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Banking Ban Payment Card

NOTE: At Veritas, we believe it is important to explain in detail all aspects of the "banking ban payment card" product so that everyone can choose the one that suits them best. The information on this internet page is generic and provided for informational purposes only to help the reader understand the "banking ban payment card" product in general. It should not be considered absolutely comprehensive and may vary depending on local legislation or other factors. Therefore, in the event of a subscription, this information does not replace reading and accepting the general terms and conditions.

If you find yourself in a situation where you've been banned from banking, you undoubtedly face many difficulties in managing your money and carrying out everyday transactions such as paying bills, making online purchases or sending money abroad. Fortunately, there are alternatives to traditional bank accounts that can make life easier for people with no bank accounts, such as prepaid payment cards. In this article, we invite you to find out what options are available to bankrupts to pay for their purchases in everyday life and online.

Banking Ban: What does it mean?

Being subject to a banking ban means being denied access to traditional banking services, often following payment incidents such as issuing checks without sufficient funds. This banking prohibition involves restrictions on the use of traditional payment methods and access to certain financial services. It does not mean that a person can no longer use financial services at all but must turn to alternatives like prepaid cards, which offer a solution without requiring a traditional bank account.

Why Does One Become Subject to a Banking Ban?

One becomes subject to a banking ban following payment incidents, usually after issuing checks without sufficient funds. This situation is reported by the bank to the Banque de France, which then registers the person in a national file of payment incidents. The banking ban, which generally lasts five years unless rectified, limits access to common payment methods such as checks but does not necessarily restrict the use of other financial services like prepaid cards.

Differences Between FICP, Listed by Banque de France, and Banking Ban

01
FICP
This is a file for individuals who have payment incidents with credits or overdrafts. It is managed by the Banque de France.
02
Listed at Banque de France
This can refer to several types of listings, such as FICP or FCC (Central Cheque File), depending on the nature of financial incidents.
03
Banking Ban
Specifically concerns individuals who have issued checks without sufficient funds. The banking ban is generally associated with being listed in the FCC.

How to Know If You Are Listed by Banque de France?

To find out if you are subject to a banking ban or listed by the Banque de France, you can directly contact them. Affected individuals have the right to ask the Banque de France if they are listed and, if so, on which file. In the case of a banking ban, the bank that initiated the ban must also inform the client.
Good to know: Banks are required to inform their clients of any payment incident leading to a listing.

How do I know if I am blacklisted by the bank?

To check if you are blacklisted by a bank in an English-speaking country, start by contacting your bank directly to get information on any possible restrictions. Next, obtain a credit report from the main credit reporting agencies available in each country, which will provide details on your financial history. You can also check online bankruptcy and insolvency registers to see if any actions have been taken against you. If you have doubts or are facing difficulties, consult debt management advisors who offer free services to assess your financial situation and guide you. In some countries, it may also be helpful to check cheque management systems to see if you have restrictions related to cheque usage.

Consequences of a Banking Ban

The consequences of a banking ban include the prohibition of issuing checks and the inability to use checks already in circulation. The affected person may also face difficulties obtaining credit or opening a bank account. However, they retain the ability to use other payment methods such as payment cards and transfers. The ban generally lasts five years unless the issues that led to this situation are resolved sooner.

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How to Avoid a Banking Ban?

To avoid a banking ban:
  1. Ensure you have sufficient coverage in your account before issuing checks.
  2. Regularly monitor your bank balance and use other payment methods if you are unsure of your balance.
  3. In case of financial difficulties, communicate promptly with your bank to find solutions and avoid listing.
Caution: This paragraph provides general advice and is not exhaustive. Each financial situation is unique. Consult a professional for personalized advice. We are not responsible for the use of this information or the consequences that may result from it.

Banks That Accept Individuals Subject to a Banking Ban

For those subject to a banking ban, the option of a prepaid card like the Veritas card offers a practical alternative. Unlike traditional banks, which may be reluctant to open an account for individuals listed at the Banque de France, the Veritas card allows financial transactions without requiring a traditional bank account. It is an accessible solution, with no income conditions and no risk of overdraft, suited to daily needs like having a RIB and carrying out routine transactions.

The Suitable Card for Those Subject to a Banking Ban: Veritas Card

A prepaid payment card is not linked to a traditional bank account. It operates on a top-up or recharge principle: the user must fund the card with money before they can use it for transactions, whether in stores, online, or to withdraw cash at an ATM. Prepaid cards are typically issued by specialized payment companies, not traditional banks.

The Veritas Mastercard® is perfectly suited for those subject to a banking ban. It is a prepaid Mastercard® payment card that offers users a flexible alternative to traditional bank accounts. It allows for financial transactions such as purchases in stores, online, and cash withdrawals at ATMs. With a rechargeable capacity and features like a dedicated RIB and compatibility with Google Pay and Apple Pay, it serves as an agile solution for those with a banking ban.

It does not require a bank account, allowing for independent use from traditional banks. With a simple and online registration process, it is accessible to any person over the age of 18 residing in the European Union or EFTA. The card, which can be recharged by cash, transfer, or other means, offers total control over spending, without the risk of overdraft. It ensures the confidentiality of transactions, an important point for those looking to maintain discretion in their financial dealings.

Benefits of Prepaid Cards for Those Subject to a Banking Ban

For those with a banking ban, prepaid payment cards offer several undeniable benefits:

Ease of Acquisition
As mentioned earlier, no credit check is needed to obtain a prepaid card. Those with a banking ban can therefore easily and quickly access them.
Budget Management
Prepaid cards allow effective budget management since one can only spend the money available on the card, thus avoiding overdrafts.
National and International Use
Prepaid cards are generally accepted in many stores and online shopping sites, and some even offer specific options for payments abroad (multi-currency).
Money Transfers
Prepaid cards also allow for money transfers to other cards or bank accounts, including internationally.
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