If you have a bank account in France, it may be advisable to note the following:
Never issue a cheque without sufficient provision in the bank to meet it. If the cheque is not met, the matter will be reported and the Banque de France can impose a ban called Interdit Bancaire. This means that for 5 years you would not be allowed to issue cheques. Also, do not write open date or post dated cheques. Note that when paying by card in France, you are using the ( CB )Carte Bleu payment.
The savings account = compte d' epargne.
The long term savings account = compte d' epargne logement.
The tax exempt savings account = codevi
The current account = compte courante
An overdraft = decouvert
The clearance of a cheque = encaissment
The ATM machine = distributeur or guishet automatique
The balance = solde
The statement of account = releve de compte
The permission to debit your account the provider is asking = titre inter bancaire de payment ( TIP )
Interest rate = taux
Account holder = titulaire
Transfer of funds to some other account = virement
Detailed particulars of your account and bank = releve d'identite bancaire ( RIB )
Direct debit = prelevement automatique
If you are repaying a mortgage in France, make sure that you keep up the payments
in time. This applies also to any other loans you might have, because to get black listed does not take too long.
Mostly, foreigners who open a bank account in France are those who wish to buy a property there. It is imperative to have an account because there are so many things to be paid when one owns a house. Water, gas, electricity, not to mention other payments before one even moves in.
For instance, you must pay the French notary who deals with the matter of exchange of contracts as well as all the searches regarding the property. One must bear in mind that he does not work for the buyer or the seller, but works for the State. Never be late in paying him.
Still talking about money, it might be worth your while to give serious time to understand the French inheritance law. There is a big difference regarding this subject compared to other areas of the world, and before doing anything else, make sure you really study the situation.
Here is a list of some of the big banks in France: Le Credit Agricole, Banque, Populaire, BNP Paribas, Caisse d' Epargue, Credit Mutuel, Societe Generale ,HSBC, Barclays.
Author Resource:-
Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates and international money transfers. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.
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