Saving for solidarity
General terms and conditions of business
Crédit Municipal de Paris savings books
Article 1: DEFINITION: A Crédit Municipal savings account may take the form of a Solidarity passbook account or a Paris Partage passbook account ("Livret d'Epargne").
1.1. Solidarity passbook account: The Crédit Municipal de Paris Solidarity passbook account is an interest-bearing current savings account. It is open for an indefinite period. The Finansol label guarantees the solidarity and transparency of the Livret Solidarité1.
1.2 Paris Partage passbook account: The Crédit Municipal de Paris Paris Partage passbook is an interest-bearing current savings account. It is opened for an indefinite period. The account holder undertakes to share part of the interest earned with one of the organizations proposed by Crédit Municipal de Paris, in accordance with the terms and conditions set out in the special conditions. Donations made to associations are eligible for a tax reduction. The association receiving the donation will issue a certificate to the customer, enabling him/her to benefit from a tax reduction. The Finansol label guarantees the solidarity and transparency of the Livret Paris Partage1.
Article 2: GENERAL PROVISIONS: Crédit Municipal de Paris is a public communal credit and welfare institution approved by the Autorité de contrôle prudentiel et de résolution. The Contract concluded between the Customer and Crédit Municipal de Paris consists of: the present general terms and conditions; and the special terms and conditions of the account(s) subscribed to by the Customer, in accordance with the provisions of article 3. An electronic copy of the signed special conditions is given to the customer when a Livret d'Epargne is opened. The general terms and conditions are also available on the Crédit Municipal de Paris website. The customer may request a copy of the current version of these documents free of charge at any time. These general terms and conditions apply to all Livrets d'Epargne savings accounts held with Crédit Municipal de Paris. They also govern the obligations and responsibilities that remain after a Livret d'Epargne has been closed.
Article 3: OPENING A SAVINGS BOOK: The opening of a Crédit Municipal de Paris savings book account may be applied for by any natural person of legal age who is a French resident for French tax purposes. Each Crédit Municipal de Paris Livret d'Epargne account may have only one holder. It is identified by a unique number. A customer may have: a Livret Solidarité; or a Livret Paris Partage; or a Livret Solidarité and a Livret Paris Partage. The account is deemed open only after Crédit Municipal de Paris has received the minimum funds required and confirmed the opening of the Livret. When the account is opened, Crédit Municipal de Paris collects a set of information and identification documents, in accordance with the stipulations of the special terms and conditions. Crédit Municipal de Paris may also request and collect additional identification and customer knowledge documents in addition to those listed in the special terms and conditions. The customer is required to inform Crédit Municipal de Paris of any changes likely to affect the operation of the Livret d'Epargne (change of address, telephone number, etc.) and to provide any supporting documents requested by Crédit Municipal de Paris. The rate of interest applicable to the account is that in force on the date of the effective opening of the Crédit Municipal de Paris Livret d'Epargne, as indicated in the special conditions. The interest rate may be modified in accordance with the provisions of article 6. The opening and operation of a savings account are free of charge. Crédit Municipal de Paris does not charge any fees. The minimum deposit amount is 50 euros, on opening and during the course of the business relationship, and the account balance must never be less than this amount, except in cases where the funds invested have been used to open one or more term accounts, and the term account(s) has (have) been renewed without interruption. Crédit Municipal de Paris may refuse to accept a subscription request without having to justify its decision. The customer is informed of the acceptance or refusal to open the passbook account.
3.1 Solidarity passbook account: Deposits may be made into the Solidarity passbook account up to a total of 600,000 euros.
3.2 Paris Partage passbook account: Payments may be made into the Paris Partage passbook account up to a maximum of 50,000 euros. When the account is opened, the account holder determines the beneficiary organization and the level of interest sharing: 25%, 50%, 75% or 100%. These choices can be modified during the life of the contract, by means of an amendment to the special terms and conditions.
3.3. Livret d'Epargne opened for a protected adult: The Livret d'Epargne may only be opened for an adult who is the subject of a protection order, once the identity of the customer and his or her representative has been confirmed, and the court order setting out the rules governing the operation of the account has been presented to the credit institution. If the protective measure is applied when the Livret d'Epargne is already open, the customer's legal representative must inform Crédit Municipal de Paris and provide it with the decision ordering the measure.
Article 4: REMOTE SALES - WITHDRAWAL PERIOD: If the contract has been concluded remotely under the conditions set out in articles L. 343-1 et seq. of the French Monetary and Financial Code, and even if performance of the contract has begun before the expiration of the withdrawal period, the customer is informed of the possibility of withdrawing from the contract. In accordance with the provisions of articles L. 222-7 et seq. of the French Consumer Code, this right of withdrawal may be exercised by sending a registered letter with acknowledgement of receipt within a period of fourteen (14) completed calendar days from: the conclusion of the contract evidenced by written confirmation from Crédit Municipal de Paris, the day on which the customer receives the contractual conditions and information, in accordance with article L. 222-6 of the French Consumer Code, if this latter date is subsequent to the date of conclusion of the contract.
Article 5: FUNCTIONING: Payments into the Crédit Municipal de Paris Livret d'Epargne may be made at any time either by transfer from a deposit account opened at a credit institution located in France in the name of the account holder and/or in the form of cheque remittances. The minimum deposit is 50 euros. Withdrawal of available funds may be made at any time on express request signed by the customer (communicated by post or e-mail) or via the customer area available on the Crédit Municipal de Paris website, in the form of a transfer, to the credit of a current account opened in the customer's name in another banking establishment opened in France after the RIB has been registered on the customer area. If the withdrawal follows a cheque deposit, 21 days' notice must be given before the passbook debit operation can be validated.
