Cheapest banks in France 2020, by annual banking fees

According to a study from 2020, the cheapest bank in France at that time was Boursorama Banque, which collected 26.41 euros of annual charges. In second and third position were Fortuneo and ING. These three institutions were virtual banks, relying completely on online banking services. From 2008 to 2018, the share of the French population using internet banking services increased from 40 to more than 60 percent.  

Online banking practices

  Online banking, an electronic banking system, allows customers to carry out payments and various transactions using the Internet, and can be both part of traditional financial institutions’ services and virtual banks. Among French people aged 25 to 34 years old, almost 80 percent used online banking. In addition to this, it appears that 40 percent of French surveyed in 2018 declared having downloaded the banking app of their bank on their mobile phone.   

Digital payments and FinTech

  Online payment methods appear to be rather popular among French consumers. According to a study conducted in France in early 2018, half of the respondents said having used online payments services and about a third had employed payment services between individuals. Statista’s Market outlook on the FinTech market reports that the digital payments segment amounted to more than 71 billion euros for the year 2018.

Ranking of the cheapest banks in France in 2020, by annual bank charges

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Release date

June 2020



Survey time period

June 1, 2020

Supplementary notes

The source added the following information: "In order to make the price comparison offered on this page, for several services, we had to create a representative price list that takes into account the particularities of each bank: free of charge for certain transactions above a certain threshold (or, on the contrary, up to a certain threshold); maximum billing limit for multiple transactions, per day, per month or per year... In the same way, when a service is not offered or its price is unknown, it is replaced either by the maximum amount practiced by the other institutions when this tariff should be present in the brochure, or by the average value practiced in order to neutralize it, or by a nil value for an absent investment. Warning: some banks only accept new customers on condition that they meet certain income or payment criteria. This is most often the case with online banks to obtain a free card".

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