When settling in France, one must have an account to receive salary payments. You have the choice between joining a physical bank or a Neobank, or both. This article covers joining classic, physical banks, Neobanks and also the different options available to non-French people settling in France who may have trouble creating a traditional account.
Can foreigners open accounts in France?
Depending on your origin, both residents and non-residents originating from the EEA (European Economic Area) have the right to open an account with any bank in France. People from countries outside the EU do not have the automatic right to a bank account and opening one is more difficult. Some banks allow it, some do not.
Can I have a French account without a French residential address?
Technically, it’s possible but we don’t recommend it. Most French banks will require you to provide a utility bill no older than 3 months from your place of residence, or have an “Attestation d’Hébergement”, a document from the person hosting you, proving that you have a residence and are living in France.
If you do not have a French address, you might want to explore opening an account with a Neobank (like Haylei did, for example).
How much does it cost to get a bank account in France ?
Opening costs
For every bank, you’ll have to go through a process that is not free. However, you shouldn’t have to pay more than 50€ to open an account.
Annual charges
All banks apply annual fees to maintain your account. They largely vary depending on the type of account, type of card (gold, business, black…) that you’ll have and the associated options (like international transfers are more expensive…). Bear in mind that like for every product, cheap may mean poor quality of service.
The range is from 2€/year for Boursorama to 100€ for Crédit Coopératif but for some banks it’s even higher.
Withdrawing money at the ATM is free.
Agio
Every time your bank account goes in the red, make everything you can to bring it back in the green. Indeed, in France, having a red balance means that the bank “loans” you money. And they apply a f***ing high interest rate on that loan. Could be up to 4%.
If you want to prevent that, you can choose an option when you cannot have a deficit like the one offered with Neobanks, but most banks do offer them.
Is there a “best bank” to join in France?
Which bank you join depends entirely on your personal situation and financial needs. There are some safe options, such as the bank operated by the post office which has over 10 million users, or the bank started by farmers in 1984, Crédit Agricole, which is quite popular.
In France, there are three types of banks:
Regional Banks:
- Groupe BPCE
- Crédit Agricole (CA)
- Crédit Mutuel
- Crédit Lyonnais (LCL – owned by CA)
National Banks:
- BNP Paribas
- Crédit Industriel et Commercial (CIC)
- La Banque Postale
- Société Générale
- Groupe Caisse d’épargne
- Groupe Banque Populaire
International Banks:
- HSBC
- Barclays
- Deutsche Bank
- Citi Bank
The largest bank in France is BNP Paribas, followed by Crédit Agricole, Société Générale, BPCE and then Crédit Mutuel. The bank with the most customers is La Banque Postale. There is a website that helps compare bank costs, only in French for now, but it may be helpful. To use it efficiently you can download a translation plugin for your browser,
How do I open a French bank account?
Once you choose which bank you want to go with, check online if you can open your bank account from the internet or if you have to go in person. We list the process with the most common banks In our article about how to open a French Bank Account.
Is it difficult to open a French account and get quality client service?
It’s easier if they speak your language if you’re not proficient in French and if you have the required documents ready, but if you’d feel more secure being accompanied for this process, you can get in touch with us.
While most international banks have different language options, Crédit Agricole has an English-speaking hotline, and some regional branches of the Banque Populaire also offer English as an option for their customers. Depending on which documents you are asked for, it can be easy to open an account, or take a bit longer if you need to procure all necessary material.
Do I need a French bank account?
No, not necessarily. Depending on your origin, having an account, say, in Europe could be enough to make online payments and receive a salary. If you however are an overseas citizen it’s probably easier to open a French account, at least with an international bank. As a student it also can be easier to open an account, as universities usually offer fast-track options in collaboration with French banks.
If you wish to buy property or take out a loan with a French bank, you must have a French bank account.
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