MoneyVox’s new ranking of the cheapest online banks is here. Find out who offers the most attractive rates according to 3 typical profiles this month of April. Surprise, you could save up to 251 euros in bank charges per year!
Looking for ways to reduce your banking expenses? You are in the right place. Throughout the year, MoneyVox examines the rates of 127 online and traditional banks, comparing them for three typical profiles: classic, young and premium. The goal is simple: to help you find the online bank offering the best value for money, based on your specific needs. Find out how to save up to 251 euros per year on your bank charges this month of April.
Comparison of the cheapest banks in April 2024
The young profile
Let’s start with the young profile. It corresponds to a customer under 25 years old, earning around 800 euros per month. He has a systematic authorization or immediate debit card, makes two monthly withdrawals from his bank, 3 operations outside the euro zone per year, and 12 occasional internet transfers per year.
If you recognize yourself in this profile, know that you can benefit from a bank account without no annual fees at three online banks: Fortuneo, Revolut and BoursoBank (formerly Boursorama Banque). If none of these three options convinces you, you can also turn to N26, which comes in fourth place with an annual fee of only 1.70 euros.
The premium profile
Let’s move on to the premium profile, where Fortuneo and BoursoBank once again share first place with equivalent annual fees 0euro. Hello bank then makes a surprising entry into third position, with annual fees of 86.50 euros. BforBank, which has long occupied third place for this profile, has been dethroned because it no longer offers overdraft authorization, no longer meeting the needs of this customer.
As a reminder, this customer has a monthly income of around 3,000 euros, uses a high-end debit card (Visa Premier or Gold Mastercard), has means of payment insurance, travels once a year outside the euro zone (spending 1000 euros per card), and has an authorized overdraft of 2000 euros, which he never uses.
The classic profile
Finally, to represent the majority of customers, MoneyVox has defined the profile of a classic customer with standard banking needs. This customer receives a net monthly income of 1700 euros, uses an immediate debit bank card, makes a few cash withdrawals, and travels abroad once a year. He also has an overdraft authorization of 900 euros, exceeded twice a year.
Once again, BoursoBank and Fortuneo are at the top of the ranking for this profile, with annual fees of only 2.78 euros. Just behind, it is not Revolut but Orange Bank which takes third place, with annual fees of 18.98 euros. However, Orange Bank is preparing to cease its activities and has signed a referencing agreement with BNP Paribas to allow its customers to benefit from a simplified process for transferring their accounts to Hello bank. Online banking has risen to fourth place in our ranking for this profile, with annual fees of 92.86 euros.
Closure of Orange Bank: Is the Hello bank bank card also interesting?