The conditions to qualify for basic banking services without having to shell out a penny are more draconian.
Zero euro. It is this that can cost an account and a card in many of the online banks. If you are comfortable with the operations through the Internet, most of the banking services of daily life are also free or inexpensive. “These institutions are engaged in a fierce competition on fees,” says Laure Prenat, director-general of the comparator Panorabanques. Tempting offers are reserved to a wealthy clientele ? Not really.
To be accepted and benefit from the free access of the account and the card, there are prerequisite. It is usually thresholds of net revenue monthly, but which are not draconian. Thus, for a standard card (Mastercard or Visa Classic, according to the networks), 1000 € is enough for Boursorama Bank or Hello bank!, 1200 for Fortuneo and BforBank. This requirement can often be circumvented by the holding of savings (2500 € for example for Boursorama). A condition of regular use of the card is sometimes added to the revenue threshold. But nothing unreasonable there either. At BforBank, you’ll need to make at least three payments per quarter, under the penalty of being charged 6 €. At Fortuneo, it is a payment per month. It costs you otherwise 3 €. These terms of use are not surprising little : “The banking institutions to pay particular by collecting a commission on purchases by credit card”, points out Laure Prenat.
the Icing on the cake : no one will force you not even to domicile your income. Only ING is asking customers not holding 5000 € savings in it to deposit 1200 € each month on their current account (£5 monthly fee is due in case of non-compliance).
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A handful of online banks provide same now free of charge account and credit card numbers without the requirement of a minimum level of income. This is the case of Orange Bank (mid-way between the on-line banks, that offer banking services is now very extensive, and the “néobanques”, limited-service). The condition of the free ? Make at least three payments or withdrawals each month (it will cost you, otherwise € 5 per month). Attention card, the proposed debit is a Visa “to permission” – the balance of your account is queried when you use it. An offer close to it, called “Welcome”, is available in Boursorama. Here, too, the card is a permission and it will be necessary to perform at least one payment per month for not imposing a £ 5 monthly.
Axa Banque (template located between online banks and “hard”) offers a Visa Classic with no fees or minimum income, but with a condition-of-use important : to spend it with his card at least 900 € per quarter, or € 450 for at least 30 years (price in case of non-compliance : 15 € / quarter).
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Bank online does not mean minimum service. Is it necessary to give up the physical contact with a counsellor, as well as the ability to deposit cash on his account (outside of Hello bank! and Axa Bank), open a joint account with two free cards is not a problem if you comply with the conditions laid down. It is also quite possible to get a premium card, a deferred debit, a cheque book or an overdraft facility. Most of these banks offer as a bonus a welcome bonus, history of encourage you to test their services… keep in mind, however : they can still reject your account application without stating any reasons, even if you meet the criteria.
The irresistible rise of online banks
4 to 5 million : this is the number of customers that would be online banks.
One third of the opening of accounts carried out in 2017 in France have been in a “new actor” bank (outside of traditional banks, so).
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