Banks and Finance

Banking Requirements

At an early stage in planning a move to France it may be advisable to open a French bank account. Even before you move to France, you will need funds to pay the costs related to buying or renting a property, legal fees and deposits etc.; so this does not just apply to those who are moving to France permanently. Even once you have your holiday home in France it can be useful to have a French bank account as regular bills, such as those for local taxes and utilities can be paid by direct debit from your account when you are not in residence.

In the short term it is possible to manage without a French account. Credit cards and travellers cheques are accepted in France. However, the fees, which are charged for these services can make a long-term stay in France, without a French bank account, very expensive. Visa Delta debit cards are widely acceptable for withdrawals or payment for goods, while cards with the Cirrus logo can be used to withdraw money from cash points displaying the same logo.

Credit Cards. Until very recently, there is a difference between French and UK issued credit cards: French cards have a microchip and users enter a PIN into the card machine, or give their PIN at the check out when making a purchase. UK cards have a magnetic strip (regarded as old fashioned in France) and customers are not used to providing their PIN when buying goods. "Chip & Pin" as it is known, is now becoming more common in the UK.

Another credit card caveat, this time from the providers of Card Protection Plan insurance is that France is the worst country for recorded credit card theft, and Paris and Nice are the worst areas.

Keeping a UK Account, many expatriates decide that, even after moving permanently to France and opening a French account, to keep a bank account in their country of origin. This account may then be drawn on if you return for a holiday at some point, or if you need to order any home comforts not available in France from mail order.