Bank accounts
The different types of bank accounts
Sommaire
- 1 Individual bank account
- 2 Joint bank account and joint bank account
- 3 Fences of Auditors
- 4 Bank Account FAQ
- 5 Day-to-day banking, how it works (transfer, withdrawal, cheque…)?
- 6 The notice to third holder (ATD)
- 7 Balance Bank elusive (SBI), the impossible to grasp, even in the case of ATD sum
- 8 Cash
- 9 FAQ cash
Individual bank account
Procedure for opening a bank account
Anyone can ask a bank to open a personal account, as she accepts the rules of operation.
Benefits:
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- All conventional products
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Identity verification
To request the opening of an account, you must present an official identification with a photograph, that is, in practice:
- A national identity card
- A passport
- A EU residence card
- Another residence permit.
The production of the driving licence may be accepted, if the photo leaves no doubt as to your identity.
Justification for the home
You must also justify your home. For example, you can provide:
- A tax notice,
- A rental receipt,
- A water or electricity bill.
The election of domicile certificate submitted by a person without a stable home is also accepted.
The Bank's decision
Your request for opening a bank account, the Bank may accept or decline the request. In view of the documents that you have given him, if the Bank agrees to open an account, she then informs you of the terms of use.
When the bank refuses you the opening of the account, it has no obligation to justify its decision, even if you have justified your identity and your home.
However, she must inform you of the possibility of seizing the Bank of France in order to exercise your right to the account.
General rules
As a general rule, the account name contains your first name and your name, preceded by Mr., Mrs. or miss.
The Bank cannot impose the use of Miss a single client.
If it appears on the photo ID you presented, the name may be your use name (name of the husband or of the wife or name of both your parents). In the case of guardianship or curatorship, the mention "under tutorship (or guardianship) of", followed by the name of the guardian or trustee is added.
The deposit account agreement for you to sign includes all of the information about the operation of your account. You then give the Bank a specimen of your signature, that allows to check the authenticity of management activities that will be carried out later.
The Bank may change the account agreement, according to a notice period of at least 2 months before the date of entry into force of the changes.
If you dispute this new account agreement within this period it is acceptance.
As opposed to other types of bank account (joint account and undivided account), as an individual account holder, you are the only person who can:
- Deposit and withdraw funds to the account.
- Use the payment methods associated with the account.
However, you can give power of attorney to someone to make deposits and withdrawals on your behalf.
From 1 January 2016, all banks may charge fees for the mere keeping of your account. The details of these rates must be in its rate insert or be displayed in its agencies.
References
Drafting a power of Attorney
Obligations of the agent
Obligations of the principal
End of a power of Attorney
Article L312-1-4
Relations between banks and their customers
Opening an account
Right to the account
Joint bank account and joint bank account
Any person, major or minor (with the agreement of the legal representative) may open an account individual, joint or undivided. A licensee may hold one or more accounts.
Many confuse the undivided account and the joint account. But the operation of these two accounts is different. The joint account is actually a special form of collective account.
Joint account – what is it?
A joint account is a collective bank account for deposit and use funds in common, in a reciprocal trust between co-owners. Each of the joint owners may deposit or withdraw funds.
Often adopted by couples, the joint account is useful for common expenses. How it works to eliminate any financial risk.
The joint account is an account opened on behalf of 2 persons, related or not related. The joint holders of the account are jointly responsible for the account and its possible incidents of payment.
The joint account is a bank account working on behalf of several owners (a couple more often). A situation that is not without risk, the joint account with practical advantages but also certain legal disadvantages.
All are likely to be banned Bank on all their accounts, except prior designation among them of one leader of the incidents related to cheques.
All means of payment can be used by any joint owner, with the exception of credit cards, that are personal.
Account statements, letters, books bear the names of co-holders bound together by one or. The title will be so, for example, "M." 'or' "Ms.", "Mrs." "or" "Mrs", 'X' 'or' 'Y' 'or' 'Z '.
The use of the 'or' brand that everything done a co-owner is supposed to be done in accordance with any other co-owner.
