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  French banking

Setting up a bank account

You can set up a bank account provided you have a residential address. The first important point to consider when opening your current account is to decide whether it would be more appropriate for you to have a resident or a non-resident account (known as a compte résident or compte non résident). Each situation must be dealt with individually as it may be more tax efficient for you to hold a non-resident account.

As soon as your account is open you will be given a RIB, or relevé d'identité bancaire. This is a banking identity slip with details of your account number and sort code. This can be used when setting up standing orders, organizing direct debits (to pay your telephone and electricity bills, as well as the monthly rent), or simply arranging for a payment to be made to your account.

chequebooks

You can use your chequebook everywhere in France without a cheque guarantee card. Your passport may be required as proof of identity when writing a cheque. Once a cheque is issued, it can only be cancelled if it is lost. Cheques are free of charge.

Credit cards  

The French credit cards (carte bancaire or carte de crédit) have a subscription fee. They serve as a convenient method of payment from your checking account. The carte bancaire is also used as a service card to withdraw money from any cash machine throughout the country, up to the balance available on your account and with a maximum weekly limit. The bank will supply you with a card and a pin number to enable you to use these facilities.

A Visa or Eurocard gives you the option of payment either by direct debit immediately, or by deferred payment at the end of the month. You can use these cards for domestic and international purposes. The bill is settled by direct debit from your current account, and no further credit is available.

The major french banks

The principal French banks with branches throughout France are Crédit Agricole, Société Générale, Banque Nationale de Paris (BNP) and Crédit Lyonnais.

Banks particularity suitable for expatriates

Several banks offer extremely personalized banking service for expatriates : Citibank, Barclays, Lloyds, Midland Bank, The Bank of America, Chase Manhattan Bank, Banque Transatlantique and specific branches of the major Banks.