4. Managing Your French Bank Account

1. 4.1. Cash Withdrawals
2. 4.2. Direct Debits and Standing Orders
3. 4.3. Statements
4. 4.4. Bank Overdrafts
5. 4.5. Closing/Transferring Account
6. 4.6. Seizure of Account

4.5. Closing a French Bank Account

If you later wish to close a current or standard savings account, there is no charge for doing so, although this is a fairly recent change. Until Jan 05 you used to have to pay for the privilege of changing banks!

However, the banks are still permitted to make a charge for closing certain types of regulated savings accounts, and if you wish to transfer the account to another bank, there will also be a charge.

In the case of a joint account, either account holder can close the account, even without the consent of the other account holder.

Given the French intolerence of unauthorised overdrafts, it would also be best if you first opened a bank account in your new bank to avoid potential embarrassment with any outstanding cheques or standing orders/direct debits operating in existing account.

You should then send your bank account details Relevé d'Identité Bancaire - RIB to those where you have standing orders and direct debits in place, advising them of your new bank.