Under what situations can my bank cost me incident fees and are they not restricted?
Following one in all our research, bank incident prices quantity to almost € 7 billion per yr and generate almost € 5 billion in revenue for banks. 25% of account holders are affected, notably the most weak teams. The principal incident prices relate to intervention commissions (which can apply every time your account exceeds the approved overdraft), rejections of direct debits or transfers, unhealthy checks and the various kinds of paying letters that the bank will ship you to inform you. We should add the agios for the overdraft, whether or not approved or not.
All these prices should be introduced to your consideration in the doc that the bank should ship you every year. As for the fees charged, they need to seem clearly in your month-to-month account assertion and an annual abstract should be despatched to you.
Intervention fees (which might be repeated as many occasions as an overdraft transaction takes place in your account) are capped at € 8 per transaction and € 80 monthly. Know that your overdraft might be remodeled into shopper credit score and that the bank should provide it to you in case your overdraft exceeds € 200 over three consecutive months. In the occasion of rejection of a direct debit or switch, the bank could cost you fees, the quantity of which is capped at the quantity of the transaction whether it is lower than 20 € and 20 € if the quantity is greater.
In the occasion of a nasty verify, the bank should inform you of the rejection of the verify (prior info which can be billed to you) and offer you 14 days to regularize. If you don’t do that, the bank will apply you a cost for unhealthy checks, the quantity of which is capped at 30 € for a verify whose quantity is lower than 50 € and at 50 € for any greater quantity. In addition, the bank, if you don’t regularize, will place you in banking ban.