A new study published this week by The Parisian brings to light a striking observation. At least once a year, 1 in 2 French people say they are in the red on their bank accounts. The overdraft affects many more people than you might think and it pays off big for the banks.
The agios fees, which include intervention commissions, are a real godsend. From 8 euros per day at many banks, they can go up to 80 euros per month in fees if the customer remains in debtor account for 10 days. A real fear when these costs always end up worsening the situation of the customers concerned.
This policy of overcharging has not gone away despite increasingly strict regulations concerning it in recent years. Fortunately, online banks have chosen to make an effort against traditional establishments and several offers allow an authorized overdraft in which the customer will not pay any fees. A good opportunity to change banks.
Some, like Boursorama Banque, also charge very low rates in addition. Rather than more than 16% in some, the online bank limits its customers to a rate of 7%. Among neobanks, the authorized overdraft is not yet available as these establishments lack the authorization to extend credit.
What to do with overdraft?
With inflation, the study reveals that more and more households would be in the red. And the share of overdrafts between 100 and 299 euros would still represent 40% of French people. The average amount would also amount to 239 euros. A figure that has increased by 7 euros in one year. The fault of “an overall difficult financial situation” Explain The Parisian. Finally, they would be one in 5 French people to end up with a debit account each month.
At less than 250 euros of overdraft, several online banks will be very useful to you so as not to pay an intervention commission and to have a reduced overdraft rate. These are Boursorama Banque, Hello Bank, Fortuneo and BforBank, which offer their customers the ability to negotiate an authorized overdraft of 250 euros regardless of your customer profile.
Then, depending on your income or assets, you can trade this overdraft again to increase it. At Boursorama, it can reach 1,000, 2,500 or even 10,000 euros depending on your bank card. At Hello Bank, it is possible to request an overdraft facility, which corresponds to a cash loan operating in the same way as an authorized overdraft.
The solution of neobanks to avoid overdrafts
Not all online banks offer brokerage fees. Monabanq charges them the same as traditional banks, a point to take into account when looking for the best online bank according to your criteria. Then, on the side of the neobanks, there is not yet any availability of overdrafts but at the same time, it is not possible to be overdraft.
Indeed, neobanks like Revolut, N26 and the Nickel account do not offer a card allowing you to be overdrawn. Bank cards with systematic authorization are cards that require you to have enough funds in your account to be able to validate the transaction.
For example, if you only have 20 euros in your account and you want to pay something 50 euros, you will not be overdrawn by 30 euros – you simply cannot complete the transaction. A system with its advantages and disadvantages, you will understand.