Blossom

[quote user="nectarine"]Does anyone know if there is a limit to the amount that would be reimbursed if the bank went bust?  Like in the UK, I think the maximum that any one individual can get from a banking institution is around £32,000 or so, therefore the savings experts recommend spreading your money around in these times of uncertainty.  But is that a UK regulation only, or does it apply in France and, if so, what is the limit for any institution?[/quote] Look at the end of this thread: http://www.completefrance.com/cs/forums/1178569/ShowPost.aspx

[quote user="Baz"] Natwest have been using Card Reader Security for sometime, however, it is only for Internet Banking. Perhaps ErnieY could explain how NW Card Reader is used for Internet purchasing[/quote] Paste these details in your browser for the NW Card Reader info:  http://www.nationwide.co.uk/rca/Introduction/why.htm

I opened a separate bank account with no overdraft exclusively for online shopping. A few days before making an online transaction, I  transfer cash from my Nationwide account into this account. As this account never has a balance of more than a couple of quid, any attempt at misuse would be unsuccessful. (It is also possible to open another Flex Account and do likewise.)

[quote user="spg"] Yes they do - you can have one each, up to a smallish maximum, and they are free of tax and the dreaded 11% social charges. IMHO it is always a good idea to have some savings in your adopted country. Sue [/quote] Thanks Sue. But would it still not be more efficient to enyoy the UK 6.5% and pay the social charges on the gross interest rather than the meager tax-free 3.5% of a Livret A?

[quote user="Bob T"]Had you invested in France it would be worth 15,318 euros. [/quote] Thanks Bob T. But would you mind showing us how you arrived at 15,318 euros? For example, which French interest rates/accounts are you using?

We are soon to become French residents and need to organise our finances before our move. With savings accounts and bonds in the UK offering well over 6%, we wonder if it would be a good idea to leave our savings (£100,000) generating an income in our building society rather than seeking a French savings account. Would such tax-free accounts as the Livret A (3.50% net!!), for example, offer any advantages? (NB: We are not interested in any off-shore or risky equity-based solutions)

[quote user="plod"]I'm thinking of having it transferred to my NW account and drawing it when needed. This would obviate some of the loss.[/quote] Have you considered opening a Nationwide Flex Account (assuming that you still have a UK address)? They give spot commercial rates and no extra charges for using non-UK cash points.

[quote user="plod"]My wife and I are on shrinking pensions and today we began to consider what options we have should the pound continue to fall. What is a concern is that it has fallen steadily with very little upward movement to take the sting out. What would be difficult would be trying to decide at what point it became economically impossible to live in France. 1.20? 1.10? 1,00? I'm pretty sure we could barely afford to live at parity. Fingers crossed for an upturn![/quote] We share your concerns, plod. But we wonder (optimistically!) if it would really be that much cheaper to move back to the UK. For example, even at parity, our rent (650 Euros) would still be 30% less than the in UK. Taxe d'Habitation/Foncière are usually a lot less than council tax and income tax can also be less painful in France. Utilities (apart from heating oil) will still compare favourably at parity, as would most of the food (and certainly wine!) that we buy.  There are however question marks over clothes and petrol!

Thanks for your help allanb. What an excellent link!

My original thread, with one exception, seems to have turned into a Crédit Agricole love-in! Here, then, is our experience. Just over a year ago we opened a widely advertised CA Britline account only to discover that it was based in Normandy and not transferable to other parts of France. We therefore had to close this account (which cost us £30) and open a completely new one elsewhere. After a while, we decided to form a joint account from our two individual ones. It subsequently took three months of phone calls and branch visits to properly terminate one of these accounts. We decided to move to another region and asked for an appointment to close our CA account. Six months and several phone calls later, it is still open and we can access the account online! Two other points: our AXA house insurance is 40% cheaper than CA; and our La Banque Postale charges are about 20% less than CA's for exactly the same facilities (cheque book insurance and online viewing).

Thanks for the replies. We were with Credit Agricole and, yes, the service was awful - wouldn't want to generalise, though. We also discovered that if you move department you can't simply change the address on your account; you have to open a completely new one!  We are now with La Banque Postale - branches and cash machines everywhere and changes of address no problem. Can't comment on its banking services as we haven't really used any...yet. However, the results of our attempts at asking the cost of transfering x amount of funds from our UK bank at small/medium sized branches, suggests that we may have to use the larger town/city ones for anything other than simple cash transactions. Needless to say, we didn't ask about savings protection!!

To what extent are savings protected in France if a bank were to 'get into difficulties'.

Update!! I have just phoned Newcastle and they confirmed the CPAM statement: i.e you cannot be put on your partner's E121 until your E106 has expired. Once it has, you simply phone Newcastle and they will issue a Dependants' E121.

UPDATE! I have just phoned a CPAM advisor who said that I cannot immediately be put on my partner's E121 because I have first to use up my E106 entitlement. However, once my E106 expires, I was told that I can then be put on the E121. Does this ring true to anyone!!!

My partner will be eligible for an E121. As we are  not married, we wonder if CPAM  usually accept unmarried dependants on an E121.

[quote user="roxy"] I am quite self-sufficient because I am single and I shall be buying and renovating - hopefully. I live on the outskirts of a city at the moment and will be more than happy to live semi-rurally in France. I am a driver. It is because I am used to fending for myself that I am getting a bit stressed about monthly living costs, but I like to know where I stand - perhaps I should not overthink it?[/quote] I'm no expert, but I would also look into the 'driving' and 'renovating' side of living in France: there could be dreadful pitfalls, here!!

We intend to rent a house in France for a six month trial. If after six months we decide to stay permanently, do we become French tax residents on day one of the seventh month?