Article 6: REMUNERATION: The nominal annual gross interest rate in effect on the date the passbook is opened is made known to the customer prior to opening the passbook and is indicated in the special conditions. This rate is set freely by Crédit Municipal de Paris and is subject to change. Crédit Municipal de Paris will inform the customer of any changes to the rate and the effective date by any means at its discretion. Interest is calculated every two weeks. Deposits earn interest from the 1st day of the fortnight following the transaction. Withdrawals cease to earn interest from the end of the previous fortnight. Interest is deducted once a year on December 31 and credited to the account at the beginning of the following year. Crédit Municipal sends an annual statement of information on the Livret d'Epargne. If the account is closed during the year, interest is paid when the passbook is closed.
Article 7: PAYMENT OF PARIS PARTAGE BOOKLET DONATIONS : Payment to the beneficiary organization is made once a year, at the beginning of the year or when the account is closed if this occurs during the year.
Article 8: INTEREST TAXATION 8.1 Taxation of the Livret Solidarité: A single flat-rate withholding tax is applied to interest income. This is equal to 30% and is made up of social security deductions and a flat-rate income tax deduction. The 17.2% social security levy is deducted at source when the interest is paid. The 12.80% flat-rate income tax is also deducted at source. The customer may, however, be exempted from this withholding tax, provided that he/she complies with the relevant conditions, in terms of taxable income, and has sent a request to Crédit Municipal de Paris, by e-mail or post, within the regulatory timeframe. As this waiver is annual, the account holder must renew it by November 30 of each year at the latest. In the event of a change of tax residence, the customer must inform Crédit Municipal de Paris as soon as possible. The account will then be closed in accordance with the conditions set out in article 10 below.
8.2: TAXATION OF THE SHARED PARIS PASSBOOK : The part of the interest that is not shared is subject to the single flat-rate withholding tax described in article 8.1. The portion of interest paid to the chosen beneficiary organization is subject to the flat-rate withholding tax (prélèvement forfaitaire libératoire solidaire) at a rate of 5% plus social security deductions of 17.2%. The donation of interest entitles the donor to a tax deduction in accordance with current legislation on donations. Each year, the beneficiary association sends the customer a tax receipt for the previous year's transactions for all net payments over 5 euros. In the event of a change of tax residence, the customer must inform Crédit Municipal de Paris as soon as possible. The account will then be closed in accordance with the conditions set out in article 10 below.
Article 9: DEPOSIT GUARANTEE: The customer is hereby informed that Crédit Municipal de Paris has subscribed to the securities and deposit guarantee mechanism provided for in article L. 312-4 of the French Monetary and Financial Code. The purpose of the funds guarantee mechanism is to indemnify the claim resulting in particular from the unavailability of cash funds deposited with a member institution. The compensation ceiling is 100,000 euros per institution and per depositor. Further information on the conditions (in particular exclusions) or deadlines for compensation may be requested by post from : Fonds de garantie des dépôts et de Résolution (" FGDR ") 65 rue de la Victoire 75009 Paris 01 58 18 38 08 or by email: See email For further information, please refer to Appendix 1.
Article 10: CLOSURE OF ACCOUNT AND WITHDRAWAL OF FUNDS: The customer may, at any time and without notice, close the account by sending a request by e-mail, accompanied by a letter signed by the customer, as an attachment, or by registered mail with acknowledgement of receipt addressed to the Savings Department of Crédit Municipal de Paris. Crédit Municipal de Paris reserves the right to close the account, giving at least two months' notice to the customer, except in special circumstances in the event of a breach of certain legal, regulatory or contractual obligations. In the event of refusal by the customer to provide any information required by Crédit Municipal to meet its obligations to combat money laundering and the financing of terrorism, the account may be closed immediately. In the event of the subscriber's death, the Livret d'Epargne is frozen pending instructions from the heirs or the notary in charge of the estate. In the latter case, the account is closed as described above.
Payment of the donation in the event of closure of a Livret Paris Partage: In the event of closure of a Livret Paris Partage, the planned donation is made to the beneficiary organization.
Article 11: DEPOSIT GUARANTEE: The customer is hereby informed that Crédit Municipal de Paris has subscribed to the securities and deposit guarantee mechanism provided for in article L. 312-4 of the French Monetary and Financial Code. The purpose of the funds guarantee mechanism is to indemnify the claim resulting in particular from the unavailability of cash funds deposited with a member institution. The compensation ceiling is 100,000 euros per institution and per depositor. Further information on the conditions (in particular exclusions) or deadlines for compensation may be requested by post from : Fonds de garantie des dépôts et de Résolution (" FGDR ") 65 rue de la Victoire 75009 Paris 01 58 18 38 08 or by email: See email For further information, please refer to Appendix 1.
Article 12: Combating money laundering and the financing of terrorism: In application of regulations relating to the fight against money laundering and the financing of terrorism, Crédit Municipal de Paris is required to: to identify and verify the identity of its customers, and to gather the customer information needed to understand the risk profile of its customers; to declare sums and transactions recorded in its books which Crédit Municipal de Paris knows, suspects or has good reason to suspect come from an offence punishable by a custodial sentence of more than one year, or are linked to the financing of terrorism or tax fraud; to obtain information from the customer in the event of transactions which appear unusual, particularly because of their terms, amount or exceptional nature in relation to those previously processed by the latter, or in relation to the customer knowledge information available. This information concerns the origin and destination of the sums in question, as well as the purpose of the transaction. Refusal by the customer to provide any information may result in the immediate closure of accounts without prior notice, in accordance with the financial conditions set out in article 10. Crédit Municipal de Paris may be obliged to seek the authorization of government agencies before carrying out a transaction, in accordance with applicable laws and regulations on the prevention of money laundering and the financing of terrorism. In addition, Crédit Municipal de Paris may be required to take certain measures, including freezing assets, which may result in delays or refusal to carry out certain transactions. Crédit Municipal de Paris is also required to apply additional vigilance measures with regard to Politically Exposed Persons, as defined in article R. 561-18 of the French Monetary and Financial Code. Crédit Municipal de Paris is thus required to inquire about the origin of the assets and funds involved in the business relationship or transaction. The customer undertakes to provide Crédit Municipal de Paris with any necessary information on the context of these operations.
