The National Assembly adopted this Thursday, February 29, a proposed PS law aimed at reducing and regulating bank charges on inheritance, with the support of the government. Exemption for small inheritances, elimination of fees in the event of the death of a child… which will change.
1 – What are the bank charges involved?
Bank charges on small inheritances. The bill from the PS group and carried by MP Christine Pirs-Beaune plans to establish a ceiling of 5,000 euros: as long as the deceased customer has less than 5,000 euros in the bank, on all of his accounts, then the establishment will no longer have the right to invoice for processing the estate or for any other reason.
Limitation of inheritance costs above 5000 euros. Beyond this ceiling, if the bill is definitively adopted, then banks will be limited in the volume of fees charged. For how much? A decree taken after consulting the Advisory Committee on Financial Legislation and Regulation determines the terms and conditions for capping these costs.
Fees taken from the accounts of a deceased minor. Following the addition of an amendment in the Finance Committee, the bill also provides for a total and unconditional exemption of amount for accounts whose holder was a minor at the time of death.
A total and unconditional exemption of amount for accounts whose holder was a minor at the time of death
2 – Does the proposed PS law have a chance of being definitively adopted?
Yes. Great chances even. The text was first enriched and then voted unanimously in the Finance Committee of the National Assembly on Wednesday February 14. This Thursday, February 29, it was adopted unanimously in plenary session of the National Assembly.
But the text must still pass through the Senate, then be supported by one or more implementing decrees taken by the government. But the Minister of Economy and Finance Bruno Le Maire spoke out last week for the elimination of fees charged in the event of the death of a minor. A provision which has been integrated into this bill. In short: all the lights are green for its implementation.
When could this text be applied? There, suspense… The day after the promulgation of what could become a law… But the parliamentary shuttle is only in its beginnings, so it is difficult at this stage to affirm that the changes will take place from 2024.
3 – Which banks are ahead of the (probable) future law?
From Friday March 1, 2024, Crdit Mutuel (at least the 14 funds of the Federal Alliance) and the CIC will eliminate processing fees and other levies on inheritances for which the assets held in the bank are less than 10,000 euros, or more of half of the inheritance files, specifies the banking group in a press release released in mid-February. For amounts greater than 10,000 euros, the mutual group will only charge administrative fees of 1% up to a ceiling of 1,000 euros.
Before Crdit Mutuel, only the online bank BoursoBank and two regional Crdit Agricole banks did the same. Other banks are expected to follow soon if the bill is adopted.
Crdit Mutuel, BoursoBank… These banks which eliminate fees for small inheritances
As for the absence of fees levied on inheritances following the death of a child, despite the goodwill speeches of several establishments (starting with La Banque Postale where an inheritance was controversial in 2022), only 48 banking establishments out of 128 explicitly state that they have put an end to this practice, according to our pricing statement carried out at the end of February by MoneyVox. Hence the interest in using the law to definitively put an end to these practices.
Inheritance bank fees: the broken promise of banks
A report on estate bank charges. The bill also provides, following the vote on an LR amendment in the Finance Committee, the submission to Parliament by the government of a report quantifying the average amounts withdrawn and the gains actually received by the banks in respect of banking fees. succession.
How much do inheritance fees cost?
in your bank?
Bank of the deceased
Amount of estate assets: €
The bank charges for estate management will amount…
€*
More details on inheritance fees
* Calculations carried out for the estate of a deceased adult completed quickly (less than one year); the bank account of the beneficiary of the funds is domiciled in another establishment than that of the deceased. “-” if calculation impossible: lack of data, pricing structure too complex, etc.
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