Opening a joint account
The opening of the account takes place following the same rules as those valid for an individual bank account. A deposit account agreement is adopted.
Future joint account holders must be present and agree on a common address for the receipt of letters from the Bank. The Bank may set a limit number of co-owners, beyond which she refuses the opening.
The Bank may change the account agreement, according to a notice period of 2 months before the date of entry into force of the changes.
The absence of protest on the part of each of the joint owners is acceptance of the new convention.
If one of the co-authors refuses the changes:
- Either the account continues to operate without the services changed by the new convention,
- Either the account closure procedure must be initiated by one or more joint account holders.
From 1 January 2016, all banks may charge fees for the mere keeping of account. The details of these rates must be in its rate insert or be displayed in its agencies.
Closing of the joint account
Closing the account follows the same rules as those valid for an individual bank account.
The termination letter must be signed by all co-holders.
In case of a positive balance, the withdrawal may take place under the signature of all co-holders, or, failing that, following a court decision.
In case of a negative balance, the Bank may claim the whole of its due to each of the joint owners.
The account can be also closed on the initiative of the Bank.
Note:
In case of death of one of the co-owner of a joint account, the latter is not blocked, unless the heirs of the deceased not specifically ask his blocking. If there were only two joint owners, the surviving owner becomes only the account owner. The latter turns into individual bank account. The unique holder may continue to use it without particular formalities.
Succession, when no precision is made on the origin of the funds so the balance of the account on the day of death is deemed belong by half to each spouse. Consequence: half of the balance of the account attached to the day of the death enters the estate, while the other is still usable by the surviving spouse.
The undivided account – what is it?
Undivided account, or account in joint ownership, is a collective bank account on which no operation can be performed without the consent of all co-holders.
A joint account is an account which can only work with the agreement of all its account holders.
No deposit or withdrawal cannot be achieved without the signature:
- Of all the joint holders of the account,
- Or any agent of the account, designated by common agreement by and among all co-holders.
In practice, and when different individuals cultivate a relationship of trust, it will be simpler to designate an "agent" in the account agreement, which can make the simplest management acts on behalf of the indivision (withdrawals and deposits, including).
Incident of payment, the account holders are jointly responsible.
All are likely to be banned Bank on all their accounts, except prior designation among them of one leader of the incidents related to cheques.
Account statements, letters, books bear the names of co-holders bound together by one "and". The title will be, for example, "Mr. and Mrs.", of "Mrs and Mrs", of "X and Y and Z".
The use of "and" brand that any co-owner may act alone on the account, without the express consent of all others.
Undivided account
- By direct creation
The opening of the account takes place following the same rules as those valid for an individual bank account. A deposit account agreement is adopted.
All applicants must attend and agree on a common address for the receipt of letters from the Bank.
- Joined by conversion of an account
Closing of the undivided account
Closing the account follows the same rules as those valid for an individual bank account.
All co-holders to sign the closing mail.
In case of a positive balance, withdrawal can be done only under the signature of all co-holders, or, failing that, following a court decision.
In case of a negative balance, the Bank may claim the whole of its due to each of the joint owners.
The account can be also closed on the initiative of the Bank.
Note:
If one of the signatories dies, the consequences are important for the joint bank account. As the event is known with certainty by the Bank, the latter will proceed to blocking the account, pending the settlement of the estate of the deceased, which means that more no deposit or withdrawal operation will be registered there.
This rule does not know any form of exception, and applies when the co-owners Co had taken care to appoint an agent or that there is only a single surviving signer, when well even the latter would be in more own spouse of the deceased.
What is the difference between an undivided account and a joint account?
Undivided account, or account in joint ownership is defined as "a collective bank account on which no operation can be performed without the consent of all co-holders. »
But what is so, you tell me, the difference with an account attached which you now read features on the previous page of this guide? Well, unlike a joint account, the undivided account does no isolated, operation that is undertaken by a joint holder without that others have signified their agreement.
This requirement is also illustrated by the fact account statements, letters and books bear the names of the co-holders bound by one 'and' and no more, as in the case of a joint account, a 'or '.
