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MIL OSI Translation. Government of the Republic of France statements from French to English –

Source: Republic of France in French The French Republic has issued the following statement:

Home Individuals >News >Reduced bank fees for fragile customers

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Posted on 05 August 2020 – Directorate of legal and administrative information (Prime Minister)

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From November 1, 2020, bank charges will be capped from 5 irregularities or incidents in the same month. Fragile customers will benefit from the ceiling of € 25 per month for a fixed period of 3 months. A decree published in the Official Journal on July 22, 2020 specifies what a fragile customer is and regulates the costs related to payment incidents.

A customer will be considered fragile in the following cases:

if he accumulates 5 irregularities or payment incidents during the same month and no longer only as a result of account operating irregularities or payment incidents repeated for three consecutive months:
if his over-indebtedness file is being processed and no longer only if he is in a situation of over-indebtedness;
if it is registered for 3 consecutive months in the Banque de France file centralizing check payment incidents.

A fragile customer will see their bank charges capped at € 25 (or € 20 if they benefit from a specific “fragile customer” offer from their bank) for 3 months instead of a shorter duration which varies depending on the banking institution.

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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.

MIL Translation OSI