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Francophil
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| Joined: | Mon Feb 15th, 2010 |
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Posted: Thu Jun 10th, 2010 10:54 am |
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Does anyone bank with a bank that charges you for viewing your account on line? If so, are you happy about it? If not what have you done about it?
ALSO - my bank charges me a hefty sum each time I transfer euros from the UK via a Currency dealer. I've drawn the bank's attention to European directive PSD 2007 (I think) which my dealer tells me makes it illegal or at least unwisefor the bank to continue doing this. Nevertheless the bank continues to do it and its promise to "look into it" has come to nothing.
Does anyone else share this problem - if so, have you done anything about it?
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Coustarrasses
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| Joined: | Fri Jun 29th, 2007 |
| Location: | Eymet |
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Posted: Thu Jun 10th, 2010 11:26 am |
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There is a company which transfers money from the UK and guarantees no charges by the receiving bank or they will refund the charges. (I'll send a p.m. to advise). I've always found them competitive on exchange rates.
As regards internet access, I don't know of a French bank which doesn't charge for Internet access despite this reducing foot fall in the bank branches. I just don't use it and won't until they realise it is in their own interest to make it free and it saves them money.
While on the subject of illogical charges, why do banks discourage a more widespread use of debit cards as opposed to cheques by charging for debit cards. Debit cards must be a cheaper form of payment transaction so why encourage all that lost time writing a cheque in supermarket and other checkouts etc whilst costing the banks more.
But then.... we are in France and that's the way they do it so no great problem.
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Francophil
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Posted: Thu Jun 10th, 2010 11:47 am |
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Thanks Coustarasses - extremely useful.
I have to say,though, that the philosophy "we're in France and that's the way they do it" irks me. The fact that the tabac in the square stocks English and other language periodicals shows that the French are susceptible to change.
There are more young French in London than there are British expats in the whole of France - let's hope that they bring back a breath of fresh air to L'Hexagone, in the form of good ole British open thinking.
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Steven
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| Joined: | Fri Dec 24th, 2004 |
| Location: | Roumagne, France |
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Posted: Thu Jun 10th, 2010 01:30 pm |
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I bank with CA Britline and they make no charges for their internet banking. The only downside is having to post any cheques for paying in off to them.
Steve
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Coustarrasses
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Posted: Thu Jun 10th, 2010 01:46 pm |
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| Support your local bank!!!
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Steven
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| Joined: | Fri Dec 24th, 2004 |
| Location: | Roumagne, France |
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Posted: Thu Jun 10th, 2010 02:37 pm |
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It was my local french bank when I lived in the UK!! and didnt change to a local one when I saw how expensive they were!!
Steve
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piquet
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Posted: Thu Jun 10th, 2010 07:21 pm |
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After a disappointing experience with Banque Pop we have changed to a certain bank in Bergerac, their internet banking is free or at least included in the monthly charge for CB etc, which is no more than usual. They do not charge me to receive a monthly inflow of euros from Moneycorp.
PM me if you want to know more.
Piquet
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Coustarrasses
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Posted: Thu Jun 10th, 2010 07:31 pm |
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| Nobody gets a fee from the receiving bank with Moneycorp. It's the one I referred to above - it's a Moneycorp guarantee.
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Francophil
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Posted: Thu Jun 10th, 2010 07:51 pm |
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| I've had a look at Moneycorp website. It makes clear that Moneycorp cannot guarantee that the receiving bank will not deduct a charge once the transfer has been made.
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Coustarrasses
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Posted: Thu Jun 10th, 2010 08:37 pm |
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Sorry, they appear to have dropped their "no receiving bank charges or a refund" guarantee which was in place since I first used them 4 years ago. BP mustn't charge as a policy because I have never paid any since and thought this might be linked to the Moneycorp guarantee. It appears that it's BP's policy.
Just shows you need to keep and eye out for changes of terms and conditions
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jo_bd
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| Joined: | Fri Jun 8th, 2007 |
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Posted: Fri Jun 11th, 2010 05:53 am |
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CA charge for debit cards, as you say it seems to be common usage but we are pleased with their service. They don't charge for receiving money or anything extra for internet use, which I find invaluable. In particular the automatic placing of money received into an interest bearing account and drip feeding it when needed into the current account is an excellent service and one I tried. and failed, to find in the UK.
My UK bank charges £9 per sterling/euro transfer which takes two working days (they guarantee up to 4) but the last time I checked their exchange rate was better or the same as the two commercial tranfer agencies that advertise a lot.
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Coustarrasses
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Posted: Fri Jun 11th, 2010 06:21 am |
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The commercial exchange companies' rates vary according to the amount you are transferring. I can always get 2 points off the interbank rate e.g. interbank rate = 1.20, Moneycorp offer 1.18 for sums between £5k and £10K. Sometimes you have to respond with "I was expecting better" and they will up it very slightly.
Most banks work on the inertia principle that, once they've got you, you won't bother to look elsewhere so it does pay to check the competition out from time to time.
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Katisha
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| Joined: | Mon Feb 8th, 2010 |
| Location: | Lauzun |
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Posted: Fri Jun 11th, 2010 06:49 am |
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| I know I don't understand high finance but I thought the interbank rate was the exchange rate decided on a particular day? Why when it is 1.20 would you want to go with 1.18? Enlightenment welcomed!
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Jeannie D
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Posted: Fri Jun 11th, 2010 07:10 am |
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jo_bd wrote: In particular the automatic placing of money received into an interest bearing account and drip feeding it when needed into the current account is an excellent service and one I tried. and failed, to find in the UK.
Jo_bd, did you have to ask for this type of account particularly or is it the standard account offered to all by the bank concerned? I would appreciate knowing because I am currently sifting through online info about French banks prior to our next visit in July. Thanks.
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Coustarrasses
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Posted: Fri Jun 11th, 2010 07:20 am |
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Why when it is 1.20 would you want to go with 1.18? Enlightenment welcomed!
The interbank rate is just that, the rate banks use between themselves and is valid for transactions of more than £1/2 million. Banks then make their profit between this rate and the rate they charge individual customers (the spread). Last edited on Fri Jun 11th, 2010 07:21 am by Coustarrasses
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