Transformation of the account attached as an undivided account
The joint account can be transformed into undivided account:
- Through joint action of all co-holders, who send all to the Bank a letter from uncoupling.
- By the will of a single co-owner, who address a letter with request for receive notice a letter of termination to the Bank and a letter of termination to each of the joint owners.
All acts of management must then be carried out with the signature of all co-holders.
The previous transfer orders or authorizations of permanent collection are canceled.
Other means of payment must be returned.
References
Solidarity between creditors
Solidarity on the part of debtors
Presumptions of property
Incidents of payment and penalties
Fences of Auditors
The abusive account fences are rare. Because any bank can close your account, as long as it respects a notice. This, can any motive, just like you can close the account.
The Bank may close your account, even if it runs properly, in respect of the account agreement.
Simply to inform you beforehand of its intentions in writing, and ceu even with a very high seniority of your account.
The Bank is not obliged to justify its decision, unless the account was opened after activation of the right procedure in the account.
The notice period should allow you to open another account and perform the last useful continuity of your accounting operations.
In practice, fences on the initiative of the Bank are announced between 30 and 45 days before the actual closing of the account.
The Bank may close any account remained inactive for 10 years without prior information, because it seems abandoned. So be careful.
If the account has an overdraft, you need to cover it.
If the account has a positive balance, it is refunded to you.
In the event of closing an account pretending abandoned, the Bank entrusts money to fund the deposit and consignment office, that she reverse her owner or his successors if they develop.
Note:
at the end of 20 years of conservation without claim, from money paid to an inactive account is acquired to the State. An account that moves more or in which you have a can of money may be forfeited as well.
Unlike in the past, the closing of the account is free, even if your Bank says the opposite, c #est especially for not to lose customers.
Namely:
However, the deposits and consignments Fund may collect fees of management in the event of consignment of an inactive account.
If the Bank does not have a sufficient notice period, you can claim compensation by mail.
If these compensation you are refused, you can appeal to the banking Ombudsman, or even hire a civil trial.
References
Right to the account
Relations with the client credit institutions
Basic banking services
- Order of July 31, 2015, fixing the list of supporting documents for the exercise of the right to the account with the Bank of France
- Decree of 18 December 2008 on the approval of the Charter of accessibility to strengthen the effectiveness of the right to the account
Bank Account FAQ
What is a bank account agreement?
The account agreement contains all of the reciprocal commitments between you and the Bank, from the opening to the closing of your account.
A bank account agreement should give reliable information:
- The term of the agreement
- The services offered and their prices
- The means of communication used between the Bank and you
- The conditions of power of Attorney,
- The fate of the account in case of death,
- The possibilities of modification and termination of the agreement
- The ways of mediation and remedies in case of contestation.
A convention must also give precise information on the means of payment associated with the account, including on:
- The update available or not of cheques,
- Security and protection for the use of the means of payment, bonds
- Procedures in case of badly executed operations,
- Procedures in the event of payment incidents,
- The possibilities of limitation of the amount of available expenditures for each means of payment,
- Charges, interest and exchange rates.
The convention mentions the consequences of a debit position of the account, specifying:
- The terms of any discovered authorized (operating conditions, fare conditions),
- The consequences of an unauthorized debit position, the conditions in which you are informed as well as the applicable tariff,
- The possibilities of blocking or restitution of means of payment,
- The possibilities of eventual puncture by the Bank of amounts entered on other bank accounts managed by it (savings accounts for example), to cover the deficit.
Procedure of closing a bank account
The account agreement should tell you how to close account at your request. It is customary that you addressed a request of termination by registered mail with notice of receipt request. The closing of any deposit or account on booklet is free
A period of notice of 30 days is often imposed. This delay allows to make sure, after the Bank of all means of payment, all past operations (including by cheque) resulted.
In the case of closing of a bank account permanent transfer or removal orders are cancelled, upon receipt of the letter of termination
In case of death, as soon as the Bank has certain knowledge, the Bank blocks account: she recorded more no deposit or withdrawal operation.
Note:
The account can be also closed on the initiative of the Bank.
