Relax, banking in France isn't as complicated as you might think.
If you're used to managing your money in your home country, you will probably find many similarities. And the 1st step, opening a bank account, is actually very simple!
To open a bank account in France
It's an easy process but you'll save time if you come with the right documents on your 1st visit.
Here's your essential checklist:
- an official identity document or valid passport ,
- proof of your home address in France (for example, a telephone or electricity bill less than 3 months old) ,
- recent written proof of income (if you wish to domicile your revenues in France) ,
- a deposit to start your account.
You can ask our financial advisers for more details.
When you open a bank account in France, it's like a contract between you and your bank. Your bank must explain all the conditions in relation to your account (in particular, bank charges).
It's your financial adviser's job to recommend the offer that suits you best, and to give you a choice of options. So you can always feel well-informed and in control.
Cheques and overdraft facility
If you feel you may need an overdraft facility at some time, be sure to seek prior approval from your bank. In France, the banking laws are very strict about writing cheques without sufficient funds in your account. You risk not being able to write any further cheques for a period of 5 years.
Thankfully, it is very simple to pre-arrange an overdraft facility. Just ask your financial adviser.