Opening a bank account in France

The current account (compte courant or compte de dépôt) at a traditional bank with a branch or online, with monthly fees (a services package or convention) or free.

• Digital banks (Boursorama, Hello bank!, Revolut and N26) are cheaper and easier with an app only, and suit those who do not need a branch.
• And a Nickel account is opened at once at a buraliste without an income condition and issues a card, suitable for newcomers.
• And the service bancaire de base (basic banking service) is a right for those whose account opening was refused or who have no account: the Banque de France designates a bank that opens you an account with a card, transfer and direct debit at the lowest fees.
• And for the low-income the offre spécifique clientèle fragile (OCF) whose fees are capped at three euros a month.
• And there are joint accounts (comptes joints) for spouses and accounts for minors.
• To compare use lecomparateur.gouv.fr or MoneyVox.

To open you need: a valid identity document (passport or residence card), proof of address (justificatif de domicile) under three months, and usually proof of income or work (payslips or a contract) and sometimes an accommodation certificate.

• For newly arrived foreigners who do not yet have an address they can open a digital account (Nickel or Revolut) then update it. You book an appointment at the branch or open via the app by photographing the ID and a selfie video for verification.
• You sign the convention de compte (account agreement) and get an RIB and a card (arriving within a week).
• Read the tarif, the fee schedule, before signing.
• If a bank refuses you, you have the droit au compte: request a written refusal then submit a request to the Banque de France (via its site or by post) which designates a bank for you within a working day.
• And do not pay any intermediary.
• And tell the employer, CPAM and CAF the RIB.

The account has monthly or annual fees (about 0 to 20 euros) for the card and services, and fees for withdrawing from other banks' machines or abroad, international transfers, rejection (rejet) and overdraft (découvert).

• Compare prices and note the frais d'incidents (incident fees) when the balance is insufficient (capped by legal limits).
• The bank card (Carte Bancaire CB) with Visa or Mastercard is accepted everywhere, and accepts contactless payment (up to 50 euros) and via the phone.
• You can withdraw from a DAB (machine).
• Payment by direct debit (prélèvement) for bills and rent, and by transfer (instant SEPA virement) between accounts using the IBAN.
• And the chèque, cheque, is not used much but accepted for rent and schools.
• For transfers abroad compare the bank, Wise, Remitly and Western Union.
• And the bank must be informed of the source of large sums under anti-money-laundering rules.

The Livret A is a safe government savings account, open to every resident (even children), with tax-free interest (about 2.4 to 3 percent, changes), and withdrawal is possible at any time, with a maximum ceiling of 22950 euros.

• It is opened at any bank (or the Banque Postale) free of charge, and suits the emergency reserve.
• And the LDDS (livret de développement durable) with a ceiling of 12 thousand euros and similar conditions, and the LEP (livret d'épargne populaire) with higher interest for the low-income (the tax notice is required).
• And assurance-vie, life insurance, and long-term saving.
• And digital banks such as Boursorama offer good-priced offers.
• Start saving a small amount monthly, and build a reserve of three months of expenses.
• And avoid quick loans (crédit renouvelable) and high-interest loans, and ask the Banque de France about surendettement (over-indebtedness) if your debts accumulate.

Bank fraud is common: messages or calls in the name of your bank asking for the 3D Secure code or the password or a transfer to a safe account (spoofing), or fake delivery messages, or fantasy investment offers, or romance fraud.

• The real bank does not ask for your code nor to move your money.
• End the call and call your bank on the number behind your card.
• If you fall into an unauthorised operation inform the bank at once and block the card (opposition) via the app or 0 892 705 705 (Carte Bancaire) and file a complaint with the police, and you request refund under PSD2 (usually the amount is returned within a working day unless it is gross negligence).
• To complain: customer service then the médiateur bancaire free then the ACPR.
• And UFC-Que Choisir and CLCV help.
• And for debt the Banque de France.
• And enable two-factor authentication and alerts.

What is an RIB?