Article 13: INACTIVE ACCOUNT: The Livret d'Epargne is considered inactive after a period of five years if : the passbook has not been the subject of any transaction, other than the recording of interest; or the customer has not contacted Crédit Municipal de Paris, in any form whatsoever, nor carried out any transaction on another account opened in his or her name in the institution's books; or the customer has died and at the end of a period of twelve months following the death during which none of his or her heirs has informed Crédit Municipal de Paris of his or her wish to assert his or her rights to the assets and deposits recorded therein. Crédit Municipal de Paris is obliged to pay the funds to the Caisse des Dépôts et Consignations (" CDC ") at the end of a period of: ten years from the most recent date between the date of the last transaction or event, or the end of the period of unavailability; three years after the customer's death. Six months before the expiry of these periods, Crédit Municipal de Paris informs the customer or any authorized person that the funds have been transferred to CDC. Sums deposited with CDC and not claimed by the customer or any authorized person will be acquired by the State at the end of a period of: twenty years from the date of deposit with CDC for accounts inactive for a reason other than the death of the customer; twenty-seven years from the date of deposit with CDC for accounts inactive due to the death of the customer. Crédit Municipal de Paris retains all information and documents relating to the Livret d'Epargne and its customers until the sums are acquired by the French State.
Article 14: BANKING SECRECY: In accordance with article L. 511-33 of the French Monetary and Financial Code, Crédit Municipal de Paris is bound by banking secrecy. The establishment will therefore ensure that information covered by banking secrecy remains confidential and protected from any access by third parties. Crédit Municipal de Paris may nevertheless communicate information covered by professional secrecy, when required, in the following cases : for the purposes of fraud prevention; to any person likely to exercise Crédit Municipal de Paris' rights under these general terms and conditions, particularly in the context of the outsourcing of certain services; when such disclosure is provided for by law, for example in the context of obligations to combat money laundering or the financing of terrorism or in the context of requests from the Autorité de contrôle prudentiel et de résolution or TRACFIN; to the competent tax authorities, should Crédit Municipal de Paris be required to do so.
Article 15: PERSONAL DATA PROTECTION: The personal data concerning the customer collected in the context of managing the banking relationship, in particular in the special terms and conditions, is used to: execute and manage savings contracts (record and update information concerning account holders, manage deposits and withdrawals, create and send statements and periodic statements, etc.); meet legal and regulatory obligations relating to: internal control of financial establishments (control of operations and results, prudential supervision and risk committee management, fight against fraud, etc.); day-to-day management of accounts (control of operations and results, prudential supervision and risk committee management, fight against fraud, etc.).); to meet legal and regulatory obligations relating to: internal control of financial institutions (control of operations and results, prudential supervision and management of the risk committee, fight against fraud, etc.); day-to-day management of savings accounts (declaration to the Fonds de Garantie des Dépôts et de Résolution, declaration to the bank account file of the Direction Générale des Finances Publiques, declarations to the tax authorities). the pursuit of Crédit Municipal de Paris' legitimate interests in monitoring its activity (statistics), and in managing claims and disputes. The processing of personal data is carried out under the responsibility of Crédit Municipal de Paris, and the provision of personal data is mandatory in order to open accounts and to comply with the legal obligations to which Crédit Municipal de Paris is subject. Access to personal data is strictly limited to authorized Crédit Municipal de Paris personnel and its subcontractors. Where necessary, it may be transmitted to the relevant supervisory authorities (Tracfin unit, Autorité de Contrôle Prudentiel et de Résolution, or Direction Générale du Trésor). Customer data is kept for a period of ten years from the end of the commercial relationship. Customers have the right to access, rectify, object to, delete and port their data, or to limit its processing. Subject to production of valid proof of identity, the customer may exercise these rights by simple request to Crédit Municipal de Paris, Délégué à la protection de données, 55 rue des Francs- Bourgeois 75004 Paris or by email to See email If the customer considers that his or her rights relating to the protection of personal data have not been respected, he or she may lodge a complaint with the CNIL 3 Place de Fontenoy TSA 80715 75334 Paris Cedex 07 or on the " www.cnil.fr/fr/plaintes " website.
Article 16: AUTOMATIC INFORMATION EXCHANGE (EAI): In accordance with article 1649 AC of the French General Tax Code and international or intergovernmental conventions and agreements signed by France with a view to improving compliance with tax obligations on an international scale, Crédit Municipal de Paris is required to identify, among all accounts opened in its books, those held by persons whose tax residence is in a State that has signed an exchange agreement with France. In order to comply with the identification obligation referred to above, Crédit Municipal de Paris will be required to collect and process information relating to the personal and tax situation of customers who have entered into a relationship since January 1, 2016. As soon as the customer becomes a non-French tax resident, he/she must inform Crédit Municipal de Paris as soon as possible in order to benefit from the applicable tax regime. The customer's account will be automatically closed in accordance with the financial conditions set out in article 10.
Article 17: SUPERVISORY AUTHORITIES: Crédit Municipal de Paris is subject to the supervision of : L'Autorité de Contrôle Prudentiel et de Résolution (ACPR) : Première Direction du Contrôle des Banques - Service 2 - 66 2752 4 Place de Budapest, CS 92459 75436 Paris Cedex 09
Article 18: MODIFICATION OF GENERAL TERMS AND CONDITIONS: Any legislative or regulatory measure which would have the effect of modifying all or part of the present agreement could be applicable as soon as it comes into force without prior notice or information. Crédit Municipal de Paris reserves the right to modify the general conditions in force at any time. Crédit Municipal de Paris will inform the customer two months prior to their entry into force, in accordance with the provisions of article L. 312-1-1 of the French Monetary and Financial Code. These terms and conditions are deemed to have been accepted, unless the customer expressly refuses by notifying Crédit Municipal de Paris by registered letter with acknowledgement of receipt within two months of such notification. The customer's refusal automatically entails immediate closure of the Account without notice, in accordance with the financial conditions set out in article 10, and without any additional charges.
