French Savings Account with Card

Drp8713

Although a long way from retirement, we think we may end up in France.

Although overseas current accounts appear hard to get without being a resident, does anybody have experience of a French savings account?

First use for long term saving, second use a cash card for holiday spending.

I was googling and found the below which seems like a French ISA, with card, and you don't need to live there. Has anybody got one? If so how hard was it to open? We are off to Paris again in July.

9.2.2. Livret Bleu

This is a savings account only available through the Caisses de Cr!dit Mutuel.

You can only have one Livret Bleu account per person and it cannot also be held in tandem with a Livret A account.

There is no residence qualification for this savings account.

The current rate of interest is 1.25% calculated every 15 days.

All interest earned is exempt from income tax and social charges in France.

The maximum amount that can be deposited in the account is €22,950 per person, plus accrued interest.

The account is open to children as well as adults, so a family of four can hold four accounts.

No cheque book or bank card is issued with the account, although a cash withdrawal card is provided, which can be used in the cash dispensers of your chosen bank.

You can pay standing orders and direct debits from the account.

jonesMUFCforever

The main problem you will have is address confirmation - banks don't like to open accounts for non residents.
Use Google again for French banks with London offices - they might be more helpful in advising you of the best way forward.

agrinnall

If that account really is the French equivalent of an ISA and it has similar rules to a UK ISA then you wouldn't be able to open it anyway as you'd have to be registered to pay tax in France. Despite it having no residence qualifications I doubt if the French government would be prepared to forego tax from people who don't otherwise pay into the system.