Account on a bank account or savings account

The savings account (also called booklet account) is an account that is used to keep the money you save for savings.

It is therefore different from the current account or check account, which is used to manage your everyday operations: receipt of salary, payment of invoices, payment of purchases in stores etc.

We are talking about bank savings accounts or bank account accounts, because it is the banks that market them that freely set their operating conditions.

The bank savings accounts have characteristics that may vary from bank to bank, unlike regulated savings accounts (booklet A, young booklet, LDDS, SMP) whose characteristics are determined by the public authorities.

Anyone can open a bank savings account. There is no condition of age or nationality or residence.

To open a savings account, you must sign a contract with a bank, savings bank or financial institution. Online banks also offer savings accounts or booklets.

The contract must include the following points:

• Deposit and withdrawal rules (minimum deposit amount, date value of deposits and withdrawals)
• Remuneration of savings (interest rate depending on duration, criteria for calculating and paying interest, etc.).

Yes, you can open multiple bank savings accounts at multiple different banks.

You can make payments at the ATM or at the ATM if the bank has given you a bank card for the savings account.

The minimum amount of each installment must be €10.

You can also make transfers from your current account.

You can make withdrawals at the ATM or at the ATM if the bank has given you a withdrawal card for the savings account.

The minimum amount of each withdrawal must be €10.

You can also make transfers from the savings account to your current account.

Unlike regulated savings accounts, the law does not provide for a deposit ceiling or a maximum amount not to be exceeded for bank savings accounts.

But the bank can put a cap on the contract.

The money placed on the savings account produces interest. They are calculated according to the duration during which the sums remained in the account and rate provided at the time of subscription.

The interest rate on the bank savings account is set freely by the bank. It may vary depending on the commercial offers.

Each bank informs you of the interest rate of its booklet via advertising or at the time of subscription.

The interest rate proposed at the opening of the account can be modified later by the bank.

Banks sometimes offer a high interest rate on a booklet called a “super booklet”, but only over a short period.

To be able to generate interest, the sums deposited must remain in the account for at least a full fifteen years.

Indeed, interest is calculated fortnightly, as for the livret A.

Interest for the first half of the month is calculated on the 16th of the month, and interest for the second half of the month is calculated on the 1st^er of the following month.

The date of the value taken into account for the calculation of interest varies according to the date of the transaction (deposit or withdrawal):

At December 31 of each year, the accumulated interest for the year is added to the principal.

The bank savings account does not benefit from the tax advantages reserved for regulated savings accounts (Livret A, Livret jeune, Livret d'épargne populaire, etc.).

If you receive interest on your bank savings account, they will be subject to income tax (in the category of income from movable capital) and to social levies.

A seizure can be made on your bank savings account by the administration or by a creditor who has obtained a court decision acknowledging your debt to him.

No, it is not possible to transfer the booklet account you have opened in one bank to another bank.

But you can close the account on a booklet, then recover your savings and deposit it on a new account on a booklet opened in another bank.

To close your bank savings account, you must make the request to your bank respecting the conditions indicated in the contract you signed at the opening.

The fence is free of charge.

The bank must return the savings accumulated on the account without charging a fee.