Your right to a bank account with IEOM
Having a bank account is essential for managing your day-to-day finances. If you do not have an account or are facing difficulties opening one, IEOM allows you to exercise this fundamental right through the ‘right to an account’ procedure.
Why is the right to a bank account essential ?
Having a bank account is a legal right and is essential for :
- Access to basic banking services : A bank account allows you to receive payments, pay bills, and manage your finances more efficiently ;
- Security : Depositing your money in a bank is safer than keeping it in cash at home ;
- Financial inclusion : It enables you to participate in economic and social life.
Who is eligible for the right to a bank account ?
The right to a bank account is available to anyone who :
- Lives in France, regardless of nationality, as well as to French citizens living abroad or foreign nationals legally residing in the European Union ;
- Does not have a bank account in their name and has been refused by a bank when trying to open one ;
- Holds a joint account but is unable to open an individual account ;
- Has a bank account that is in the process of being closed.
How to exercise your right to a bank account ?
1 A bank refuses to open you a business bank account :
You must have sent your application for a bank account by a registered letter or delivered it in person against a receipt at the counter of a bank. If you do not receive a reply from the bank within 15 days, the bank’s silence is deemed to be a refusal.
2 Compiling your file
To complete your application, you must submit :
- The form completed and signed (available below or from your IEOM office) ;
- A certificate of refusal to open an account issued by a bank in your name. If you have not received this certificate, you must provide a copy of the acknowledgement of receipt of a registered letter requesting the opening of an account. Otherwise, you will have to provide proof of hand delivery of the request, dated more than 15 days previously ;
- A copy of a valid double-sided identity document ;
- Proof of address less than 3 months old.
In this file, you can indicate the bank where you would like your account to be domiciled. Please note, however, that this bank may not be the one ultimately designated.
3 Submit Your Request to IEOM:
Once completed, you can submit your application :
- By mail to the nearest IEOM office address ;
- In person at an IEOM agency counter.
IEOM will examine your application and, if it is complete, will designate a bank to open your account within 24 hours.
My place of residence :
Wallis and Futuna
4 I indicate my place of residence :
Once designated, the bank must send you – within 3 days – a list of the documents required to open the account, along with the contact details of the relevant branch. Gather all the necessary documents and then contact the bank to finalise the account opening. If your application is complete, the bank is required to open your account within 3 days of receiving the documents.
Basic banking services included
The designated bank must provide you with at least the following services free of charge :
- A payment card with systematic authorisation ;
- Deposit of cheques and receipt of bank transfers ;
- SEPA direct debits and SEPA credit transfers ;
- Remote access to your account balance ;
- Over-the-counter cash deposits and withdrawals ;
- Two bank cheques per month or equivalent means of payment.
These services ensure that everyone can access the banking system and manage their finances safely and effectively. If you have any questions or need assistance with submitting your request, IEOM is here to support you throughout the process.
Our answers to your questions
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YES
If you already have a join account (For example : if you are a joint holder of a joint account or an undivided account) and you do not have an individual account, i.e. an account for which you are the sole holder, and a bank refuses to open an individual account for you, you may exercise your right to a bank account.
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The designation letter appointing a banking institution, which is required to open an account for the applicantis valid for 6 months from the date of issue by IEOM.
It is recommended to contact the designated bank without delay. In addition, keep proof of any documents submitted to the bank.
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NO, except in specific cases.
A bank may refuse to open an account for you, even if it has been designated by the IEOM under the right to bank account procedure, in the following situations :
- If you already have a deposit account with the designated institution or with another institution;
- If you do not provide the supporting documents requested by the bank as part of the Anti‑Money Laundering and Counter‑Terrorist Financing requirements.
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No, except in specific cases.
A bank designated by IEOM under the right to an account procedure may close the account in the following situations:
- If you have deliberately used the account for transactions that the institution has reason to suspect are for illegal purposes ;
- If you have provided inaccurate information ;
- If you no longer meet the domicile or residence conditions (domiciled in France or resident in another EU Member State).
- If you have opened a second account in France allowing access to basic banking services.
- If you display repeated incivility towards the institution’s staff.
- When the institution is unable to fulfil its customer due diligence obligations.
In these cases only, the account may be closed:
- After a two-month notice period prior to the effective closure ;
- After notification of the reasoned closure decision sent to the account holder and to the Banque de France, which carried out the designation.
IEOM must be informed, by the banking institution, as soon as possible, of the reasons for the account closure.
