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a French bank account in which to put some spare cash..

mint

By mint
in French Finance

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mint Newbie

mint

Posted
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I am looking for an account that is not a PEL, not a Livret A, not an assurance vie.  Just somewhere to put some money that I don't want sitting in a current account waiting for some scammer to empty it.

Sue (56), you recommended one of these to me years ago but I don't think I can find the thread again.

Anyone else has any knowledge?

I am putting more funds into euros in case Brexit really does send sterling over the cliff and into rocky seas!!  Help me with advice, somebody, PLEASE[:)]

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suein56 Rookie

suein56

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Similar to a Livret A you can have an LDD .. now called an LDDS .. details here :

Voilà ce qu'il y a à savoir sur le LDDS :

En bref : le LDD est un livret d'épargne rémunéré à un taux fixé par le ouvernement dont les fonds sont disponibles à n'importe quel moment. et défiscalisé. Toutes les banques peuvent le proposer. La banque au sein de laquelle vous détenez votre LDD peut vous fournir une carte bancaire pour effectuer des retraits sur votre LDD mais vous ne pourrez vous en servir qu'aux distributeurs de son réseau.

Taux du LDD : 0,75% d'intérêt

Plafond du LDD : 12 000 €

Fiscalité : Exonération d'impôt sur le revenu et de prélèvements sociaux

Nombre de LDD par personne : un seul

Montant minimal pour ouvrir un LDD : 15 €

Montant minimum des versements et retraits : libre

Frais du LDD : gratuit que ce soit pour l'ouverture du LDD, la clôture du LDD, les versements et les retraits

Otherwise you can buy (depending on your bank) actions sociales .. ie social shares in your Bank. These can usually be quickly sold if you need the money though you do pay social contributions on the interest. Their interest rate is usually higher than the 0.75% of the LDDS.
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mint Newbie

mint

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Sue, mille mercis!  You have answered my question:  an LLDDS it is then[:D]

I have a RV with the conseilleur and I wanted to arm myself with info so that he doesn't sell me any old account that might not be suitable.

Had that experience years ago and have been wary ever since.

What a clever, well-informed person you are!  EVEN though you do go on about the unscientific practice of using garlic to cure warts[:P]  Me, I'm keeping the garlic to eat to keep away vampires.....I believe that that is based on occult science and anyway I have seen it used lots of times for just that purpose in old Hammer House of Horror films so I have proof that that works, n'est ce pas?[I]

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richard51 Newbie

richard51

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Given your previous questions on the subject can I suggest that you either ask an accountant (unless Sue is happy to give professional advise for free), give it away to family, give it away to very needy causes or indeed spend it. You only live once.

Probably wrong, but I take Sues comment on the other thread to indicate how absolutely stupid it is to believe all the cures that are naturally available on the internet.

Does OH have any say? Mine does.

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Chancer Newbie

Chancer

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You are only allowed one LDD with a maximum of €12k invested, however unlike the livret A where there is a fiscal control to ensure that you dont have multiple accounts this does not happen with LDD's and I dont even think they have to notify them, so in practice there is nothing to stop someone holding several LDDs across different institutions. This was explained to me by a crooked bank manager wanting my money [:)]

 

There are also other livret type vehicules such as PEA's and others whose names I cant recall.

 

I post this speaking as someone who currently has accounts at 3 banques [;-)]

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mint Newbie

mint

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Interesting, Chance!  Basically, I'm not much interested in any "term" accounts.  Never know when I might need some dosh pdq.

Unlike you, I don't have any euro income so I am moving enough money over to be able to live for 2 or 3 years at least, in case all the stories prove true about pensions not being able to be paid to people living abroad and so on and so forth.  I am not a natural worrier but I do like to be prepared for contingencies.

 

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NormanH Proficient

NormanH

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Having 2 LDDS in different banks is not technically allowed:

Pour ouvrir un LDDS, vous devez signer une convention avec l'établissement bancaire.

Dans cette convention, vous déclarez sur l'honneur :

  • que vous avez votre domicile fiscal en France,
  • et que vous ne détenez aucun autre LDDS dans quelque établissement que ce soit.

