Why is transferred your savings sometimes so complicated?

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Obviously, these transfers are an opportunity for banks to pay costs (often reimbursed by the host establishment).According to Betterbanque.com, it takes 96 euros on average in the case of a PEL, and 82 euros for a PEA.The latter note is however down, because the law forces banks, since July 2020, to cap their commissions at 15 euros per transferred line, within a limit of 150 euros per plan.But as they have no legal deadline to respect, it is necessary to expect the transfer to last several weeks, if not several months.These extension deadlines can cause a shortfall."The plan is blocked during the transfer. Impossible to buy securities for cheap, or to protect yourself from a stock market crash, by selling the titles," recalls Maxime Chipoy, of the Moneyvox site.

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And what about life insurance?As your banker will like to remind you, this product is not transferable.This therefore force the contract in the original bank to keep its tax priority.But what your advisor will be careful not to report to you is that the PACT law has made it possible to modernize it, for a better designed product of the same insurer, while retaining tax priority.A great opportunity, especially within network banks, known to multiply generations of contracts, and abandon those closed for sale.Except that ... this internal transfer remains at the discretion of the companies."If life insurance includes many account units, deadlines may be long. And the insurer will have to obtain the agreement of the initial contract distributor," explains Mathieu Ramadier, head of the insurance offer at Insurancevie.com.

This is how holders of life insurance at Crédit Mutuel de Bretagne wishing to switch to the Fortuneo online bank, with the envelopes yet designed by the same company, Suravenir, can do nothing without the goodwill of their bank.As for Predica, which manages the many contracts of the Crédit Agricole et du LCL networks, he did not respond to our requests on the possibilities of internal transfer.

The transfer of banking products sometimes lasts several months

(1) Average 2021 calculated by Bestbanque.com on a panel of 118 banks.

(2) for 5,000 euros in account, spread over 5 lines.Average 2021 calculated by Bestbanque.com on a panel of 118 banks.

(3) and 15 euros per transferred line.

(4) including one month of withdrawal period.

(5) During the first ten years of the contract, no costs beyond.

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