Macron Law on Banking Mobility: Everything You Need to Know About Simplified Bank Switching

Switching banks in France has become a simple, quick, and free process thanks to the Macron law on banking mobility. Since its implementation, this system has revolutionized individual bank management by eliminating cumbersome procedures and ensuring a smooth transition between two institutions. Discover everything you need to know about banking mobility, its advantages, steps, limitations, and the latest regulatory changes.

What is Banking Mobility?

Banking mobility is a legal framework that allows individuals to switch banks without having to handle the transfer of their recurring transactions themselves. This service, mandated by the Macron law, applies exclusively to personal and joint current accounts, as well as payment accounts. It does not cover business accounts, regulated savings products, or ongoing loans.

The principle is straightforward: the new bank takes responsibility for all the paperwork related to the transfer of recurring direct debits and standing orders. The customer no longer needs to contact each entity to change their bank details. This system aims to facilitate competition among institutions and strengthen consumer freedom in choosing their bank.

What Are the Advantages of Banking Mobility?

Banking mobility offers several major benefits:

  • Free Service: The service is entirely free for individuals.
  • Simplicity: The procedures are handled by the new bank.
  • Speed: The transfer of recurring operations is completed within a maximum of 22 working days.
  • Security: The risk of forgetting to make changes or experiencing a payment failure is significantly reduced.
  • Flexibility: The customer can choose which operations to transfer and decide whether or not to close their old account.

Which Accounts and Operations Are Covered?

Banking mobility applies exclusively to personal and joint current accounts, as well as payment accounts. Savings accounts, life insurance policies, consumer loans, mortgage loans, and regulated savings accounts (such as the Livret A, LDDS, PEL, etc.) are not covered by this system. Their transfer must be carried out by the holder at their own expense and according to the specific procedures of each institution.

The recurring operations transferred automatically are those direct debits and standing orders that have been recorded at least twice on the account over the previous 13 months prior to the request for banking mobility. This includes regular direct debits, permanent transfers, and SEPA direct debits. However, annual direct debits, such as those associated with certain insurance contracts, are not transferred automatically and must be updated manually.

The Steps of the Banking Mobility Process

The process of switching banks through banking mobility unfolds in several clear and structured stages:

1. Opening the New Account

The first step is to open an account at the new bank. This can be done either in person or online, depending on the options provided by the institution.

2. Signing the mobility mandate

When opening the new account, the customer signs a mobility mandate. This document authorizes the new bank to carry out all necessary procedures for transferring recurring operations. The mandate may include a request to close the old account, but this option is not mandatory.

3. Submission of the request

Once the mandate is signed, the new bank contacts the old one to obtain the list of operations to transfer. The old institution has 2 business days to transmit these information.

4. Response and data transfer

The old bank then has 5 business days to transmit to the new institution the list of upcoming transactions. This ensures the continuity of operations and avoids any rejection or banking incident.

5. Notification of creditors and remitters of transfers

Once the information is transmitted, creditors and remitters of transfers have 10 days to update the new bank details. The new institution informs the customer once the changes are made.

6. Closure of the account (optional)

The closure of the old account is not mandatory. If requested, the bank is required to inform the holder during a period of 13 months of any presented operation (transfer, direct debit or check). This mechanism allows to prevent payment incidents and to process any pending operations.

The limits and points of attention

Bank mobility, although effective, presents some important limitations to know:

  • Non-application to credits and savings products: Ongoing credits, mortgage loans, and regulated savings accounts are not covered by the scheme. Their transfer must be carried out individually.
  • Annual debits not transferred: Annual debits, such as certain insurance contracts, are not transferred automatically and must be updated manually.
  • Responsibility for ongoing operations: Checks or ongoing operations on the old account remain the responsibility of the customer.
  • Not applicable to professionals: The scheme does not apply to professional accounts and businesses.

The latest regulatory developments (2025)

Since 2025, several significant evolutions have strengthened bank mobility and consumer protection:

  • Free Instant Transfers: Since January 2025, instant transfers are free for individuals across the entire European Union. All banks must offer this service at the same rate as standard transfers.
  • Mandatory Beneficiary Verification: Since October 2025, mandatory and free beneficiary verification (Verification of Payee) is required when adding a new beneficiary for transfers within the Eurozone. This mechanism aims to enhance transaction security and prevent fraud.
  • Capping of Succession Fees: Since November 2025, bank fees for succession are capped at 1% of the balance or 850 €, with free service if the balance is below 5910 €. This measure, although independent of banking mobility, aligns with a logic of transparency and consumer protection.

Practical Tips for Changing Banks

Here are some tips to successfully change your bank with peace of mind:

  • Compare Offers: Before choosing a new bank, compare the services, fees, welcome offers, and quality of customer service.
  • Prepare Your Documents: Gather the necessary documents for opening a new account (ID, proof of address, RIB of the old account).
  • Check Operations to Transfer: Identify recurring debits and transfers to transfer, and note those that need to be manually updated.
  • Follow Up on Your File: Stay in touch with your new bank to follow the progress of the transfer and resolve any potential issues quickly.
  • Close the Old Account if Necessary: If you want to close your old account, do so explicitly and verify that all operations have been properly transferred.

Frequently Asked Questions About Banking Mobility

Is Changing Banks Really Free?

Yes, the banking mobility service is entirely free for individuals. Bank fees related to opening a new account and closing the old one are also free, unless otherwise stated in the general terms and conditions of the institution.

How Long Does It Take to Change Banks?

The transfer of recurring operations takes up to 22 working days. The total duration of changing banks depends on the speed of processing by both institutions.

Can I Keep My Old Account Open?

Yes, it is not mandatory to close the old account. You can choose to keep both accounts open, but it is recommended to centralize your operations on the new account to avoid confusion.

What Should I Do in Case of a Problem?

In case of an incident or difficulty, contact the customer service directly at your new bank. If the problem persists, you can refer it to the banking mediator.

Conclusion

The Macron law on banking mobility has significantly simplified changing banks for individuals. Thanks to this device, it is now possible to transfer recurring operations with just a few clicks, without fees or complex procedures. However, it is important to know the limitations of the service and to remain vigilant about operations not covered, such as loans and savings products. By following the steps and advice presented in this article, you can change banks with confidence and fully enjoy the benefits of banking mobility.