Barly

Hello everybody,

we're about to open a bank account, still deciding which. Now some of them say you have to have minimum montly incomes or savings for the account and the credit cards.

We do have a monthly income and savings that would be enough, but what I couldn't find out yet by googling is which of the banks actually ask you to put that money on the account in question, or whether they just want to know if you're "sound". If you have to have it on the account, or use the amount with your credit card, what happens if you don't, in a given month?

Chatter Static

Welcome to the Forum, We use CIC Filbanque of the two branches and regions we have used them in the staff have been friendly helpful. I would avoid Credit Agricole like a dose of the clap because they are as close to useless thieving bar**ards the law permits but some folk like them because they have an English helpline but then you might as well bank with HSBC. "imho" My only dislike of French banks is if you change regions you normally end up having to open a new Bank account.

cjm

You will be charged a monthly fee. Suggest you look at debit card(s). Cheques are widely used, but you will need to 'prove' identity and you do not have a French ID card that cashiers can write down the number on to the cheque (bouncing a cheque attracts criminal reaction I believe, but perhaps others have a comment on this).
Some retailers won't now accept cheques; cash or debit only.
Others may have a wider view, but that is my experience and observation.

EuroTrash

Usually, you can only get a fee-free account if you have a fairly high monthly income. If your income isn't high enough for those banks/accounts, you will still be able to open an account as long as you are solvent but the fees will likely be higher. Simply because, banks want to attract the highest earners so they offer them the preferential deals. I imagine that if you stop putting enough money through the account, they will drop you down to a 'normal' account and slap fees on.

You might find it harder to find a bank that will give you a credit card straight away. Credit cards are not the norm in France as they are in the UK.

I am one of those odd people who is perfectly happy with Credit Agricole, and no that is not because of Britline - I don't use Britline. Just, my local branch has always been very pleasant and reasonably efficient, the fees are about average as high street banks go, I can get cash out all over France and in the UK without a charge, and in 6 years I have never had a problem with them. I know a lot of people disagree, but that's been my experience.

dennerlymum

I think every case is different. Here in Toulouse a LOT of expats have had enormous problems with a particular branch of Banque unPopulaire! I think at least one person is suiing them...

Barly

Because of what we heard about many banks, and because we don't really know what we'd need a brick-and-mortar branch for, we basically decided to go for an online bank; we just don't know which yet, and we haven't quite figured out which insist on regular money going through the account or the associated card account, and what happens in a month with less money traffic.

grannybunz

Hi

We had some intitial problems with Credir Agricole but meeting them face to face in the branch sorted that out - fortunately we speak French well. Now we have few problems and can even get replacement cards without having to queue.

Honestly I thinks most banks are Cr*** so if you find one that works then stick with it!

EuroTrash

The banks do scrutinise applications very carefully, so I suspect that if from the data provided they foresee the possibility of many months with less traffic, you will not be offered that particular account.

Most online banks offer different accounts, according to income, with fees to reflect.

I feel it could be harder opening your first account in France online as they may be less flexible with the criteria of what documentary evidence you have to produce, than face-to-face banks.

FWIW I've heard good reports of ING Direct, but no personal experience.

cyrian

Hi
We use CA - mainly online - so don't have any problems.
If you check their website it will give you details of what info they need to open your account including earnings and tax paid.
This will give you some idea of what to take to whatever bank you choose.

Barly

Thanks, I'll check that. (For other banks, I found the detailed rates sheet. Fortuneo, for example, say explicitly that you have to have a monthly income of so-and-so much or alternatively so-and-so much money in savings on their account, but I couldn't find what happens if you don't.)

EuroTrash

It's a bit like saying "What happens if I get a place to study physics at university but I haven't passed my GCSE and I don't know any physics" - it's not a scenario that should ever arise. Those are the criteria for having the account; having the account but not meeting the criteria isn't a legitimate option. If when you apply you can't prove to their satisfaction that you are going to able to meet the criteria, they won't offer you an account in the first place. If you are in a position to meet the criteria but choose not to, or if circumstances change and you no longer do, they will close the account and possible give you the option of moving onto a different type of account. Simples. French banks don't mess about; if you're not a 'good customer', they can close your account just like that.

Barly

I see, thanks.

The scenario is a bit different - you have you GSCE, so they take you on. You never fail a test, but will they throw you out if you hang around in another college's library all the time?

EuroTrash

As long as you keep meeting all the specified criteria, i.e. complete all the assignments they set you, I'm sure you can do what you want in your spare time (or with your spare money). But if spending all your time in another college's library means you don't get your assignments in on time, that's an issue.

Banks run reports on their customers all the time, page after page after page of reports every month (I know because used to work at a bank and I had to archive the blinking things). I would be very surprised if there isn't a standard monthly report run on customers who are being given gold star treatment, to flag up any who aren't running their accounts to a gold star standard. If they say you need to put 10.000€ through your account every month, then as long as funds in adds up to 10.000,01 you will be fine, but if one month it only adds up to 9.999,99€ it will automatically trigger the computer to send you a letter, and on from there.

If they weren't strict on it, everyone would open free accounts and the banks wouldn't make any money, poor old bankers.