Wondering if you can with a booklet A in several banks? We explain all the conditions to open one.
The livret A remains a fairly advantageous savings account. For this reason, savers may be tempted to open several savings accounts A within the same bank or in several establishments. But is this practice authorized by law? And does the bank carry out checks before opening a livret A? We tell you everything about this investment: definition, opening conditions, formalities for closing a savings account, authorization or not to have a savings account in several banks, accumulation of savings accounts…
What is Booklet A?
The Livret A is a remunerated savings account. Funds are available at all times. This investment is advantageous because it is free of charge and the interest paid is exempt from income tax and social security contributions.
It is the government that sets the interest rate for the Livret A, twice a year. Also note that all banks are able to offer the Livret A to their client.
The ceiling for the Livret A is set at 22,950 euros. As for the annual interest rate, it is 0.75%. Interest is calculated on the 1and and the 16th of each month.
The conditions for opening a booklet A
To open an A booklet, it is not necessary to be of legal age. Indeed, a minor can also hold a booklet A.
On the other hand, you cannot have more than one booklet A at a time. To make sure, the bank will question the tax authorities. If you hold a livret A in another institution, the bank will refuse to open a savings account.
Finally, to open a livret A, you will need to sign a written contract with the bank. The document will stipulate the operations authorized by the organization (transfer, deposit, withdrawal, etc.).
How does an A booklet work?
The operation of a livret A remains similar to that of an ordinary savings account, with the only difference that you receive neither checkbook nor payment card.
However, the bank can give you a withdrawal card to use at network ATMs.
On the other hand, you must withdraw or deposit at least 10 euros (1.50 euro for a livret A at the Postal Bank).
You can withdraw the amounts from the livret A from the age of 16, unless your legal representative objects. But in any case, the balance cannot be a debit.
Finally, note that all operations carried out on the passbook A (opening, deposit, withdrawal, closing) are not invoiced.
How to close a booklet A?
You can close a livret A by going directly to an agency or by sending a simple letter to your bank.
Whatever the means used, you must specify the references of the booklet A and the account number where the sums of the booklet must be deposited.
To know : if the Livret A account is closed during the year, interest over the period since the beginning of the year is credited on the day the account is closed.
On the same subject >> Closing an A savings account at the Postal Bank
Can we have several Livret A accounts in several banks?
Some people wonder whether it is possible to hold several Livret A accounts within the same bank or in several different organizations. Savers are sometimes tempted to open several A savings accounts with various banking establishments to take advantage of tax exemptions.
But in either case, it is impossible to open several booklets A. This practice is prohibited. Moreover, since 2013, banks have been carrying out checks. Prior to this date, in the event of fraud, the holder incurred a fine of 2% on the amount placed in duplicate and the refiscalization of excess accrued interest.
How do banks verify multi-holding?
Before 2013, all you had to do was submit a sworn statement to your bank. But since that date, banks are forced to carry out checks. To do this, they ask the tax authorities, which must then respond to them within 48 hours.
If the answer is negative, the opening of the booklet A can be done immediately. On the other hand, in the event of a positive response (holding another passbook elsewhere), the customer has the choice between renouncing to open another passbook or closing his old passbook. He can carry out the steps himself or ask his bank to undertake the necessary formalities.
After the opening request, he must provide a certificate to his bank. He then has a maximum period of three months. Once this period has elapsed, the bank will again consult the tax authorities. The new livret A can only be opened after receipt of the closing certificate from the bank where the old livret was domiciled.
As an individual, how to check the existence of an old booklet A?
Some savers may hold several Livret A savings accounts without knowing it. Sometimes parents open one on the day their child is born, for example.
To check that you do not hold another booklet A elsewhere, contact the tax center on which you depend. You can also make a request to the CNIL which has access to the bank accounts listed on Ficoba (National file of bank accounts and similar).
Can we combine several passbooks in one or more banks?
If it is impossible to hold several booklets A in one or more banks, on the other hand, you can combine different booklets such as booklet A, PEL, LDD within the same bank, or in several.
Moreover, with these three banking products, a saver can invest up to 96,150 euros. This ensures an average net return of 1.8% (1730 euros of interest per year without capitalization). This benefit is partly due to the almost total absence of taxes and social contributions.
The combination of booklet A, PEL and LDD is therefore a good idea to make your money grow. Especially since there are few constraints. Only the Housing Savings Plan (PEL) requires the blocking of funds for a minimum period.
This strategy of accumulating booklets proves to be more advantageous than life insurance because in this case, the funds are blocked for at least 8 years.