Since the 1970s, owning a bank account and means of electronic payment has become an absolute necessity to live normal lives in France. With the privatization of banks in the 1980s, the State has transferred to banks the social responsibility to serve the entire population, which has unfortunately led to different forms of banking exclusion. Despite legislation to mitigate this, the situation continues, with extremely negative consequences for the families concerned.
In a study by UNAF (Union Nationale des Associations Familiales), led in partnership with National Institute on Consumption (INC), UNAF has examined the different fees charged in case of unauthorized bank overdrafts: additional services, cheque refusal, notification services and more. And all these are on top of the actual overdraft interest fees. These punitive costs add up and send families into endless difficulties. UNAF highlights challenges and also proposes solutions to better protect families.
The full title of the study is: «Frais d’incidents bancaires: enquête sur les pratiques des banques – Comment lutter contre l’exclusion bancaire?».
More information here (in French)