FDJ privatisation

[Tom]

Has anyone been tempted to think about buying shares in FDJ, the French government's Loto monopoly, which is being privatised today?

Looking back to EDF, another ex government monopoly, whose shares were launched at €32 in 2006 and which are now worth about €9, past history isn't very encouraging. However, the return on conventional savings is so pitiful it doesn't even keep pace with inflation.

Worth a gamble or best avoided?

[niemeyjt]

I think France Telecom / Orange are also worth a fraction of their launch price.

As for FDJ - I missed the information so not sure. But let's face it, the Canadian Teacher's Pension Fund owns Camelot the UK operator - so there is precedence.

[Hal]

I also missed this. But not tempted. My take on French organisations is that they are just too entrenched in the status quo. Whereas the likes of Camelot are always looking at new business ideas with a view to their shareholders and therefore a better bet.

Example of the status quo is my latest argument with banks. I changed bank the other day so my new card had a new PIN. Now in the UK and New York (I think Germany also) you can go to an ATM and change your PIN. Not here. Asking for a reason it is mostly a Gallic shrug, but the one or two who have been trained that dialogue is good, say it is for security! No, it is not, it is because they will not look beyond their own shores to see what customers want!

On this note - might anyone know of a French bank where one can change the PIN on a card??

[rabbit]

Re the PIN change - no my bank doesn’t allow me to change it. Something else that annoys me is the rolling 4week limit of 3k on debit card. I know it’s to limit their exposure but it is pushing customers to use cheques for large value purchases. That’s archaic

[Le Démerdeur]

No, and I have been through a lot of them Hal.

[Hal]

That’s archaic

Your powers of observation are acute

[south_bound]

On this note - might anyone know of a French bank where one can change the PIN on a card??

ING asks you to chose your own PIN on their internet banking page when the card arrives.

[Hal]

Hey, thanks for that! Nice one!
I will check it out and might just be able to send HSBC their marching orders!

[Spardo]

Re the PIN change - no my bank doesn’t allow me to change it. Something else that annoys me is the rolling 4week limit of 3k on debit card. I know it’s to limit their exposure but it is pushing customers to use cheques for large value purchases. That’s archaic

I fell foul of that a few years ago. My long distance car was off the road for servicing and PAD had an urgent dog delivery, so they asked me to hire a car at their expense and do the job.

I went to Super U and they demanded a large deposit. I offered my French debit card. Then I had to pay the hire cost and offered the same card again. It was refused, so I had to reluctantly use my UK credit card instead and subsequently also for all the fuel required on the journey. This blighted my journeys for several weeks which came at a cost in money as well as inconvenience.

Of course, if I had known about this, I should have offered my UK credit card for the deposit and the French debit card for the hire because the UK credit card would have come nowhere near any limit and in any case would not have been put through as long as there was no damage. Lesson learned. Also learned, I will take a cheque book with me if I ever do such a thing again.

[Hal]

On this note - might anyone know of a French bank where one can change the PIN on a card??

ING asks you to chose your own PIN on their internet banking page when the card arrives.

Yep, just called them to confirm, and as a bonus, he tells me that one can temporarily block one's debit card on the app if you think it is compromised and unblock it with a new PIN. So, someone in France has dragged themselves into the 21st century at last!

Oh, and they give me 80€ if I open an account before Tuesday...