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Category of credit institution authorised by law to carry out all banking transactions. Banking transactions include the receipt of funds from the public, credit operations and bank payment services (including the issuance of cheque books).
Bank account identification document (RIB)
Document used in France to identify the details of a customer’s account. The RIB includes the name of the account holder(s), bank name, bank code, branch code, account number and check digits. The RIB is generally found on the bank account statement and/or in the cheque book. It also includes IBAN and BIC codes. Customers may send the RIB to all their debtors or creditors to allow transactions (bank transfers, direct debits, interbank payment orders, etc.) to be carried out on their account. BIC and IBAN codes are used to identify a bank account and are required for automated processing of bank transfers and direct debits in France and abroad.
Source: Les clés de la banque
Bank account statement
Provided in paper format or on a durable medium (i.e. in electronic format), an account statement is a document that summarises the transactions carried out on a customer's account during a given period, generally monthly.
Entity directly related to a company or group of companies. Unlike a subsidiary, a branch does not have a legal personality. However, a branch has a certain degree of management and administrative independence from its parent company. For example, a banking facility can be a branch.
Source : FGDR
Debit interest collected by the bank, generally for an account overdraft, calculated based on the amount, duration and interest rate of the overdraft, plus fees and commissions.
Source : FBF
The bank code is also called the bank identification code (CIB). It consists of five digits and is indicated on every bank account identification document (RIB). This code is unique to each credit institution licensed by the ACPR .
Bank secrecy, a form of professional secrecy, is a legal obligation, for the bank and its employees, not to disclose any information regarding its customers to a third party. Secrecy may be waived under very strict conditions at the request of certain administrative or judicial authorities.
Operation whereby funds are transferred from one account to another. Written order given by customers to their bank or payment institution to debit a specified amount from their account in order to credit the creditor’s account.
A bank transfer can be occasional or ongoing.
It may be executed immediately or on a scheduled date and requires the account information of the creditor receiving the transfer (bank details, BIC and IBAN codes).
Appointed by each bank, the ombudsman is an independent, impartial person who is bound by confidentiality and responsible for recommending an amicable solution to disputes that arise between individuals and their bank. After taking all other actions (appeals) with the branch and the institution’s customer service department, individuals may contact their institution's ombudsman, free of charge, for matters relating to the operation of their account, credit transactions or savings transactions.
Source : Les clés de la banque
Banque de France
In addition to the tasks of implementing the monetary and financial policy and banking supervision, the
As regards the FGDR, the beneficiary of a bank account is a person who has a right to the account as a result of their legal, tax or financial situation or a family relationship with the account holder. Such accounts include those opened by a professional in order to deposit funds belonging to other individuals who are the beneficiaries, for example, an account opened by a property management company for the management of co-owned buildings or a lawyer's CARPA account.
Beneficiary of compensation
Person to whom the compensation is sent (in the case of deceased individuals, insolvency proceedings or any other situation where the compensation is sent to a person who is not the account holder).
Business bank account
Bank account that allows holders to manage their day-to-day business activity. It is used to separate business transactions from personal transactions to avoid any tax or accounting confusion. Not all companies are required to open a business bank account. However, companies with share capital (one-person limited liability companies (EURL), limited companies (SA), simplified joint-stock companies (SAS), limited liability companies (SARL), etc.) must open a business bank account at the time of their creation.
Note: for professionals who have not created an EURL or EIRL, their compensation is calculated by adding up all their personal and business accounts up to the limit of €100,000.
Sources: Ministry of the Economy and FGDR