To find out about all these options you simply look on the service public site

I have lost count of the times I have suggested that people consult official French sources

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suein56 Rookie

suein56

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richard51 wrote : Bee careful Norman, you may get the Captain Sensible hat.

I very much doubt that .. as Norman has been, and continues to be, a much valued and much loved member of this community. He is, and has always been, ready to comment, without bitterness and rancour, on a multitudinous variety of subjects so has earned the heartfelt gratitude and admiration of a legion of we fellow members. WB included .. though he might have to swallow hard to admit it ☺
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mint Newbie

mint

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[quote user="NormanH"]
Having 2 LDDS in different banks is not technically allowed:

Pour ouvrir un LDDS, vous devez signer une convention avec l'établissement bancaire.

Dans cette convention, vous déclarez sur l'honneur :

  • que vous avez votre domicile fiscal en France,
  • et que vous ne détenez aucun autre LDDS dans quelque établissement que ce soit.

To find out about all these options you simply look on the service public site

I have lost count of the times I have suggested that people consult official French sources

[/quote]

Thank you.  I particularly find the comparison bits very interesting.  Last night, I read the excellent site of French financial consultants and I wanted to post it on here to help others.  But, I couldn't find the "top line" to give a link to.  Your site is "official" and that, as you say is best of all.

Don't worry, I wasn't ever going to illegally hold 2 accounts, lol!!

Mind you, the way the pound has dipped today since May's sabre-rattling in Salzburg has shown me that decisive actions should be taken sooner rather than later.

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Cathar Tours Newbie

Cathar Tours

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[quote user="suein56"]richard51 wrote : Bee careful Norman, you may get the Captain Sensible hat.

I very much doubt that .. as Norman has been, and continues to be, a much valued and much loved member of this community. He is, and has always been, ready to comment, without bitterness and rancour, on a multitudinous variety of subjects so has earned the heartfelt gratitude and admiration of a legion of we fellow members. WB included .. though he might have to swallow hard to admit it ☺[/quote]

Please do not speak for me I can speak for myself. If he was so smart then why not post in English or at least give a translation rather than assume everyone speaks and reads perfect French. It is a very annoying habit he has to show off his superiority over the French language.

As to Richard, well I see he is up to his old tricks again i.e. screwing up yet another thread with his insults. Someone should ban him and you might get more members.

Back to the thread now and no more petty bitching please.
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Judith Community Regular

Judith

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[quote user="suein56"]richard51 wrote : Bee careful Norman, you may get the Captain Sensible hat.

I very much doubt that .. as Norman has been, and continues to be, a much valued and much loved member of this community. He is, and has always been, ready to comment, without bitterness and rancour, on a multitudinous variety of subjects so has earned the heartfelt gratitude and admiration of a legion of we fellow members. WB included .. though he might have to swallow hard to admit it ☺[/quote]

Couldn't  have said it better myself.  Like indeed (yes, shame there is not a like button!).

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Alan Zoff Rookie

Alan Zoff

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Not sure why someone who has gone to the trouble of finding a helpful source of information should then have to go to the further trouble of translating it. After all, we are all owners of property in France and almost every piece of advice on how best to succeed in France suggests learning the language.
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NormanH Proficient

NormanH

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Thanks for the positive comments[:D]

Please do not speak for me I can speak for myself. If he was so smart

then why not post in English or at least give a translation rather than

assume everyone speaks and reads perfect French.

1) I post links to official French sites (which surprisingly are in French [:-))])
2) Any translation not done by a traducteur assermenté 
would lose its official status
3) Any fool can obtain a rough translation by using Google Translate

just to get the gist
One could start by trying it on this site:
to get some idea of the French government's policy.

4) Reading the original French is a useful exercise to learn the vocabulary you may need when dealing with French people.

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Cathar Tours Newbie

Cathar Tours

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Well my short experience dealing with Brits in France is that some speak perfect French, some think they speak perfect French, some can speak basic conversational French and some don't speak French at all. This forum I thought was for those that live in France, have a holiday home in France, holiday in France and/or just like France in general and it is an English language forum. Not everyone is perfect like obviously you two are. I personally think your attitude is somewhat condescending at best and darn right rude and worse but that's me. To think my father told me to respect my elders which is getting more difficult by the day these days. Something May should remember, respect is earnt and not given automatically.
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