Crédit du Nord International Transfers & Exchange Rates

Crédit du Nord was an independent bank when it was founded in the mid-1800s. It started with the objective to provide economic assistance to their clients. Throughout the years, it continued to provide regionalized banking needs within France until its merger with Société Générale in 1997.

About Crédit du Nord

Their forefront mixed with the Société Générale in providing their clients economic assistance. On top of that, it allowed Crédit du Nord to focus on supporting local French suppliers, partners, and regional companies. Until today, it values the well-being of its territories, the included regions of France proximal to their location, when it comes to financing their initiatives and taking care of their environment. Their employees' diversity became a part of their values despite having their origins only from France.

Also known as Groupe Crédit du Nord, Crédit du Nord consists of eight other banks and is a part of a multi-French international investment bank and financial services under Société Générale, and remains to be one of the best banks in France.

Crédit du Nord’s Exchange Rates and Fees

As part of a huge multinational bank, Crédit du Nord keeps its own exchange rates and international money fees. This is made to accommodate the needs of their clients from France and abroad.

Exchange Rate

Unfortunately, the website of Crédit du Nord contains no information about their exchange rates. Instead, they encourage their clients to proceed to their banks or consult their advisers to fulfill these inquiries.

Transfer Fees

Crédit du Nord offers three options for Single Euro Payments Area (SEPA) money transfers: (1) through the Internet, (2) by telephone, and (3) by paper. Countries included in the SEPA offer must be part of the European Economic Area (EEA). For option (1) through the Internet, an “ordinary” transfer is free, but an “instant” transfer incurs 0.50 EUR. The difference between the two Internet choices lacks any explanation from the bank’s website.

Money transfers done (2) by telephone incurs 3.00 EUR, while transfers (3) by paper incurs 8.00 EUR. Transfers between internal accounts are free. If the client opts for a “permanent SEPA transfer”, as opposed to a “one-time SEPA transfer”, an internal SEPA transfer will cost 1.60 EUR.

Non-SEPA transfers, which mostly include other countries outside France and Europe, incur a fee of 14.50 EUR for international transfers of less than 12,500 EUR. International transactions more than the given amount require talking with a Crédit du Nord adviser in order to proceed and determine the transfer fees.

How Do the Crédit du Nord’s Transfer Fees Compare to Using a Money Transfer Provider?

For international money transfers, Crédit du Nord transfer fees remain fixed at 14.50 EUR as long as the total money transferred is less than 12,500 EUR. If a client chooses other services, such as Wise, Remitly, or WorldRemit — some of the widely used international money transfer instruments from France — they would need to weigh more factors other than just the total amount.

For Wise, the client must consider three more things on top of the total money to be sent. They must also consider the location of the destination account, the currency of the transferred money, and the current market exchange rate. Wise also offers different types of money transfers. Ultimately, a 1000 EUR transfer may incur fewer fees than a Crédit du Nord international transfer fee (9.09 EUR transfer fee for sending 1000 EUR to a USD account), but it will cost way more fees with a 10,000 EUR transfer than a Crédit du Nord international transfer fee (82.44 EUR transfer fee for sending 10,000 EUR to a USD account). The same factors are considered when using WorldRemit, so the client must first check their app the fees for a more accurate comparison with the Crédit du Nord transfer fees.

For Remitly, it may cost less as they do not change the number of fees paid based on the total amount sent, but the destination of the country dramatically changes the transfer fee, which can exceed Crédit du Nord’s transfer fees. They also do not offer international transfers to the United States from France.

Crédit du Nord Pros and Cons

While most of the banking needs of the Crédit du Nord clients are met through face-to-face branch interaction, they can also opt for a smoother and more convenient banking experience through their remote services.

Crédit du Nord offers various services through remote and physical banking. International money transfers take more effort to set up for the first few tries, but their fixed rate of fees might be enough to make consistent transactions with the bank.

