How to change bank

Contrary to popular belief, changing banks is not synonymous with long and complex administrative formalities. Since 2017, the bank mobility service has made the operation easier and less costly. Here's a closer look at the rights you need to know and the steps you need to take.

Two possible solutions for changing banks

Thinking of changing bank? There are two solutions: take the necessary steps yourself, or take advantage of our banking mobility assistance.

If you choose to do it yourself, you'll need to ask your current bank to transfer the accounts, and then send the new bank details (RIB) to the organizations making transfers and direct debits from the bank account, so that they can register them.

If you decide to use the Bank Switching Service, you won't need to do a thing. The new bank will take care of all the formalities with your original bank concerning your current account.

How can I compare banks effectively?

Whether you decide to make the switch yourself or use the banking mobility scheme, it's essential to compare the offers available from different banks. To save time, don't hesitate to use a free, no-obligation online comparison tool.

In concrete terms, there are a number of elements that merit particular attention:

  • Services and products,
  • Account opening conditions (minimum income required, mandatory deposits),
  • Bank charges (cost of bank cards, account maintenance fees, rates for other products and services),
  • Account opening bonuses,
  • Customer service quality.

If you don't want to take advantage of the banking mobility scheme, you'll need to open an account with your chosen bank, send your bank details to the relevant organizations and companies, and then fund the account.

Focus on the banking mobility assistance service

The bank mobility assistance service was created in 2017 to make it easier to change banks. Concerning only deposit or payment accounts, it aims to alert all organizations that make direct debits or automatic transfers to the customer's change of bank domiciliation.

Banks must systematically provide their customers with an information brochure on this scheme, detailing :

  • the role of the receiving and sending establishments,
  • the deadlines for completing the various stages of switching banks,
  • information to be provided by the customer,
  • the possibility of recourse to a mediator,
  • how to contact the customer relations department.

If you decide to take advantage of the bank mobility scheme, you'll need to give your new bank a mandate to carry out the necessary formalities. Once you've informed your old bank of your wish to switch, the new bank can begin the process of changing the direct debit address for recurring direct debits and credit transfers. Banks have 22 working days from receipt of the required documents to make the changes. Once the information has been transmitted, the new bank will provide the customer with a summary of the transactions for which a change of direct debit has been notified, as well as a list of cheques that have not yet been debited.