Duplicate savings accounts: the obligation for banks to check is postponed

Many savers hold several booklets, accounts or regulated savings plans of the same type, sometimes unknowingly (for example, parents opening a young booklet for a long time, changing banks). Gold the Monetary and Financial Code prohibits holding duplicate savings products.

A decree published on March 12, 2021 requires banks to check duplicates for all savings accounts and provides for the interrogation of the tax administration (this is already the case for the A account, which has been subject to an automatic opening check since 2013).

Originally scheduled for 1^er In January 2024, this obligation was postponed to 2026. A decree of December 26, 2025 finally sets its application from 1^er July 2027, a period of time necessary for the implementation of automated interbank supervision.

Banks already carry out checks, but they are not automatic or exhaustive because the required interface is not available, says the French Banking Federation (banks must go through the tax administration to carry out the checks because the transmission of information between banks is not possible).

Which savings accounts are affected by the ban on duplication?

Banks will be required to verify that a saver who requests the opening of a regulated savings product does not have a similar one in another institution.

The scheme concerns the following regulated savings accounts, plans and passbooks:

• booklet A;
• popular savings account (LEP);
• sustainable and solidarity development booklet (LDDS);
• housing savings plan (PEL);
• housing savings accounts (CEL);
• young booklet;
• (PEA).