How to change banks

Have the rates charged by your bank become too expensive for you or have you lost the relationship of trust between you and your advisor and you want to change banks? In that case, don’t panic. You just have to follow the different steps and the steps to take so that everything goes as well as possible. Do not hesitate to go through an online banking comparator to best manage this change.

Prepare well for change

When you decide to make a change of bank, it is important to carry out an assessment of all the products that you have within your banking establishment. Indeed, if you hold consumer or real estate loans, home savings or other investment products, this will have to be dealt with on a case-by-case basis. When performing this migration to another bank, it will also be important for you to ensure the operation of your current account and in particular the validity of the checks that you may have omitted to deposit in your account or payments from your bank card. which have not yet been processed.

The steps to take

You should know that when you change your bank domiciliation, you have two choices:

You have the option of taking advantage of bank mobility assistance: it relieves you of all the formalities since it is your new bank that will take care of all the administrative formalities.

You can also do the steps yourself. In this case, it will be up to you to ask your home bank to transfer all of your accounts. Once this step has been completed, you will need to send the various organizations that make transfers and direct debits to your original account your new RIB (bank account details) so that they can record your change of bank.

Assistance with banking mobility

Since 2017 and the Macron law, the “banking mobility assistance” service allows a customer who wishes to change bank to be relieved, if he wishes, of all the administrative formalities concerning the change of bank. domiciliation of its direct debits as well as all of its recurring transfers such as mutual insurance, electricity, various subscriptions… Please note that it is your new bank that will take care of all of these procedures with your bank of origin. In addition, this banking mobility assistance service is totally free. Once the mandate has been received by the new bank, the two banks have 22 working days to make the changes.

The banking products you can transfer

Be aware that when you make the decision to change banks, all the products you hold within the latter are not transferable within your new banking institution. The banking mobility assistance service only concerns deposit and payment accounts. Concerning a Livret A, LDDS, Livret Jeune or even LEP, you will have to close your account yourself in order to be able to open another one in your new bank. For all that is CEL, PEL , PEA or securities accounts, these are transferable, but it is possible that these steps are invoiced. Very often, it is your new bank that bears the administrative costs.

Compare banks online

Switching banks requires preparation. So that everything goes as well as possible so that you make the right choice, online banking comparators exist. This is particularly the case of the Nouvelle Epargne site. The latter offers you the possibility of comparing all the banking establishments present on the market, whether they are traditional banks, accounts without a bank or even neo-banks. Whether you are an individual or a professional, Nouvelle Epargne is committed to providing you with all the information you need when choosing your new bank. Fast and free, Nouvelle Epargne allows you to take advantage of a wealth of information and provides you with all the keys you will need to choose the bank best suited to your needs.

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