Despite a year marked by the health crisis, a study by Panorabanques revealed by Le Parisien shows a slight decline in bank overdrafts. This year, 46% of French people were overdrawn at least once, compared with 51% in 2020.
An average annual bill of 232 euros
The study shows that 46% of French people are overdrawn at least once a year, including :
- 19% every month,
- 13% every quarter,
- 15% once a year.
The situation has improved compared to last year, with the average overdraft amounting to 232 euros, 14 euros less than in 2020.
According to Panorabanques, respondents cited three main reasons for bank overdrafts:
- an overall difficult situation (36%),
- a major unforeseen expense (34%),
- inattention to account management (23%).
The French are unequal when it comes to bank overdrafts
There are major inequalities between the French when it comes to overdraft. Indeed, while 58% of French people with children claim to be in the red at least once a year, "only" 39% of those without children do so. Similarly, 51% of 18-34 year-olds are in an overdraft situation at least once a year, compared to 38% of those aged 66 and over. Finally, the most modest households, with incomes of no more than 1,500 euros a month, are logically more affected (50%) than those earning more than 3,000 euros a month (34%).
In its study 1 in 2 French people are still overdrawn in 2021, Panorabanques also reveals that almost 80% of French people have an overdraft authorization, but 49% of those who are overdrawn exceed it at least once a year. The average amount exceeded was 284 euros in 2021, compared with 295 euros in 2020.
Bank overdrafts are expensive
Most banks charge for the simple act of requesting an overdraft authorization. In fact, this operation generally costs 10 euros per year. To this must be added fees for using the authorized overdraft, with an annual nominal rate varying from 7% to 15%, depending on the bank.
An unauthorized overdraft is even more expensive, because you have to take into account :
- intervention fees capped at 80 euros per month,
- the information letter for unauthorized debit accounts at 10 euros per month,
- agios, the nominal rate of which varies between 16% and 21% of the amount of the unauthorized overdraft.
To reduce the bill, it is advisable to negotiate the overdraft authorization or choose a bank that offers free intervention fees. This is particularly true of Boursorama Banque and Fortuneo.