Article 19: FOLLOW-UP OF COMMERCIAL RELATIONS / MEDIATION: In the event of questions or additional information, the customer is invited to consult the Crédit Municipal de Paris website or to contact the Service Epargne Solidarité. COMPLAINTS: In the event of a dispute arising from the opening or management of an account, the customer is invited to contact the complaints department by post at the following address: Crédit Municipal de Paris Service réclamations clientèle 55, rue des Francs Bourgeois 75 004 PARIS Or by e-mail: Voir l'email Crédit Municipal de Paris undertakes to acknowledge receipt of the customer's complaint within 10 working days of its receipt. A reply will be given no later than two months from the date of receipt of the complaint.
Recourse to the Mediation officer: In the event of an unresolved dispute, and after all amicable means of redress have been exhausted, the customer may submit his or her complaint for conciliation by post to the Mediation officer of Crédit Municipal de Paris at the following address: Monsieur Le Médiateur de l'Association Française des Sociétés Financières 24, avenue de la Grande Armée 75 854 Paris Cedex 17 Or directly on the mediator's website: www.asf-france.com/mediation
Article 20: LANGUAGE - COURTS OF JURISDICTION: Any agreement entered into in application of these general terms and conditions shall be in the French language. The customer expressly accepts the use of the French language in pre-contractual and contractual relations. For the settlement of any dispute or litigation, and in the absence of agreement between the parties, the courts of the Crédit Municipal de Paris head office shall have exclusive jurisdiction.
Appendix 1 - General information on deposit protection
| GENERAL INFORMATION ON DEPOSIT PROTECTION | |
| Deposits with Crédit Municipal de Paris are protected by : | Deposit Guarantee and Resolution Fund (FGDR) |
| Protection ceiling | 100,000 per depositor and per credit institution (1) |
| If you have several accounts with the same credit institution : | All your deposits in accounts opened with the same credit institution and falling within the scope of the guarantee are added together to determine the amount eligible for the guarantee; the amount of compensation is capped at €100,000 (1). |
| If you have a joint account with one or more other people: | The €100,000 limit applies to each depositor separately. The balance of the joint account is divided between its co-depositors; each person's share is added to his or her own assets to calculate the guarantee ceiling that applies to him or her (2). |
| Other special cases | See note (2) |
| Compensation period in the event of default by the credit institution : | Seven working days (3) |
| Compensation currency : | Euros |
| Correspondent : | Fonds de garantie des dépôts et de résolution (FGDR) 65, rue de la Victoire, 75009 Paris Telephone: 01-58-18-38-08 Email: View email |
| Find out more: | See the FGDR website: http :// www.garantiedesdepots.fr/ |
| Acknowledgement of receipt by the depositor (5) : | When signing these General Terms and Conditions |
(1) General limit of protection: If a deposit is unavailable because a credit institution is unable to meet its financial obligations, depositors are compensated by a deposit guarantee scheme. Compensation is capped at €100,000 per person and per credit institution. This means that all credit accounts with the same credit institution are added together to determine the amount eligible for the guarantee (subject to the application of legal or contractual provisions relating to set-off against its debit accounts). The indemnity ceiling is applied to this total. Deposits and persons eligible for this guarantee are listed in article L. 312-4-1 of the French Monetary and Financial Code (for further details, see the website of the Fonds de garantie des dépôts et de résolution). For example, if a customer holds an eligible savings account (excluding Livret A, Livret de développement durable et solidaire and Livret d'épargne populaire) with a balance of €90,000 and a term account with a balance of €20,000, compensation will be capped at €100,000. This method also applies when a credit institution operates under several commercial brands. Crédit Municipal de Paris does not operate under any brand name.
(2) Main special cases: Joint accounts are divided equally between the co-holders, unless otherwise stipulated in the contract. Each co-owner's share is added to his or her own accounts or deposits, and this total is covered by the guarantee up to €100,000. Accounts in which at least two people have rights in their capacity as joint owners, partners in a company, members of an association or any similar unincorporated group are grouped together and treated as having been made by a single depositor distinct from the joint owners or partners. Accounts belonging to an individual entrepreneur with limited liability (EIRL), opened for the purpose of allocating assets and bank deposits relating to his professional activity, are grouped together and treated as having been made by a single depositor distinct from the other accounts of this person. Sums deposited in Livret A, Livret de Développement Durable (LDD) and Livret d'Epargne Populaire (LEP) passbooks are guaranteed irrespective of the €100,000 aggregate ceiling applicable to other accounts. This guarantee covers the sums deposited in all these passbooks for the same holder, as well as the interest on these sums, up to a limit of €100,000 (for further details, see the website of the Fonds de garantie des dépôts et de résolution). For example, if a customer holds a Livret A and an LDD with a total balance of €30,000, as well as a current account with a balance of €90,000, he will be compensated €30,000 for his Livret A and €90,000 for his current account. Certain exceptional deposits (proceeds from a real estate transaction involving a residential property belonging to the depositor; sums constituting capital compensation for damage suffered by the depositor; sums constituting the capital payment of a retirement benefit or an inheritance) benefit from an increase in the guarantee above €100,000, for a limited period following their collection (for further details on this point, see the website of the Fonds de garantie des dépôts et de résolution).