References
Drafting a power of Attorney
Obligations of the agent
Obligations of the principal
End of a power of Attorney
Article L312-1-4
Relations between banks and their customers
Opening an account
Right to the account
What happens to a bank account in case of death?
In case of death, the fate of a bank account varies depending on the type of account (individual account, joint account or joint account.
Individual account
As soon as the Bank has knowledge of certain of the death of the holder (by relatives or by a notary public), it blocks the account.
She records more no operation of deposit or withdrawn, with the exception of those corresponding to the settlement of the costs of the funeral (and within the limit of €5,000).
Any proxies cease to be effective.
The future of the balance (positive or negative) is set at the same time as the estate.
Joint account
The future of the account specified in the account agreement.
As a general rule, 2 provisions are planned:
- The account is not blocked, except opposition of the heirs of the deceased joint holder.
- The account continues to be on behalf of the surviving joint owners (or automatically becomes an individual bank account, if there is more than one surviving co-owner).
In case of a positive balance on the day of the death, the issue of sentencing and the fate of the share owned by the deceased is part of the general regulation estate.
In case of a negative balance, the Bank may request to (x) holder (s) survivor (s) cover all of the corresponding amounts.
Undivided account
As soon as the Bank has knowledge of certain of the death of a co-owner (by relatives or by a notary public), it blocks the account: she recorded more no deposit or withdrawal operation.
This capital knows no exception even in the presence of a representative, and regardless of the relationship between the deceased and the co-owner of the account.
The future of the undivided account and balance (positive or negative) is set at the same time that the whole of the estate.
References
Drafting a power of Attorney
Obligations of the agent
Obligations of the principal
End of a power of Attorney
Article L312-1-4
Relations between banks and their customers
Opening an account
Right to the account
How to create a proxy for a bank account?
The power of Attorney allows the holder of a bank account to let someone else perform operations on this account. The procedure is written and the power of attorney can be interrupted at any time.
The power of Attorney allows the holder of a bank account to let another person use this bank account. Still, the holder may continue to use his account itself.
The recipient of the power of Attorney is called agent. The person giving power of Attorney is called principal. The agent can thus withdraw and deposit money on behalf of the principal.
The power of Attorney is useful if the principal has mobility problems. But it is a different procedure of the curatorship or guardianship: the account holder remains autonomous and retains his rights to his bank account and his income.
Power of Attorney is granted in writing, with delivery to the Bank for a copy of the signature of the agent, as well as proof of residence and identity about it.
The written document specifies whether the proxy is:
- General, i.e., for any operation (with the exception of the closing) and for an indefinite period.
- Oulimitee, that is only for certain operations, a certain period of time, certain amounts, etc.
A power of attorney on the same account can be given to several people. These people can act all separately, without consultation with each other, unless the power of Attorney States otherwise.
A power of Attorney ends:
- At any time, if the principal or one of the constituents so decides and notifies the Bank in writing.
- At the end of the term provided, if the power of Attorney is not for an indefinite period and is not renewed,.
- At the time of the death of the principal (or one of the constituents).
Can a minor have a bank account or a savings account?
A minor can have a bank account or a savings account as a booklet. But how to use them is limited and progresses with age.
Born, parents can request, on behalf of their child to a bank or a booklet at.
This opening can be done regardless of the age of the child and even if he is unable to give consent. For example, it is possible to open a livret A from the birth of her child. He can dispose of it as soon as he turns 12.
A minor 12 years of age and older can:
- Ask himself opening a young booklet. The consent of the parents is required,
- Deposit or withdraw funds on his account or his book (the amount and frequency of withdrawals may be limited). The signature of the parents is required only for withdrawal operations.
A minor of 16 years, in most of the banks, and with the consent of the parents, can open a bank account with these possibilities:
- A credit card and a checkbook are associated with,
- The use of the sums credited to the account can be done freely by the minor.
He can withdraw only the amounts listed on the livreta or explicit young booklet, except opposition of his parents or guardian.
In all cases, parents have the responsibility of funds and movements on the accounts. They are responsible for the debts of their minor child.
