Opening a bank account in France as a foreigner: all you need to know

France is a popular destination for expats from all over the world. The country is known for its diversity and international environment. But how easy is it to move to France and settle in? Being accepted into the system and dealing with bureaucratic procedures is always a part of the deal when relocating to a new country. People often joke about French bureaucracy being one of the most difficult to navigate. For some, opening a bank account, let alone opening a bank account in France for non-residents, can feel daunting. But worry not! We have prepared an insightful guide that will help you take control of the process and enjoy a straightforward experience.

Stay tuned if you’d like to know how to open a bank account in France. We’ll share our tips and walk you through the requirements for residents and non-residents. You will also learn about how to open a French bank account online. Keep reading, and we promise that by the time you’re done, you’ll be able to open a bank account in France stress-free.

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How to choose a bank

Seven hundred sixty-nine entities were operating in France in 2021. It is a massive number; understandably, making a choice can be pretty overwhelming. If you’re looking to open a bank account in France for non-residents, it is essential to do your research, as not all French banks provide this option. Typically, non-residents can open current accounts or a Livret A. You can read about these types of accounts later in the article.

Aside from accessibility, you should consider potential charges, such as monthly service commissions and ATM fees. They may vary depending on the region and branch. Luckily, the French government launched a website where you can check all the information on fees you need to make an informed decision.

Learn to manage your budget by reading our article.

Another essential point to be aware of is the language barrier. Bigger banks in large cities tend to be more open towards international customers and may have English-speaking staff. Opt for larger international banks such as:

• HSBC,

• BNP Paribas.

• LCL,

• Société Générale,

• Crédit Agricole (popular among British citizens).

Banking in France. Bank account types

Before you open a bank account in France, you need to choose an account type that would fit your needs. Although there are various options available, we’ll cover the most common and relevant ones:

• Current account (compte courant). A current account is the most basic one in France and is the one you most likely will need. It offers everyday banking services. You'll be able to make deposits, withdrawals, and payments using a debit card.

• General savings account (Livret). This type of account allows you to save money and transfer between this account and your current account. There are different savings accounts. For example, Livret A is tax-free and requires no residence.

How to open a French bank account as a resident

It is much easier to open a bank account in France if you hold a residency. In other words, if you're a tax resident. You must either live in France permanently, have your main financial activities there, or spend more than 183 days a year in France (which means you must register for tax in France). This applies to people on long-stay visas and those working or studying in France with residency rights.

The requirements may vary from bank to bank. However, these are some documents French banks commonly ask foreigners to submit:

• Proof of identity. It could be your passport, ID or driver’s licence;

• Evidence of your French address. You can usually prove it by submitting your rental contract or utility bill;

• Proof of your visa status

You might also need to do other things to open a bank account in France. For instance, a bank may ask you to provide documents officially translated into French in case yours are in another language. On top of that, some banks may require evidence of your employment or financial history. So, always check in with your bank first — it is the number one rule when answering how to open a bank account in France or virtually anywhere else.

Opening a bank account in France for non-residents. Everything you need to know

Unfortunately, owning a house in the country or regularly visiting France doesn't qualify you to be a resident and, hence, to get a resident bank account. That’s why many can relate to the issue of opening a French bank account for non-residents.

A non-resident account, also known as a "compte non-résident," is similar to a regular current account (or "compte courant") but with some key differences. Firstly, the eligibility criteria for opening a bank account in France for non-residents are usually stricter compared to a resident account. You'll likely need extra documents. Each application gets reviewed individually.

Additionally, fees for opening a French bank account for non-residents and maintaining it are typically higher, and there are often more restrictions. For instance, you may need to always maintain a minimum balance in your account. There are often stricter limits on monthly transfers, bank card payments, and cash withdrawals, with higher fees overall. Non-resident accounts usually don't offer options like overdrafts or credit cards.

Read our article on the cost of living in France.

There is no fixed list of document requirements for opening a bank account in France for non-residents. We recommend contacting the bank of choice for more information. However, here are some essential papers you will most likely need to submit:

• Your passport or ID
• Proof of address (in your home country)
• Current bank details (in your home country)
• Marriage certificate (if married)
• Proof of income: recent payslips or tax notices (last three months or more for self-employed), employment contract, or business/self-employed details
• The tree most recent bank statements
• Foreign tax identification number

You can open a bank account in France for non-residents with several banks. Here are some popular choices:

• BNP Paribas
• HSBC France

Online bank account: France. An alternative bank account in France for non-residents

Banking worldwide is experiencing an extensive digital transformation, with more and more online banks appearing on the financial scene every year. An online bank is definitely worth a try if you like convenience, lower fees, higher interest rates, and accessibility. Unlike a classical bank, you can use a digital bank’s services 24/7. Here are some options worth your attention if you’re looking to open a French bank account for non-residents:

Each of these banks caters to the specific needs of non-residents. Open a French bank account online to experience a range of services and features without leaving the house.

Some final thoughts

As you can see, you need some preparation to open a bank account in France. However, it's easier than some might think. When having a French residence permit and living in France, bank account opening procedure is typically relatively straightforward. But even if you are not a French resident, we hope that with everything we covered today, you will know how to open a French bank account.

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Select where, what currency, and the amount you’re sending; Complete a fast registration process; Enter your transfer details and pick a payment method; That’s it! Enjoy a smooth remittance experience. Transfer money from France to treat your loved ones with Profee.