France attracts many foreigners as a popular destination for travelling and studying. Before settling in, it is crucial to get a bank account in order to pay rent, tuition fees and daily expenses.

Types of Bank Accounts in France

French banks typically offer various types of accounts, ranging from basic checking accounts to premium packages with debit cards and additional services. These accounts often come with monthly fees based on usage and services provided, making it crucial to choose one that suits your needs.

Documents Required to Open a Bank Account in France

Opening a bank account in France generally requires the following documents:

• Identification (passport)
• French visa or residence permit
• Proof of address in France (validity may vary among banks, some accept within three months, others within a year)
• Proof of employment or student status, and tax certification (if applicable)
• Signature specimen

Some banks may require certified translations of these documents into French, which can be obtained from notary offices.

Can Foreigners Open A Bank Account in France?

According to French law, individuals with French citizenship or legal residence within the European Economic Area (EEA) are eligible to apply for a French bank account. If a bank rejects your application, they must issue a "refusal certificate." You can then contact Banque De France to designate a bank that will open a free basic bank account for you.

Bank Account Opening Process in France

The process to open a bank account in France includes:

• Branch Opening: Visit the bank's website, select the desired account type, and fill out a pre-opening form. Bring complete opening documents to a branch, receive an IBAN number upon successful account creation, and receive a debit card subsequently.
• Online Opening: Choose an account type on the bank's website, fill out an online application form, and electronically sign the agreement. Upload identification, proof of address, and signature specimen. After bank verification, you'll receive an IBAN for the new account and may need to transfer a specified amount from another EEA bank account to activate it. The debit card will be sent afterward.

Although the law grants you "account rights," as a foreigner newly arrived in France, opening a bank account may pose challenges. Most banks require you to visit a branch in person if you do not have an existing EEA bank account, and language barriers can further complicate the process. If possible, it's advisable to visit branches in major city centers where bank staff may speak English and assist with account opening.

Main Bank Accounts in France

Crédit Agricole CA

Crédit Agricole CA is the second-largest bank in France, consisting of 39 regional banks serving over 10 million clients. While primarily in French, their website offers a variety of account types. Opening an account online requires holding another EEA bank account and transferring 20 euros to activate the new account.

• PREMIUM Account: Monthly fee of 16 EUR, includes Mastercard Gold or Visa Premier, with benefits like fee-free global transactions and everyday insurance.
• ESSENTIEL Account: Monthly fee of 10 EUR, includes Mastercard Standard or Visa Classic, with benefits such as fee-free euro transactions within the EEA and travel insurance.

BNP Paribas

BNP Paribas is one of France's largest banks, operating in 72 countries/regions globally. While their website offers an English interface, some account details are only available on the French version. Opening an account online requires holding an EEA bank account and transferring 50 euros to activate the new account.

• ESPRIT LIBRE DÉCOUVERTE Account: For 16 to 17-year-olds, free of charge.
• ESPRIT LIBRE INITIATIVE Account: For 18 to 24-year-olds, starting from 1.95 EUR per month depending on the debit card chosen.
• ESPRIT LIBRE RÉFÉRENCE Account: For individuals aged 25 and above, starting from 6.76 EUR per month depending on the debit card chosen.

Société Générale SG

Société Générale SG is one of France's three banking giants, with over 1,000 branches across ten regions nationwide. Their website is in French but offers online account opening without requiring another bank account.

• Sobrio Account: Monthly fee starting from 3 EUR, includes varying degrees of travel insurance and fee-free withdrawals.
• Kapsul Account: Monthly fee of only 2 EUR, includes VISA Kapsul debit card and travel insurance.

These banks offer diverse account packages tailored to different age groups and financial situations. Applicants can choose the most suitable bank and account type based on personal needs and preferences.