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Revolut launches new insurance for borrowers in France
The policy is available for new and existing Revolut personal loans
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Dozens more local bank branches set to close across France
Around 60 to 90 LCL French branches will shut down gradually, the bank confirmed
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Revolut launches 5.25% savings rate offer for new customers in France
The offer comes as the digital bank expands its presence in France
Right to bank account
A British reader reports that a Société Générale branch near her French holiday home no longer allows non-residents to open accounts. She asks if it applies to all French banks.
Historically banks have had differing policies with regard to this. However a recent European directive, operative in France, states that residents of EU countries have a right to open a ‘basic’ bank account in other EU countries. A compte de base is not a savings account with interest but must have essential facilities including a payment card and, if possible, access to online banking.
Banks may refuse for certain reasons, such as if you already have a French account or they suspect you of not respecting rules on money laundering. They should do so in writing and explaining the right to appeal to the Banque de France via a process called droit au compte. The BdF is able to oblige the bank, or an alternative bank, to open an account for you.
Société Générale told us it follows the directive but that the specialist staff it has to open accounts for non-residents are not present in all branches.
