In France, citizens can no longer do without banking services. However, each establishment can offer different types of services to individuals and professionals at very different rates. This article is a guide to help you choose the bank that can best meet your needs.

Ranking of banks

In our country, banks can be grouped into three distinct forms:

  • The classic banks that most of us are familiar with: they are usually limited companies or limited liability companies…
  • Trust companies: their activities are similar to those of traditional banks. But the main difference is that the company can act as a “trustee”…
  • and credit unions or caisses populaires: they are known for deposit accounts, but the majority also offer products of various kinds

Products and services offered by banks

Almost all banks in all categories offer the following basic banking products and services:

  • Accounts: opening, maintaining and closing accounts. The account allows you to make deposits and withdrawals, make a transfer… The accounts are named according to their nature. For example, you may find a “savings account” or a “current account”. Personal and business accounts are subject to a service charge that can vary from one bank to another.
  • cashing and issuing cheques
  • the issuance of bank statements
  • direct debit
  • Credit card: to make a withdrawal, to pay for your purchases, subscriptions, etc…
  • Telephone and/or internet banking: this is a very interesting option, as it allows you to access your account every day of the week, 24 hours a day.
  • Automated teller machines, commonly known as ABMs. You will be able to make withdrawals and deposits, make transfers, access your account and pay bills.
  • and cash transactions

In addition to these basic services, each type of bank can add other formulas to its catalogue:

  • Organized payments: your bank may offer you a pre-authorized payment plan. Thus, the payment of bills will be made by the bank itself on the agreed date.
  • direct deposit: you can schedule direct deposits on recurring dates
  • overdraft facility
  • Checkbooks: Watch out! The bank is able to refuse the delivery of a checkbook
  • and the like

Good to know!

Online banking is more flexible. Plus, fees are lower compared to physical banking.