Neobanks and banking fees

You are tired of paying money exorbitant bank charges every year to your traditional bank? The solution is to adopt neobanks and online banks. Between account maintenance fees, intervention commissions and agios for overdraft, your traditional banker does not hesitate to regularly puncture your account. result: tens or even hundreds of euros swallowed up which significantly reduce your purchasing power.

However, there are concrete solutions to put an end to this waste of money and regain control of your finances. By adopting neobanks and 100% online banks, you can make your bank charges melt like snow in the sun. Discover in this article how these new online banking players make it possible to reduce its bank spending drastically. Thanks to their flexible offers and their ultra-competitive rates, no more unpleasant surprises at the end of the month with your traditional banker.

Finance de Demain reveals all the tips to change your banking habits and make serious savings. Ready to keep more money in your wallet? But before you start, here are how to get out of debt? Let's go!

What bank charges should you watch out for?

Bank charges refer to all sums withdrawn by a bank. These samples are taken from customer accounts, whether private or professional. They are collected in exchange for the services provided by the bank for manage customer account. These are therefore commissions received for administrative management of the bank account. Their amount remunerates the various tasks carried out within the framework of this management. These fees cover both private and professional customers.

First of all, let's take a quick look at the main bank charges to pay attention to:

The account maintenance fees, billed annually just for account management
The intervention commissions, levied for each particular transaction
setup costs of a standing order or direct debit
The cost of the bank card, in particular deferred debit or Gold cards
fees for sending the checkbook and paper account statements
Agios for overdraft unauthorized or account irregularities

Over a year, these fees can easily exceed a hundred euros in traditional banks. It is time to save money !

Neobanks, the new 100% mobile banking wave

In recent years, young 100% online banking startups have emerged to offer a different approach to banking: these are the neobanks. Their strengths? Flexible banking services via a mobile application, ultra-low fees and a simplified customer experience.

N26, Revolut, Orange Bank, Hello Bank... these neobanks meet a resounding success with young urbanites, attracted by their ease of use and low prices. Let's take a closer look at the advantages of these newcomers.

✔️ The strengths of neobanks

Unbeatable rates, even a completely free basic offer
100% mobile: account opening and management via the application
No income condition: accessible to all profiles
No account fees or credit card fees
Foreign transactions at the Mastercard exchange rate
Instant transfers free between users
New options like shared pools

Clearly, neobanks offer a very good value for money for a flexible and modern banking experience. Something to appeal to young mobile customers.

✔️ Limits to consider

Certainly promising, neobanks nevertheless have some limitations:

Little or no physical agencies at all
Customer service only accessible online via chat or email
Limited range of savings and investment products
Reduced card and transaction insurance
Applications sometimes still perfectible on certain points

Neobanks are therefore more suitable as a secondary account or for a well-defined use.

Online banks, the alternative to traditional banks

In addition to neobanks, 100% online banks such as Boursorama Banque, ING, Hello Bank, Monabanq are an interesting option to substantially reduce your bank charges. Overview of their assets.

✔️ Why switch to online banking?

Personalized low rates : no or little account maintenance fees
A large network of free vending machines
A complete range of savings and investment products
Responsive customer service by email, chat and phone
management 100% digital if you wish it

Online banks combine low costs and comprehensive services. An excellent compromise for many.

✔️ What are the disadvantages of online banking?

However, online banks have some restrictions:

Very few physical agencies, located in major cities
Sometimes long telephone waiting times to reach customer service
Account opening procedures still complex
Offers somewhat more limited credit than in traditional banks
Mobile applications not always very ergonomic

However, their advantages in terms of tariffs remain undeniable compared to traditional networks.

How to select your neobank or online bank?

Choosing a neobank or an online bank can seem complex, but by taking into account a few key criteria, you can simplify your decision. First of all, it is essential to define your financial needs. For example, if you are looking for daily budget management, some neobanks offer very powerful analysis and expense tracking tools. Others may be more suitable for savings or investments.

Next, look at the fees associated with each option. Neobanks are often known for their low or no fees for everyday transactions. However, some may charge fees for specific services, such as overseas withdrawals or international transfers. Compare these fees to assess which option is best for you.

Security is also a crucial aspect. Make sure that the neobank or online bank you choose has robust security measures, such as two-factor authentication and personal data protection. Also, check if it is regulated by a recognized financial authority, which guarantees some protection for your funds.

Finally, don’t forget to consider the quality of customer service. In the digital world, it’s important to have access to effective support, whether it’s via chat, phone, or email. Read reviews from other users to get an idea of their experience with the customer service of the bank you’re considering.

Difference between neobanks and online banks

Online banks have been around for the 1990s, while neo-banks have appeared much more recently, after 2010. Online banks have therefore been operating on the market for a longer time. They have developed with the advent of the internet and online services. Neobanks are players very recent in the banking landscape. These are fintechs, startups that offer innovative banking services. They have been able to take advantage of new technologies such as mobile.

Online banks generally depend on large traditional banking groups. They are part of their diversification strategy distribution channels. Conversely, neobanks are independent entities who seek to revolutionize the banking sector.

Furthermore, neobanks are only available online via mobile applications. Their services are 100% paperless. Some online banks still have physical branches in addition to their remote offering. Neobanks target in priority a young clientele, urban and mobile. Online banks are aimed at a wider target, with customers of all ages and profiles.

Criteria	Online banking	Neobanks
Date of appearance	1990s	After 2010
Status	Subsidiaries of large banking groups	Independent startups
Accessibility	Website + mobile applications	100% mobile
Target	All types of customers	Young and connected
Services	Large: credit, savings, insurance...	Limited to daily services
Rates	Reduced fees	Often free
Customer Service	Phone, email, chat	Email, chat

In conclusion

Thanks to their flexible offers, their advantageous prices and their 100% digital experience, these actors make it possible to make serious savings compared to traditional banks.

Take the time to analyze the different options according to your profile. Do not hesitate to combine neobanking and online banking to enjoy the best of both worlds. The main thing is to get out of the expensive schemes of classical banks. I will wish the greatest success in this change of banking habits. Do not hesitate to share your feedback in the comments. Your wallet will thank you!

But before you leave, here is How to Create an Irresistible Business Offer