(3) Indemnification: The Fonds de garantie des dépôts et de résolution makes the indemnification available to depositors and beneficiaries of the guarantee, for deposits covered by the guarantee, seven working days from the date on which the Autorité de contrôle prudentiel et de résolution determines that the deposits of the member institution are unavailable, pursuant to the first paragraph of I of article L. 312-5 of the French Monetary and Financial Code. This period of seven working days will apply from June 1, 2016; until this date, the period is twenty working days. This deadline applies to claims that do not require any special processing or additional information to determine the amount to be compensated or to identify the claimant. If special processing or additional information is required, compensation is paid as soon as possible. At the discretion of the Fonds de Garantie des Dépôts et de Résolution, compensation is made available either by sending a registered letter-cheque with acknowledgement of receipt, or by posting the necessary information online in a secure internet space specially created for this purpose by the Fonds and accessible from its official website (see below), to enable the beneficiary to indicate the new bank account to which he or she would like the compensation to be transferred.
(4) Other important information: The general principle is that all customers, whether individuals or companies, whether their accounts are opened on a personal or professional basis, are covered by the FGDR. Exceptions applicable to certain deposits or products are indicated on the FGDR website. Your credit institution will inform you on request whether its products are guaranteed or not. If a deposit is guaranteed, the credit institution will also confirm this on the account statement sent to you periodically and at least once a year.
(5) Acknowledgement of receipt: When this form is attached to or incorporated into the general terms and conditions or special terms and conditions of the draft contract or agreement, it is acknowledged when the agreement is signed. Acknowledgement of receipt is not required for the annual dispatch of the form after conclusion of the contract or agreement.
Crédit Municipal de Paris Solidarity Term Account
Article 1: DEFINITION OF THE SOLIDARITY TERM ACCOUNT: The Crédit Municipal de Paris Solidarity Term Account is an interest-bearing account on which funds deposited by the customer remain unavailable for a pre-agreed period, in accordance with the special terms and conditions. The funds collected are used to finance the pawnbroking activity of Crédit Municipal de Paris. The Finansol label guarantees the solidarity and transparency of the Compte à Terme Solidarité1.
Article 2: GENERAL PROVISIONS: Crédit Municipal de Paris is a municipal public credit and welfare institution approved by the Autorité de contrôle prudentiel et de résolution. The Contract concluded between the Customer and Crédit Municipal de Paris comprises: these general terms and conditions; and the special terms and conditions of the account(s) subscribed to by the Customer, in accordance with the provisions of article 3. An electronic copy of the signed special conditions is given to the customer when a Solidarity Term Account is opened. The general terms and conditions are also available on the Crédit Municipal de Paris website. The customer may request a copy of the current version of these documents free of charge at any time. These terms and conditions apply to Solidarity Term Accounts held with Crédit Municipal de Paris. They also govern the obligations and responsibilities that remain after the closure of a Solidarity Term Account.
Article 3: OPENING A SOLIDARITY TERM ACCOUNT: 3.1 General provisions for opening a Solidarity Term Account. The opening of a Solidarity Term Account may be requested by any natural person of legal age who is a French resident for French tax purposes. Each Solidarity Term Account may have only one account holder. It is identified by a unique number. The Solidarity Term Account requires the prior opening of a Solidarity Savings Account in the customer's name. The Solidarity Term Account is only deemed to have been opened once funds have been credited to the Livret Solidarité account and once Crédit Municipal de Paris has confirmed that the Solidarity Term Account has been opened. The initial payment of funds into the Solidarity Term Account is made by deduction from the Livret Solidarité account. When the account is opened, Crédit Municipal de Paris collects a set of information and identification documents, in accordance with the stipulations of the special terms and conditions. Crédit Municipal de Paris may also request and collect additional identification and customer knowledge documents in addition to those listed in the special terms and conditions. In addition, the customer is required to inform Crédit Municipal de Paris of any changes likely to affect the operation of the Solidarity Term Account (change of address, telephone number, etc.) and to provide any supporting documents requested by Crédit Municipal de Paris. The rate of interest applicable to the account is that in force on the date the Solidarity Term Account is opened, as indicated in the special terms and conditions. The opening and operation of the Solidarity Term Account and the associated Livret Solidarité are free of charge. Crédit Municipal de Paris therefore charges no fees. The number of term accounts opened in the name of a single customer is limited to five, for a total outstanding amount of 600,000 euros. Crédit Municipal de Paris may refuse to accept a subscription request without being obliged to justify its decision. The customer is informed of the acceptance or refusal to open the Solidarity Term Account.
3.2. Provisions relating to the opening of a Solidarity Term Account for a protected adult: The Solidarity Term Account may only be opened for an adult who is the subject of a protection order, once the identity of the customer and his or her representative has been proven and the court order setting out the rules governing the operation of the account has been presented to the credit institution. If the protection measure applies when the Solidarity Term Account is already open, the customer's legal representative must inform Crédit Municipal de Paris and provide the court order.
Article 4: REMOTE SALES - WITHDRAWAL PERIOD: If the contract has been concluded remotely under the conditions set out in articles L. 343-1 et seq. of the French Monetary and Financial Code, and even if performance of the contract has begun before the expiration of the withdrawal period, the customer is informed of the possibility of withdrawing from the contract. In accordance with the provisions of articles L.222-7 et seq. of the French Consumer Code, this right of withdrawal may be exercised by sending a registered letter with acknowledgement of receipt within a period of fourteen (14) completed calendar days from: the conclusion of the contract evidenced by written confirmation from Crédit Municipal de Paris; the day on which the customer receives the contractual conditions and information, in accordance with article L. 222- 6 of the French Consumer Code, if this latter date is subsequent to the date of conclusion of the contract.
Article 5: OPERATION: Each Solidarity Term Account may only be opened for one deposit and closed for one withdrawal. The minimum deposit is 1,500 euros. The lock-in period is contractually fixed in the special terms and conditions from the date the Solidarity Term Account is opened. A statement of account is sent at maturity and in the event of early withdrawal of funds, informing the account holder of the balance, the amount of interest paid and the deductions made at source (social security contributions and tax). The customer can also consult the balance of the Term Account at any time by logging on to the Crédit Municipal de Paris website.
