Better understanding payment methods : Usage and Security
When purchasing goods and services, you can choose from a variety of payment methods. Whether you choose cash, a payment card, a cheque, a bank transfer or a direct debit, each option has its own features and specific security measures. The Institut d’Émission des Départements d’Outre-mer (IEDOM) is committed to providing you with the necessary information to help you use these methods safely and responsibly.
IEDOM provides guidance on each type of payment method. As part of its financial education initiatives, the institute also offers free training sessions on secure use of payment methods, identifying scams, managing your budget effectively. These sessions are available through the EDUCFI liaison officer at your local IEDOM office.
Click on one of the sections below to find out how to use your payment methods effectively and keep your financial transactions secure.
Coins and banknotes
IEDOM provides information on the use of euro cash, including circulation, payment limits and counterfeit prevention.
Bank card
Learn how to use your bank card securely with our practical tips and fraud protection measures.
Cheques
Cheques remain a preferred payment method for certain financial transactions. Discover our tips for using them properly and avoiding fraud.
Bank transfer & Direct debit
Best practices and advice for using bank transfers and direct debits effectively.
Tips in case of fraud or identity theft
Our advice to help you avoid the most common payment-related scams, and what to do if you become a victim.
Good to know
More information on payment methods
Our answers to your questions
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To verify the authenticity of a euro banknote, use the simple ‘FEEL – LOOK – TILT’ method.
• Feel : The banknote should feel firm and crisp, with raised print in certain areas.
• Look : Hold the note up to the light to check for the watermark and security thread.
• Tilt : Examine the features that change colour or show shimmering effects when the note is tilted.For more information on security features, visit the European central bank website.
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To exchange a damaged euro banknote, visit an IEDOM office
- If the banknote is genuine and more than 50% remains intact, you will receive an immediate replacement.
- If the banknote is severely damaged, it will require expert analysis. If it is deemed refundable, you will be reimbursed later via bank transfers.
You can find out more in the Banknote Exchange section of your local IEDOM office
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The limits for cash payments are set out in the Monetary and Financial Code:
- €1 ,000 for payments between a professional and an individual, or between professionals, provided that the payer is fiscally domiciled in France.
- €10,000 euros if the payer is not domiciled in France for tax purposes, is not acting for professional purposes and is paying a person who is not subject to anti-money laundering regulations.
- €15,000 euros when the payer is not domiciled in France for tax purposes, is not acting for professional purposes and is paying a person who is subject to anti-money laundering obligations.
These limits do not apply to payments between individuals, nor to persons without a bank account or under a banking ban.
Further information can be found in our Coins and banknotes section
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Merchants are required by law to accept euro coins and banknotes, which are legal tender, under penalty of a fine.
However :
- They may ask you to provide the exact amount.
- They are not required to accept more than 50 coins for a single transaction.
- Banknotes and coins must be in good condition.
More information is available in our Coins and banknotes section
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If your bank card is lost or stolen, act immediately.
Contact your bank’s card blocking service, which is available 24/7, to prevent any fraudulent use.
For additional protection, we also recommend filing a report with the police or gendarmerie.More information is available in our Bank Cards section
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If you notice any suspicious activity on your account, report it to your bank immediately to block the card.
If your card has been stolen, you should also file a police report.
Provided you have taken proper steps to secure your card, you will usually be reimbursed for the fraudulent amounts.More information is available in our Bank Card section .
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Indeed, If you issue a cheque without sufficient funds and fail to resolve the situation, your name will be added to the Central Cheque Register (FCC).
This ban will prevent you from issuing cheques from any of your accounts until the issue is resolved, and it may last up to 5 years. Your bank will notify you by a registered letter and you will be required to return all your cheque books.
More information is available in our Cheque section and the Payment incident resgister page. .
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Unlike cash, merchants are not required to accept cheques.
Accepting cheques is optional and they may refuse them. However, if they do so, they must inform customers by displaying visible signage (Article L.112-1 of the French Consumer Code).
More information in our Cheque section
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Once your bank has received the transfer order, it becomes irrevocable.
You can only cancel it if the transfer date is set for a future date.
For example, if today is the 26th and the transfer is scheduled for the 30th, you may cancel it by contacting your bank before the 29th (business day).If you believe the funds were sent to a fraudulent account, you can request a recall of the funds, but please note that recovery is not guaranteed.
The bank cannot be held responsible if the error stems from incorrect details that you provided, such as an incorrect IBAN.More information is available in our Transfer and Direct Debit section et notre page Scams and Identity Theft page.