After remaining almost stable during 2023, in a context of high inflation, the prices of banking services increased during the first half of 2024.
The main banking rates experienced a “controlled” increase from 2022 to 2024, because it was lower than inflation, noted the Financial Sector Advisory Committee (CCSF) in its annual study on the subject published Thursday. After remaining almost stable during 2023, in a context of high inflation, the prices of banking services increased during the first half of 2024, according to this study carried out on a panel of 100 establishments, representing 98, 9% market share.
Account maintenance fees (+5.81%), provision of an international debit card (from +3.24% to 3.29%), occasional branch transfer (+5.04%)… this there are a total of seven products which have increased thanks to the 2024 price scales of banks, out of the 14 scrutinized by the Observatory of Banking Prices (OTB), which depends on the CCSF.
“According to the INSEE index, the prices of banking services increased by 3.0% between June 2023 and June 2024, compared to 2.2% for general inflation. Over two years, this increase, however, remains under control, because the increase prices of banking services from June 2022 to June 2024 (+ 2.9%) is well below inflation over the same period (+ 6.8%) And over a longer period, from June 2014 to June 2024. , the increase in the prices of banking services is also lower than inflation”, tempers the study.
Sharp drop in incident costs
OTB members noted a sharp drop in the prices of the specific offer intended for populations in situations of financial fragility (OCF) as well as incident fees applied to customers holding this offer. As of April 5, 2024, of the 99 establishments offering a specific offer for customers identified as financially fragile, 97 display a price of 1 euro or less per month (8 of which are free). Incident fees have also been greatly reduced, and even completely eliminated in 56 establishments for customers holding the OCF.
Concerning overseas banking rates, the OTB notes a reduction in tariff differences in the territories of the euro zone as well as the Pacific territories with those of France due to higher increases in banking rates in France .
“The 2024 Banking Rates Observatory report illustrates the moderate trajectory of changes in banking rates in the context of high general inflation which has marked the last 2 years,” commented the French Banking Federation.