Parents can use themselves the sums deposited on the account or the booklet of their child under the age of 16, even though the grandparents have opened the booklet. The use of these funds is limited (from least officially) expenditures directly related to the child: education, maintenance…
References
Drafting a power of Attorney
Obligations of the agent
Obligations of the principal
End of a power of Attorney
Article L312-1-4
Relations between banks and their customers
Opening an account
Right to the account
Refusal to open account what to do? the solution, the right to the account
Any natural person residing in France is entitled to open a bank account with access to basic services. Why, simply because wages must pass being wired to a bank account so that the State can control it and avoid work at black… Sometimes, there is an initial refusal of openness on the part of a Bank for example when the customer is not permitted Bank. The customer can then appeal to the Bank of France to be able to open an account.
refusal original dune Bank
A bank may refuse you opening an account without having to explain its decision.
But the Bank must then:
- inform you about the possibility to take the Bank of France to benefit from the right procedure in the account,
- and provide you with a letter of refusal.
Note:
If you have requested the opening of an account in writing, the notice of refusal is necessarily addressed by registered letter with request for advice of receipt.
appeal to Bank of france
If you don't have a bank account and a Bank refused you, you can sue for right to the account.
This appeal to the Bank of France to force a bank to accept the opening of an account. The facility is designated by the Bank of France.
However be aware that suddenly during a visit (appointment) the Bank will simply refuse to open an account at oral and forget (voluntarily) you talk about right to the account. As your request was not made by written, no sign and no need to answer. A commercial trick for don't you go as a client to issue in the Bank's portfolio.
This use is possible even if you are:
- banking ban
- registered to the file of the incidents of credit to individuals (FICP),
- or in serious debt.
Your file should include:
- an introductory letter,
- an action request form,
- proof of identity (identity card, passport, visa…),
- proof of address (water bill) or phone of less than 3 months, less rental receipt of 3 months, title…
- the rejection letter from the demarchee Bank.
II can be deposited in a branch of the Bank of France concerned or is sent by mail.
Namely:
the Bank responsible for the initial refusal may propose to the person who asked him to open an account to use in its place but this is exceptional.
Access to the basic service
Within a period of a day, the Bank of France refers to mail the Bank forced to open the account.
The bank concerned has 3 days to run.
The account agreement associated with the opening is limited to the following basic banking services:
- required opening and closing of account,.
- issuance of bank records,
- Tip (interbank payment title) payment, transfer, removal,.
- monthly mailing of a statement of account,
- realization of cash transactions, deposits and withdrawals of cash at the counter (or with an ATM card),
- domiciliation of bank transfers, check cashing,
- the balance of the account remote consultation,
- a credit card with systematic authorization,
- a change of address 1 time per year,
- two forms of cheque per month (bank checks more often).
The procedure of forced opening of the account and basic banking services usage are free.
The account opened following an appeal before the Bank of France may be closed by the Bank which has been forced to open it, as any bank account.
But it must give reasons for its decision and let a 2 months notice.
The appeals process can be reactivated as many times as necessary.
references
Right to the account
Basic banking services
- Order of July 31, 2015, fixing the list of supporting documents for the exercise of the right to the account with the Bank of France
- Decree of 18 December 2008 on the approval of the Charter of accessibility to strengthen the effectiveness of the right to the account
Day-to-day banking, how it works (transfer, withdrawal, cheque…)?
Banking (transfer or collection for example) must follow specific rules. Notably, they must be specifically authorised, registered and notified. Otherwise, they can be challenged and cancelled.
The bank holding the account can make a payment transaction if it is explicitly authorized by the holders of the account. It must have given its consent to execution.
The operations concerned are:
- transfers (approval may be given on paper or via the internet according to the agreement signed with the Bank).
- samples (so it is necessary to sign a debit authorization).
- payments by cheque or card (the use of one of these instruments is consent).
The consent may be withdrawn as long as the payment transaction has not taken place.
Attention:
cancellations of payment per credit card order are difficult to obtain (except blocking the card general and irreversible).
