Living in France, you may notice monthly bank fees that silently eat away at your budget 😨. Unlike in Korea, these fees can add up quickly €10 per month becomes €120 per year. That money could go into investments or simply enjoying life 😠.
Traditional banks like BNP Paribas, Société Générale, or LCL charge multiple fees:
- Frais de tenue de compte: Monthly account maintenance fees (approx. €2–3/month).
- Cotisation: Annual fees for debit or credit cards, €7–10/month depending on type.
Note: Many banks waive account fees if you actively use your card.
✅ Advantages of Online Banks
- Zero maintenance fees: Most online banks charge no monthly fees, and cards are free if conditions are met 💳.
- Access to traditional branches: Hello Bank! works with BNP Paribas branches, Boursobank with Société Générale. Deposits and withdrawals are easy 🙌.
- Convenient app-based management: Manage transfers, alerts, and accounts from your phone 📱.
⚠️ Check conditions: Some online cards require monthly usage.
📬 How to Close a Bank Account in France (Clôture de compte bancaire)
- Redirect automatic transfers and payments (rent, salary, EDF, CAF, etc.).
- Transfer remaining balance to another account.
- Prepare a closure request letter and send via registered mail.
- Most closures are free, minor postal fees may apply.
Sample Closure Letter
[Your Name] [Address] [Postal Code, City] [Bank Branch Name] [Branch Address] [Postal Code, City] [Date] Subject: Request to Close Bank Account No. [Account Number] Dear Sir/Madam, I hereby request the closure of my bank account No. [Account Number], opened under the name [Your Name]. Please transfer the remaining balance to the following account: - IBAN: [Recipient IBAN] - BIC: [Recipient BIC] - Account Holder: [Recipient Name] All associated payment methods (cards, checks) have been destroyed. Kindly send a closure statement once completed. Sincerely, [Signature]
✍️ How to Cancel a Bank Card (Résiliation de carte bancaire)
Notify 1–2 months before the desired end date. Send a registered letter and destroy or return the card upon confirmation.
Sample Card Cancellation Letter
[Your Name] [Address] [Postal Code, City] [Bank Branch Name] [Branch Address] [Postal Code, City] [Date] Subject: Request to Cancel Bank Card No. [Card Number] as of [Desired Date] Dear Sir/Madam, I wish to cancel my bank card No. [Card Number], linked to account No. [Account Number], effective [Desired Date]. I confirm that the card has been destroyed. Please process my request. Sincerely, [Signature]
Card Destruction Tips
- Cut the magnetic stripe and chip.
- Divide into at least three pieces and dispose safely.
Most banks allow account and card cancellation without visiting a branch. Check the bank’s secure messaging or app first.
💡 Bonus Tip: Boursobank Invitation
Using an invitation code when opening an account can earn €150–220 bonus! QR code for convenience 🥰:
💛 Final Thoughts
Start saving by cutting unnecessary bank fees! Online banks are perfect for newcomers, immigrants, or students in France: saving money while keeping banking simple and convenient 🙌.
À bientôt!