French bank made me wish I had put savings under the mattress

To the Editor,

I was interested to read John Cowan's letter on bank charges. 

Like him, I was shocked by the cost of banking in France. 

The charges on my Crédit Agricole current account (quarterly account fee and for the debit card) significantly exceeded the interest on a significant sum in my livret A savings account.

Effectively I was paying the bank to look after several thousand euros for me but I would have been better off putting the money under my mattress.

Earlier this year my (French) brother-in-law told me about Fortuneo, an online bank.

They offered a free current account, with a free gold debit card which has much higher weekly limits for both cash and purchases.

My CA bank card had been refused for a set of new tyres for my car because the cost exceeded the weekly limit.

Along with this was a ‘livret +’ savings account with a bonus introductory interest rate.

The online service is really easy, and cash withdrawals are free at my local CA cash machine. Switching was really simple too.

Eight months after opening, I have had no bank charges, but a healthy amount of credit interest. That is how banking should work.

J.H., by email 

Do you find banking to be too expensive in France? Share your experiences at letters@connexionfrance.com