Let’s go for the traditional MoneyVox ranking of the cheapest online banks! Currently, it is possible to pay 0euro annual bank fees. So who is the cheapest online bank on the market in February?
If you want to pay less bank fees in 2023, this article is written for you. Classic, young, premium… Three different customer profiles and a panel of 129 banks are studied by MoneyVox to enable you to find the most competitive online bank on the market according to your needs. And often, online banks will turn out to be cheaper than their competitors.
For a classic profile
As its name suggests, the classic client has simple banking needs, with a situation that can correspond to the largest number. Our profile is based on a client with an income of 1700 euros per month, an immediate debit bank card, a limited need for cash withdrawals, and one trip abroad per year.
For this profile, two online banks hold the upper hand. Boursorama Bank and Fortuneo are the cheapest in February, both charging an annual fee of 2.78 euros for this typical customer. Third place currently belongs Orange Bankwith an annual cost of 24.98 euros (about 2 euros per month).
For a young profile
Let’s continue with the young profile. Here, our young client is under 25 years old, earns approximately 800 euros per month, a bank card with systematic authorization (or immediate debit), a need for instant transfers, and a few transactions outside the euro zone during the year.
This time, three online banks stand out, offering the free of bank charges our young customer: it is Revolut, Boursorama Bank and Fortuneo. Next comes online banking in fourth place N26with an annual fee of 13.58 euros.
For a premium profile
Finally, let’s discover the results for a premium profile. Here, our premium customer earns around 3,000 euros per month, wishes to have a top-of-the-range deferred debit card, and to have payment means insurance. It should be noted that he also travels regularly outside the euro zone (around 1,000 euros in card payments per year). He also has an authorized overdraft of 2,000 euros, which he never exceeds.
Again, Fortuneo and Boursorama Bank share first place on the podium for the premium profile, with 0euro annual fee. The third online bank comes far behind with 64.14 euros in fees, it is BforBank.
You are perfectly free to change establishment for a less expensive bank, there is no need to justify yourself. To do this, do not hesitate to use the bank mobility mandate, a free procedure offered by banks, aimed at simplifying the transfer of bank accounts.
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