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What is a bank account agreement?

Verified 06 mars 2020 - Directorate for Legal and Administrative Information (Prime Minister)

When opening a current account, the bank gives you an account agreement that you must sign. This document contains all the contractual commitments between the bank and yourself, from opening to closing your account. The agreement may be amended or terminated.

The account agreement is a document written in paper or digital format (for example: mail).

You must sign the account agreement (paper signature or electronic signature).

Account Terms

The account agreement shall contain the following information:

  • Duration of the agreement
  • Services offered and their rates
  • Useful means of communication between the bank and you
  • Conditions power
  • Becoming a Death Account
  • Possibilities for amendment and termination of the agreement
  • Tracks mediation and appeal in the event of a challenge.

Means of payment

The Convention must also provide detailed information on means of payment associated with the account, including:

  • Making available or not checks
  • Security and protection obligations relating to the use of means of payment
  • Procedures in case of improperly executed operations
  • Case procedures payment incidents
  • Possibilities for limiting the amount of expenditure offered for each means of payment
  • Charges, interest and exchange rates apply.

Overdraft Management

The Convention shall specify the consequences of an overdraft, specifying the following information:

  • Provisions relating to a possible discovered (terms of use, tariff conditions)
  • Consequences of an unauthorized overdraft and the conditions under which you are informed, as well as the applicable tariff
  • Possibilities for blocking or returning means of payment
  • Possibilities of taking out by the bank of sums entered in other accounts in your name and managed by it to cover the overdraft.

The bank may change the account agreement. To do so, it must at least warn you 2 months before the effective date of the changes.

If you do not challenge the new account agreement within this time limit, your silence is deemed to be acceptance.

In case of a challenge to the new account agreement, you have 2 possibilities:

The bank may terminate the agreement on 2 months notice.

You can also terminate the account agreement at any time. However, if the agreement so provides, you may be required to give up to 30 days' notice.

If the agreement has been signed for more than 6 months, the termination is free of charge.

If the agreement has been signed for less than 6 months, a cancelation fee may be charged. Payment service charges paid in advance (for example: credit card fees) will be refunded in proportion.

  Warning : the termination of the account agreement shall result in closing account ..