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Revolut granted full French banking licence, can now offer expanded services
It is latest full licence granted to neobank following UK and Australia success
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Lack of mobile phone makes banking in France too difficult
Reader queries why banks send SMS codes instead of using other alternatives
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New interest rates for millions of French savings accounts
Livret A interest rates rise but low-income equivalent remains frozen
France on alert by contactless cards theft
A Flaw in the contactless payment system means criminals can continue to use cards even if they have been reported stolen, warns consumer watchdog 60 Millions de Consommateurs.
The system that makes the payments quick means cards can be abused even after a block, as they do not need the bank’s electronic approval.
Legally, the bank should reimburse the amounts – if you notice them and alert them.
There is also another safeguard: banks must put in place a limit to the number of combined
contactless payments either per day, week or month, as well as a fixed maximum of contactless payments before the code has to be used again.
