Some banks refuse to open People’s Savings Accounts for users who do not have a current account with them. They justify themselves by explaining that it is an obligation. This is however false.
Question from SV, August 2, 2022
Hello, I can benefit from an LEP but my online bank, Boursorama, does not offer it. I would like to stay with this free bank. The Banque Postale and the Crdit Agricole refused me the opening of a LEP without a current account. Which bank would give it to me? How could I convince them to accept the opening of a People’s Savings Account without opening a current account? Thanks.
Cordially,
S.V.
SV, you can start by recontacting the two brands that took you there and giving them a brief reminder of the regulations. Because, as the Banque de France explains in its website: (…) No provision obliges a customer to open a deposit account in the same bank in addition to a LEP. If transfers between accounts are more strictly regulated than before, for reasons of the fight against money laundering, nothing prohibits either to fund a savings account from a current account held in another bank, from the moment you hold both accounts. Only limitation: you will not be able to set up permanent transfers.
Find the lowest rate for your real estate project!
That being said, exposing the bad faith of these two banks will probably not solve your problem. In effect, nothing obliges them to justify their refusal to open a LEP for you. And yes, the banker is a share trader, who can refuse a sale without having to justify himself.
My banker, a merchant like no other
By contacting other brands, you unfortunately risk being confronted with the same response. Why? Because banks, traditionally, are reluctant to open LEPs, a savings product that remunerates well above market standards and which therefore makes them expensive in terms of interest. A product that is also more complicated, and therefore more time-consuming, to manage than a Livret A, for example, since it requires checking your eligibility when you open it and then every year, based on your reference tax income.
LEP 4.60%: you may be eligible for this great booklet, here’s how to find the info
To benefit from an LEP, you may well have to comply with their request and open a current account. A reminder: this does not force you to close your account with Boursorama, nor change the direct debit of your income. even try toget a technical account, only intended to feed your LEP, without checkbook or bank card. Some establishments agree to provide this type of account, free of charge or at little cost.