Can a French bank account be opened before moving?

Reader Question: We plan to buy a home to move to France and want to set up a bank account before moving. Is this possible?

There are no rules that prevent non-French people or those living overseas from opening a bank account in France, although not all banks take on non-resident clients. 

Banks can set their own rules on this, and while they will traditionally ask for proof of a French address, this is not always necessary especially if you are planning to move, as in your case.

Many second-home owners have a French bank account to deal with payments such as energy bills, etc without living here.

Note however that if you are looking to open the account to purchase a property, this could instead be done via a mortgage broker, and you can put off opening your bank account until you are physically in France/have your address. 

You would then have a greater choice of available banks and types of account that you could open suited to your needs either as a main resident or second-home owner, without having to look at changing banks again.

In addition, if looking to buy your property with a mortgage, be aware that non-residents may face higher deposit limits and stricter payback rules. 

Read more: Can Britons get mortgage to buy French property post-Brexit?

Americans may face more difficulty in accessing mortgages than some other nationalities due to the additional measures French financial services must carry out when financing the projects of US citizens. 

This is due to French-US agreements surrounding the US FATCA (Foreign Account Tax Compliance Act).

Bricks and mortar or neo-bank? 

There can, however, be advantages to setting up a French bank account as soon as possible, for example so you can set up direct debits with French firms (this is also possible with banks in the SEPA single payments area, which includes the UK and Switzerland).

You can in this case opt for an account with a physical high-street bank – popular ones in France include Crédit Agricole, LCL, Société Générale, La Banque Postale, Banque Populaire and BNP. 

These traditional banks operate much like others around the world, with local branches you can visit, although French banking customs can seem in general more stringent. 

While physical banks have upsides including established history, a dedicated personal banking advisor and in-person customer service, opening an account may be difficult, especially if you wish to do so online from abroad. 

If you are able to visit the area you wish to move to, you could arrange to call in and discuss your plans. Note that if you do open an account as a non-resident and later move to France, it is important to notify this change to the bank.

Accounts with online banks or neo-banks can, of course, be opened online, though not all accept non-residents. However, services offered may be limited, unless paying for a ‘premium’ account. 

Neobanks also typically do not offer mortgages and other loans. Some are, however, now trying to enter the mortgage market in Europe, so in future this may become a more viable option for international homebuyers.

Another alternative is to look at a specific English-speaking banking service, such as Crédit Agricole’s Britline, an online bank for people who live in the UK/Ireland or for Irish/British people in France. 

It states that accounts may be opened by an “existing or future French property owner or regular visitor to France”.

Read more: CA Britline: is it a good bank for Britons with homes in France?