Are you looking to choose your first, or new bank, but are lost on the criteria to consider? It's normal, it's a decision that has a long-term impact and needs to think carefully. Don't panic, we will guide you step by step so that you can make the choice most suited to your needs.
Choose a bank based on your profile
To begin with, it is useful to examine your own expectations and objectives. before putting them in perspective with the available offers.
Your customer profile
The most important thing in choosing a bank is to understand your own profile. The latter has a key role in knowing what type of bank will be in harmony with you. Some factors to consider include:
- Your age
- Your employment situation
- Your monthly and annual income
- Your total heritage
- Characteristics of your profession
Depending on these elements, some banks will be more appropriate than others. For example, there are banks specifically for students, active employees, high incomes or travellers. Take these aspects into account in making a wise choice.
Your projects
Let's look at your future plans. If you are interested in acquiring a real estate, the interest rate on loans is a key parameter. It varies from bank to bank and determines the total amount you will have to repay.
Similarly, borrowing options and banking insurance are to be examined closely. File fees may also vary, ranging from zero euro to more than 1 000 €. If you are a student and do not have initial capital, the required personal input can play a decisive role.
Your needs
Your needs evolve with your projects, which will greatly influence your bank's choice. If you are single, a current account will suffice, while a family will probably opt for a joint account to better manage the family budget.
For a substantial professional activity, a professional account will be very useful. If you want diversified credit cards and personalized services, integrate these elements into your selection criteria.
Finally, if you prefer an advisor to accompany you in your financial projects, or if you want to manage your accounts independently, this will influence your choice between a traditional bank or online.
Choose a bank based on the characteristics of each institution
Let us now look at the views of the banks themselves. Each institution has its own assets to consider. Fortunately, the large number of banks available increases the chances of finding the one that meets your needs. Here are some elements to analyze.
Bank rates
To choose your bank, rates and bank charges are essential. Compare the rates of the different banks in your region to determine which one will be the most economical for you. Some banks offer more advantageous tariff schedules and do not always require a minimum income.
The management of your accounts, the use of bank cards, and even possible incidents or commissions may incur fees. Anticipating this kind of cost will save you bad surprises. Use online comparators to get a precise idea.
Financial products and banking network
Take into account the financial products offered by each bank. This includes interest rates for real estate loans and the cap on livrets for those saving large sums. Savings arrangements and insurance (life, car, etc.) are also points to consider.
The size of the network is also crucial. Are there enough agencies and distributors in your area? Can you meet your advisor physically or only online? This leads us to the question of the choice between traditional bank and online bank.
Traditional or online banking
Choosing between a traditional bank and an online bank is not trivial. Online banks offer accessibility and simplified management, but some have requirements such as home ownership. Traditional banks, on the other hand, offer greater proximity but with higher fees.
Traditional banks
| Benefits | Disadvantages |
|---|---|
| Community relations | High rates |
| Network of agencies | Additional costs |
| More services offered | Limited customer service |
Traditional banks offer extensive services with a dedicated advisor, but their rates are often high, and customer service schedules may lack flexibility.
Banques en ligne
| Benefits | Disadvantages |
|---|---|
| Attractive rates | No human contact |
| Seductive offers | Restrictive entry conditions |
| Customer service responsiveness | Compulsory income registration |
Online banks, although offering competitive fees, still need to develop certain financial products and may have restrictive requirements.
Compare bank offers according to your profile
Banking needs change dramatically depending on your profile. Whether you are a young active, employed, executive or senior, here are some examples of suitable banks.
Recommended banks for active young people
For young employees, online banks such as BoursoBank and Fortuneo are ideal thanks to their low cost and adapted online services. For example, BoursoBank offers a free current account and benefits such as free transfers.
| Bank | Annual cost | Products offered |
|---|---|---|
| BoursoBank | 0 € | Current account, free card |
| Fortuneo | 0 € | Current accounts, savings |
| N26 | 0 € – 9,90 €/month | Premium account, instant transfers |
Best options for employees
Employees can take advantage of the full services of traditional banks or offers from online banks such as Hello Bank. For example, SG (Société Générale) offers services tailored to employees with reduced costs for current operations.
| Bank | Annual fee | Specific services |
|---|---|---|
| SG | 30 € – 60 € | Current account, savings |
| BNP Paribas | 30 € – 57 € | Current account, online services |
| Hello Bank | 30 € – 50 € | Free credit card in the first year |
Ideal banks for executives
Executives are looking for premium services. BoursoBank and Fortuneo offer high-end cards with attractive credit and savings conditions. The Gold Mastercard in Fortuneo is offered without income conditions.
| Bank | Products | Benefits |
|---|---|---|
| BoursoBank | Gold Mastercard | Free card, free withdrawals |
| Fortuneo | Gold Card | Free card, savings |
| Monabanq | Visa First Card | Access to several credit products |
Advanced criteria for choosing well
Apart from bank charges and products, several factors must be taken into account. Examine the quality of customer service, the financial strength of the establishment, and even customer reviews.
Quality of customer service
Reactivity and availability of customer service are key elements. For example, BoursoBank is praised for its live chat support. Consult customer reviews on platforms like Trustpilot for an idea of the quality of support.
Financial security and institutional strength
A strong bank guarantees the security of your deposits. See credit agency financial reports and ratings. For example, BNP Paribas and Crédit Agricole are often well rated and therefore reliable.
Ergonomics of the website and mobile application
Make sure online tools are easy to use. For example, the N26 application is recognized for its intuitive interface. Compare the different sites and applications to evaluate their ergonomics.
If your needs change, it is essential to know how to perform a change of banking advisor: approaches and impacts to anticipate.
Tips for changing banks easily
Changing banks may seem difficult, but with a few simple tips, it's quite feasible. Here's how to make your transition smooth.
Steps to changing banks
Here are the steps you need to follow to change your bank smoothly:
- Prepare the necessary documents
- Open a new account
- Transfer your automatic debits and permanent transfers
- Close the old account once all transactions are transferred
Use the bank mobility service
Most banks offer a free banking mobility service to simplify the transfer of your recurring transactions and close your old account. For example, BNP Paribas offers a comprehensive service to handle all administrative processes.
FAQ on bank change
Answer frequently asked questions about bank changes such as delays, potential fees, and tips to avoid service interruptions.
FAQ on banking choice and change
Do you have any questions about choosing or changing banks? See our FAQ for detailed answers to common questions.
How to choose the best bank for your needs?
Here are the essential criteria to select the bank that will be perfect for you: evaluate your profile, projects and use online comparators.
I want to change banks, what steps should I take?
A detailed guide to changing banks without compromising your current operations. Use the banking mobility service for a smooth transition.
Final checklist: Summary of key points
Before making your decision, consult this checklist to make sure you haven't forgotten anything. This is a summary of the essential points to check to choose your bank.
Check the bank charges
Know the bank charges for current and specific transactions. Compare the tariff grids according to your needs.
Evaluate the products and services offered
Make sure the bank offers the products and services you need: savings, credit, insurance, etc. Compare the proposed conditions and benefits.
Analyze the quality of customer service
The quality of customer service is crucial. Consult customer reviews, assess advisor availability and online support responsiveness.