France – Banking

What are the main banks in France?

France’s financial sector ranks among the largest in Europe, encompassing retail, cooperative, and investment-oriented institutions. Roughly 300 banks are active in France, including foreign financial entities. The country’s central bank, the Banque de France, was established in 1800 and is responsible for monetary policy and maintaining financial stability. Supervision of individual banks falls to the ACPR (Autorité de Contrôle Prudentiel et de Résolution), which operates under the Banque de France’s umbrella.

The five largest banks measured by assets are presented in the table below. All figures are as of 2024. Always verify current details directly with each institution or through the Banque de France or the French Banking Federation (FBF).

Alongside these established institutions, France is undergoing considerable digital transformation in banking. BoursoBank, a Société Générale subsidiary, has become the country’s leading digital bank with 6.3 million customers in 2024. Further online banking options include Hello bank! (part of BNP Paribas), Fortuneo, Monabanq, and BforBank. The French Banking Federation (FBF) represents all banks operating in France, and its website at fbf.fr is a valuable reference for checking current membership and regulated institutions. Always confirm customer service contact details directly with each bank, as these are subject to change.

Do any major international banks operate in France?

The FBF is the professional body representing all banks operating in France — 320 banks including 115 foreign banks. A number of prominent international institutions maintain a foothold in France, though their activities tend to be oriented towards corporate, investment, or private banking rather than everyday retail services.

One significant recent development involves HSBC. The transfer of HSBC Continental Europe’s retail banking operations in France was finalised on 1 January 2024, with those activities now carried out by CCF (Crédit Commercial de France). HSBC Continental Europe has since shifted its focus to supporting French companies in their international expansion and assisting individuals with wealth management, stepping back from standard retail banking. Expats who previously relied on HSBC for day-to-day banking needs should contact hsbc.fr or CCF at ccf.fr directly to clarify which services remain accessible.

Other international banks with a registered presence in France include Barclays Bank PLC (France), located at 183 Avenue de Daumesnil, Paris; and Citibank Europe plc, French Branch, at Etoile Saint Honoré, 21-25 Rue Balzac, Paris Cedex 08. Deutsche Bank and JP Morgan also maintain French operations. However, the majority of these institutions primarily serve corporate clients, high-net-worth individuals, or institutional investors rather than the broader retail market.

Because international banking presences can shift — through mergers, disposals, or regulatory changes — always confirm current retail availability directly with the relevant bank or via the ACPR’s register of authorised institutions before basing decisions on a particular international bank’s presence in France.

Do banks in France offer accounts or services specifically for expats?

France draws a distinction between accounts for residents and non-residents. The type of account you are eligible to open depends on your residency status. If you have lived in France for more than 183 days on a valid visa and pay taxes there, you can open a compte courant (current account) — the standard account used for everyday financial transactions.

If you spend fewer than 183 days per year in France and are not a tax resident, you are entitled to open a compte non-résident — a basic current account for day-to-day use. Most traditional banks do not provide accounts to non-residents, and those that do will generally require a minimum balance and charge considerable subscription fees.

Certain banks offer products and services tailored to the needs of expats. BNP Paribas operates an “International Clients” division aimed at foreign nationals living, working, or investing in France, providing English-language assistance and remote account opening. Britline (part of Crédit Agricole) is one of the rare traditional banks that permits non-residents to open accounts remotely with English-speaking support. Some regional Crédit Agricole networks actively promote this service to overseas property buyers and those planning extended stays in France.

The Livret A is a state-regulated savings account in France offering tax-exempt interest, frequently used for emergency funds and short-term savings goals. It is open to all residents. Fees and eligibility criteria differ between providers and change over time; always check current terms on the bank’s official website or enquire directly. For authoritative guidance on account types and consumer rights, visit the Banque de France or the consumer finance portal economie.gouv.fr.

What are typical bank opening hours in France?

French bank branches are generally open from 8 or 9AM until 5PM, Monday to Friday, with some also offering Saturday morning hours. Banks do not typically open on Sundays or on French public holidays. Hours may differ between individual branches, regions, and banking groups.

If you are based in a rural location, it is worthwhile checking the hours of your nearest branch, as closing for lunch remains a common practice in some areas. In smaller towns and villages, certain branches may operate on a reduced weekly schedule, so calling ahead or using the bank’s branch locator online before making a trip is always sensible.

