BANKS AND MONEY
If you are only staying in Chamonix for a season and don’t need one for work reasons, then I would advise you to keep your bank account in your home country.
Many of the banks in Chamonix will not allow you to open a bank account if you do not own property and/or work here.
The banking system in France is not like the banking system in the UK. Their banks are amongst the strongest financial institutions in the world, however if you are coming to France from the UK there are some big differences which you should be aware of.
As a general rule, French banks take a tough line on unauthorised overdrafts.
Unless you receive the prior authorisation, you will not be allowed to go into debit.
Accordingly, if you issue a cheque without sufficient funds in your account, you face the risk that it will not be paid.
It is a criminal offence to write a cheque that takes your account into the red. You will receive a fine for the first offence followed by severe consequences if you make this mistake more than once. If you’re in the habit of paying first and worrying about the money later, it may be better to arrange a short-term overdraft facility for a small monthly fee.
If you find yourself in the situation where you have written a cheque without the funds to cover it you may very well receive a letter forbidding you to write another cheque for 5 years. This can happen regardless of the amount on which the cheque was drawn.
In serious cases, your bank may apply to the Bank of France to have you blacklisted by all French banks, blocking you from conducting all bank transactions until the non-payment has been cleared.
Here are a list of the banks in Chamonix:
Banque Populaires des Alpes
Banque de Savoie
BNP Paribas
Crédit Mutuelle
Banque Palatine
CIC Lyonnaise
Caisse d’Epargne
Société Générale
Banque Laydernier
The banks vary enormously. Some of them will only allow you to open an account if you work here all year round. Some will only accept people who own property. Others will accept anyone!
It is also worth noting that banks in France, do not work on a national network as they do in the UK.
For example: if you open an account with the Banque Populaire des Alpes, you will be able to use the same facilities and cash machines in all the branches of Banque Populaire des Alpes. If you go on holiday or change region, you will still see the Banque Populaire but it will no longer be ‘des Alpes’, it could be ‘Atlantique’ or Côte d’Azur’ which although part of the same network, will have completely different rules governing rates. Withdrawing from these will also incur a charge from your own bank, just as if you had used another bank entirely.
If you want to open an account or need to question any payments or interest fees please get in touch.
Paying bills in France
Cash can only be used to pay for transactions of less than 3000€. Anything over this amount must be paid by other means.
Cheques are still widely accepted, however, you must ensure that sufficient cleared funds are available against any cheque you write as your bank can 'bounce' it for all or even part of the amount. A cheque can only be stopped, however, on the grounds of loss, theft or suspected fraudulent use.
If a cheque is not paid upon its second representation within one month, or if you do not provide other proof that the debt has been settled or if this is not the first time you have issued a cheque without funds, your bank must declare the incident to the Banque de France. Unless you pay a penalty charge (by timbres fiscaux which are difficult to obtain outside of France) you may be prevented by law from obtaining a payment card and chequebook, and opening another account elsewhere in France may be more difficult in the future.
Unlike in the UK, you are expected to pay your bills straight away. You will generally get one reminder and then the next letter will be a registered letter which you will sign for, stating that you have x amount of days before the service you haven’t paid for is cut off.
You can also find that to be reconnected costs a lot of money, which will have to be paid upfront.
How I can help
Would you like to open a bank account?
Need a bank loan?
Need to know rates for transfering money?
Rules and regulations change constantly. Please get in touch if you want further information on any of the above subjects.
Back to top
Communiquer 74: Sarah Barnes Tel: 00 33 (0)6.45.85.64.95 Email: communiquer74@gmail.com
Disclaimer: The information contained in this website should be regarded as a guideline only. I try and update the information as often as possible but it is possible that certain information has been missed. I would love to be the font of all knowledge but unfortunately I am not! All situations are different and the information contained here may not be applicable to all cases. Please get in touch if you would like me to check any information in relation to your personal situation. My role is to be your voice, to ask the questions you would like asking and those that I know you should be asking. During the course of my work I have gained knowledge of lots of different aspects of French administration and can generally advise you on what is important and what isn't. Dealing with the French system on a daily basis means that I can help you do things far faster and can assist you through the minefield.
