Exaggerated account management fees, search for quality services, good account management... Here are so manyreasonsThat pushes us to change banks. This is not an obstacle race, on the contrary, it is simply done.
In fact, every customer wants to find a bank on thecheaper possible. In addition, customers aspire tochange of bank without charge, orfree transfer. Would that be possible, and how do you take it? Through this article and the few tips that follow, we explain how to change bank without charge.
What are the options available to you?
That's it, your choice is made: to change bank in order to enjoy betterBank conditions and rates. Then how? TwooptionsYou are offered:
- Take stepsAll alone. In this case, it is up to you to make the account change;
- Ask for help from yournew banking institution, in accordance with the Macron Law and the Bank Mobility Programme.
The advantage of the Macron law
The so-called Macron law on banking mobility came into effect from the month ofFebruary 2017. Its objective isfacilitate the change of banking establishmentfor the benefit of individuals. From now on, any bank is obliged to offer a free servicesupport for banking mobilityitsnew customers. Thus, banks will have to assist any customer who wishes to change his bank home.
As for the client, he must just affix hissignatureon a proxy for bank mobility followed by abank identity statement(RIB). Let us remember that there is only thecurrent accounts,eitherindividual accounts, ofdeposit, orjointandpayment accountswhich are concerned by this servicesupport for banking mobility. Savings accounts are excluded.
Steps for an easy and free bank change
To make a change of bank, it is necessarytake some steps. You will be obliged to follow all procedures, if you want to do so yourself. On the other hand, by receiving assistance for bank mobility, it is up to your future bank to assist you. It will be responsible for the formalities relating to the transfer of levies and transfers.
Start by opening a new bank account
When you choose to change banks, you must first think aboutOpen another bank account. So, consult online theComparison of banksto choose the bank that will meet your needs. Operation isFree of chargeand allows to pay money to prepare thefirst levies. In addition, you will be entitled to a newbank account number. This number is essential to transfer your old debits and transfers to the new account.
Transfer levies and bank transfers
This second phase consists of transferring all of yourbanking. When you have a mobility mandate, the bank to which you migrate, supports thetransfer of bank details.It will also take into account thechange of addressto make levies and transfers.
In concrete terms, this bank requires your ex-bank todirectory of structureshave made levies and transfers or periodic transfers to your account. It will also request a census ofcheques drawn upandUncashedin the last 13 months. As soon as the bank obtains this list, it informs each of the structures. So you won't have to call each of them personally, sometimes expensive and difficult.
As regards the services to be contacted when you want to change your bank, these include Internet, telephone, gas and electricity providers. Mutuals, taxes, insurance, employers, social security are as many services as you can add to your list.
Launch the closure of the old bank account
The last step towards a change of bank is toclose old account. As long as a mobility mandate has been signed, the new bank will also be able to deal with it. In order to do this yourself, one must address aaccount closing letterby registered mail accompanied byNotice of receipt.
In both cases, you will surely be invited todestroy your payment media(cheque, bank card) orreturn to your bank. Furthermore, you must make sure that your ex-bank account remainsWell creditedduring a given period. This is the only way to avoid any payment incident.
Changing banking: how to migrate to an electronic bank?
An increasing number of French citizens opt for the change of a conventional bank to an electronic bank. Here too, the procedures do notno difficultyHey! As soon as you choose your virtual bank, you only need to complete a subscription form to open an online account. You will then sign your online subscription form and send thedocuments requiredthe opening of the account.
However,signing of a mandatebank mobility commits your new electronic bank tomaking bank transfersandclose your ex-account. Otherwise, it is your responsibility to do these operations. When migrating tovirtual bank, internet banking institutions mostly demand afirst payment.
How long does it take to change bank?
Such an operation can actually be carried out in ashort deadline, especially when you have abank mobility mandate. Then, the bank change causes the debits and transfers to be domiciled on the new account. For an effective operation, it will be necessary to wait until22 working days.
Drafting opinion
Before a bank account is closed, it is of course necessary to respect a few steps to ensure thatprevent any payment incident. Thanks to the implementation since February 2017 of an emblematic measure of the Macron Act, these measures are now lighter. We strongly urge you tonot immediately transfer your levies and transfers. Instead, take the time to appropriate and verify theoperation of the new accountbanking.
For a start, perform adirect flowfrom the new account. Proceed with atransfer of fundsto the outside, use yourcredit cardfor a cash withdrawal or payment. Then check the data ofaccount statement. Depending on your needs, establish achequeto pay an amount to a client or use the cheque received to cash. At the end of this trial, you will decide whether to continue with the new bank.