What is a bank account agreement?

Verified 11 December 2023 - Directorate for Legal and Administrative Information (Prime Minister)

When you open a current account, the bank will then give you a account agreement that you have to sign. This document contains all the contractual commitments between the bank and you, from the opening to the closing of your account. We present you with the information you need to know.

The account agreement is a document written in paper or digital format (e.g. PDF file received by email).

It contains all the contractual commitments between the bank and you, from the opening to the closing of your account.

Account Terms and Conditions

The account agreement shall contain the following information:

Means of payment

The Convention must also provide precise information on the means of payment associated with the account. In particular, it shall indicate the following information:

  • Making available or not making available checks
  • Security and protection obligations relating to the use of means of payment
  • Procedures for improperly executed operations
  • Procedures in case of of payment incidents
  • Possibility of limiting the amount of expenditure offered for each means of payment
  • Fees, interest and exchange rates applicable

Overdraft Management

The agreement shall indicate the consequences of an overdraft. It shall specify the following information:

  • Provisions concerning a possible authorized overdraft (conditions of use, pricing conditions)
  • Consequences of an unauthorized discovery and the conditions under which you are informed. The applicable tariff shall also be specified
  • Possibility of blocking or returning means of payment
  • Possibilities for the bank to withdraw sums entered in other accounts in your name and managed by it to cover the overdraft

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

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

If you do not contest the new account agreement within this period, your silence means acceptance.

In case of dispute of the new account agreement, you have the following 2 possibilities:

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Agreement signed more than 6 months ago

The bank may terminate the agreement in accordance with notice of 2 months.

You can also terminate the account agreement at any time. However, if the Convention so provides, Maximum 30 days may be imposed on you.

Termination is free.

Fees for prepaid payment services (e.g. credit card fee) will be reimbursed in proportion to the life of the account agreement.

Agreement signed less than 6 months ago

The bank may terminate the agreement in accordance with notice of 2 months.

You can also terminate the account agreement at any time. However, if the Convention so provides, Maximum 30 days may be imposed on you.

Termination fees may be invoiced. These fees must be proportionate to the costs generated by the termination.

Fees for prepaid payment services (e.g. credit card fee) will be reimbursed in proportion to the life of the account agreement.

Warning  

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

You have a dispute with your bank regarding the application of your account agreement but you have not managed to resolve it amicably.

You can then to call on the banking ombudsman.

You can also go to court.

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