\n New rules set a limit on the amounts French banks can charge for closing the account of a deceased loved one.\n <\/p>\n
A decree published in the Journal Officiel earlier this month has set a ceiling on fees a bank can charge for the administration of closing a deceased person\u2019s account from November 13th, 2025.<\/p>\n
Following the death of a customer, banks have to carry out various procedures: among other things, an inventory of funds, the establishment of exchanges with the notary and the transfer of money to heirs.<\/p>\n
READ ALSO <\/b>Death and taxes: What you need to know about estate planning in France<\/b><\/a><\/p>\n These operations are generally charged by banks under the name frais bancaires de succession (inheritance bank charges). Currently, these fees are set by each banking institution and sums involved vary from one bank to another.<\/p>\n Advertisement<\/p>\n But, from November 13th, fees will be capped at one percent of the total amount of combined account balances and a valuation of any savings products \u2013 up to an absolute maximum of \u20ac850.<\/p>\n This limit will be revalued on January 1st every year, based on average inflation calculated by France\u2019s statistics body Insee.<\/p>\n In the following cases, bank fees for this process will be eliminated completely:<\/p>\n
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\n<\/ul>\n According to the decree, \u2018complex\u2019 inheritance cases apply, for example, when the deceased had a mortgage that was being repaid, had no designated heirs, had professional accounts, or had taken out security on savings products.<\/p>\n Closing bank accounts is just one of the many admin tasks that follow the death of a spouse, partner or family member.<\/p>\n
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