Article 6 : REMUNERATION : The remuneration is fixed in advance for the entire duration of the Solidarity Term Account and is indicated in the special conditions. Interest is calculated from the effective date of deposit of funds in the Solidarity Term Account on the basis of 360 days per year (12 months of 30 days). Interest is paid on maturity of the Solidarity Term Account. This is a fixed rate, freely set by Crédit Municipal de Paris. It cannot be revised by Crédit Municipal de Paris during the term of the contract. The total amount of the deposit at subscription, over the agreed term, is remunerated according to the Gross Annual Actuarial Rate of Return (GAAR) indicated in the special terms and conditions of the contract. The GARR of an investment is the rate of return that would be obtained by discounting, using the compound interest method, the income paid out in the form of interest or in any other form.
Article 7: INTEREST TAXATION: A single flat-rate withholding tax is applied to interest income. This is equal to 30% and is made up of social security deductions and a flat-rate income tax deduction. The 17.2% social security levy is deducted at source when the interest is paid. The 12.80% flat-rate income tax is also deducted at source. The customer may, however, be exempted from this withholding tax, provided that he or she complies with the required conditions in terms of reference tax income, and has sent a request by e-mail or post to Crédit Municipal de Paris within the regulatory timeframe. As this waiver is annual, the account holder must renew it by November 30 of each year at the latest. In the event of a change of tax residence, the customer must inform Crédit Municipal de Paris as soon as possible. The account will then be closed in accordance with the conditions set out in article 9.2 below.
Article 8: DEPOSIT GUARANTEE: The customer is hereby informed that Crédit Municipal de Paris has subscribed to the securities and deposit guarantee mechanism provided for in article L. 312-4 of the French Monetary and Financial Code. The purpose of the funds guarantee mechanism is to indemnify the claim resulting in particular from the unavailability of cash funds deposited with a member institution. The compensation ceiling is 100,000 euros per institution and per depositor. Further information on the conditions (in particular exclusions) or deadlines for compensation may be requested by post from : Fonds de garantie des dépôts et de Résolution ("FGDR") 65 rue de la Victoire 75009 Paris 01 58 18 38 08 or by email: See email For further information, please refer to Appendix 1.
Article 9: TERMINATION OF ACCOUNT: 9.1. On maturity of the term account: When the term of the CAT expires, the account is automatically closed. On this date, the capital and interest are credited to the Livret Solidarité account backing the term account, after deduction of social security deductions and the flat-rate income tax deduction if the customer is subject to it. 9.2. Before maturity of the term account: No partial withdrawal of funds may be made during the term of the investment. The customer may request the release of all sums invested in a term account prior to maturity by e-mail, enclosing a letter signed by the customer, or by registered letter with acknowledgement of receipt addressed to the Crédit Municipal de Paris Savings Department, subject to 32 calendar days' notice. This notice period runs from the date of receipt by the Epargne Solidarité department of the registered letter or e-mail. In the event of a request to transfer funds to an external account, the transfer is issued on the business day following the expiry of this period. The amount of interest paid is calculated by applying the rate in force at the time of subscription: the Solidarity Savings Account rate for the effective term of the investment in the event of termination of a Solidarity Term Account between 1 month and 12 months, the Solidarity Term Account rate for 12 months for the effective term of the investment in the event of termination of a Solidarity Term Account between 12 and 18 months, the Solidarity Term Account rate for 18 months for the effective term of the investment in the event of termination between 18 and 24 months. Closure of the Livret Solidarité entails closure of the associated Solidarity Term Account(s). Crédit Municipal de Paris reserves the right to close the account, giving at least two months' notice to the customer, except in special circumstances in the event of a breach of certain legal, regulatory or contractual obligations. In the event of refusal by the customer to provide any information required by Crédit Municipal to meet its obligations to combat money laundering and the financing of terrorism, the account may be closed immediately. 9.3 In the event of the subscriber's death: The Solidarity Term Account is frozen pending instructions from heirs or the notary in charge of the estate. On expiry of the term stipulated in the special terms and conditions, the capital and interest are paid into the Livret Solidarité linked to the Solidarity Term Account, which is itself frozen pending instructions from heirs or the notary responsible for the estate.
Article 10: FIGHT AGAINST MONEY LAUNDERING AND THE FINANCING OF TERRORISM In application of legislation and regulations relating to the fight against money laundering and the financing of terrorism, Crédit Municipal de Paris is required to: to identify and verify the identity of its customers, and to gather the customer knowledge required to understand the risk profile of its customers; to declare sums and transactions recorded in its books, which Crédit Municipal de Paris knows, suspects or has good reason to suspect originate from an offence punishable by a prison sentence of more than one year, or are linked to the financing of terrorism which could originate from an offence punishable by a prison sentence of more than one year, or from tax fraud, or participate in the financing of terrorism; to obtain information from the customer in the event of transactions that appear unusual, notably because of their terms and conditions, their amount or their exceptional nature in relation to those previously processed by the latter, or in relation to available customer knowledge information. This information concerns the origin and destination of the sums in question, as well as the purpose of the transaction. Refusal by the customer to provide any information may result in immediate closure of the accounts without prior notice, in accordance with the financial conditions set out in 9.2. Crédit Municipal de Paris may be obliged to request the authorization of government agencies before carrying out a transaction, due to the applicable legal and regulatory provisions concerning the fight against money laundering or the financing of terrorism. In addition, Crédit Municipal de Paris may be required to take certain measures, including freezing assets, which may result in delays or refusal to carry out certain transactions. Crédit Municipal de Paris is also required to apply additional vigilance measures with regard to Politically Exposed Persons within the meaning of article R.561-18 of the French Monetary and Financial Code. Crédit Municipal de Paris is thus required to enquire about the origin of the assets and funds involved in the business relationship or transaction. The customer undertakes to provide Crédit Municipal de Paris with any necessary information on the context of these operations.