Online banking penetration in France reached 72 percent in 2024, exceeding the EU average, meaning that the great majority of routine tasks — reviewing balances, initiating transfers, settling bills, and managing direct debits — can be carried out through a bank’s app or website around the clock. Telephone banking is also broadly available at major banks, though customer service lines typically operate within business hours. Neobanks such as N26 and Revolut offer even more streamlined options, centred on core banking services with fewer constraints; these are well suited to those wanting uninterrupted, 24/7 access to their finances through a mobile device.

What do expats need to know about the banking system in France?

The French banking system is well-structured and financially sound. BNP Paribas, BPCE, Crédit Agricole, and Société Générale have all been consistently identified as Global Systemically Important Banks (G-SIBs) by the Financial Stability Board. This robustness will be reassuring to expats, but there are several distinctive features of the French banking environment worth understanding before you arrive.

Deposit protection: French deposit insurance covers balances up to €100,000 per depositor per bank (as of 2025), administered by the Fonds de Garantie des Dépôts et de Résolution (FGDR). This is broadly comparable to the FSCS protection in the UK (also £85,000/€100,000) or the FDIC in the US ($250,000). If you maintain accounts with several French banks, each account benefits from this protection independently up to the stated ceiling. Always confirm the current threshold at garantiedesdepots.fr.

The RIB (Relevé d’Identité Bancaire): The RIB is a standardised document containing your account’s identifying details, required for SEPA transfers and establishing direct debits. It is routinely requested in France — by landlords, employers, utility providers, and government agencies alike. You should keep copies to hand in both printed and digital formats.

Cheques: France maintains a notably pronounced culture of cheque usage compared to many other countries, particularly for rent payments and certain government transactions. Digital providers such as Revolut or Wise may lack full French IBAN functionality or the ability to issue cheques, which are still occasionally required in France. If you expect to need a chequebook, confirm that your chosen provider can supply one.

Language barrier: The majority of banks conduct their operations primarily in French, which can create difficulties when interpreting requirements or completing paperwork. Branch staff outside major cities may not speak languages other than French — it is worth asking whether bilingual staff are available when scheduling an appointment.

Account fees: Many French bank accounts carry modest monthly maintenance charges of €2–€10 depending on the services included (as of 2025). Basic account handling fees are generally modest, but charges may still apply if an account remains inactive beyond a defined period.

Supervision: The national competent authority for banking oversight in France is the ACPR (Autorité de Contrôle Prudentiel et de Résolution), operating within the Banque de France. As a member of the European banking union and single market, France’s banking system is more open to cross-border activity than peers outside the EU; European banking supervision distinguishes between significant institutions overseen directly by the ECB and less significant institutions supervised by the ACPR. For regulatory enquiries or complaints, visit acpr.banque-france.fr.

How do I open a bank account in France as an expat?

Opening a bank account in France is a fairly straightforward process for expats who can demonstrate residency. The steps vary somewhat between traditional branch-based banks and digital providers. It is not always necessary to visit a branch in person — many banks, including both conventional and online institutions, support remote account opening. The process outlined below covers both routes. Always consult your chosen bank’s official website or the ACPR for the most current requirements.

