BNP PARIBAS With low interest rates and tougher regulations squeezing margins, many banks have raised their fees or started charging customers to hold a current account.
The government is rolling out the website before new rules take effect in February 2017 which will make it far easier to change banks by scrapping much of the paperwork.
Many French banks, including BNP Paribas (>> BNP PARIBAS) and Societe Generale (>> SOCIETE GENERALE), started charging clients this year up to 2.5 euros ($2.72) per month for holding current accounts.
Consumer groups have complained the extra fees are unjust and unions have said new charges for holding current accounts were poorly presented, leaving staff to deal with irate clients.
The free, public website presented by Finance Minister Michel Sapin on Monday lets consumers compare 11 types of tariffs from fees for holding a current account to debit cards.
"My ... priority in 2016 is to reinforce transparency and mobility in the banking system," Sapin told a news conference.
Sapin said although it was normal for banks to charge for their services, it was normal for clients to expect to be served well in return.
"It necessary to make sure that they are served well and that there's transparency in the competition," he said.
(Reporting by Maya Nikolaeva; editing by Leigh Thomas and David Clarke)
