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French banks are going to hike their charges once again

From January 1st 2017 anyone with a bank account in France can expect to pay a fair bit more for the pleasure of using it.

French banks are going to hike their charges once again
Photo: AFP

A new survey has revealed most banks will seriously hike their service charges, just as they did in 2016.

The study, carried out by bank comparator “Meilleurebank”, revealed most banks in France will raise their charges for “maintenance” of accounts.

These charges are set to rise by an average of 13 percent on January 1st.

Other charges such as when using debit cards in the cash machines of other banks will also go up by an average of 4.5 percent.

And the charges just for having the debit card itself will also rise by around 3 percent.

The hikes are put down to the fact that low interest rates on loans and mortgages means French banks need to find an alternative way to boost their profit margins.

Americans and British who move to France are often shocked that French banks impose charges for “account maintenance” and for having a debit card, because they often don’t exist back home.

This is taken from an article written for The Local called: Five tips for opening a bank account in France.

“While many banks in the US and UK have free checking, that concept does not really exist in France, especially since you're required to interact so often with your personal banker and can't complete all of your transactions online. You may pay a small fee for 'tenue de compte', or keeping the account open, as well as a monthly fee for your debit card.

“The debit card fee will depend on the options you choose: the weekly and monthly limits for cash withdrawal and debit transactions, the amount of insurance protection on the card, overdraft protection, and your choice between 'débit immédiat' – when your account is debited immediately for purchases, and 'débit différé', when your card is debited at the end of your month. You can choose between the basic cards with low limits, or gold and platinum visas that often offer perks like travel insurance.”

 

 

 

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MONEY

How to avoid huge ‘roaming’ phone bills while visiting France

Ever wondered how to avoid paying exorbitant roaming fees when travelling in France? There are ways to keep your internet access while avoiding being hit by a big bill.

How to avoid huge 'roaming' phone bills while visiting France

Travelling without access to the internet is almost impossible these days. We use our phones for mapping applications, contacting the Airbnb, even scanning the QR code for the restaurant menu.

If you’re lucky enough to have a phone registered in an EU country than you don’t need to worry, thanks to the EU’s cap on charges for people travelling, but non-Europeans need to be careful with their phone use abroad.

First things first, if you are looking to avoid roaming charges, be sure to go into your settings and turn off “data roaming.” Do it right before your plane lands or your train arrives – you don’t want to risk the phone company in your home country starting the clock on ‘one day of roaming fees’ without knowing it.

But these days travelling without internet access can be difficult and annoying, especially as a growing number of tourist attractions require booking in advance online, while restaurants often display their menus on a QR code.

So here are some techniques to keep the bills low.

Check your phone company’s roaming plan

Before leaving home, check to see what your phone plan offers for pre-paid roaming deals.

For Brits, if you have a phone plan with “Three” for example, you can ask about their “Go Roam” plan for add-on allowance. You can choose to pay monthly or as you go. Vodafone offers eight day and 15 day passes that are available for £1 a day.

For Americans, T-Mobile offers you to add an “international pass” which will charge you $5 per day. Verizon and AT&T’s roaming plans will charge you $10 per day. For AT&T, you are automatically opted into this as soon as your phone tries to access data abroad.

These all allow you to retain your normal phone number and plan.

Beware that these prices are only available if you sign up in advance, otherwise you will likely be facing a much bigger bill for using mobile data in France. 

Buy a pre-paid SIM card

However, if you are travelling for a longer period of time it might work out cheaper to turn off your phone data and buy a pre-paid SIM card in France.

In order to get a pre-paid SIM card, you will need your passport or proof of identity (drivers’ licences do not count).

Keep in mind that you will not be able to use your normal phone number with the new SIM card in, but will be able to access your internet enabled messaging services, like WhatsApp, Facebook and iMessage. Your phone will need to be ‘unlocked’ (ask your carrier about whether yours is) in order to put a new SIM card in.

Here are some of the plans you can choose from:

Orange Holiday

This is one of France’s largest and most reputable telephone companies. The “Orange Holiday” SIM card exists specifically for tourists. At €39.99, you will get a SIM card that will enable you to make and receive calls and texts from a French phone number. You will have unlimited calls and texts within Europe, as well as two hours of calls and 1000 texts outside of Europe (for messaging people at home, for example). You will also have access to 30GB of data in Europe. 

The initial plan is valid for 14 days, and begins as soon as you begin calling, texting, or surfing the web. In order to get this SIM card, you can go into any Orange store and request it. Some supermarkets and airport kiosks might also carry this SIM card.

SFR

SFR is another well-known French phone company. Their pre-paid SIM card is called “La Carte,” and they offer several different options based on how much internet, calling, and texting you want access to. The basic plan is for 30 days and starts at €9.99 a month, which includes a €10 credit. Once the card is in your cellphone, you can add on a top-up option as needed.

You can buy this SIM card either online or in an SFR store. 

La Poste Mobile

This is the French phone company that operates in conjunction to the post office. What is especially convenient about this SIM card is that you should be able to get it at any post office in France. Plans range from €5 to €30 based on the number of days and the amount of calling, texting, and internet you are looking for. 

Bouygues Telecom

Finally, Bouygues Telecom also has some offers for prepaid SIM cards. Their plan, the “My European SIM” is especially made for tourists. It costs €39.90 and allows you unlimited calling and texting in France and Europe. The plan offers 20Gb of data. You can plan ahead for your trip by ordering this card online, but you can only activate it once you arrive in France.

The card actually comes along with a tourist guide (offered in 10 languages) and a map of Paris Metro.

Contract

Though buying a pre-paid SIM card is a very useful option for visitors spending a decent amount of time in France, it is important to be sure you are buying a pre-paid SIM, rather than accidentally signing up for a monthly plan.

Some mobile phone carriers offer very affordable monthly plans, which might look appealing to tourists. However, these plans will continue charging you after your vacation has ended, and many involve complex processes, including sending a registered cancellation letter (in French), in order to cancel the plan.

UK contracts

If you have a UK-registered mobile phone, check your plan carefully before travelling. Before Brexit, Brits benefited from the EU cap on roaming charges, but this no longer applies.

Some phone companies have announced the return of roaming charges, while others have not, or only apply roaming charges only on certain contracts.

In short, check before you set off and don’t assume that because you have never been charged extra before, you won’t be this time.

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