Open an online current account

This guarantee ensures all French residents to be able to access basic banking services:

5 things to know about the current account

Called current account or check account, the bank account that is used on a daily basis allows you to store and use your money more easily and safe. But what do we really know about the bank account ?

According to the Banque de France, 69 % of French people consider their financial or low financial knowledge. It’s better than in 2018 (77 %), but there is still a good margin of progression. In order to better understand the subtleties of the current account, Lydia answers your most frequent questions on the subject.

• What maximum amount can we have on a current account ?
• Can we have several current accounts in the same bank ?
• What are the costs of a current account ?
• Should we declare a bank account opened abroad ?
• How to close a bank account (quickly, and at no cost) ?
• The current account according to Lydia

What maximum amount can we have on a current account ?

This is one of the questions that comes up most often: ” Is there a deposit limit on a current account ? »». Well no, there is none. You can send as much money as you wish to your check account even if your banker can however question the origin of the funds. But if you gain Euromillions, for example, the entire sum can be paid to your IBAN by the French Games.

Thus, nearly 1,300 billion euros were stored on accounts in France, on December 31, 2021, almost as much as the sums placed on all savings booklets (LDD, booklet A, popular savings, etc.) and investment media (PEA, PER or even housing savings plan).

Please note, funds in a check account are not 100 % guaranteed. The deposit guarantee created in 1999 protects the customers of the banks, by guaranteeing them compensation in the event of bankruptcy of the banking establishment. Only, this warranty is capped at € 100,000 per person (therefore € 200,000 on a joint account) and € 500,000 in the event of “temporary exceptional deposit”, in the case of a succession or following the sale of a Good real estate for example.

Can we have several current accounts in the same bank ?

Yes, it is completely possible. In fact, many entrepreneurs have several current accounts: one for personal expenses, a common account with his spouse, and a third (or more) for their business.

It’s very simple: you have the right to open as many accounts as you want. In any case, this is what the law says, and the Banque de France can even help you in the event of refusal. The principle of law to the account gives the right to anyone to seize the Banque de France which is responsible for appointing a banking establishment.

This guarantee ensures all French residents to be able to access basic banking services:

have a rib;

And this right also concerns prohibited banking persons, registered in the credit incident file, or in over -indebtedness.

What are the costs of a current account ?

These are the account holding costs that are collected by the establishment for the service and the means of payment offered and the conservation of the funds.

As of January 5, 2021, the average rate of active accounts costs was € 21.06 per year. They are negotiable and can be reduced under certain conditions. For example, when you take with your bank for a real estate project. Note that on average, online banks are cheaper, or even free under certain conditions.

To avoid unpleasant surprises, remember to read the conditions well in the contracts signed with your bank.

Should we declare a bank account opened abroad ?

The answer is yes. And the forgetting of declaration of an account opened outside France is liable to a fine of € 1,500 per unorganized account.

Current accounts and savings accounts are concerned, as are the deposit accounts related to investment services. How to declare your account open ? To find out all, see the detailed and illustrated guide of Climb to declare your account abroad (printed 3916).

How to close a bank account (quickly, and at no cost) ?

To close a bank account (in general, to open another in another bank), there are two solutions:

Make the express request yourself to your banking establishment: since January 1, 2005, this approach is free and relatively simple, even if the procedure can vary slightly depending on your bank. To formalize the thing and keep a written trace, we advise you to send a request by registered letter with acknowledgment of receipt.

In both cases, you are advised to leave the money necessary for all invoices, payments and direct debits to be honored normally. This step is essential not to find yourself in the open, time to make sure that all samples are transferred to your new account.

Finally, be aware that your banker can decide himself to close your account. Indeed, your bank can close an account while respecting a notice period of 2 months, without motivating its decision. Nevertheless, this procedure is rare, and most often applies to inactive accounts for more than 10 years.

The current account according to Lydia

A French IBAN to manage all your money and samples, a visa card to pay and withdraw all over the world … The Lydia account is a real current account and a simple and fun mobile application. And it is completely free, without conditions and initial deposit.

To take advantage of it, just download the application for free and create your account in a few moments.

You will like also

Understand the bank

How to open a bank account quickly ?

To deposit your salary, have means of payments and, in general, facilitate your money movements: opening a bank account is essential. Ideally, as quickly as possible. And if the period of opening an account essentially depends on the type of bank that we choose (a traditional bank, an online bank or a neobanque), it […]

Can we open a second bank account ?

Because it is compulsory when you set up a company (and much more practical when you start as a self-employed person) or to simplify your life (open a joint account, benefit from more services, a second bank card, etc.), there is no shortage of reasons to open a second bank account. But can we have several accounts […]

Understand the bank

Opening online bank account without proof, is it possible ?

An identity document is the compulsory document to be able to access the most widespread banking products: the current account. But in addition to this essential proof, other documents may be requested depending on whether you open your current account in a traditional bank or in an online bank. Finally, prerequisites must be […]

A question ?

Accounts

• Common account
• Current account
• Savings account
• Investment account
• Express loan
• Create an online kitty

Cards

• Payment card
• Virtual payment card
• Mobile payment
• Free lydia card
• Lydia Green card+
• Lydia Black card+

Save

• Lydia scratch ticket
• Cashback on payments
• Association donations
• More features
• Budget calculator

Fundamental

• Security
• Personal data
• Banking security and online fraud
• Prices & limits
• Terms of use
• User Manual
• Legal Notice
• Cookie preferences
• Banking lexicon

About

last articles

• Common account or joint account, which to choose ?
• Open an online joint account for free
• Get a free virtual bank card
• Open a bank account quickly
• Open a free online bank account

Open an online current account

An account with an IBAN, a payment card and a mobile application to easily use and manage all your money, without needing to change bank.