1. Choose your bank type. Decide between a traditional branch bank (e.g. BNP Paribas, Crédit Agricole, Société Générale), an online bank (e.g. BoursoBank, Hello bank!, Fortuneo), or a neobank (e.g. N26, Revolut, Nickel). When weighing up your options, carefully examine minimum deposit requirements, monthly charges, and the availability of debit cards and online banking — each institution offers distinct advantages, so select the one that best aligns with your financial needs and daily routine.
2. Gather your documents. As a minimum, you must provide valid proof of identity (a current passport or national identity card) and proof of address dated within the last three months (such as a utility bill or an attestation sur l’honneur de logement à titre gratuit — a sworn statement of free accommodation). For a non-resident account, you will usually also need to supply evidence of income or employment such as payslips or a pension statement, along with a tax identification number (TIN). Documents not written in French may need to be officially translated or notarised — check your chosen bank’s specific policy.
3. Book an appointment (for branch banks). Traditional French banks typically require either an in-person or video appointment; these are rarely available at short notice. Many banks now offer online video appointments, which can be arranged through their website.
4. Submit your application. For branch banks, bring original documents along with copies to your appointment. For online banks and neobanks, fill in the digital application form with your personal details and upload scans of your identity document and proof of address; most providers then require a brief selfie video or live video call to confirm your identity.
5. Make an initial deposit. Required minimum deposits vary by institution, ranging from €0 at Crédit Mutuel and Nickel to €300 at BoursoBank (as of 2024). This deposit remains fully accessible once your account is active and can be made by bank transfer or card payment. Always confirm the current minimum with your chosen provider before applying.
6. Wait for approval and account activation. Approval timescales range from a few minutes to several days for digital providers, and from a few days to a few weeks for traditional banks. Once confirmed, you will receive your IBAN and — for digital providers — a virtual card, with a physical card to follow.
7. Obtain your RIB and set up payments. As soon as your account is active, download or request your RIB (Relevé d’Identité Bancaire). You will need it to arrange rent, electricity, internet, and other recurring payments, as well as for virtually every administrative procedure in France.
8. Exercise your right to an account if refused. A French bank is entitled to decline an account application from a foreign national without providing a reason. If this happens, you can invoke your droit au compte (right to an account) with the Banque de France by submitting proof of address in France. The Banque de France will then designate an institution to open a basic account for you. Contact the Banque de France directly to exercise this right.

What banking and payment apps are widely used in France?

France’s banking sector is undergoing a marked digital shift, with a growing ecosystem of mobile banking apps, neobanks, and payment platforms gaining traction. All of the major French banks offer their own iOS and Android apps. For expats, the most pertinent digital options fall into three broad categories.

French online banks and neobanks: Online banking options available in France include BforBank, bunq, LeoPay, N26, and Revolut. BoursoBank, formerly known as Boursorama Bank and a subsidiary of Société Générale, leads the neobank segment in France with 6.3 million customers in 2024. The most recognised neobank examples are N26, Revolut, and Nickel — these tend to be less restrictive than traditional and online banks and allow foreign nationals to open an account irrespective of residency status.

International fintech platforms: Revolut has established a strong following in France owing to its feature-rich digital banking app, which includes multi-currency accounts, international money transfers, and cryptocurrency trading — appealing to both residents and frequent travellers. Wise is not a bank but a regulated payment institution specialising in multi-currency accounts, making it particularly practical for expats who regularly deal in multiple currencies or send money internationally. PayPal is also widely used for online payments and peer-to-peer transfers throughout France.

Regulatory considerations: Digital providers such as Revolut and Wise are not conventional banks — they deliver digital financial services without holding a full banking licence, offering features such as multi-currency accounts and flexible payment options that are well suited to managing funds across different currencies. This means they may not provide the same level of deposit protection as a licensed French bank. Digital banks, mobile-only institutions, and neobanks have been expanding rapidly across Europe, generally offering lower fees and a more streamlined user experience than high-street alternatives; some are fintechs without a full banking licence, while others are fully regulated banks providing a comprehensive range of services. Check the regulatory status of any provider on the ACPR register before opening an account.

How can expats manage money between France and their home country?

When it comes to sending or receiving money internationally, French banks frequently impose high fees and offer unfavourable exchange rates. Rather than relying on a traditional bank, expats can reduce costs considerably by turning to specialist money transfer services such as Revolut and Wise, or by engaging a foreign currency broker for larger sums.

Services for smaller transfers: Wise (formerly TransferWise) applies the mid-market exchange rate with transparent, low fees and no hidden charges, making it particularly well suited to one-off transfers or smaller regular amounts. Revolut is a strong choice for frequent transactions and day-to-day spending across multiple currencies. Both services are widely used by expats in France and operate under EU regulatory frameworks.

Services for larger transfers: When moving substantial sums — broadly anything above €30,000 or the equivalent — services like Wise may not always deliver the best value. In such cases, it is worth considering foreign exchange brokers who specialise in cross-border transactions between your home country and France; these providers are experienced in securing competitive exchange rates and are typically the most cost-effective route for transferring significant assets such as savings or liquidated investments.

