Bank account definition
A bank account is opened with a bank by one of its users following the signing of a contract which describes the terms and conditions. It can store money that can be used at any time by means of a bank card or a checkbook to make purchases. A bank account can also be used to save money for future use. The latter is then subject to an interest rate that allows to grow the capital deposited on the account.
Individual bank account
A bank account is said to be individual when it is opened in the name of a single person, and that person is also the only one to be able to perform withdrawal or deposit operations from that account. The title of the individual bank account accredits this idea since it is composed of the first name and the name of the person, preceded by sir, madam or miss, who signed the account agreement with the bank.
Undivided bank account
A bank account is said to be undivided when it is the property of several persons, and each of them must agree to carry out a deposit or withdrawal of money transaction in connection with this account. Again, the title of the undivided bank account is explicit since it is composed of the surname and first name of each of the holders, bound by the preposition and. The account creation agreement, like the bank account closure letter, if applicable, must be signed by all the holders.
Open a bank account
To open a bank account, the first thing to do is to go to a bank. The latter will then ask for three proofs: an identity document, an invoice attesting to his home, and a specimen signature. With these three elements, plus an account agreement signed between the applicant and the institution that will host the bank account, the bank can decide and accept or not to open the account. To open an undivided bank account, all holders must be present and sign the agreement.
Open an online bank account
Opening an online bank account requires following substantially the same procedure as for a classic opening. The only difference is that, instead of moving to a banking institution, the steps are dematerialized. Thus, the customer who wishes to open an account in an online bank has most often a form to fill with his contact information, and supporting documents to file on the website.
Open a bank account in a tobacconist
Since 2014, it is even possible to open a bank account at a tobacconist . The device is called Nickel Account, and offers a very simple procedure to open a bank account. Indeed, all you have to do is buy a Nickel Account box at 20 euros for sale at a Nickel Account tobacco shop. The latter contains the payment card which must then be registered on the terminal installed in the tobacconist’s office . Following this registration and validation of the file by the tobacconist , it gives the client a RIB . The customer then receives on his mobile his secret code, and can make purchases with his card.
Deposits and withdrawals to a bank account
Once a bank account has been opened, in a conventional bank, online or even in a tobacco , it is possible to perform many operations on it. The deposit is to add money to the bank account: it can be done by bringing cash at the counter, or the ATM of the bank, or by making a transfer from another account via the Internet. The withdrawals are made with the bank card, used on ATMs installed in all bank branches. To achieve them, you must know the secret code corresponding to the card.
Closing a bank account
The user of a bank may decide to close his bank account at any time, without even justifying his decision. He must then send a closing letter to his bank, by registered mail with acknowledgment of receipt. The institution hosting the bank account can not refuse, and often completes the closing within ten business days of receiving the letter. The customer must then return all means of payment he had. If a customer decides to close an account to change their bank, for example, they must first open a new bank account in their new establishment, make sure that all the current operations have been carried out and only subsequently close his bank account.