How do I change bank?

Would you like to switch to an online bank? Opening a current account is a very simple process, especially if you take advantage of our banking mobility services. In just 22 days, you can take advantage of new services or savings products, at no extra cost. As for which bank to choose, here's what you need to know!

Change bank with the bank mobility service

The bank mobility service, otherwise known as bank portability, makes it easier for you to change banks. Put into service since the Macron law of 2017, it offers customers the chance to offload certain time-consuming administrative formalities. In concrete terms, by opting for best online bank of your choiceyour new bank will take care of everything! Closing your old bank account, transferring the funds to your new account, notifying the organizations to which you are linked of the change in bank details... All you have to do is sign a mandate and your online bank will take care of everything!

Knowing that banking mobility service only concerns deposit or payment accounts held by private individuals. This may be a current account, a joint account or an individual account. Professionals are not covered by this service. This also means that all other savings accounts or financial products are completely excluded from the bank portability service. If you intend to use an online bank for all these products, you will need to close each of them personally.

Changing bank alone: the steps

If you don't want to take advantage of the banking mobility service, you'll have to change banks on your own. There are a number of important stages to this process, which must be followed if you are to avoid making a mistake.

Online banking comparison

The first step to changing bank on your own is to compare all the online banks and offers on the market. It's a choice that essentially depends on your needs to find the right product. Cheque deposit, cash deposit, free bank card, savings offer with no upfront fees... You can use online reviews to narrow down your choice.

Opening a new bank account

Once you've chosen the bank that's right for you, you'll need to open a new current account. This is often free of charge, especially for online banks. Once the account opening has been validated, you'll need to deposit money and obtain your new RIB to facilitate your transactions.

Transfer all your transfers and direct debits

Once your new bank account has been validated, it's time to transfer all direct debits and automatic transfers from the old account to the new one. This is an operation that requires excellent coordination to avoid missed payments or payment incidents. To do this, you need to notify all the organizations likely to make regular direct debits or transfers to your account, providing them with the new RIB. Energy supplier, Internet service provider, insurance company, social security... You need to list all debtor and creditor organizations.

Closing your old bank account

Once you've taken care of your transfers and direct debits, all that's left to do is close the old bank account by sending a registered letter with acknowledgement of receipt to your former bank.

How long does it take to change online banks?

If you want to switch to an online bank, the official deadline is 22 days, thanks to bank mobility. This means that you'll need around 1 month to inform your old bank of your termination and request the necessary information. Your new online bank must then forward your bank details to all organizations that make transfers or direct debits from your account.

Which one to choose?

When choosing your online bank, it all depends on your specific needs and requirements. Free day-to-day operations, ease of account management, quality of customer support... In short, here are the 5 most recognized online banks in the sector. And not the banks in GTA 5.

BforBank

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BforBank is best known for its savings products. However, it also offers a full range of products and services such as consumer credit, mortgages and bank accounts. Renowned for the quality of its customer service, BforBank is accessible from €1,200 monthly income and offers a free Visa Premier card.

BoursoBank

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BoursoBank is one of the pioneers in the world of online banking. Initially focused on online stock trading, it is now developing a whole range of services around loans, savings accounts, car insurance and life insurance. With 2.3 million customers in 2020, it offers a highly competitive range of services, with up to €100 free when you open a current account.

Fortuneo

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Fortuneo offers a full range of products, including life insurance, securities accounts, savings products and mortgages. It's one of the only online banks to offer a free top-of-the-range MasterCard bank card. What's more, most of its services are available free of charge, and you'll be entitled to promotional offers when you open a current account, with a €80 bonus on offer.

Hello Bank

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Hello Bank is part of the BNP Paribas network. With this online bank, you benefit from a comprehensive banking service and a free bank card. You can also deposit checks directly at the branch.

Monabanq

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Monabanq is an online bank with no income requirements. A subsidiary of the Crédit Mutuel group, it offers you a number of advantages, including free, unlimited withdrawals throughout the Euro zone. You can also deposit checks and cash in your branch.

Vivid Money

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Finally, in the world of online banking, Vivid Money is a neo-bank that's winning over more and more users with its cashback system. Halfway between a bank and an investment, you don't have to pay anything to open a current account, with €0 account management fees and a free bank card.

If you like the topic of banking, you may also like Mobile Game: Monopoly Goin our comprehensive guide.

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