Reporting requirements: French residents are legally obliged to declare all foreign bank accounts to the French tax authority (Direction Générale des Finances Publiques — DGFiP). This requirement extends to dormant accounts held overseas. A significant risk associated with holding accounts outside France is double taxation: if the country where the account is held has no tax treaty with France, you may face tax obligations in both jurisdictions, each requiring a separate declaration. France has an extensive network of double taxation agreements, so it is worth verifying the current treaty status with your home country via the DGFiP website. For large incoming transfers, your French bank may request documentation proving the source of funds — retain clear records. For authoritative guidance on tax reporting requirements, consult the impots.gouv.fr portal or a qualified French tax adviser.

Frequently Asked Questions

Can I open a French bank account before I arrive in France?

Since 2024, certain French online banks accept video-based identity verification using a foreign passport and an overseas address, but this is typically limited to applicants who are already tax-resident in the EU/EEA or the UK. Neobanks like Revolut can be set up before you travel to France, though you will need to confirm your address before a physical debit card is issued. Traditional banks generally expect you to be present in France and available for an in-person or video appointment.

What is the “droit au compte” and how does it help expats?

Any French bank may decline an account application from a foreign national without being required to explain its decision. If this happens, you are entitled to invoke the droit au compte (right to an account) with the Banque de France, supplying proof of address in France. The Banque de France will then designate a specific bank to open a basic account on your behalf. Full details are available at banque-france.fr.

Are deposits in French banks protected?

The French deposit guarantee scheme protects balances up to €100,000 per depositor per bank (as of 2025), administered by the FGDR (Fonds de Garantie des Dépôts et de Résolution). This is broadly equivalent to protection offered by schemes such as the FSCS in the UK or the FDIC in the US, though the precise limits and coverage differ. Verify current figures at garantiedesdepots.fr. Bear in mind that neobanks and e-money institutions may not be covered under the same scheme — always confirm the regulatory status of your chosen provider.

Do I need to speak French to bank in France?

The majority of French banks operate primarily in French, which can make navigating requirements and completing documentation challenging. That said, some institutions do provide bilingual services. BNP Paribas maintains an “International Clients” division offering English-language assistance. Britline (Crédit Agricole) is one of the few traditional banks permitting non-residents to open accounts remotely with English-speaking staff. Neobanks such as N26 and Revolut also provide multilingual apps and customer support options.

What documents do I typically need to open a bank account in France?

At a minimum, you must present valid proof of identity (a passport or national identity card) and proof of address dated within the last three months. You may additionally be asked for evidence of income or employment such as payslips or a pension statement, and a tax identification number (TIN). Certain banks may also request a residence permit, employment contract, or birth certificate. Documents that are not in French may need to be officially translated or notarised.

What is a RIB and why is it important?

A RIB (Relevé d’Identité Bancaire) is a standardised document that identifies your French bank account for SEPA transfers and direct debit arrangements. You will require it to set up recurring payments for rent, utilities, internet, and other services. It is also needed for almost every administrative process in France — including applying for housing benefit, registering with an employer, and paying taxes. Download or print several copies and ensure a digital version is always within reach.

Are there restrictions on holding foreign currency accounts in France?

France does not generally restrict residents from holding foreign currency accounts either domestically or abroad, but declaration obligations apply. French residents must report all foreign bank accounts to the DGFiP annually as part of their tax return. Failure to do so can lead to substantial penalties. For large international transfers, your bank may ask for documentary evidence of the funds’ origin. Consult the DGFiP or a qualified French tax adviser for current guidance, as rules may evolve.

How long does it take to open a bank account in France?

The process typically takes anywhere from a few days to a few weeks, depending on the institution and whether you apply in person or online. Digital banks and neobanks generally offer much faster outcomes, sometimes approving applications within minutes to a few days. Traditional branch-based banks tend to involve more extensive document verification and longer processing periods. Once approved, additional time may pass before your physical debit card arrives by post.

Can neobank IBANs be used for official French payments like rent or benefit claims?

Neobank IBANs are accepted for CAF housing benefit payments, provided the IBAN is in your name and is SEPA-compatible — the CAF information system refreshed its IBAN validation tables in February 2025. Most SEPA-compatible IBANs are recognised for direct debits, rent, and payroll purposes in France, though some landlords or employers may specifically prefer a French IBAN. If you are uncertain, clarify with the receiving party before relying exclusively on a non-French IBAN.