The factsheets may be printed for personal reference, but may not be published,copied or re-used for any other purpose without permission.
Many of the banks in Chamonix will not allow you to open a bank account if you do not own property and/or work here.
The banking system in France is not like the banking system in the UK. Their banks are amongst the strongest financial institutions in the world, however if you are coming to France from the UK there are some big differences which you should be aware of.
As a general rule, French banks take a tough line on unauthorised overdrafts.
Unless you receive the prior authorisation, you will not be allowed to go into debit.
Accordingly, if you issue a cheque without sufficient funds in your account, you face the risk that it will not be paid.
It is a criminal offence to write a cheque that takes your account into the red. You will receive a fine for the first offence followed by severe consequences if you make this mistake more than once. If you’re in the habit of paying first and worrying about the money later, it may be better to arrange a short-term overdraft facility for a small monthly fee.
If you find yourself in the situation where you have written a cheque without the funds to cover it you may very well receive a letter forbidding you to write another cheque for 5 years. This can happen regardless of the amount on which the cheque was drawn.
In serious cases, your bank may apply to the Bank of France to have you blacklisted by all French banks, blocking you from conducting all bank transactions until the non-payment has been cleared.
Here are a list of the banks in Chamonix:
Banque Populaires des Alpes
Banque de Savoie
BNP Paribas
Crédit Mutuelle
Banque Palatine
CIC Lyonnaise
Caisse d’Epargne
Société Générale
Banque Laydernier
The banks vary enormously. Some of them will only allow you to open an account if you work here all year round. Some will only accept people who own property. Others will accept anyone!
It is also worth noting that banks in France, do not work on a national network as they do in the UK.
For example: if you open an account with the Banque Populaire des Alpes, you will be able to use the same facilities and cash machines in all the branches of Banque Populaire des Alpes. If you go on holiday or change region, you will still see the Banque Populaire but it will no longer be ‘des Alpes’, it could be ‘Atlantique’ or Côte d’Azur’ which although part of the same network, will have completely different rules governing rates. Withdrawing from these will also incur a charge from your own bank, just as if you had used another bank entirely.
If you want to open an account or need to question any payments or interest fees please get in touch.
Paying bills in France
Cash can only be used to pay for transactions of less than 3000€. Anything over this amount must be paid by other means.
Cheques are still widely accepted, however, you must ensure that sufficient cleared funds are available against any cheque you write as your bank can 'bounce' it for all or even part of the amount. A cheque can only be stopped, however, on the grounds of loss, theft or suspected fraudulent use.
If a cheque is not paid upon its second representation within one month, or if you do not provide other proof that the debt has been settled or if this is not the first time you have issued a cheque without funds, your bank must declare the incident to the Banque de France. Unless you pay a penalty charge (by timbres fiscaux which are difficult to obtain outside of France) you may be prevented by law from obtaining a payment card and chequebook, and opening another account elsewhere in France may be more difficult in the future.
Unlike in the UK, you are expected to pay your bills straight away. You will generally get one reminder and then the next letter will be a registered letter which you will sign for, stating that you have x amount of days before the service you haven’t paid for is cut off.
You can also find that to be reconnected costs a lot of money, which will have to be paid upfront.
How I can help
Would you like to open a bank account?
Need a bank loan?
Need to know rates for transfering money?
Rules and regulations change constantly. Please get in touch if you want further information on any of the above subjects.
Back to top
Communiquer 74: Sarah Barnes Tel: 00 33 (0)6.45.85.64.95 Email: communiquer74@gmail.com
Disclaimer: The information contained in this website should be regarded as a guideline only. I try and update the information as often as possible but it is possible that certain information has been missed. I would love to be the font of all knowledge but unfortunately I am not! All situations are different and the information contained here may not be applicable to all cases. Please get in touch if you would like me to check any information in relation to your personal situation. My role is to be your voice, to ask the questions you would like asking and those that I know you should be asking. During the course of my work I have gained knowledge of lots of different aspects of French administration and can generally advise you on what is important and what isn't. Dealing with the French system on a daily basis means that I can help you do things far faster and can assist you through the minefield.
The factsheets may be printed for personal reference, but may not be published,copied or re-used for any other purpose without permission.
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