THE ECKERT LAW
Since January 1st, 2016, the Eckert law stipulates that, from now on,
after a period of ten years without any operation or contact from a
customer with their bank, the sums present in their inactive bank account
will be transferred to the Caisse des Dépôts et Consignations.
Important: you are not affected if you have made at least
one transaction on one of your accounts or if you have contacted INST MUTUEL
at least once in the last year. For this, a simple connection to your
INST MUTUEL Dashboard is sufficient.
In case of inactivity, INST MUTUEL will inform you at least once a year by
email of the observation of inactivity and the consequences of maintaining
inactivity over time.
Following this information and in the absence of any new movement or
contact from you, the account will be closed after ten years of inactivity
and the balance of the account will be transferred to the Caisse des
Dépôts et Consignations.
You will receive a letter six months before the effective closure.
However, the sums can then be claimed for twenty years
from the Caisse des Dépôts et Consignations by the affected
clients or their heirs.
DEPOSIT GUARANTEE AND RESOLUTION FUND (FGDR)
The Deposit Guarantee and Resolution Fund created by the law of June 25th,
1999 is responsible for protecting and compensating clients in the event of
their bank's failure.
The Deposit Guarantee covers deposit accounts and savings accounts
up to €100,000 (excluding State-guaranteed Savings accounts). The Securities
Guarantee covers all financial instruments up to €70,000.
The Guarantees of Guarantees cover regulatory guarantees
undertaken by professionals for their clients.
The FGDR can also intervene in crisis resolution before bankruptcy,
to avoid consequences for clients.
RIGHT TO AN ACCOUNT
Under articles L312-1 and R312-1 and S of the Monetary and Financial Code,
a bank may refuse to open an account for you.
Be aware that the bank that refused to open an account for you may offer
to act on your behalf and transmit your request free of charge to the Banque
de France to designate an establishment where an account will be opened for you.
