If online banks have the reputation of being less demanding and more open than their physical counterparts, the fact remains that many of them (we can even speak of a majority) impose minimum income conditions to their new customers.
Result: if you do not receive a high enough salary, you simply will not be able to open a bank account. And your file will be refused without any other form of trial. The good news is that some virtual banks do not impose any of these conditions. Find out which ones in today’s article.
Why choose an online bank with no income requirement?
Online banks have several assets to attract new customers. The first is that they are generally much cheaper than traditional banks. For example, you can avoid the vast majority of bank charges, or even receive your bank card for free.
Nevertheless, these pricing practices also tend to exclude the most precarious French people. Because to be profitable, online banks rely primarily on customers with a fixed income, and above a very specific threshold. Most often, these income conditions will not exceed 1,000 to 1,200 euros per month. However, not everyone receives such sums.
If this is your case, because you are still a student, you have just lost your job, or you have started your business and you do not yet have a regular income, you will certainly be interested in the possibility of open an online bank account without having to justify your salary. Many virtual banks give you this possibility. Be careful though, because this will be at the expense of the free access to certain basic banking services, such as having a bank card for example.
What are the best online banks that do not impose an income test?
In recent years, some online banks have decided to take the opposite view of everything free and to target young or precarious people by imposing no income condition. Here are the most interesting online banking offers without income conditions:
Monabanq: open a bank account with no income requirement
Monabanq is one of the most interesting banks if you cannot yet justify a minimum income. Indeed, you can open a bank account without being asked for your payslip. Or even to domicile your income with Monabanq. This should be of particular interest to temporary workers, intermittent workers, retirees, people looking for a job or without income (such as students).
Of course, these advantages will come with other constraints. For example, you will not be able to benefit from a free bank card, since you will have to pay 2 euros per month. You will also need to make a transfer of at least 150 euros when you open your virtual bank account.
Boursorama Banque: the ideal Welcome offer for people with no income
You can also open an account without justifying your income at Boursorama Banque. Not all offers will be accessible to you, but the specificity of Welcome is that it does not require any minimum income. Unlike Monabanq, this will not result in additional fees. Indeed, you can always receive your credit card for free. You will only have to carry out at least one operation every month, if you do not want to pay the 5 euros in bank charges.
The only drawback of this offer is that you will only be able to receive a classic visa card, with fairly limited withdrawal (200 euros) and payment (600 euros monthly) limits. But if you have a fairly low income, this shouldn’t be a problem.
ING Direct: a bank established without income conditions
You are certainly already familiar with the BNP Paribas online bank. But did you know that ING Direct has an unrestricted income offer. Indeed, you will not need to present your payslip to open your account. And you can choose to carry out your operations online or in the physical branches of the BNP network. And therefore benefit from the advantages of an online bank and a traditional bank.
N26: the German neo-bank with no minimum income
N26 is one of the most popular neo-banks in France and Europe. Based in Germany, it offers many advantages to its customers such as a free MasterCard and almost non-existent foreign withdrawal fees.
But the other reason why you will definitely want to open an account with N26 is that it will not require you to justify a minimum income. This is what certainly explains why it is so popular with students and freelancers. And that it now has more than 200,000 customers in France. With an account opening process taking less than 10 minutes, N26 really has it all.
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Eko by CA: no income condition for Crédit Agricole’s online bank
We finish this ranking of the best online banks without income conditions, we find the neo-bank of Crédit Agricole. With very competitive bank charges (only 2 euros per month), and the sending of a free MasterCard and operating internationally, it is an excellent option for low incomes or people in precariousness.