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