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France’s New Cap on Bank Succession Fees Takes Effect as Most Lenders Lag Updates

MoneyVox reports that three quarters of institutions had not posted compliant tariffs by late October.

Overview

  • The law effective 13 November introduces cases of gratuity for minors and small estates and sets a 1% ceiling on remaining succession charges.
  • MoneyVox reviewed 123 banks’ tariff leaflets and found only 34 had updated schedules by 24 October, indicating widespread delay in preparation.
  • Banks must inform customers of any tariff changes at least two months before applying them, a requirement that frames questions about timely compliance.
  • Some institutions are preserving revenue by using areas outside the cap, notably treating PEA and securities accounts as complex and billable, with CIC and many Crédit Mutuel branches raising the total ceiling from €850 to €1,000 when a PEA is present.
  • Examples of new or separate line items include €9.50 charged by Caisses d’Epargne Languedoc-Roussillon and Île-de-France for bill payments on heirs’ request and €33 per year by Crédit Agricole Aquitaine for reissuing succession account statements.