Open a current account

A current account to do everything

A visa card, contactless mobile payments beyond € 50 and virtual cards for even more secure internet purchases.

The Lydia card account also has a French IBAN to manage all its samples and receive its salary.

Transfer and update of the instantaneous balance

Sending money to a loved one has never been easier: the phone number or email address are enough.

Account transfers are also free and instantaneous.

To avoid unpleasant surprises, instant notifications are sent to each money movement on the account.

Pay abroad without superfluous expenses

Use your Lydia card worldwide: no commission is taken from foreign currencies when you pay or remove money.

In accordance with the law, fraudulent expenses carried out with a Lydia card which has been blocked or put in opposition by the user are fully reimbursed.

And in the event of theft, the replacement of the card is free.

An account that speaks with your bank

No need to change the bank: just connect your account or more bank accounts to your Lydia app.

We can thus manage everything with a single mobile app.

Consult the sales and historicals of all the accounts related to Lydia is thus in real time and in the blink of an eye.

An account that can make you money

By unlocking the Lydia+ or opting features for Lydia Black+, you benefit from a unique loyalty program.

With the scratch ticket, you have a chance to see your purchase refunded up to € 100 for each payment.

With automatic discounts, you benefit from cashback on all its purchases made from a selection of brands, online as in store.

A completely secure current account

Lydia is a French app, designed and controlled in Paris on the basis of the highest banking and computer security standards.

The confidentiality of personal data is ensured in the standards imposed by the GDPR.

Funds are protected, as required by regulation, on a so -called “cantonment” account opened with BNP Paribas.

These funds benefit from the deposit guarantee up to € 100,000 per customer provided by the deposit and resolutions guarantee fund.

Learn more about the current account

Free bank account: how to benefit from it ?

You want to open a bank account for free ? Lydia gives you essential info to open a free account easily.

Why shouldn’t leave too much money on your current account ?

Inflation, security, management of its budget … Lydia explains to you why you should not leave too much money on its current account

You have questions about the Lydia account ?

Is it possible to emit checks with the Lydia current account ?

With Lydia, checks show is not possible. In the same way, it is impossible to have a debtor balance, Lydia not allowing the discoveries. So it’s easier to better manage your money and avoid unpleasant surprises.

Do you have to change bank to open a current account at Lydia ?

No, it is not necessary to change bank or close your bank account beforehand to open an account at Lydia, quite the contrary ! You may hold a check account in a bank, keep all services, means of payment and products of your banking establishment (checkbook, joint account, bank card, booklet a or other savings account, etc.) if you wish and take advantage of all Lydia services in addition. You just need to link your bank account to your Lydia account. To do this, just carry out the following steps:

1. Go to the screen ” Accounts »;

2. Click on the sign ” + “At the top right of the screen then on” Bind my bank »»

3. Select your bank from the list;

4. Connect your account by entering its usual banking identifiers, as if to connect to its banking application or your personal space on the site of its bank.

The Lydia account holder can thus manage all the associated accounts of which he is the holder with a single app.

How a current account works ?

A current account is a deposit account (on which money is placed, therefore) which is used to receive your money back and carry out payments and withdrawals via the means of payment made available. These means of payments can be a payment card, sometimes a checkbook but also transfers or even contactless payment (with the card or your smartphone).

What is the difference between a current account and a bank account ?

We are, out of ease, the habit of sometimes using “bank account” to designate a current account. However, it is not quite the same thing: a current account can be a bank account if it is open in a bank and a bank account can be something other than a current account. A booklet A, for example, is a bank account made to put money aside but it is not a current account which, it is used for daily expenses.

What are the current accounts ?

There are two types of current account: the individual current current account held by a single person and the joint account which can have several cotturies, with or without kinship. In both cases, this account is made to deposit money to use it to manage everyday expenses.

What is the amount of amount on a current account ?

There are not any. Unlike the savings accounts and booklets, there is no maximum amount limit on a current account and you can deposit as much money as you wish. However, it is not very interesting to leave huge sums of money on your current account for several reasons:

• This is not an account provided for this: a current account is primarily used to manage all everyday expenses;
• The money from all the bank accounts of a user is only guaranteed up to € 100,000 in the event of bankruptcy of the bank. If we leave more, it is therefore not guaranteed.
• It is not interesting financially speaking: the money is not remunerated as on a booklet or a savings account and does not fruit. Worse, with inflation, allowing too much money to sleep on your current account is equivalent to losing some money each year.

Who can have a current account ?

Any natural person living in France can open a bank account. In the event of refusal to open an account by a banking establishment (for a banking prohibition situation for example), it is possible to assert the right to the Banque de France the right to the account. The latter will then designate a banking establishment which will be able to provide an account and the associated banking services.

When to open a current account ?

From the age of 16, a minor can, in most banks and with parental authorization, open a bank account. He will thus be able to benefit from a bank card and possibly a checkbook associated with the account.

How to close a current account ?

To close a current account in a bank, it must be made in writing in writing from the bank. It will also be necessary to join a copy of the identity document, a RIB in order to transfer the remaining funds to the new account and proceed to the return of the means of payment (payment card and checkbook).

At Lydia, closing a current account is much simpler and faster: just fire the funds on another account of your choice and close the account in two minutes, directly in the app.