We’ve already told you about things that teachers, doctors, pilots and flight attendants aren’t allowed to do, now it’s the turn of the much-loved and cherished ones… Bankers! If they obviously have the right to become President of the Republic, there are plenty of other little things that are strictly forbidden to them! Take out your notebooks and take notes, it could be useful to you. (Don’t really take notes, eh. It’s the magic of the Internet: you can find this top whenever you want. I know, it’s totally crazy.)
1. Exceed a certain fee amount
8 euros per transaction and 80 euros per month in the event of an overdraft, according to law no. 2013-672 of July 26, 2013. In the context of rejection of checks or direct debits, the ceilings are set at: 30 euros for a check less than or equal to 50 euros, 50 euros for an amount greater than the same number or 20 euros for any incident due to another means of payment. This time, the rule is governed by decree n° 2007-1611 of November 15, 2007. To all the friends I have heard say “I took 200 bales of fees because of my overdraft”, two solutions: you are big mythos OR vote banker does not super legal stuff…
2. Close your current account overnight
Before closing your bank account, the person in charge is obliged to send you a notice. This is part of the information obligation. According to the law, this period must be at least 2 months before closing the account. » This period is designed so that the customer has time to open another account and carry out the last operations useful for the continuity of your accounts.
3. Rejecting a check for lack of funds without telling you
As much as your banker has the right to reject a check for lack of funds (= because you don’t have enough money in your account), he has no right to do so without notifying you, so as to avoid a banking ban. This condition is governed by Article L. 131-73, paragraph 1, of the Monetary and Financial Code ” The banker can after informing by any appropriate means made available by him the account holder of the consequences of lack of funds, refuse payment of a check for lack of funds“.
4. Granting a loan with an unreasonable rate
Since April 1, 2022, the usury rate has been set at 21.11% for a loan of an amount less than or equal to 3,000 euros, at 4.93% for a loan of an amount greater than 6,000 euros or at 2.40% for a fixed rate mortgage with a term of 20 years or more, for example. Lending beyond this rate is an offence, punishable by a fine of €45,000, two years in prison and restitution of the excessive sums received. The detail of all the wear rates established according to the loan contracted just below!
5. Arbitrarily closing a PEL
So it all depends on the situation! Let’s imagine that you are overdrawn, and that your adviser decides of his own free will to transfer the money from your PEL to your current account to restore the situation… It’s totally illegal! The bank cannot close this savings account without your consent. On the other hand, the ELP is subject to two obligations: paid a minimum of €540 annually into the account, and this, during the first 10 years; not to exceed the total limit of payments of €61,200. If you fail to meet these obligations, it is then considered a breach of contract, which, in the long term, can legally lead to the closure of the PEL.
6. Disclose personal data
Holding and disclosing information are two very different things (but no?)! If, in law, there is no problem in your banking establishment having a lot of information about you, your banker obviously has no right to communicate it to anyone! This is also one of the principles of French law, provided for by the law of January 24, 1984 relating to the activity and control of credit institutions. It goes without saying, huh, but a little booster shot never hurts.
PLEASE NOTE, there are a few specific situations defined by law that break this lock: a judicial requisition, for example.
7. Charge without warning
If the costs incurred are of one of these natures, then the law is clear: your bank is obliged to inform you beforehand of the prices of the operations, and to warn you before modifying or increasing certain services. A rule defined by Decree No. 2014-739 of June 30, 2014 relating to the prior information of the consumer in terms of bank charges (which is good with the law, it is really the spirit of synthesis and popularization in titles. Sounds like a poem, right?).
8. Refuse a refund in the event of credit card fraud
In fact, the law is quite specific: you must be physically in possession of your card at the time of the dispute so that your responsibility is not engaged, and therefore, that the bank recredits you the stolen sum. In short, the theft must take place by fraudulent remote payment, without material use of your credit card, or that the latter has been counterfeited. In these cases, your bank cannot refuse you a refund, or charge you a fee for the transaction. The payment must be made maximum one month after receipt of the dispute.
9. Claim repayment of a bridging loan after two years
The bridge loan is a somewhat special loan: designed for people wishing to acquire a property before having succeeded in selling theirs, it constitutes a partial advance, equivalent to the theoretical amount of the accommodation put up for sale. It is a short-term solution, lasting 12 to 24 months, renewable once. According to Appeal No. 18-15.885 from the Court of Cassation, ” a bridging loan reimbursable in one installment following a total deferral, the payment action is time-barred from the date on which the repayment of the capital and interest due but not called became due. ». Basically: when the period has expired and the prescription is acquired: no more payment can be claimed.