Banks in France are funny. You can open a bank account and put absolutely no money in it. They will charge you 35 Euros total for your bank account deposit and your debit card and will simply leave it as a negative on your account until you put money into it. When you are overdrawn, there are no consequences. In fact, if you need money from the ATM, simply insert debit card and withdraw money. Sure it may be money you don't have but your French bank account does not care. It only cares that it has fulfilled your request. All the while, you can go however long you want with that one straight line in front of your balance as the only sign you are in the negative. How has the French banking system not collapsed? How can I be overdrawn for almost a month and have received absolutely no notice whatsoever and no overdraft charges?
Interesting system they have here...my American bank account is to the rescue though as I look sadly on at its rapid decline. My own misfortune and consequence is I did not bother to convert more American dollars to Euros when the going was good. Too bad I am not a European living in the U.S.... I could be rich.
So France may not alert you the first or even the 2nd time you are overdrawn but they will FINALLY send you a notice requesting you rectify your account (3rd time over drawn with 4 transactions allowed to go through after being overdrawn) or you will be charged a fee the next time a transactions occurs.
ReplyDeleteFYI: I am never one to be overdrawn. I pay all of my bills on time and in full but I only keep enough funds in my France bank acct to pay 2 bills and they always fail to send me a bank statement so I can keep on top of how much money is actually in the account.