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Has anyone on the forum opened a Monabanq account without having an existing French bank account? The Terms & Conditions appear to require an RIB from a.n. other French bank as part of the account opening process.

Their charges look reasonable & in principle it's possible to transfer funds in Euros direct from a UK VISA debit card. If that's the case, there'll be no extortionate transfer charges (I'm thinking Nationwide FlexAccount...)

I can't find anything in their FAQs.

Any comments would be appreciated.
Thanks,
Ian

Welcome, Ian.

Sorry, I can't help

Hi Ian, We have a Monabanq account, and after extensive research, I can confirm that it is the cheapest (along with Boursarama) bank account around. Admittedly we had a BNP account before, but I'm pretty sure you don't need a RIB to open the account. You need to send proof of address and perhaps proof of identity - I can't really remember, and I can't seem to find the link on the site for the list of stuff to send. If you post the link where you read about a RIB, I'll have a look if you like. However, I can vouch for them, they do exactly what they say on the tin - for a lot less money.

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Thanks Tiffany,
This is the link to their T&Cs pdf: http://www.monabanq.com/pdf/CG_Accueil.pdf

It may be that it's just the normal "formula" for applications, but maybe they work on the basis of taking only those clients with an established credit history in France...

I've just spotted an e-mail link on their documentation page at
http://www.monabanq.com/produits-bancai ... caires.asp. I'll give it a try in a bit.

Michael,
Thanks for the link, Complicio hadn't popped up in my websearches.
I've added it to my favourites for later reference, as it looks like it's a loan product & it's a current account I'm after for now.

Well, I'll be...you're not wrong, Ian, they require a RIB. So do Boursorama, as I checked for you. Would you like me to enquire of my personal banking advisor what happens if you don't already have an account if France?

Thanks Tiffany,
I've just e-mailed them. Can I come back to you if I get a "pas possible" on the grounds that it might be a Gallic "I don't know"?
Ta,
Ian

Of-course you can. I can't believe you can't open an account with them if you don't already have an account somewhere, that would be a bit bizarre. Bon chance!

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The European Money Laundering Convention? Where's that being held? Where can I get tickets?

IanCharlton wrote:The European Money Laundering Convention? Where's that being held? Where can I get tickets?

They've sold out!

Everyone's gotta have a first account sometime.

While we were still living in Switzerland back in 92 we opened an account with the Crédit Mutuel in Perpignan (from Zürich, by registered letter) for the purpose of handling any French charges/letting income from the house we were negotiating to buy at that time in the Vallée Heureuse.

However, we also included in that letter a recommendation from Crédit Mutuel, Bretagne, where my father-in-law maintains a "respectable" account. Perhaps you have someone local and "respectable" who could vouch for you - if that would work as an alternative?

We ended up buying that house using a 100% (!) loan from the Crédit Mutuel, as I had meanwhile discovered that the Swiss allow full tax deduction on each and every mortgaged property one owns - anywhere in the world - whether or not lived in by you - which made the deal extremely interesting. We sold the place after we moved to France as it was of no interest (climatewise nor financially) to maintain a résidence secondaire in the PO when we were living in Antibes. We just changed to rented holiday accommodation from Loreto in Collioure when we took a PO holiday during those 9 years.

Well, I've had a reply:
"Je vous remercie de votre intérêt pour Monabanq et vous informe qu'il vous faut être résident en France pour avoir un compte chez nous.
Comme justificatifs:

Avis d'imposition 2007
Copie de piéce d'identité recto-verso
Copie facture EDF ou Telecom"

So it's looks like a non-starter, presumably because I said in my e-mail:
"...je suis anglais avec une maison de vacances en france..."

Tiffany, could you double-check the situation for holiday home owners with your personal advisor? I'm not convinced they aren't interested in the not-quite-ex-pat-yet market. I'd really appreciate your help.
Thank,
Ian

What,in practice is the advantage of Mona Banque over having Internet facility with CA,LCL,BNPParibas,Banque Pop,etc?

Is it purely that it's a bit cheaper than the others?

Hi John,
It's the fact that you can deposit euros immediately FoC using a Nationwide FlexAccount card. Their website gives an impression of a very on-the-ball outfit as well.

