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Open a bank account in France – Absolutely French

26 septembre 2020


Opening a bank account in France can be useful to manage your money, but also to find a job.

Through this article, we will guide you to choose what best suits you: online? With an agency?

Choosing the right bank

banking account

To choose your bank, you can use a bank comparator like this one (https://www.lesfurets.com/banque).

Open a bank account online

The advantages of online banking

In general, people turn to online banking for their ease of access, but also for the much lower fees compared to physical banks. Advisors are often available during longer hours, and there is no need to go to a branch, you can contact them directly from home.

Often, when you open an account with an online bank, you will receive an amount ranging from 80 to 130 euros. If you want to open a savings account, you will benefit from the best rates!

The disadvantages of online banking

Please note that many online banks require a minimum income to obtain a card (1200 euros minimum). Depositing cash is often impossible, as is depositing a cheque, which must be sent by post.

How do I open an account in an online bank?

To open an online bank, you need to determine the services you need.

Do you need an individual account? A joint account? What type of credit card do you need?

In general, you will have to fill in an online form and then validate your account opening request with a code received by email.

After you have printed and signed your application, you will need to collect supporting documents. For example, to open a bank account at La Banque Postale, you will need a valid identity document, if you are a foreign national you can provide one of the following documents here

– Proof of address

– A proof of income (not always) :

– Last pay slip (less than 2 months old)

– A certificate from your employer or your employment contract specifying the remuneration (less than 2 months old)

– The last income tax or non-tax notice or RISA (Notice of Income Tax Reporting Status)

– And any other proof of income: pension, retirement, social benefits (CAF, ASSEDIC, RSA, …), land income, income from self-employment, etc…

Once the file is complete, you can either finalize it online, in an agency, or send it by mail. It depends on the banks.

Examples of online banking for individuals

Online banking without income :

Monabanq; Hello bank; Eko; Orange Bank; N26 (German bank); Revolut (English bank) and ING

Online banking with minimum income :

Fortuneo, Boursorama; BforBank

Open a bank account in a branch

The advantages of a network bank

A network bank is a bank with a branch. Even if you choose a bank with a physical branch, these banks allow you to manage your accounts and expenses via an application or their website.

Unlike 100% digital banks, network banks impose very few entry requirements, no minimum income. These banks offer a wider range of services than digital banks, such as mortgages, repatriation insurance, home insurance, etc.

If you wish to become a self-employed entrepreneur, these banks have services and offers adapted to business accounts.

What differentiates them the most from online banks is the access to a local service!

The disadvantages of a network bank

However, they do have some drawbacks.

A proximity service that implies a shorter time slot than online banking.

Moreover, these banks are sometimes overloaded in terms of appointments, you have to be patient to get an appointment!

They are more expensive than online banking, so you do have to pay for the extra services.

As these banks offer many services, they are often criticised for the lack of clarity in their offers and the non-transparency of their tariffs.

How do I open an account in a network bank?

banking account

Creating an account in a branch is often more time consuming than digital banks.

However, by discussing your needs with an advisor, you will be able to choose the account that best suits your needs.
and the services best suited to your profile. You will be asked to provide the same supporting documents.

If you want a bank with a branch, we recommend banks located in the 1st district of Paris., 2th, 3th and 16th arrondissement of Paris.
In these boroughs, you will always find an English-speaking banker!

Also to be read :

How do you get the Internet when you move abroad?

How do you get your social security number?

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