Groupe Credit Mutuel-CIC International Transfers & Exchange Rates
It’s known as a cooperative bank with more than 30 million customers. They offer a range of financial services, which includes private banking, corporate banking and insurance.
About Groupe Credit Mutuel-CIC
Groupe Credit Mutuel-CIC has its headquarters in Strasbourg, France and was founded in 1882. It’s one of the oldest banks in France and has over 82,000 employees around the world.
Exchange Rates
Exchange rates can result in huge fees, so try to avoid currency conversions when sending money. The exchange rates at Groupe Credit Mutuel-CIC are higher than what you will find at 3rd party services. Therefore, if you would like to save money on frequent currency conversions it makes sense to take advantage of cheaper alternatives.
Transfer Fees
You will not incur a charge when receiving money to your Groupe Credit Mutuel-CIC bank account. However, there are fees for spending money domestically and internationally. The fees are higher if you wish to increase the speed of transfer. Furthermore, you may get charged additional fees depending on where you are sending the money.
Additional Costs
Other costs you will have to pay include getting a bank card and monthly account management fees. However, you get a free bank statement sent to your inbox anywhere in the world, which is a good alternative to using the postal service. You can also use their insurance services to protect mobile theft.
How Do Groupe Credit Mutuel-CIC Transfer Fees Compare to Using a Money Transfer Provider?
The fees at Groupe Credit Mutuel-CIC are higher than what you’ll find when using a 3rd party service. It doesn’t matter if you are sending a small or large sum of money, huge savings can be made by using a 3rd party alternative.
Groupe Credit Mutuel-CIC Pros and Cons
Pros
Cons
Groupe Credit Mutuel-CIC Swift Codes
| Bank | Country | City |
|---|---|---|
| Credit Mutuel Cic Banques | France | Bordeaux |
| Credit Mutuel Cic Banques | France | Corbas |
| Credit Mutuel Cic Banques | France | Lille |
| Credit Mutuel Cic Banques | France | Lyon |
| Credit Mutuel Cic Banques | France | Paris |
| Credit Mutuel Cic Banques | France | Strasbourg |
| Credit Mutuel Cic Banques | France | Villeneuve Dascq |
How to Open an Account and Transfer Money With Groupe Credit Mutuel-CIC on the Website
Step 1: navigate to this page and read the information about opening an account.
Step 2: create an appointment at the nearest branch, which can only be found in France at the moment.
Step 3: make sure to bring a valid Photo ID and proof of address.
Transferring Money
You can send money by logging into your account on the website or using the mobile app. Make sure to have the recipient’s name and IBAN number to send money. You’ll also need a SWIFT code and the recipient’s bank address when sending money internationally.
Can I Use Groupe Credit Mutuel-CIC for International Bank Transfers?
It is possible to send money internationally with Groupe Credit Mutuel-CIC. Using the SWIFT code is required to make use of correspondent banks, which is a secure way of sending money.
When receiving money you’ll need to use the SWIFT code CMCIFRPAXXX and bank address CREDIT MUTUEL - CIC BANQUES, 6 AVENUE DE PROVENCE, PARIS, France.
Additional Information
Headquarters in Strasbourg
82,000 employees
17.5EUR billion revenue in 2018
Nicolas Thery is the CEO
Summary
Groupe Credit Mutuel-CIC is a viable choice to send and receive money. It has a good mobile app and is one of the most trusted French banks. It also offers a range of insurance products if you are looking for those services.
However, the transfer fees and exchange rates can be expensive. You can save money by using a 3rd party service such as Western Union and Xoom. They are trusted services that deliver money quickly to their destination.
