The price of having a French bank account

THE post has just arrived and in amongst the envelopes is one from my bank, Crédit Agricole, outlining the fees I was charged in 2009.

At the beginning of the year French banks send a similar breakdown of costs to their customers highlighting the price for such things as having a debit card, possible insurances and money transfer fees.

And it is also when consumer watchdog, CLCV, publishes research into the cost of holding an account with different French banks.

The overall bill had dropped compared to this time last year, but there was still a massive difference in the fees banks charged for similar services.

Many of the regional Crédit Agricole banks proved to be amongst the lowest charging, with La Banque Postal also offering lower priced services.

The CLCV website offers more detail and a .pdf document you can download to study the figures from individual regions.

Comments

[Geoffrey Coan]

When we bought our French holiday home I researched the different bank account options and in the end settled for La Poste as being the cheapest option.
As well as the annual account fees there are separate fees for each debit card, or you can pay a higher fee to have a credit card that settles at the end of the month. For us it made no real benefit to have a credit card so we went for the cheaper option.
All in all I've been reasonably happy with La Poste over the last 5 years. The charges are reasonable (although free would be nicer!) and the Internet banking is a godsend.

[Craig McGinty]

Hi Geoffrey, others I've spoken to with a La Poste account have praised the service, it seems a wise choice. All the best, Craig

[ALEXANDER HAY]

These exchanges jogged my memory about personal and friends' experiences with banks. Examples:-

1. Some months ago a Euros 500 cash withdrawal appeared on my HSBC account, having been processed from another branch of HSBC in a different town. As it wasn't mine I complained at once and the cash was returned to my account the next day but without even the hint of an apology. It transpired that the withdrawal had been made by someone with a similar name to mine and when handing over the cash no care had been taken ensure that the account was the right one. As I knew the other person the error was sorted out swiftly but what would have happened if it had been a stranger?

2. Recently a Euros 40 payment to Orange was
deducted from my account without any request from the bank to me or authorisation by me.

3. A couple of weeks ago a friend was shortchanged by Euros 50 by an autoteller in the evening when the bank concerned was shut. When she reported it with her receipt the next day she was told a check would be made of the machine. To date there has been no more word from the bank.

[Craig McGinty]

Hi Alexander, I'm sure many would agree that life would be easier if banks, internet firms and other such types just did their job properly, instead of being masters at annoying people.
Thanks for your comment, Craig