a new control device from 2024, get in order if this is not the case

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These last months, inflation has affected all sectors of our economy. Thus, for the French, the end of the month becomes difficult, and expenses swell every day. In order to support household purchasing power, the Banque de France and the government have raised the interest rate of the booklet A like LDDS. It has therefore evolved by 2 to 3% in recent weeks. Investors greeted this news with some enthusiasm. Thus, during the month of February 2023, the famous Livret A accounts received a total of 6 billion euros. On the LDDS side, this figure rises to 2 billion euros. But this boost represents a certain cost for the State. Also, the tax administration monitors possible fraudwith heightened attention.

The A booklet: a constraint that should not be overlooked

There are very few criteria to be met to open a booklet A. You can subscribe to this investment at any age, without any means test. Nevertheless, there is a fundamental rule to respect: do not open more than one booklet A per person. Of course, it remains capped. But, if you still have savings to grow, you can also opt for the LDDS in addition, or even a CEL. The most modest even have the possibility of taking advantage of the LEP, remunerated at more than 6%.

There are many solutions to save your money

If you use all these investments, guaranteed by the State, you have enough to invest 58,000 euros. And if you turn to other private placements, there is no limit. On the other hand, if you try to deceive the bank or the tax authorities, by opening a second booklet A in secret, you risk penalties. Now that you are aware of this prohibition, it is best to take the lead in regularizing your situation.

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Payment method: which is the most affected by fraud?

You can only have one booklet A at a time – Photo credits: iStock

Booklet A: controls will become widespread

Be aware that the tax authorities have a clear history of the regulated investments to which you have subscribed. And, from 1 January 2024, banks will have to carry out verifications every year. The goal? Ensure that no saver abuses the Livret A account by holding several accounts of this type. If the bank finds that you have defrauded this way, here is what to expect:

• It will notify you of its discovery, asking you to regularize your situation, within two months. Thus, you will have to close the booklets that exist in addition.
• She will notify the tax authorities of this irregularity. If you have committed fraud in the past, this could lead to penalties.

If you know that you have more than one A booklet, we strongly recommend that you solve this problem quickly. Otherwise, the tax authorities could levy 2% of the capital invested in these fraudulent accounts.

What to do when you reach your ceiling?

Are you one of the lucky ones who have money to invest every month? With its ceiling of 22,950 euros, the livret A can quickly prove to be insufficient. The LDDS, on the other hand, only allows you to place a maximum of 12,000 euros. If your income meets the eligibility conditions of the popular savings account, it can be a great solution. However, note that its ceiling does not exceed 7,700 euros.

Clearly, if you have large sums on which you want to capitalize, there are other choices to replace the Livret A. Previously, customers could take advantage of Super Livrets in banks. But these investments have disappeared for a few years. That said, we still find interesting savings accounts with banks.

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Bank charges: be careful, you may be paying too much

• Hello bank! allows everyone to invest money, with a rate of 2.5%, and a ceiling of 50,000 euros.
• Fortuneo Bank, offer a remuneration of 3.5% gross for a period of 4 monthsand accepts payments up to 100,000 euros.

Source : Lemon Squeezer