Free Banking?

[sturrdave]

I`ve heard horror stories of French banks charging for everything from direct debits, to credit cards, to accessing accounts on the web, to monthly charges for having access to your own money ! ! !

Does anyone know of a French bank which comes near to giving free banking?

Why do the French put up with banks having the use of their hard-earned cash to make all kinds of investments and profits, and then having the cheek to charge for the privilege?

 

Sturrdave

[PossumGirl]

I don't know how things are in the UK, but in the U.S., there is practically no such thing as free banking.  If you use your ATM at a machine that does not belong to your bank, then you even get charged for that. The only "freeish" accounts usually have requirements like keeping a specific balance, or more frequently these days, having your paycheck direct-deposited.  Something that is impossible for anyone who is self-employed or freelance.

So, the French charges don't shock me.

PG

[Weedon]

You must have led a sheltered life if you are surprised at anything a bank does.  Mine charges me about €5 a month for kindly allowing me to use their facilities and I have learned to do the down turned mouth and adopt the gallic shrug, there are worse things in life.

weedon

[vervialle]

I  bank with credit Lyonais and whilst they do not have many small branches anymore I have found them O.K. they charge for cancelling directdebits about 13 euros so the answer is not to have any and pay by cheque, they charge about 18 euros a year for a cashpoint card, which I do not think is to bad and they do not charge for receiving bank transfers from the U.K. they do charge to stop a cheque , but they do in the U.K. So I just pay for the cashpoint card there is no required balance on the account.The main branch I use are always helpful and will always find someone who speaks good english to help you.I do not think you can ask for more than that.

[Will]

If not paying any charges is that important, then all you have to do is visit various banks in your areas and get copies of their lists of fees. That way you will avoid those which charge you a lot for things you often need, and be aware that certain things attract charges. It is perfectly possible, though not always very convenient, to run accounts with most French banks without incurring high fees. Just watch out for the fees for having an inactive account though - typically about 50€ per annum plus TVA.

[Deimos]

I’m no financial expert but I have the impression that personal debt (incl. massive mortgages at e.g. 5 times salary) and credit card use and the like are far more extensive in the UK than in France (both more common and more use made of them). The personal overdrafts/loans and Credit Cards are pretty lucrative for the banks (just look at the credit card interest rates and charges). Thus, I would have thought that UK banks make significantly more income (than French banks) from these sort of things.

However, banks need to make money and without as many things like high credit card interest rates and “massive personal debt”, French banks have to get their money from somewhere – so they charge us. French banks have to pay for branches, statements, computers, etc. and the money has to come from somewhere.

Just a theory.

Ian

[nom de plume]

I think you have missed one. From my impression they would charge you for standing in their queue.

I do not ever remember being sent a pin number for one of my accounts

and when I asked for a new number I was charged 7.5euros, and it is not

even posible to change the number to one that I would find easy to

remember.

Diana