2024-01-09 08:32:31
You are grandparents, your minor grandchild has a savings account (A or Youth) in which you would like to deposit money? The ideal would be to make a transfer directly from your current account, or one of your own savings accounts.
For a long time, it was possible: banks agreed on request to issue a RIB associated with a savings account to allow anyone to carry out transactions towards this savings tool. By having this banking identifier, you could send money to your grandson or granddaughter, without having to go through the account of their legal representative. Nothing’s easier.
Problem: for some time now, this has no longer been possible. Indeed, banks were previously authorized to issue RIBs associated with savings accounts, but in doing so, they did not completely comply with the legislation in force. This one is however clearly fixed by a decision of the National Credit Council, the ancestor of the Financial Sector Advisory Committee (CCSF).
A rule set since… 1969
“Transactions recorded on passbook accounts are limited to payments or withdrawals for the benefit of the holder or transfers from or to his current account”establishes this old text from… 1969. “At that time, we came directly to the bank to deposit our money in a paper bookletrecalls the lawyer specializing in banking law, Aude Poulain de Saint-Père. Now with dematerialization, everything has changed! »
New ways of depositing and withdrawing money have spread, and banks have allowed themselves some liberties by allowing transfers to third-party savings accounts.
For Maître Poulain de Saint-Père, this is a misuse of the uses of booklets: “In this type of account, you are supposed to put money in and withdraw it for certain one-off transactions. But you should not move it regularly like a current account. Especially since this poses security problems”. To illustrate, the lawyer mentions the European directive on payment services DSP 2 of 2015.
Read also : Five things to know about French savings
Entering into force in 2018, it sets a legal framework and security standards for two new financial services: account aggregation and payment initiation. Except that the standards in question only apply to current accounts: “If you carried out such transactions with savings accounts, you were no longer protected by this directive”points Aude Poulain de Saint-Père.
No longer possible to make a transfer to a savings account since 2021
A legal void which worried the Senate Finance Committee. In a 2018 reportit notes that the 1969 regulations “does not seem to be applied by all banking establishments”. And therefore insists that they respect the primary rule: any transfer to a savings account must be issued from the current account of the same holder in the same establishment.
The banks complied, and from 2021 tightened the rules governing operations carried out for the debit and credit of passbooks and savings accounts. It is therefore no longer possible to transfer directly to these types of accounts; the money must necessarily be sent through the holder’s current account.
But let’s return to our original question. What should I do if the person I want to transfer money to is a minor and does not have a current account? The only third parties who can transfer money to a booklet, which is therefore not theirs, are the legal representatives of a minor.
For grandparents, but also uncles or aunts, it is therefore necessary to pass the money through the parents’ current account. If this puts you off, it is always possible to write a check and deposit it into the account. “This remains the most secure”supports Maître Poulain de Saint-Père.
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