Two good reasons to empty your current account before March 31

No remuneration is received from the bank for the money kept in the current account. On the other hand, it costs its holder maintenance fee. Here are two more good reasons to empty your current account before March 31!

In France, it is known that banking institutions do not reserve any remuneration for investments made on current accounts. This provision, which has been in place for years, was born out of an agreement between the government and banks, which, in return, maintained free chequebooks.

Until now, if this agreement was generally accepted, today, experts do not hesitate to talk about it. “Expire”At the same time many banks in other euro zone countries are rewarding current account investments, given the now significantly reduced use of cheques.

Whatever the rate, the remuneration will be good. This is not yet the case in France, where the current account, apart from generating no added value, sometimes incurs very expensive management fees.

Interest rates on savings accounts are attractive now

To benefit from your investment, it is recommended to keep only what is absolutely necessary for current expenses in your current account and transfer the savings to a salaried savings account. In addition, the current period is favorable as interest rates return to their real values ​​as the inflation rate falls.

Indeed, the Livret A rate, set at 3% until 2025, has finally outpaced inflation, falling below the 2.9% mark in a year last February, according to estimates from INSEE. Never seen before from 2021!

You should know that a comparison of the interest rate and the inflation rate reveals a positive balance of 0.1% on the interest rate, which is synonymous with a real positive return on Livret A that is not absorbed by inflation. The returns are definitely lower, but it's arguably better than nothing and much better than keeping your money in an expensive current account.

Increase the salary by respecting the “two fortnight” rule

Every day lost equals a few pennies lost. That's why it's better to transfer your money into a savings account quickly, especially if the operation is done instantly and without fees. However, you should take into account the “two-week rule” (1st to 15th and 16th to 30th/31st) that banks consider.

For example, if you transfer your money to a savings account on April 2, your savings will start earning interest only at the beginning of the second half of the month. That is why you should transfer your money from current account to savings account by March 31 to start benefiting from interest from April 1.