Opening a bank account in France as a non-resident is possible… but it is very difficult.
In fact, the opening process can get very complicated if you don’t know which banks to target, don’t how to overcome French-specific non-resident banking hurdles, and don’t have the right account opening strategy.
In this article, we’re going to explore account opening options and how to navigate non-resident banking challenges.
As a bonus, we will also share alternative options you might want to consider instead, including other SEPA countries that are more accepting of non-residents.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Can I Open a Bank Account in France as a Non-Resident?
- Why Bank in France?
- Who Should Bank in France?
- What Benefits Do French Banks Offer?
- What Type of Bank Account Can I Open in France?
- Frequently Asked Questions
- Do You Want Help Opening Bank Accounts?
Can I Open a Bank Account in France as a Non-Resident?
Yes, you can open a bank account in France as a non-resident as long as you meet the bank’s account opening requirements, meet the deposit amounts, and have a suitable client profile. However, the process is more complicated than it is for local residents.
Alternatively, if you’re looking to open an account to access services such as the best digital nomad debit cards in Europe, you can get started with our free article linked here.
For non-residents looking to open a bank account in France, the process is more complicated than it is for local residents.
But we’re not just talking about the normal non-resident challenges that you would expect in other countries. Instead, individuals trying to open in France should prepare for the following:
- Extremely limited account opening options
- Only being offered restricted non-resident accounts
- Almost always requiring in-person account opening
- In most cases, proof of a French address is required
In other words, opening an account in France is not easy.
But, even if you can navigate these challenges, the headaches don’t stop once your account is actually opened…
Non-residents that bank in France commonly complain about the following:
- Never-ending document requests from compliance
- High fees compared to accounts elsewhere
- Poor customer service compared to other countries
- Bureaucracy. Lots and lots of bureaucracy
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Why Bank in France?
This is a very good question…
In most cases, we suggest that non-residents looking to open a bank account in France should first look elsewhere.
Of course, if you have a specific reason to bank in France, then by all means.
But, if all you require is an IBAN, SEPA transfer, or an EU bank account, there are more accessible options in much better banking hubs available.
This is also true if you’re looking for remote opening or an online bank account with a virtual debit card.
To this end, let’s take a look at who should actually consider banking in France.
Who Should Bank in France?
In most cases, there are five categories of “non-residents” who can realistically consider opening bank accounts in France:
- Frequent visitors to France
- People conducting business in France
- Owners of property in France
- Anyone getting paid by a French company
- French expats who still need a French bank account
In other words, non-residents interested in banking in France need to demonstrate a clear reason for wanting to bank in the country. This is important for a few reasons, not the least of which is that banks will look for clear proof that you actually have a need for a French bank account. It sounds trivial, but it matters.
Let’s look at each of these in more detail.
Frequent Visitors to France
If you are a frequent visitor to France, you may want to bank in the country to make it easier to access your money while you are there. This is especially true if you don’t have a bank account in your home country that allows you to easily withdraw money while abroad or charges high foreign exchange fees.
People Conducting Business in France
Having a French bank account also makes sense if you are doing business in France. This makes it easier to manage finances and get paid by clients or local customers. Of course, if you are operating a business that primarily relies on online payments, this may not be a requirement, as long as you can secure euro-denominated payment processing.
Owners of Property in France
If you own property in France, you will most likely need a French bank account to manage your finances. It’s often a necessity when paying for basic services like utilities, insurance, repairs, and related taxes. It may also be required to receive payment from tenants if it is an income-generating property.
Anyone Getting Paid by a French Company
If you are a contractor or foreign employee for a French company, you may be required to open a bank account in France to receive payments. If this is the case, you should ask the French company to assist you with opening an account, including providing all of the necessary documentation.
French Expats Who Still Need a French Bank Account
If you are a French expat living overseas, it’s possible that you may need an account in France in order to meet local obligations or to receive payments from local pensions, investment properties, etc. If at all possible, you should aim to keep your existing accounts opened before leaving France as this will alleviate challenges with opening later on. Of course, it’s important to check your bank’s policies around doing this as it may result in your account being closed or frozen.
What Benefits Do French Banks Offer?
French banks offer a range of services to non-residents, including:
- Access to SEPA transfers and a dedicated IBAN
- A debit card that you can use to make purchases in-store or online
- The ability to set up direct debits and standing orders
What Type of Bank Account Can I Open in France?
There are a few different types of bank accounts that you can open in France as a non-resident. However, most non-residents open a compte non-resident, designed specifically to cater to the needs of non-resident clients.
Frequently Asked Questions
Below are three of the most common questions that we receive from people looking to open a bank account in France as a non-resident. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Can a Foreigner Open a Bank Account in France?
Yes, a foreigner can open a bank account in France. However, it is important to choose a bank that accepts foreign non-resident clients and the specific documents you have available. In most cases, non-residents are required to provide additional documents and clearly demonstrate a need for the account.
Can I Set Up a French Bank Account Online?
Yes, it is possible to open an account online in France. However, this can be more challenging for non-residents. In fact, in most cases, to complete the online onboarding process with a French bank, most applicants will need to first visit a physical branch.
What Type of Bank Can I Open With in France?
There are three types of banks in France: major national banks, foreign banks, and cooperative banks. Most non-residents looking to open in France, apply for accounts with national banks or foreign banks, taking advantage of accounts and services designed for non-residents.
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And “yes!” GlobalBanks Insider is designed to help foreign and non-resident individuals and companies open bank accounts.
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