Change in size for the benefit of heirs. From November 13, the rules relating to bank charges in the event of death will change. A decree dated August 13, aimed at “reduce and control bank charges on inheritance”provides for the establishment of a ceiling concerning bank charges incurred in the context of an inheritance. When a person dies, their bank is responsible for carrying out several operations in order to close the deceased’s bank account. Among these banking operations, we find in particular an inventory of funds, the establishment of funds with the notary, or the transfer of money to the heirs. All of these operations have a cost, which may vary from one bank to another.
Notice to heirs: the payment of your expenses will be limited by a ceiling. While these fees are not subject to any regulation to date, a ceiling will be put in place from November 13. “These costs will be capped at 1% of the total amount of account balances and the valuation of the deceased’s savings products”according to the Service-public.fr site, which also specifies that they will not be able to not exceed the sum of 850 euros. Important point: this maximum amount must be revalued on January 1 of each year, taking into account the evolution of “the annual average of consumer prices (excluding tobacco)”.
Free bank charges applied in certain cases
From November 13, another important change will see the light of day. In addition to the capping, bank charges incurred during an inheritance may be completely waived. However, only three situations could result in free access:
- First hypothesis: the total balance of the deceased person’s savings accounts and products is less than 5,910 euros (this amount will also be revalued each year);
- Second hypothesis: the heirs communicate to the bank a certificate of notoriety or a certificate signed by all of themand inheritance transactions must not present no so-called complexity “manifest” (situations presenting this type of complexity are specified in the decree);
- Third hypothesis: the accounts and savings products concerned by the inheritance belong to a minor.
Which bank accounts and savings products are affected by these new rules?
The new rules governing bank fees during an inheritance must apply to several types of accounts and savings products belonging to the deceased. According to the Service-public.fr site, these are particularly concerned “deposit accounts, passbook accounts, the A passbook, the popular savings booklet, the sustainable and solidarity development booklet, the youth savings booklet, housing savings or the popular savings plan”. Conversely, this new regulation does not affect the future climate savings plan and the SME innovation account.
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