Posted on Dec 15, 2019 2021 at 19:22Updated Dec 16, 2019 2021 at 15:29
“Error by the Competition Authority in your favor. This is in substance the message sent to the banks by the Court of Appeal of Paris, which delivered at the beginning of December a capital decision in the file of the commissions of “exchange image check”. As a result, a dozen French establishments will be reimbursed nearly 400 million euros.
Back in the early 2000s, at a time when checks still represent more than a third of payments in France (excluding cash), against 5% in 2020. Taking advantage of the change from the franc to the euro, banks are starting to digitize the exchange of interbank checks (when the issuing bank is not the same as the beneficiary bank).