I'm already paying my (being installed tomorrow) France Telecom phone & internet through my FlexAccount and want to manage everything through that UK account.

I used to have a CA Britline account until about 3 years ago, but closed it down because it was so expensive. Transferring funds was complicated & slow. I'd no real need for a french account then, but circumstances have changed.
Ian

Aha,now I see Ian,thanks. I suppose it'd be particularly useful for non or partial residents like yourself(less so for us permanent ones),which makes it all the more bizarre that they effectively debar those who would find an a/c with them most useful !!

No problem - I shall email tomorrow, and report back when I get a reply, although I notice that your reply didn't mention a RIB.

John, they and Boursorama are the cheapest banks in France - much cheaper than the others, which is why we bank with them. They charge a lot less for their cards for starters.

Thanks Tiffany, you're a star.
I was a little surprised to see no mention of a RIB in the e-mail reply.
I'm just wondering if, because of my bad French (should've used Maison Secondaire, not Maison de Vacances), they think I'm some eejut that thinks he needs a bank account to go on holiday!

Well Ian, here is my reply from Monabanq:

Bonjour,

Votre ami souhaite ouvrir un compte par contre il ne le pourra pas chez monabanq tant qu'il n'est pas résident en france, cordialement.

I used the term maison secondaire just to be sure, - so they'll only accept residents. Sorry.
Best wishes,

Ian,
Just a thought , have you tried HSBC. I know someone who is with them & does this thing with his flex account. Just an idea.

The Co-operative Bank charge £8.00 no matter how much you transfer, which appeared cheap when the pound / euro differential was greater .............

Tiffany,
Thanks for giving it a go. I really appreciate you giving up time to help me. Just a pity Monabanq don't want to play.

Puddles - I'll have another look at HSBC, but they seemed terribly expensive.

Serge - I used to use the Co-op a few years back by phone as there is no branch near me. The phone call used to take half an hour & the transfer took about a week.

Monabanq just seemed to be the ideal solution for an ex-IT bod. For the moment, I just live on the wrong patch of dirt!

Tiffany wrote:Well Ian, here is my reply from Monabanq:

Bonjour,

Votre ami souhaite ouvrir un compte par contre il ne le pourra pas chez monabanq tant qu'il n'est pas résident en france, cordialement.

I used the term maison secondaire just to be sure, - so they'll only accept residents. Sorry.
Best wishes,

That's exactly one of the big reasons why the Swiss banks are so successful - they don't care where you are, your money is with them - and they look after it very nicely for you!

Ian
somebody who might be able to advise you is Peggy at CIC bank in Thuir. She speaks excellent English and CIC do seem to have some quite good options tho' havent looked into any fees etc. Worth asking advise though.
Her email is MAIGNIPE@sb.cic.fr

Roger O wrote:]That's exactly one of the big reasons why the Swiss banks are so successful - they don't care where you are, your money is with them - and they look after it very nicely for you!

Come on,Rog....even you must know that there's a bit more to it than that.

Some of the reasons Switzerland is the biggest offshore banking place in the world is that they don't ask too many questions,turn a blind eye to blanchissement,and allow easy access.

As for "looking after you"; traditionally interest rates at Swiss banks have been (and still are) very poor.

john wrote:

Roger O wrote:]That's exactly one of the big reasons why the Swiss banks are so successful - they don't care where you are, your money is with them - and they look after it very nicely for you!

Come on,Rog....even you must know that there's a bit more to it than that.

Some of the reasons Switzerland is the biggest offshore banking place in the world is that they don't ask too many questions,turn a blind eye to blanchissement,and allow easy access.

As for "looking after you"; traditionally interest rates at Swiss banks have been (and still are) very poor.

I don't call 4 1/2 to 5% that bad! depends on which accounts you're using!!

I suppose you could open an ordinary account with someone else - if you don't ask for a card, you shouldn't pay anything, and when you've got a RIB, open the account then with Monabanq. You will have proof of residence with a utility bill and a RIB from your first bank et voila!

Did I hear you mention that you're an IT boffin? I have a burning question about wifi connectivity....perhaps you could answer it for me - your field?

Hi Tiffany,
WiFi isn't my field of expertise, but I have some knowledge & a few contacts. Fire away! I'd be pleased to chip in.