Getting a bank overdraft could become more difficult in France from November 20. Banks will now have to verify the financial situation of their customers before granting a new authorization, even for an amount lower than €200. Income, expenses and repayment capacity will be examined. Enterprises must also clearly inform their customers about the cost of this banking facility. The poorest households may be particularly penalized. An already approved overdraft is not affected. (Ministry of Economy).

Getting a bank overdraft could become more difficult in France from November 20. Banks will now have to verify the financial situation of their customers before granting a new authorization, even for an amount lower than €200. Income, expenses and repayment capacity will be examined. Enterprises must also clearly inform their customers about the cost of this banking facility. The poorest households may be particularly penalized. An already approved overdraft is not affected. (Ministry of Economy).

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