A peer-to-peer loan can be arranged without any processing or intermediary fees, and the law forbids anyone who helps obtain a loan from collecting money before the funds are actually paid out: any request to the contrary should set off alarm bells.
What costs nothing in a loan between relatives
Writing your own IOU, signing a private agreement and filing formulaire 2062, the French tax form for loans, cost nothing. A well-documented family loan can therefore be concluded without spending a cent, provided you follow the rules of evidence in the Code civil.
Article L519-6: no fees before the funds
Article L519-6 of the Code monétaire et financier forbids anyone who helps obtain a loan from collecting a commission, processing fees or handling charges before the loaned funds are actually paid out. This rule directly protects the borrower.
No fees or no interest: two different ideas
"No fees" refers to ancillary costs, "no interest" to the lender's return. A zero-rate loan can be granted between individuals; our page on interest-free loans online sets out its tax consequences and its limits.
Optional but sometimes useful expenses
Registering the agreement with the tax office, for a fixed fee of 125 €, gives it a certified date. A costlier notarial deed is directly enforceable, a real asset for a large amount; see our page on the notary's role in a private loan.
Commissions charged by crowdfunding platforms
Platforms approved by the AMF usually earn a commission taken when the financing is granted or on repayments. The European regulation requires them to disclose their fees clearly, which has nothing to do with a payment demanded upfront through a messaging app.
The "release fee" trap
The fake lender promises a loan with "no fees", then announces an unexpected expense: compulsory insurance, transfer tax, revenue stamp or notary fees. Each payment triggers a new demand, until the victim refuses or runs out of money.
An international transfer supposedly blocked
One variant invokes a transfer from abroad held by a central bank or customs office demanding a release tax. The mechanism of the blocked international transfer scam always follows this pattern of successive payments with nothing in return.
Fake cheque and refunding the "overpayment"
Another technique: the scammer sends a cheque larger than the loan amount and asks you to transfer back the difference. The stolen or forged cheque bounces a few days later; how the fake lender's cheque works is explained separately.
Payment methods favoured by scammers
Prepaid vouchers, gift cards, Western Union or MoneyGram transfers and cryptocurrencies come up again and again, because they are fast and hard to recover. No legitimate lender, notary or bank asks a borrower to pay fees through these channels.
Fake notaries and fake lawyers
Scammers invent a notary tasked with "securing" the loan, reachable through a free email address. Check any notary in the official directory of French notaries and call the office on a number you found yourself, never the one supplied by the lender.
Tax: the only sums actually owed
Any interest received is taxable for the lender as investment income. The borrower owes no tax on the amount lent, so a supposed public finance officer demanding a tax to release a loan is necessarily a fraud.
After a fee scam: act fast
Contact your bank immediately, file a complaint at the police station or gendarmerie, and report the advert on PHAROS. The chances of recovery remain slim, which is why you should never pay anything before the funds have actually been paid to you.
Arranging a peer-to-peer loan without needless expense
- Agree with the lender on the amount, the term and any interest rate, possibly zero, before signing anything.
- Draw up a private agreement free of charge, in two signed and dated original copies.
- Refuse any upfront payment: the lender transfers the funds first, and you pay nothing before receiving them.
- Receive the money by bank transfer and check it is definitively credited before spending it.
- File formulaire 2062 free of charge with your tax return if the loan exceeds 5 000 €.
- Only opt for tax registration or a notarial deed if the amount or the family context justifies it.
Legitimate and illegitimate fees
| Expense | Indicative amount | Status |
|---|---|---|
| Private agreement | 0 € | Legitimate, recommended |
| Formulaire 2062 | 0 € | Mandatory above 5 000 € |
| Registering the agreement | 125 € (indicative) | Legitimate, optional |
| Notarial deed | Depends on the regulated scale and the amount | Legitimate, paid to a verified notary |
| Fees demanded before the funds | Any sum | Illegitimate: probable scam |
Documents to request and provide, without paying
- Identity document for both parties
- Loan agreement in two original copies
- Signed repayment schedule
- Borrower's bank details (RIB) to receive the funds
- Bank statement proving the funds were definitively credited
- Formulaire 2062 where applicable
Traps hidden in supposedly free offers
- Paying "compulsory insurance" or a "revenue stamp" to an unknown lender: such upfront fees are forbidden and are the mark of a scam.
- Refunding an overpayment after depositing a cheque, without waiting for the bank to confirm it has definitively cleared.
- Trusting a notary contacted through a free email address, without checking the official directory.
- Agreeing to pay a supposed international transfer charge by gift card, prepaid voucher or cryptocurrency.
- Believing that a screenshot of a "pending" transfer proves the funds were sent, when it can be faked in seconds.
Fee-free loans: your questions answered
Can a private lender charge processing fees?
An individual who lends occasionally does not run a paid application process. Demanding payment before releasing the funds is the most consistent sign of a fake loan scam; the law also forbids intermediaries from collecting any sum before the loan is actually paid out.
Are notary fees compulsory for a private loan?
No, a loan between individuals is valid as a private agreement. Using a notary remains a choice, useful for large amounts. In that case you choose the office yourself, checked in the official directory, and its fees are paid on invoice.
Must a loan with no fees and no interest be declared?
Yes, the absence of fees or interest does not change the tax obligation: above 5 000 €, the borrower files formulaire 2062 with their tax return. If in doubt, ask your local tax office for private individuals.
How do you spot a fake proof of transfer?
A proof only counts once the funds are visible and available in your own account. A PDF announcing a "transfer blocked pending fees" or an email from a so-called bank proves nothing. Check your online banking directly before taking any action.