Registration by the Bank: operation date
The transaction date is the date at which a debit or credit transaction is registered by the Bank: deposit of a check, receipt of an order of transfer…
If the payment transaction is ordered near the end of the working day time, any order received is considered received the next business day.
If the time of receipt is not a business day (for example in case of an order given by internet), the order of payment is considered received the following business day.
Starting point for the calculation of interest: value date
The value date is used to the calculations of interest. Example: If you send money to a savings account or to calculate the duration of an overdraft.
For payments by cheque, the value date may differ from the date of execution. However, these two dates may not differ more than 1 working day. By example, if you deposit a check Monday to replenish your overdrawn account, your bank will consider your balance as positive from the following Tuesday.
In other cases, there may not be difference between the transaction date and the value date. If you make a transfer on your booklet has Monday, interest will be calculated from this same Monday.
The execution of each payment transaction is notified to holders of these 2 accounts (account credited and debited account).
Notification procedures are decided upon by each account holder and his bank.
In practice, the notifications are made batch on a periodic basis, by means of statements of account sent by the Bank, by mail or by e-mail, to the (x) (x) of the account holder.
The frequency of notifications is set in agreements. It can be daily, fortnightly, monthly, semi-annual, annual, etc.
The account holder must report to his bank, within a period of 8 weeks, a payment transaction where the amount exceeds the amount to which it could reasonably have expected.
For unauthorized or poorly executed operations, the time is 13 months at most from the date of debit under penalty of foreclosure.
This period is reduced to 70 days (possibly extended by contract not exceeding 120 days) when the establishment of the recipient of the payment is located outside the European Union or the European economic area – EEA.
These time limits do not apply if the Bank did not provide him or does not have at its disposal the information related to this operation of payment (statement of account).
Except in the case where the user is a natural person acting for non-professional purposes, the parties may agree a separate period of contestation.
When it comes from the owner of the account, protest often takes the form of a letter addressed to the Bank.
If the challenge was not successful to corrections which satisfy and the Bank and the account holder, it is possible to use the banking Ombudsman.
The action in the civil courts is an option for 5 years from the date of execution of the operation.
Attention:
the General conditions concerning the statements of account banks often specify that the postings made to the account are considered as approved within a given period, often between 1 and 3 months, without challenge from the account holder.
Authorization of banking
Practical modalities and deadlines in an unauthorized or poorly executed payment transactions
The notice to third holder (ATD)
If you do not pay the amount that you must to taxes, the notice to third holder (ATD) allows tax administration to ask a third party (in most cases, your bank) payment of the amount due. However, certain amounts cannot be the subject of a recovery.
ATD is a procedure allowing taxes to obtain from a third party holding funds belonging to you, the payment of a sum you have and have not paid. Most often, it's the Bank, but it can also be an individual (a tenant, for example).
The amount due must be tax (taxes, penalties and ancillary costs recovered primarily by taxes).
The ATD procedure should not be used for the recovery of a criminal fine.
An ATD may you be notified if you have not paid an amount that you owe taxes on time.
The ATD is at the same time notified to the third party concerned. He is then required to pay the amount due.
The sums concerned must be seizable sums (professional income, bank accounts, amounts paid on a life insurance contract redeemable, especially).
The claim must be on a sum payable immediately or, in some cases, payable at a later date. Thus, for example, when a claim is repetitive, as the payment of rent, the amount can be recovered later by taxes.
When the ATD is sent to your bank, the amount may be charged on all accounts (except the securities account), on condition that the withdrawn amount already appears on the account at the date of the sending of the ATD. However, if a check has been cashed before the shipping date, but it is not yet credited to your account, the amount may be subject to recovery. The bank account is blocked for 15 days.
The amount recovered by the tax corresponds to the amount due. In case of ATD sent to your bank, the amount is recovered in the limit of the following amounts:
- the balance of the account blocked.
- and the elusive bank balance (SBI).
If your bank account is a debtor, the amount due cannot be recovered.
Balance Bank elusive (SBI), the impossible to grasp, even in the case of ATD sum
If your bank account is the subject of a seizure, you still can have a sum of money to meet immediate food expenses. This sum is called bank balance elusive (SBI).
