financial information site MoneyVox studied data from 159 brands over a period of 10 years, from 2013 to 2022. In 2013, the number of banks that charged inappropriate withdrawal fees was 91.1%, before falling to 85.9% in 2019, then rising to 90% in 2022. only 3.01 in 2022. And the effect is all the greater since the average unit price of a withdrawal from another bank has gone from €0.90 in 2013 to €0.92 in 2022, whereas it had reached a low in 2015 with €0.83 per transaction.
The conclusion is clear: more and more banks are charging inappropriate withdrawal fees, at higher prices and with increasingly low free thresholds. For example, many Crédit Mutuel regional banks have chosen to halve the number of free withdrawals moved per month in 2022: from 4 transactions, customers now only benefit from free withdrawals on 2 withdrawals at another bank.
Why such a jump in inappropriate withdrawal fees?
Banks that do not charge fees for inappropriate withdrawals and do not follow the current trend are rare. And for good reason: when a customer of bank A withdraws money from bank B, bank A must pay an Interbank Withdrawal Commission (CIR) to bank B. Fees which were revalued in 2020 to 89 cents per transaction, an exponential increase of 56% that the banks passed on to their customers. The objective of this increase? Compensate for the drop in the number of cash withdrawals and the rise of online banks. By definition, the latter do not have automatons and are therefore based on large traditional networks. On the other hand, most online banks do not charge inappropriate withdrawal fees to their customers.
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