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For an expatriate who recently arrived in Paris, renting an apartment in France without having a French bank account can turn out to be quite an ordeal.
Since to open a bank account, you must provide proof of address, and that to establish your domicile, you must first attach a bank statement to the rental file, it makes it impossible!
Opening a bank account in France is relatively simple for a French resident, but this approach is practically impossible for an expatriate business comer since proof of address is mandatory.
By definition, INSEE tells us that "a non-resident can be a natural person, of French or foreign nationality, whose main domicile is abroad". https://www.insee.fr/fr/metadonnees/definition/c1741
In general, to open a bank account in a French bank, the applicant must provide several official documents proving his identity. Depending on the applicant's situation, the documents required to open a deposit account are:
For people staying free of charge:
For an expatriate who is not a French resident:
Any French bank in which a French resident or an expatriate wish to open a bank account can refuse the request with no valid reason other than the principle of contractual freedom.
If you get such a refusal, you can have recourse to the Banque de France insofar as you justify having a French domicile! After studying your request and with a favorable opinion, the Banque de France will designate a banking establishment in charge of opening your account.
Once the essential elements for opening a French bank account are gathered, you have several possibilities. Some options may be more suited to your situation, especially if you want to open an account when no rental is in progress to justify your residence on the national territory.
The majority of French banks offer the possibility to open a bank account directly with a bank advisor. These banks often have multilingual advisers and can provide assistance to expatriates in their own language. Advisers analyze your entire financial situation in order to provide personalized solutions.
Example: BNP on Boulevard Saint Germain where advisers speak English, German and Spanish. https://mabanque.bnpparibas/fr/nous-contacter/nous-trouver/agences-internationales/agences-paris-international
Once the bank account is created, the account holder can manage their account remotely via an application or on the agency's website. However, being physically present is essential for opening the account. So, for those expatriates who have not yet arrived in France, this option is not possible.
An online bank is necessarily linked to a traditional bank, so the offer is as qualitative as that of a physical bank branch and often has lower banking costs. Opening a bank account in an online agency is possible because most do not require their new customers to provide proof of address. Yet, to be consistent with the security rules of street agencies, online agencies ask for a RIB (relevé d’identité bancaire) from a French bank.
An expatriate can give his “bank details” ou “Bank account number” from his own country.
By definition, neo banks are payment establishments with a banking license offering all of their services on 100% mobile access. These neo banks mainly provide free traditional banking products such as a credit card, a RIB, and all necessary banking operations, but they provide no insurance of any kind. Opening a bank account with a neo bank may seem "easier" for expatriates wishing to open a French account. These new banks have drawbacks: it is impossible to deposit checks or cash, and overdrafts are not authorized, even in force majeure. Thus the neo banking remains incomplete than traditional banking and is often more costly. https://www.jepargneenligne.com/neo-banque/banques-mobiles-comparatif-detaille-des-meilleures-offres/
Specialized in corporate furnished rentals for expatriates since 1987, Paris Rental has developed easy and rapid methods to help its expatriate customers getting a domicile. Paris Rental accepts international transfers for renting a furnished apartment in Paris, therefore establishing a lease for the expatriate client. Once provided with a French home address, the expatriate tenant can open a bank account with any bank.
Also, thanks to its privileged networks, Paris Rental can introduce their client to their partners and speed up the procedure for opening a French bank account.
Thus, we invite expatriates looking for an apartment in Paris to contact Paris Rental, who accompanies and advises its customers throughout the preparation of the rental dossier for a furnished apartment and facilitates banking procedures.
Similarly, our partner, GarantMe, can act as Guarantor for the rental of a Parisian apartment, when guarantees are not sufficient. With the promotional code "PARIS RENTAL," the guaranteed tenant gets an exceptional discount of € 35 on GarantMe service's costs.
The prestigious Paris Rental real estate agency specializes in furnished rentals for Corporate Expatriates and International Companies. Since 1987, Paris Rental has welcomed and housed more than 20,000 expatriates from around the world. To become one of these happy tenants, here are our tips for a perfect rental file with owners of Parisian furnished apartments:
For more details on building a rental file, we recommend that you read the Paris Rental blog How to build a rental file”.
There are several ways for you to rent an apartment in Paris and open a French bank account. The most comfortable option is to contact a professional Real Estate Agency specializing in furnished apartment rentals to expatriate corporate clients.
With 33 years of experience in relocating expatriates to Paris, Paris Rental and its multilingual team will be happy to assist you during your search and through your installation in Paris, including opening a bank account.
Moving to Paris can be an easy and pleasant experience. Try us!
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