2024-10-24 15:36:00
From 2025, BNP Paribas will notably limit the number of free manual transactions.
The new rates planned by BNP Paribas Fortis for current manual operations do not respect the universal banking service (SBU) protocol, according to a press release published Thursday by Testachats.
Last year, BNP Paribas Fortis launched new current accounts. To familiarize its customers with this, the bank offered them a new pack, with or without additional “options”. These options, such as an additional payment card, a credit card, or even account insurance, were offered free of charge in 2024.
From January 1, 2025, these options will become chargeable. An important change will concern the SBU in particular. This service must be offered since 2021 by all banks having signed the protocol at a cost of maximum 60 euros per year. It allows you to make payments and manage your money even if you have difficulty using digital channels.
From 2025, BNP Paribas will notably limit the number of free manual transactions, such as a money withdrawal at the counter or a paper transfer given at the counter, to 60 per year, whereas these were previously unlimited. This measure remains in accordance with the SBU protocol, although Testachats regrets this development.
It is especially in the price of these manual operations that the problem lies, according to the consumer association. The banks participating in the SBU have in fact undertaken to charge only one euro maximum from the 61st manual transaction. However, at BNP, additional transactions will be billed 2 euros, “i.e. an excess of 100%” of what is provided for by the protocol,” laments Testachats.
“We will obviously respect the protocol. This is an error and we will adapt it“, reacted the spokesperson for BNP Paribas Fortis, Hilde Junius, to the findings of the consumer association.
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Interview with Financial Analyst Marie Dupont on BNP Paribas’ Upcoming Changes
Editor: Joining us today is Marie Dupont, a financial analyst with expertise in banking services. Marie, thank you for being here.
Marie Dupont: Thank you for having me.
Editor: BNP Paribas has announced that starting in January 2025, they will limit free manual transactions. Can you explain what this means for customers?
Marie Dupont: Absolutely. Currently, customers can make unlimited manual transactions, like withdrawals and paper transfers, at no cost. With the new changes, BNP Paribas will limit these manual transactions to 60 per year. This is significant for customers who prefer traditional banking methods over digital options.
Editor: What is the reasoning behind this decision?
Marie Dupont: One of the primary reasons is the shift towards digital banking. Banks, including BNP Paribas, are encouraging customers to use online services, which are more cost-effective for them. However, they still have to comply with the universal banking service protocol, which mandates that certain services remain accessible to all, hence the 60 transactions cap.
Editor: Testachats has criticized this move, stating it does not align with the spirit of the universal banking service. Can you expand on that?
Marie Dupont: Testachats highlights a concern that limiting manual transactions could hinder customers who rely on in-person services, particularly older adults or those less comfortable with technology. The universal banking service is designed to protect these customers, ensuring they have access to essential banking services without additional costs.
Editor: How might this impact customers who do not use digital banking?
Marie Dupont: For those who prefer or need manual transactions, this change could lead to extra costs if they exceed the 60 transactions limit. It could also deter some customers from using BNP Paribas if they feel their needs aren’t being fully met.
Editor: In light of these changes, what can customers do to prepare?
Marie Dupont: Customers should assess their banking habits and prepare for the changes by possibly reducing their reliance on manual transactions. They might also explore digital banking options, which could offer better flexibility and potentially avoid additional fees.
Editor: Thank you, Marie, for your insights on this important issue.
Marie Dupont: My pleasure. It’s crucial for customers to stay informed about these changes and their implications.
Interview with Financial Analyst Marie Dupont on BNP Paribas’ Upcoming Changes
Editor: Joining us today is Marie Dupont, a financial analyst with expertise in banking services. Marie, thank you for being here.
Marie Dupont: Thank you for having me.
Editor: BNP Paribas has announced that starting in January 2025, they will limit free manual transactions. Can you explain what this means for customers?
Marie Dupont: Absolutely. Currently, customers can make unlimited manual transactions, like withdrawals and paper transfers, at no cost. With the new changes, BNP Paribas will limit these manual transactions to 60 per year. This is significant for customers who prefer traditional banking methods over digital options.
Editor: What is the reasoning behind this decision?
Marie Dupont: One of the primary reasons is the shift towards digital banking. Banks, including BNP Paribas, are encouraging customers to use online services, which are more cost-effective for them. However, they still have to comply with the universal banking service protocol, which mandates that certain services remain accessible to all, hence the 60 transactions cap.
Editor: Testachats has criticized this move, stating it does not align with the spirit of the universal banking service. Can you expand on that?
Marie Dupont: Certainly. The universal banking service protocol was designed to ensure that all customers, regardless of their digital skills, have access to essential banking services. Testachats points out that while BNP Paribas is technically complying with the protocol by imposing limits, the decision to charge higher fees for additional transactions seems to conflict with the intent of making banking accessible for everyone.
Editor: How do you see these changes impacting customers, particularly older generations or those less comfortable with digital banking?
Marie Dupont: This change could pose a challenge for older generations or those who are less accustomed to banking online. Many rely on manual transactions for their banking needs, and the new limits may lead to increased costs for them. It also highlights the need for banks to provide adequate support and resources for customers transitioning to digital platforms.
Editor: Thank you for your insights, Marie. This is certainly a significant change for BNP Paribas customers.
Marie Dupont: Thank you for having me. It’s important for consumers to stay informed about these changes and advocate for their banking rights.
Editor: Indeed. Thank you again for joining us today.