Your bank is obliged to leave at your disposal the amount of SBI, either on a personal or professional account.
If you have several accounts, the sum is counted only once
The amount of the SBI is set at €524,68, regardless of your marital status (presence of dependants, for example). It is at most equal to the monthly amount of the RSA for a single person without children so.
Your bank account can be powered by receivables from elusive amounts (minimum social benefits, family benefits, reimbursement of medical expenses, including). In this case, the amount of the SBI made available to you by your bank cannot be cunuler with these amounts.
If your bank account is credited with an elusive amount exceeds the amount of the SBI, your banker will leave this amount available.
If your bank account registers an elusive amount less than the SBI, your banker will leave available the amount of the SBI, provided that your account balance is in credit of at least this amount.
For example:
| Amount on the account on the day of the seizure | Existence of an elusive debt | Maximum amount entered | Sum left at disposal by the Bank |
| Credit account: €900 | Alimony: €200 | €375,32 | €524,68 (elusive bank balance) |
| Credit account: €900 | Reimbursement of medical expenses + support: €600 | €300 | €600 (amount of unseizable claims) |
| Credit account: €150 | – | €0 | €150 |
Beneficiaries
Articulation of the SBI with seizable sums
Cash
Bank overdraft?
The Bank may agree to operate an account that is overdrawn when there is not enough money to pay for operations that arise. It may be a mere tolerance or an authorized overdraft.
The Bank may agree that an account works in the open. The bank account can be negative, i.e. have more flow (spending) than credits (payments). But this permission is not automatic and the Bank may reconsider this tolerance and reduce it, or even to cancel it.
The credit limit is never automatic.
You must apply for a specific amount:
- At the signature of the account agreement
- Or by mail addressed to the Agency where your bank account is
Duration
The credit limit can be punctual (valid until a predetermined date) or be granted for an indefinite period (up to revision or termination).
As for actual overdraft situation, it can be allowed for 2 weeks, 1 month or 3 months, but never beyond.
This means that even if he has overdraft protection, a bank account must be regularly credit at least a full day.
An overdraft of more than €200 which exceeds 90 consecutive days is automatically re-qualified in consumer credit.
Agios
Each use overdraft that you do, the Bank, if she has agreed with you, may be taken from your account of the money paying the service rendered: agios. These include interest, fees and commissions.
- Flat Agios
Most of the banks is the Bill of a minimum flat rate for any overdraft situation regardless of its amount and its duration.
- Proportional Agios
Proportional charges are calculated according to the duration and the average amount of the use of overdraft reported an interest rate: the percentage rate of charge (APR).
The calculation rule is the following:
Agios = cumulation of the daily amounts of deficits * Teg / 365
Charges for exceeding overdraft
The Bank may agree to save operations to an account that result to exceed the limit. But it is still likely to be sanctioned by a surcharge payment incident.
This billing then takes the form of proportional agios calculated on the excess amounts reported to a higher than the originally agreed Teg Teg. This plus Teg is communicated before any record operation in excess of authorized overdraft. It takes into account the forcing and other commission intervention.
Termination
The termination of overdraft protection can be performed either by the account holder, the Bank.
- By the holder of the account:
You can terminate a credit limit or decrease its amount or its duration at any time, by mail freely prepared and sent to your bank branch.
- By the Bank:
The Bank may also terminate a credit limit or revise downward its amount or its duration. But it cannot do so unless it meets the 2 following cumulative conditions:
- Written commitments (including those registered in the account agreement),
- Do not harm you brutally important (in the absence of fault on your part) or disproportionate (in case of misconduct on your part).
If you feel that the revision or termination is unreasonable, you must enter:
- the banking Ombudsman,
- then, if necessary, engage a civil trial.
FAQ cash
What is the percentage rate (APR)?
The percentage rate of charge (APR), or annual percentage rate (APR), is the interest rate fixed by the Bank or credit institution. It allows you to assess the total cost of your credit when you take a mortgage or credit consumption.
This interest rate cannot be greater than the 'rate of usury", namely the legal maximum rate set by the Bank of France.