Crédit du Nord Swift Codes

How to Open an Account and Transfer Money With the Crédit du Nord

Opening accounts with Crédit du Nord require setting an appointment with any of their branches. The documents required in opening an account include identification (national identity card, passport, residence permit), proof of address (telephone, gas, or electricity bill), and proof of income (employment contract or payslip). Minors must be accompanied by their legal guardian and their proof of status (“livret de famille”, ID card, or birth certificate). Unfortunately, there is no option for remote opening of a Crédit du Nord account.

Transferring money can be done in three ways: (1) through the Internet, (2) by telephone, and (3) by paper. For doing it through the Internet, transactions with SEPA accounts can range from free to 0.50 EUR per transaction. Transactions by telephone cost 3.00 EUR, and 8.00 EUR by paper. Individuals are limited to a 2400 EUR transfer limit, while businesses can send up to 15,000 EUR.

International money transfers can also be done through their website, but the recipient account must first be registered with an Account Officer. Physical banking also allows international money transfers. International transfer fees cost 14.50 EUR for a total amount sent under 12,500 EUR.

Opening an Account

There is only one way to open an account with Crédit du Nord. An appointment must first be set with any of their branches in order to open an account. Once an appointment has been made, the client must hold the required documents for account opening. These documents include identification (national identity card, passport, residence permit), proof of address (telephone, gas, or electricity bill), and proof of income (employment contract or payslip). Minors interested in account opening must be accompanied by a legal guardian with their proof of status (“livret de famille”, ID card, or birth certificate).

Transferring Money

A client can explore three options for local money transfers: (1) through the Internet, (2) by phone, and (3) by paper. All of these transfers instantly arrive in their recipient accounts. Internet transactions can be free or cost 0.50 EUR per transaction. Transactions by telephone cost 3.00 EUR, and 8.00 EUR by paper. Individuals are limited to a 2400 EUR transfer limit, while businesses can send up to 15,000 EUR.

Registration of the recipient account must first be done before a client successfully completes an international money transfer. This can be done by contacting an Account Officer of Crédit du Nord. Physical banking also allows international money transfers. International transfer fees cost 14.50 EUR for a total amount sent under 12,500 EUR.

Additional Information

Aside from addressing banking needs, Crédit du Nord also offers other services. These are mostly made to benefit small businesses and start-ups. They call this service Carré des Innovateurs made to provide them financial services and put them into a network of other professionals, which allows them to present their innovative ideas to different fields. It also helps them with the day-to-day management of banking operations.

Simplébo is another service Crédit du Nord provides for businesses. This is centered around helping businesses increase their online presence by creating a website for them within 7 days with reduced costs than when done independently. Businesses who opt for this can also avail help from an expert Crédit du Nord provides.

Other services, such as Expensya and Clic&Pay, creates centralized management of business transactions and expense reports and provides an e-commerce payment option, respectively.

Customer Service Details for Users of the Crédit du Nord

Most of the customer service concerns and inquiries can be addressed by visiting a branch. In order to see the closest branch, the Crédit du Nord website contains a branch locator. Their website also includes an address that can be reached. In the case that a client needs to remote contact the bank, the only option that is available is through the “contact us” page of the bank, where they will be asked for their email for further communication.

Summary

Crédit du Nord provides various banking services any person living in France would need. They promptly guide their clients first relying on their branch presence, and later transitioning to more accessibility with remote banking services. The bank encourages consultation with its advisors regarding first-time transactions and other services. Also, various bank cards are made available depending on the needs of the client, may it be more inclined to local or to international transactions. If a client or a group is interested in delving deep into business and entrepreneurship, Crédit du Nord provides different tools and assistance that allows for growth and sustainability.

For questions and inquiries, contacting Crédit du Nord through their “contact us” page allows communication with the bank. This is particularly helpful when an incoming client found no relevant information about a service of the bank that they want to avail themselves.

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