Moving to France as an expat involves navigating French bureaucracy, and one of the first essential steps is opening a French bank account. Whether you’re settling in France long-term or just staying temporarily, understanding the banking system can help you manage money efficiently and avoid unnecessary fees.
In this guide, we’ll walk you through how to open a bank account in France, the best banks for expats, currency exchange tips, and how to avoid common banking fees.
Why Open a French Bank Account?
Having a French bank account is crucial for managing day-to-day life in France. Many essential services—such as renting an apartment, setting up utilities, and receiving your salary—require a local account.
Benefits of opening a French bank account include:
- Paying rent, bills, and taxes without international fees.
- Receiving salaries, pensions, or government benefits.
- Using a French debit or credit card for purchases.
- Setting up automatic payments for utilities, internet, and insurance.
- Avoiding costly foreign transaction fees.
If you plan to live, work, or study in France, having a French bank account is almost a necessity.
How to Open a Bank Account in France
Opening a French bank account involves paperwork, but the process is relatively straightforward if you prepare in advance.
Types of French Bank Accounts
- Compte Courant (Current Account) – Used for daily transactions like salary deposits, rent, and bills.
- Compte Épargne (Savings Account) – Offers interest on deposits, including tax-free options like Livret A.
- Non-Resident Account – Available for those living outside France but needing a French account for transactions.
Required Documents
To open a French bank account, you typically need:
- Passport or national ID (for EU citizens).
- Proof of residency (utility bill, rental agreement, or tax document).
- Employment contract or proof of income (for salaried workers).
- Student ID or proof of enrolment (for students).
- RIB (Relevé d'Identité Bancaire) – A French bank account identification document used for transactions.
Some banks may also request a visa or residency permit if you are a non-EU citizen.
Best Banks in France for Expats
Several banks cater to expats and foreigners by offering English-speaking support and simplified account opening procedures.
Traditional French Banks
These banks have physical branches and offer in-person support:
- BNP Paribas – One of France’s largest banks with global partnerships, making international transfers easier.
- Société Générale – Offers student-friendly accounts and services for professionals.
- Crédit Agricole – Has a “Britline” service tailored for English-speaking expats.
- La Banque Postale – A good choice for affordable banking services, available at post offices nationwide.
Online & Mobile Banks (Best for Expats)
If you prefer low fees and digital convenience, consider online banks:
- N26 – A German-based mobile bank with a French IBAN and no hidden fees.
- Revolut – Great for international money transfers and currency exchange.
- Wise – This online bank seems to be the most popular options amongst expats.
- Monabanq – Allows non-residents to open accounts with ease.
- Hello Bank! – A digital banking service from BNP Paribas with full French banking features.
Tip: Online banks usually have lower fees and faster account setup, but they may lack physical branches for in-person support.
Managing Your Money in France
Understanding French Bank Fees
French banks charge various fees, which can be surprising for newcomers. Here’s what to watch for:
| Type of fee | Typical costs | How to avoid it |
|---|---|---|
| Account maintenance | 2-10 € per month | Choose an online bank with no monthly fees. |
| ATM Withdrawals | Free at your bank's ATMs, 1–3 € elsewhere | Use your bank’s ATMs or an account with free withdrawals. |
| International transfers | 10-50 € per transaction | Use Revolut, Wise, or N26 for cheaper transfers. |
| Overdrafts fees | 5-20 € per transaction | Monitor your balance to avoid overdrafts. |
Some banks offer “packaged accounts” with bundled services for a fixed fee, which may be worth considering if you need insurance or extra benefits.
Avoiding Hidden Banking Fees in France
- Use Online & Mobile Banks – Digital banks like N26, Revolut, and Monabanq have low or no monthly fees.
- Withdraw Money Wisely – Avoid ATM fees by using your bank’s ATMs or free withdrawal offers.
- Choose the Right International Transfer Service – Instead of using a bank for currency exchange, use a foreign currency broker or services like Wise and Revolut
- Check for Account Maintenance Fees – Some banks charge monthly fees if you don’t maintain a minimum balance.
Sending and Receiving Money from Abroad
If you need to send or receive money internationally, French banks often charge high fees and offer poor exchange rates. Instead of using traditional banks, expats can save money by using specialised money transfer services like Revolut and Wise, or working with a foreign currency broker for larger transactions.
Best Alternatives to Bank Transfers
- Wise (formerly TransferWise) – Wise offers low-cost transfers using the real exchange rate, with no hidden fees. It’s great for one-time transfers and sending smaller amounts efficiently. It seems to be the most popular options amongst expats.
- Revolut – Ideal for frequent transactions and everyday spending in different currencies. Revolut provides free currency exchange (up to a certain limit), making it perfect for expats managing money across borders.
- Foreign Currency Brokers – When sending large sums, a currency broker can offer personalised support, competitive exchange rates, and a sense of security. Unlike online platforms, you can speak directly with a specialist who understands the market and can advise you on the best time to transfer your money.
For expats receiving money from abroad, ensure your French bank account allows SEPA transfers, which are free within the EU. By choosing the right money transfer solution, you can save on fees and get the best exchange rates, whether you're sending small payments or transferring large sums for major purchases.
Frequently Asked Questions (FAQ)
Can I open a French bank account as a non-resident?
Yes, some banks like BNP Paribas and HSBC offer non-resident accounts, but requirements vary. Online banks like N26 and Revolut also provide French IBANs without residency proof.
How long does it take to open a bank account in France?
It usually takes a few days to a few weeks, depending on the bank and whether you apply in-person or online. Digital banks offer faster approval.
Do I need a French address to open a bank account?
Most traditional banks require proof of address, but some online banks (e.g., Revolut, N26) allow non-resident accounts.
Which bank is best for expats in France?
If you need English-speaking support and international banking services, consider BNP Paribas, Société Générale, or HSBC. For low fees and convenience, N26 or Revolut are excellent choices.
Are French bank fees higher than in other countries?
Yes, many traditional French banks charge maintenance and transaction fees. However, online banks offer low-cost or free banking options.
Final Thoughts: Choosing the Best Banking Option in France
For expats, choosing the right French bank account depends on:
- Your banking needs (salary payments, international transfers, etc.).
- Fee structure (avoid high monthly fees and ATM charges).
- Ease of account setup (some banks require more paperwork).
If you prefer low fees and digital convenience, online banks like N26 and Revolut are the best choices. However, if you need a local branch and full banking services, go with BNP Paribas or Société Générale. By understanding the French banking system, managing fees wisely, and using the right financial tools, expats can save money and enjoy a hassle-free banking experience in France.