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Any natural or legal person has the right to open a deposit account (Article L312-1 of the French Monetary and Financial Code), which may be an individual, joint or undivided account:
- an individual account is a personal account opened in the name of one person only;
- a joint account is opened in the names of at least two people. Each account holder may manage the account independently;
- an undivided account is opened in the names of at least two people. Except in specific circumstances, the agreement of both account holders is required to operate the account.
Spouses’ powers and obligations in relation to individual bank accounts
This may be a deposit account (bank accounts, savings accounts and term accounts) or a securities account.
Each spouse may open a bank account:
• Without the consent of the other spouse (French Civil Code, Art. 221);
• In their sole name (birth name, married name, or both names combined. However, the name chosen must correspond to the name appearing on the identity document);
• Only their signature is registered with the bank;
• Regardless of their matrimonial property regime: separation of property, statutory community property, etc.
Each spouse manages their bank account independently:
• They may carry out all transactions on the account (opening the account, depositing or withdrawing funds, authorising direct debits, etc.). Such transactions may only be carried out by the other spouse if they have been granted power of attorney.
• In relation to the bank, they are deemed to have free disposal of the funds and securities.
Practical aspects of operating the account:
• A wife may deposit into her personal account the amount of a cheque made out to both spouses and endorsed by each of them (Cass. com., 21 November 2000, No. 97-18.187);
• The bank may only return funds deposited in an account to the sole account holder;
• The bank may not authorise direct debits or transfers set up by the spouse who is not the account holder on the other spouse’s account.
Spouses’ powers and obligations in relation to joint (or common) bank accounts
A joint account is an account opened in the names of both spouses (Mr or Mrs), but each spouse is authorised to operate it with their signature alone and may withdraw the account balance, issue cheques, make withdrawals, etc.
However, if a spouse married under a separation of property regime (or their heirs) demonstrates by any means that the sums held in the joint account belong to them personally, they may request their restitution (Cass. 1st Civ., 13 February 2019, No. 18-13.762).
Each spouse is jointly and severally liable to the bank for repayment of the debit balance of the account, even if the debt arose from the actions of only one of them.
Spouses’ powers and obligations in relation to undivided bank accounts
An undivided account is an account opened in the names of both spouses (Mr and Mrs) and requires the approval of both spouses for any transaction (opening the account, depositing or withdrawing funds, authorising direct debits, etc.).
However, the spouses may grant each other a reciprocal mandate, allowing each of them to operate the account without having to obtain the other’s signature.
Furthermore, payments relating to acts necessary for the preservation of undivided property may be made at the initiative of a single account holder (French Civil Code, Art. 815-2), such as the payment of an insurance contract.
Specific situations affecting spouses’ powers over deposit or securities accounts
Spouses’ powers over individual, joint or undivided bank accounts may be modified in certain specific situations, in particular:
• A spouse has granted a mandate to the other spouse or to a third party in relation to their personal bank account (French Civil Code, Art. 218);
• One spouse is unable to express their wishes. The other spouse may then obtain judicial authorisation to represent them (French Civil Code, Art. 219);
• A spouse is subject to a protective measure (guardianship, curatorship, family authorisation).