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Open a Bank Account in France

Open a Bank Account in France

Updated on Thursday 07th July 2016

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Open-a-bank-account-in-FranceFrance allows both local and foreign citizens to open bank accounts here. Also, there also several types of accounts one can set up, in accordance with their needs. The French banking system is a modern one allowing for certain transactions to be carried out online. With an impressive number of local banks operating even in the smallest villages of the country, France also accommodates foreign banks opening branch or representative offices here in order to accommodate the needs of both citizens and companies.

Requirements to open a French bank account

Depending on whether one is a French resident or not, the bank will ask for various documents in order to open a bank account. The following documents must be provided when establishing a bank account in France:

  • -          an ID card or valid passport for EU residents;
  • -          the residence visa for non-EU citizens;
  • -          an utility bill, rental contract or even a property deed as proof of address;
  • -          a payslip.

Some banks may also request the birth certificate or even references from other banks, if the applicant had other accounts. Also, foreign citizens may open a non-resident bank account if they do not have a residence permit.

Foreign investors opening companies in France are required to set up corporate bank accounts for the daily operations of the companies. Our lawyers in France can guide you through the procedure for setting up a corporate bank account here.

Services provided by banks in France

Depending on the type of account held, one can benefit from various services provided by the bank. The most popular type of French bank account is the current one (compte courant), but one may also open savings accounts. It is also important to know that in France spouses can open joint bank accounts in order to keep their savings together. The bank will usually issue a card upon the opening of the account and will also provide overdraft facilities to those interested. Bank statements are issued on a monthly basis for a better control over the money. Banks may also offer insurance and mortgage services for those buying properties in France.

If you want to move and set up a bank account here, you can request the services of our law firm in France. You can also contact us in you want to open a company in France.

 

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