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 On Line

 

The French Banking system is rather strange and very bureaucratic. In, France, the interest rate is different if you buy a car or a house, even for the same amount and time.

And most banks are product oriented instead of service oriented.

 

Axa Banque belongs to Axa which is an International company  ( 50 million clients throughout the world managing more than 800 billion €uros of assets 25 % in France 19 % USA 16 % UK & Ireland ). See Axa’s web site . For that reason, you may find a more international culture within Axa Banque.

 

To make your day to day banking simple, you may want to open an account with Us. Call me at 06 30 84 40 49

Although it is an Online Bank, I act as an additional adviser here in the Bordeaux area. 

I can help you through the jungle of procedures and barbaric words, and explain all the services and guaranties linked with an Axa Bank account.

 

Services

1 = Hot Line  : there is a competent person available 24 hours a day over the phone, except on Sundays and Holydays. Some may speak English. If you travel a lot, you don’t have to bother about time zone.

 

2 = One of the cheapest banks in France for both small accounts and very active accounts. “ Label d’Excellence” 2005 source : Les dossiers de l’Epargne

 

3 = You can monitor almost every operation On line with no additional cost.

 

4=  Money transfers ( virement) from Axa are immediate and free.

 Money transfers ( virement) to Axa are also immediate and free. Cheques are  credited at reception. ( most banks keep the money a couple of days for both operations  “ date de valeur”).

If there is any further delay, it is due to the emitting bank.

International Swift  transfers take five days for legal reasons. ( money laundering control I guess )

 

5 = Attractive interest rate on your “sleeping cash”, a bank book is linked to your account with  3,25 % interests up to 15 000 €  and 2 % from 15 001up to 1 600 000 € ( Nov. 2005 ) before tax. Transfers are immediate both ways.

It is also possible to transfer automatically you money to secured  Bonds for free ( interest rate around 2 % ), but it takes about a week to get your money back if you need it.

 

6 = Cash withdrawal is free in all Euro zone countries

 

7 = With a Visa card, your are aloud 750 € overdraft. With a Premier 1500 €.

Cost of the credit card = 36 € a year if you want a “end of the month credit”, 30 € if not.

Premier costs 108 € and is debited at the end of the month.

You get cash back  ( 50 % if you spend 7000 € a year; 100 % if your spend 14 000 € a year ) Double for a premier card.

 

8 =Small overdrafts are free   ( 150 € for a fortnight or 300 € for a week ).

Services ( not free but compulsory )

 

9 = Account alert by email and/or SMS

 

10 = Account insurance =  if you die, the person you choose gets more or less 20 000 €.. “ Label d’Excellence” 2005 for this guaranty, cost = 2 € a month

 

11 = Insurance of internet commerce. Your are covered in case of fraud, or if you don’t get the goods you bought  or if you a different thing than what you have been buying. ( replacement up to 30 % dearer than your purchase on the net.

 

12 = Downloads your bank statement can be downloaded in excel format, or if you use Quicken, Money, or Goldsimple

. 3.5 € a month. A simple print out of your statement is free, of course.

 

13 = Key and papers insurance =If you loose your cheque books credit cards ( from any French bank ), your keys and passport drivers license, you are covered against misuse, payment stop is free, replacement is reimbursed and you get new Axa credit card and cheque book within 48 hours.

 

14 = bank book for your Kids. Up to 25 years of age, the get 4 % interests and can withdraw the money in any Euro zone country.  ( 6 free withdrawals a month). Free email alert with parent control.

 

15 = Access to the stock market with Internet access . The account “ Compte Titre”  was also awarded “ Label d’Excellence” in 2005.

 

What is an Assurance Vie and  a PEA ?

Assurance Vie

 

An assurance Vie or a PEA are “ fiscal envelopes” with different stocks or bonds ( Axa covers most Business sectors and Countries ) . You can also open an assurance vie for your kids.

The assurance Vie should be held for 8 years but your money stays  available except the last 1000 € ( a system called Avance ).

You can also get a cheque book  ( free) and credit card ( 15 € a year ) and use 50 % of the deposited amount.

These procedures are subject to interest rates.

Tax is lower than ordinary stocks or Bonds and there also fiscal advantages for the beneficiary should you die.

 

PEA

A PEA should be held for 5 years. Only specific €uropean Stocks are eligible to PEA. “Avances” can also be arranged.

 

More details by appointment 06 30 84 40 49 or email Lars.Eriksen@Free.fr