Article 11: BANKING SECRECY: In accordance with article L. 511-33 of the French Monetary and Financial Code, Crédit Municipal de Paris is bound by banking secrecy. The establishment will therefore ensure that information covered by banking secrecy remains confidential and protected from any access by third parties. Crédit Municipal de Paris may nevertheless communicate information covered by professional secrecy, when required, in the following cases: for fraud prevention purposes; to persons with whom Crédit Municipal de Paris negotiates or executes one of the operations listed in article L. 511-33 of the French Monetary and Financial Code, when the information covered by banking secrecy is necessary for these operations: credit operations carried out, directly or indirectly, by one or more credit institutions or finance companies;acquisitions of holdings or control in a credit institution, transfers of assets or goodwill;assignments or transfers of receivables or contracts; service contracts concluded with a third party with a view to entrusting it with important operational functions; during the study or preparation of any type of contract or operation, provided that these entities belong to the same group as the originator of the communication. to any person likely to exercise the rights of Crédit Municipal de Paris under these terms and conditions, in particular in the context of the outsourcing of certain services; when such disclosure is required by law, for example in the context of obligations to combat money laundering or the financing of terrorism, or in the context of requests from the Autorité de contrôle prudentiel et de résolution or TRACFIN; to the competent tax authorities, should Crédit Municipal de Paris be required to do so.
Article 12: PROTECTION OF PERSONAL DATA: Personal data concerning the customer collected in the context of managing the banking relationship, in particular in the special conditions, is used for: the execution and management of savings contracts (recording and updating of account holder information, management of deposits and withdrawals, creation and dispatch of periodic statements, etc.); the day-to-day management of savings accounts (declaration to the Fonds Garantie Dépôts et Résolution, declaration to the bank account file of the Direction Générale des Finances Publiques, tax declarations, etc.).); the day-to-day management of savings accounts (declaration to the Fonds de Garantie des Dépôts et de Résolution, declaration to the bank account file of the Direction Générale des Finances Publiques, declarations to the tax authorities). the pursuit of Crédit Municipal de Paris' legitimate interests in monitoring its activity (statistics), and in managing claims and disputes. The processing of personal data is carried out under the responsibility of Crédit Municipal de Paris, and the provision of personal data is mandatory in order to open accounts and to comply with the legal obligations to which Crédit Municipal de Paris is subject. Access to personal data is strictly limited to authorized Crédit Municipal de Paris personnel and its subcontractors. Where necessary, it may be transmitted to the relevant supervisory authorities (Tracfin unit, Autorité de Contrôle Prudentiel et de Résolution, or Direction Générale du Trésor). Customer data is kept for a period of ten years from the end of the commercial relationship. Customers have the right to access, rectify, oppose, delete and port their data, or to limit processing. Subject to production of valid proof of identity, the customer may exercise these rights by simple request to Crédit Municipal de Paris, Délégué à la protection de données, 55 rue des Francs-Bourgeois 75004 Paris or by e-mail to the address See e-mail. If the customer considers that his or her rights relating to the protection of personal data have not been respected, he or she may lodge a complaint with the CNIL 3 Place de Fontenoy TSA 80715 75334 Paris Cedex 07 or at www.cnil.fr/fr/plaintes. "
Article 13: AUTOMATIC INFORMATION EXCHANGE (EAI) In accordance with article 1649 AC of the French General Tax Code and international or intergovernmental conventions and agreements signed by France with a view to improving compliance with tax obligations on an international scale, Crédit Municipal de Paris is required to identify, among all accounts opened in its books, those held by persons whose tax residence is in a State that has signed an exchange agreement with France. In order to comply with the identification obligation referred to above, Crédit Municipal de Paris will be required to collect and process information relating to the personal and tax situation of customers who have entered into a relationship since January 1, 2016. As soon as the customer becomes a non-French tax resident, he/she must inform Crédit Municipal de Paris as soon as possible in order to benefit from the applicable tax regime. Their account will be automatically closed in accordance with the financial conditions set out in 9.2.
Article 14: SUPERVISORY AUTHORITIES Crédit Municipal de Paris is subject to the supervision of : L'Autorité de Contrôle Prudentiel et de Résolution (ACPR) : Première Direction du Contrôle des Banques - Service 2 - 66 2752 4 Place de Budapest, CS 92459 75436 Paris Cedex 09
Article 15: MODIFICATION OF GENERAL TERMS AND CONDITIONS Any legislative or regulatory measure which would have the effect of modifying all or part of the present agreement could be applicable as soon as it comes into force without prior notice or information. Crédit Municipal de Paris reserves the right to modify the current general terms and conditions at any time. Crédit Municipal de Paris will inform the customer two months prior to their entry into force, in accordance with the provisions of article L. 312-1-1 of the French Monetary and Financial Code. These terms and conditions are deemed to have been accepted, unless the customer expressly refuses by notifying Crédit Municipal de Paris by registered letter with acknowledgement of receipt within two months of such notification. If the customer refuses, the Solidarity Term Account is automatically closed without notice and without charge.
Article 16: FOLLOW-UP OF COMMERCIAL RELATIONS / MEDIATION Should the customer have any questions or require further information, he/she is invited to consult the Crédit Municipal de Paris website or to contact the Service Epargne Solidarité. Complaints: In the event of a dispute arising from the opening or management of an account, the customer is invited to contact the complaints department by post at the following address: Crédit Municipal de Paris Service réclamations clientèle 55, rue des Francs Bourgeois 75 004 PARIS Or by e-mail: Voir l'email Crédit Municipal de Paris undertakes to acknowledge receipt of the customer's complaint within 10 working days of its receipt. A reply will be given no later than two months from the date of receipt of the complaint. Recourse to the Mediator: In the event of an unresolved dispute, and after all amicable means of redress have been exhausted, the customer may submit his or her complaint for conciliation by post to the Mediator of Crédit Municipal de Paris at the following address: Monsieur Le Médiateur de l'Association Française des Sociétés Financières 24, avenue de la Grande Armée 75 854 Paris Cedex 17 Or directly on the mediator's website: www.asf-france.com/mediation
Article 17: LANGUAGE - COURTS OF JURISDICTION Any agreement entered into in application of these general terms and conditions shall be in the French language. The customer expressly accepts the use of the French language in pre-contractual and contractual relations. For the settlement of any dispute or litigation and in the absence of agreement between the parties, the courts of the Crédit Municipal de Paris head office shall have exclusive jurisdiction.
