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VIEW THE DEFINITIONS OF TECHNICAL TERMS.

 

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Bank :

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).

 

Source: Banque de France

Bank branch :

Entity directly related to a company or group of companies. Unlike a subsidiary, a branch does not have a legal personality (for example, a banking facility can be a branch).   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

Bank Secrecy :

Bank secrecy, a form of professional secrecy, is a legal obligation, for the bank and its employees, to not 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.

 

Source: Banque de France

Bank subsidiary :

Institution whose capital is more than 50% owned by another company (the parent company) which is legally separate from it but on which it is economically and financially dependent.

 

Source: FBF

Bank transfer :

Operation whereby funds are transferred from one account to another.

Written order given by a customer to his bank or payment institution to debit his account in a specified amount in order to credit that of his creditor.

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 codes and IBAN).

 

Source: Banque de France

Banque de France :

In addition to the tasks of implementing the monetary and financial policy and banking supervision, the Banque de France provides specific public services to individuals:

 

- it manages the payment incident registers: Register of Household Credit Repayment Incidents (FICP), Central Cheque Register (FCC) and National Register of Irregular Cheques (FNCI) and handles requests to exercise the right to an account;

 

- it keeps individuals informed of regulations and banking practices through its information service for individuals (Tel.: 0 811 901 801).

 

Source: Banque de France

Business account :

As opposed to a personal account.

Bank account that allows the holder to manage his day-to-day business activity.

 

Source: Banque de France