Monabanq. Possible without an existing French account?
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- IanCharlton
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Monabanq. Possible without an existing French account?
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
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
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- Tiffany
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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.
- PaddyFrog
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- IanCharlton
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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.
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.
- IanCharlton
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- Tiffany
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- Roger O
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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.
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.
- IanCharlton
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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
"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
- john
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- IanCharlton
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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
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
- john
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- Tiffany
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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.
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.
- IanCharlton
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- IanCharlton
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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!
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!
- Roger O
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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!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,
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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
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
- john
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Come on,Rog....even you must know that there's a bit more to it than that.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!
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.
- Roger O
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I don't call 4 1/2 to 5% that bad! depends on which accounts you're using!!john wrote:Come on,Rog....even you must know that there's a bit more to it than that.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!
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.
- Tiffany
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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?
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?
- IanCharlton
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