Appendix 1 - General information on deposit protection
| GENERAL INFORMATION ON DEPOSIT PROTECTION | |
| Deposits with Crédit Municipal de Paris are protected by : | Deposit Guarantee and Resolution Fund (FGDR) |
| Protection ceiling | 100,000 per depositor and per credit institution (1) |
| If you have several accounts with the same credit institution : | All your deposits in accounts opened with the same credit institution and falling within the scope of the guarantee are added together to determine the amount eligible for the guarantee; the amount of compensation is capped at €100,000 (1). |
| If you have a joint account with one or more other people: | The €100,000 limit applies to each depositor separately. The balance of the joint account is divided between its co-depositors; each person's share is added to his or her own assets to calculate the guarantee ceiling that applies to him or her (2). |
| Other special cases | See note (2) |
| Compensation period in the event of default by the credit institution : | Seven working days (3) |
| Compensation currency : | Euros |
| Correspondent : | Fonds de garantie des dépôts et de résolution (FGDR) 65, rue de la Victoire, 75009 Paris Telephone: 01-58-18-38-08 Email: View email |
| Find out more: | See the FGDR website: http :// www.garantiedesdepots.fr/ |
| Acknowledgement of receipt by the depositor (5) : | When signing these General Terms and Conditions |
(1) General limit of protection: If a deposit is unavailable because a credit institution is unable to meet its financial obligations, depositors are compensated by a deposit guarantee scheme. Compensation is capped at €100,000 per person and per credit institution. This means that all credit accounts with the same credit institution are added together to determine the amount eligible for the guarantee (subject to the application of legal or contractual provisions relating to set-off against its debit accounts). The indemnity ceiling is applied to this total. Deposits and persons eligible for this guarantee are listed in article L. 312-4-1 of the French Monetary and Financial Code (for further details, see the website of the Fonds de garantie des dépôts et de résolution). For example, if a customer holds an eligible savings account (excluding Livret A, Livret de développement durable et solidaire and Livret d'épargne populaire) with a balance of €90,000 and a term account with a balance of €20,000, compensation will be capped at €100,000. This method also applies when a credit institution operates under several commercial brands. Crédit Municipal de Paris does not operate under any brand name.
(2) Main special cases: Joint accounts are divided equally between the co-holders, unless otherwise stipulated in the contract. Each co-owner's share is added to his or her own accounts or deposits, and this total is covered by the guarantee up to €100,000. Accounts in which at least two people have rights in their capacity as joint owners, partners in a company, members of an association or any similar unincorporated group are grouped together and treated as having been made by a single depositor distinct from the joint owners or partners. Accounts belonging to an individual entrepreneur with limited liability (EIRL), opened for the purpose of allocating assets and bank deposits relating to his professional activity, are grouped together and treated as having been made by a single depositor distinct from the other accounts of this person. Sums deposited in Livret A, Livret de Développement Durable (LDD) and Livret d'Epargne Populaire (LEP) passbooks are guaranteed irrespective of the €100,000 aggregate ceiling applicable to other accounts. This guarantee covers the sums deposited in all these passbooks for the same holder, as well as the interest on these sums, up to a limit of €100,000 (for further details, see the website of the Fonds de garantie des dépôts et de résolution). For example, if a customer holds a Livret A and an LDD with a total balance of €30,000, as well as a current account with a balance of €90,000, he will be compensated €30,000 for his Livret A and €90,000 for his current account. Certain exceptional deposits (proceeds from a real estate transaction involving a residential property belonging to the depositor; sums constituting capital compensation for damage suffered by the depositor; sums constituting the capital payment of a retirement benefit or an inheritance) benefit from an increase in the guarantee above €100,000, for a limited period following their collection (for further details on this point, see the website of the Fonds de garantie des dépôts et de résolution).
(3) Indemnification: The Fonds de garantie des dépôts et de résolution makes the indemnification available to depositors and beneficiaries of the guarantee, for deposits covered by the guarantee, seven working days from the date on which the Autorité de contrôle prudentiel et de résolution determines that the deposits of the member institution are unavailable, pursuant to the first paragraph of I of article L. 312-5 of the French Monetary and Financial Code. This period of seven working days will apply from June 1, 2016; until this date, the period is twenty working days. This deadline applies to claims that do not require any special processing or additional information to determine the amount to be compensated or to identify the claimant. If special processing or additional information is required, compensation is paid as soon as possible. At the discretion of the Fonds de Garantie des Dépôts et de Résolution, compensation is made available either by sending a registered letter-cheque with acknowledgement of receipt, or by posting the necessary information online in a secure internet space specially created for this purpose by the Fonds and accessible from its official website (see below), to enable the beneficiary to indicate the new bank account to which he or she would like the compensation to be transferred.
(4) Other important information: The general principle is that all customers, whether individuals or companies, whether their accounts are opened on a personal or professional basis, are covered by the FGDR. Exceptions applicable to certain deposits or products are indicated on the FGDR website. Your credit institution will inform you on request whether its products are guaranteed or not. If a deposit is guaranteed, the credit institution will also confirm this on the account statement sent to you periodically and at least once a year.
(5) Acknowledgement of receipt: When this form is attached to or incorporated into the general terms and conditions or special terms and conditions of the draft contract or agreement, it is acknowledged when the agreement is signed. Acknowledgement of receipt is not required for the annual dispatch of the form after conclusion of the contract or agreement.