Low cost, low usage savings account?

[dbthompson]

I will be going to France this fall, for a few months, and would like to set up a savings account. I would primarily just deposit a check once, and then periodically withdraw spending cash from it. I would like to keep the account open after I leave, because I expect to return in about 18 months time (and probably will return every year or two; I'll probably be in a different city though in the future). However, while I'm away, the account would be dormant.

I was looking at Livret A accounts. It looks like La Poste charges 1,15 euros per quarter for an account. That seems good, but I could not figure out if there were non-use charges. Would an account like that be my best bet? Anything better out there? (in an older post from 2010, it seemed like there was no "free" savings accounts out there; not sure if that's changed)

Also, it looks like each Livret A account is for one person only. Do you know whether I can get a second ATM card so that my wife and I can each have a card without keeping two different accounts open?

Thanks.

[dijid]

Will you have - and maintain - a permanent address in France? Will you have a Carte de Sejour, or what will your status be while you're here? Getting a French bank account isn't easy for Americans. The other issue you'll face is that when you open an account, it's with that particular branch. If you come back to different cities in France, you could have a really hard time getting your banking done. Getting problems resolved, picking up of checks, etc. have to be done at your particular branch.

[Bevdeforges]

What dijid said.

Basically, the Livret A account is for French taxpayers - because it's tax free and normally you take a Livret A in the same bank where you have your checking account. I'm not sure there is such thing as a free checking account in France. <g> But in any event, it's rare to get Internet access to your account unless you pay a monthly subscription fee - normally about 2€ a month or so.

But in general, you don't use a bank card with your Livret A - you transfer funds from the Livret to your checking account and then you withdraw money from the checking account. And that's the trick - unless you're resident in France (and thus subject to French taxes), you can only open a "non-resident" account. I'm not sure what the restrictions are on a non-resident account, but there are some.
Cheers,
Bev

[koppazee]

My fiancée and I visited two banks. One of the two she is a long term account holder of. Both refused to open an account as I don't have a CDS. I work here in France for a US based company and paid to my US bank account, just as if i were still in the States. I am on an extended visa. Neither branch manager suggested a nonresident account. Any suggestions? I would love to begin to build myself here financially. Thanks very much!

[Bevdeforges]

The way "customer service" works in France, bankers (or anyone else, for that matter) only answer the questions posed. If you didn't ask about a non-resident account, there is no way they would ever have suggested it. Realize, too, that the banks here are shills for the fisc. You get those nice forms each year showing you just what numbers to put on which lines of your tax forms precisely because those are the numbers they are reporting to the fisc.

The fact that you don't have a carte de séjour means you're not resident - and the work arrangement with your US employer you have means that you're probably considered a "problem" for the banks. I recently had a call from my bank "counselor" asking about an unusually large deposit I made to my account. He wanted to confirm it really was from my employer - and that it covered regular income/salary and not something else (that I expect he would have had to report to the fisc).
Cheers,
Bev

[koppazee]

Thanks Bev for your quick reply. Do you suggest that I return to the banks and inquire about a nonresident account or am I just throwing away my time?

[bluesaturn]

Can I join you here please? I am also looking for a free of charge bank account. Just had a visit with Bank Rhone-Alpes but it was in vain. They want 50Euros when opening the bank account for insurance and access to online banking. There is ingdirect.fr, but I am not sure what kind of documents they need. Any experience with them? Or could you recommend a free of charge bank account, please?
Thanks
Blue

[Bevdeforges]

Originally Posted by koppazee

Thanks Bev for your quick reply. Do you suggest that I return to the banks and inquire about a nonresident account or am I just throwing away my time?

If you are indeed living in France, you're wasting your time asking about a non-resident account.
Cheers,
Bev

[Bevdeforges]

Originally Posted by bluesaturn

Can I join you here please? I am also looking for a free of charge bank account. Just had a visit with Bank Rhone-Alpes but it was in vain. They want 50Euros when opening the bank account for insurance and access to online banking. There is ingdirect.fr, but I am not sure what kind of documents they need. Any experience with them? Or could you recommend a free of charge bank account, please?
Thanks
Blue

I don't believe there is a free bank account in France - at least not if you want online banking and a carte bleue to use with the account. Lowest cost accounts are normally available through La Poste.

Just had a look at ingdirect and they require you to deposit at least 750€ a month in a compte courant (i.e. if you don't have your paycheck automatically deposited there). Nearly any bank wants to see three months worth of pay slips in order to open an account.

Maybe someone here will have a suggestion for you.
Cheers,
Bev

[bluesaturn]

Originally Posted by Bevdeforges

I don't believe there is a free bank account in France - at least not if you want online banking and a carte bleue to use with the account. Lowest cost accounts are normally available through La Poste.

Just had a look at ingdirect and they require you to deposit at least 750€ a month in a compte courant (i.e. if you don't have your paycheck automatically deposited there). Nearly any bank wants to see three months worth of pay slips in order to open an account.

Maybe someone here will have a suggestion for you.
Cheers,
Bev

Hi Bev,
thank you.
Okay, I just arrived and have only one pay slip. Monthly deposit of 750Euros would not be a problem for me. Do you mind to check for me if INGdirect wants more than one pay slip, please?
I start hating this place. Only problems. I cannot find a flat, because I am not French, it is ridiculous, but I have enough money now to pay for a good, nice flat. Nothing works here correctly, just spend 1.5hs trying to heat up my water for my pasta on the oven, but pay 795Euros for this temporary accommodation. What a stupid place. I should have really stayed in the UK. How stupid am I. Foreigners are really treated badly here.