On personal banking

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Tiffany
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On personal banking

Post by Tiffany »

Just reading the latest PO Life online - as always an interesting read, Kate, and would like to share a tip on the subject of banking, as I see there's an article written by the Banque Populaire du Sud.

Since moving down here, I have taken the opportunity to streamline our affairs somewhat - looking at our insurances etc. (Saved 400 euros on car insurance for better cover - one of my best triumphs!)

Bank accounts came under the microscope. We were paying €18 per month plus yearly Carte Bleu charges for an 'access libre' account with the BNP. This gave me a CB premium - very handy for a higher spending limit, like buying holidays etc. Ad Dave had a normal one - of-course! After perusing the offers available, I opened a joint account with Monabanq, which is an internet based account much in the same way as First Direct is in the UK. We pay nothing for the first year for an ordinary CB, and for my gold one it is free for the first 6 months. After that the fees are comparable with all other bank, but they have indicated that they may extend the free period. Apart from that, virements etc are free. Depositing money is no problem, they have a secure server to which you can upload the documents you need to open the account with.

In any case, their tarifs are available to see on line. We have also opened an epargne account as their net interest rate is very competitive. They are very contactable, an my 'conseiller' likes to practise her english with me.

I am very pleased with the service so far, as I find the banks insultingly expensive. I shall be working on the pro accounts next, having had horrendous charges for our SARL account for July - and we're not even open yet!

If you're interested, have a look at
www.monabanq.com
Boursarama also offer a good deal, but I think Monabanq pipped them to the post.

Hope this helps,
Tiffany
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john
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Post by john »

On the face of it,Tiffany this Monabank seems to offer a good deal,but I have to say you are being wildly overcharged by BNP for services and CB/Visa. I have all these services from them,and do not pay remotely anything like the figure you quote. Did you ask BNP for a reduction in fees? Maybe as you have a "business" a/c with them as well they see you as a cash cow.

As far as Gold cards are concerned,I've just kept my Nationwide one from the UK,it doesn't cost me a cent,and they give an excellent exchange rate on purchases/cash.Of course you need a UK Bank a/c to run it, but that's not a problem.

In most weeks I pay a good deal of cash into my BNP a/c ;easy at the many BNP branches locally. I've often wondered with these branchless banks like Monabank and First Direct,how,in practice do you do that?
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Tiffany
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Personal banking

Post by Tiffany »

Hi John, BNP 's tarifs are posted for all to see. I had an Esprit Libre account which provided a premier visa card, plus a cirrus card for access to the mastercard network, but it also included stuff like 'security services' where they protect all your valuable documents and keys. Nice to have, but rarely used! This is €16,85 (HT) per month - it also includes 2 free virements and various 'allowances',per year. Dave's card was charged at half price because it was on the same account, so instead of €47,50 a year, €23,75 per year. So I guess you have a different sort of account.

On the subject of UK gold cards, when I was living in the UK (last in about 1994) there was an annual fee for the cards - quite steep as I recall, over £100 - do they not charge anymore. In any case they would be unlikely to give me one as I do not earn in the UK.

You can pay in cash through the post office, cheques you register online and they are credited immediately on your account as long as they are then received within 4 days and you can withdraw cash free from any ATM. Although as far as cash is concerned France is very much drifting towards a cashless society, most payments are made by virement or cheque. In my experience, if you have cash, you dont want to go near a bank account with it! My Dad banks with First Direct, and I think he pays in through HSBC.
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