Selecting a language will automatically trigger the translation of the page content.

Bank transfer

Verified 04 juin 2020 - Directorate for Legal and Administrative Information (Prime Minister)

The bank transfer allows to transfer sums directly from account to account, without passing through a means of payment (bank card, check, etc.). This bank transaction must be authorized, recorded and notified. If it is not, it can be challenged and canceled. There are 2 types of transfers: punctual and permanent.

You can instruct your bank to transfer money from your account to another account.

You can transfer to other people's accounts or to your own accounts (including your savings accounts: booklets, life insurance, etc.).

It can be made in an account held abroad and in a currency other than the euro.

The order to make a transfer can be given at the counter, by mail or by internet, depending on your account agreement..

According to the banks, a period of validation of a new beneficiary is necessary before the implementation of a transfer by Internet.

There are 2 types of transfers:

  • A transfer is said punctual if the order is issued for a single transaction.
  • A transfer is said permanent (or automatic) if the order is given written or over the Internet and is repeated regularly. The order is established for a fixed or indefinite period. You can cancel it at any time by mail or directly on the internet depending on the online services offered by your bank.

The amount of a bank transfer can be capped. This maximum amount is set by your account agreement.

There may be charges for the operation. Rates are set by the account agreement.

  Please note : the transfer is the ordinary means of payment of wages..

You must specify the following information:

  • Account number to debit
  • Transaction Amount
  • Execution date
  • Bank account details (BIC, IBAN) to be credited

This information is on your Rib..

  Please note : your creditor cannot require you to make the transfer to a bank account domiciled in France.

In some countries, bank details appear on account statements.

The bank cannot make a transfer without your consent.

Bank registration: operation date

The deal date is the date on which a debit or credit transaction is recorded by your bank.

If the transfer order is placed at an hour near the end of the working day, it will be considered received on the next business day.

If the moment of receipt is not a working day (e.g. in the case of an order made via the Internet), the transfer order shall be deemed to have been received on the next working day.

Starting point for interest calculation: value date

The value date is used for interest calculations. It is used in particular if you transfer money to a savings account or to calculate the duration of a discovered..

Example :

interest on savings accounts is calculated according to the 15-year rule.

If you make a transfer to your booklet A between the 1st and the 15th of the month, the interest due will be calculated from the 16th. If the transfer is made between the 16th and the 31st of the month, the interest due will be calculated from the 1st of the following month.

The execution of each payment transaction shall be notified to the holders of the 2 accounts concerned (account credited and account debited).

You can agree with your bank on the means and frequency of notifications (e.g. emails, statements of accounts, etc.).

Time

To contest a transfer, you must a letter to your bank..

If the amount of a transfer exceeds the expected amount, you must report it to your bank within 8 weeks.

For unauthorized or improperly executed transactions, the period is 13 months after the debit date.

This period shall be reduced to 70 days where the institution of the payee is outside the European Union or European Economic Area (EEA).. This period may be extended by contract, but may not exceed 120 days.

  Warning : these deadlines do not apply if the bank has not provided you or has not made available to you the information relating to this payment transaction (statement of account).

Follow-up to the protest

If your challenge is not successful, you can appeal to the bank mediator..

If the mediator's intervention has not resolved the dispute, you can enter the civil courts for 5 years from the date of execution of the operation.