The TEG (or APR) must always be indicated on advertising, and prior credit offers. It must also be shown in the credit agreement.
It includes:
- The basic interest rate (or nominal rate),
- And fees, commissions and various compensation (registration fees, fees, for example).
- and possibly insurance premiums, when compulsory insurance is taken out simultaneously with the lending institution.
On the other hand, it does not include costs of notarial act related to the acquisition of the property.
Payment incidents
Unauthorized overdraft overruns and discharges the Bank of cheques, transfers or withdrawals are incidents of payment. They generate penalties and fees.
- Customer information
The Bank necessarily prevents the payer of the risk incident of payment until it occurs actually. This allows the payer able to replenish his account quickly to avoid the incident of payment. The payor is informed of the rejection of the cheque within a short time.
- Resolution of the incident
As he is informed of the incident, the payer must regularize its situation compared to its creditor:
- Or, after replenishment of the account, with a new presentation of the cheque.
- Either by direct payment of the amounts due from the creditor, by any means.
Otherwise, the payer is exposed to a civil trial against his creditor and, in the case of NSF, to become prohibited Bank for 5 years. All fees charged by the Bank in case of check by a ban d issue cheques must not exceed a certain ceiling based on the amount of the cheque rejected:
| Ceilings of charges for NSF check | |
| The rejected cheque | Maximum fee |
| Less than or equal to €50 | €30 |
| More than €50 | €50 |
These costs are understood the billing of the various letters relating to the incident of payment and sent by the Bank.
Note:
The rejection of a cheque presented repeatedly in 30 days after the first rejection is a one-time incident.
- Memorization of the incident
The memory of the incidents of unsolved payment can be stored:
- In private bank files concerned,
- In the central file of cheques (FCC) and the national file of irregular checks (FNCI), in the case of NSF,.
- In the file of the incidents of repayment of the loans to individuals (FICP), in the event of chargebacks related to maturities of credit.
After adjustment, the memory of the incidents of payment can no longer be kept in private bank files.
Rejection of a transfer or withdrawal
- Customer information
The Bank is not obliged to prevent the payor of intention to reject the order or collect fees of forcing.
The Bank is not obliged to inform the payer of the rejection decision. This one has knowledge by consulting its accounts or questioning his bank.
- Resolution of the incident
As he is informed of the incident, the payer must regularize its situation compared to its creditor:
- Or, after replenishment of the account, with a new presentation of the payment order.
- Either by direct payment of the amounts due from the creditor, by any means.
Otherwise, the payer is exposed to a civil trial against his creditor and, in the case of NSF, to become prohibited Bank for 5 years.
The amount of bank fees may not exceed the amount of the rejected payment order and is capped at €20.
- Memorization of the incident
The memory of the incidents of unsolved payment can be stored:
- In private bank files concerned,
- In the central file of cheques (FCC) and the national file of irregular checks (FNCI), in the case of NSF,.
- In the file of the incidents of repayment of the loans to individuals (FICP), in the event of chargebacks related to maturities of credit.
After adjustment, the memory of the incidents of payment can no longer be kept in private bank files.
- Customer information
The Bank is not obliged to prevent the payor of intention to reject the order or collect fees of forcing.
However, the payor is informed of the decision of rejection in a short time.
- Resolution of the incident
As he is informed of the incident, the payer must regularize his situation:
- Be refuelling his account,
- Either by direct payment of the amounts due from the creditor, by any other means
- Memorization of the incident
The memory of the incidents of unsolved payment can be stored:
- In private bank files concerned,
- In the central file of cheques (FCC) and the national file of irregular checks (FNCI), in the case of NSF,.
- In the file of the incidents of repayment of the loans to individuals (FICP), in the event of chargebacks related to maturities of credit.
After adjustment, the memory of the incidents of payment can no longer be kept in private bank files.
References
Relations between banks and their customers
Charge for cheque rejected
Fees for transfer or removal order rejected
Charges for exceeding authorised overdraft
Percentage rate (definition)
Percentage rate (calculation)
Maximum charges for exceeding authorised overdraft
Law for banks to charge fees
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