French Mortgage Finance

Information on opening a French bank account (what documents to provide), the debit card and setting up debit orders. Information includes a sample of how to write a French check and an explanation of the RIB and TIP. Also: banking jargon guide.
Note: Many banks in France have regional English-language websites with English-speaking staff, and services and facilities in English at certain branches.

For explanations of French banking terms see: French Banking Terminology
Major French Retail Banks
The major French banks are:

Allianz Banque
AXA Banque (Internet banking)
Banque Accord (Internet banking)
Banque Populaire (some regional websites are in English)
Banque Populaire de la Côte d'Azur International Branch (all English-speaking)
Barclays France (website in English)
BNP Paribas
Caisse d'Epargne
CIC
Credit Agricole Crédit Agricole runs a service for UK residents relocating to France, Britline
Credit Lyonnais
Credit Mutuel
Credit du Nord

HSBC France
ING Direct (Internet banking)
La Banque Postale
MonaBanqu (Internet banking)
Société Générale
Opening a French Bank Account
A foreigner who is (or is going to be) resident in France for more than three months may open a French bank account (compte bancaire). A foreigner who is not (nor is planning to be) resident in France may open a non-resident's account (compte non-résident).

The compte non-résident
Not all banks have provision for a non-resident's account, and others impose restrictions on who may open an account, based on their place of residence (it is generally easier for EU-residents than those in non-EU countries) the minimum opening balance and other factors. Some banks have facilities for an account to be opened from outside France.

Documents required to open an account may vary but generally include proof of residential address (a recent utility bill) and proof of identity.

A French resident's bank account
A foreigner moving to France may open a bank account. Most banks have a variety of account types, with day-to-day banking usually being handled through a current account (compte à vue, also called a compte de dépôt à vue or a compte chèque).

These documents are needed to open an account:

EU citizens: Proof of identity (a valid passport or ID card)
Non-EU citizens: Proof of residence (Carte de séjour)
Proof of a French address: a utility bill, rental agreement or property deeds
Proof of earnings or status: Contract of employment/proof of earnings/proof of status (example: a student card)
Reference: from other banks where accounts are held (usually only required for loans and overdrafts)
In some cases, a birth certificate
Opening an account can be done in a day and methods of making payments (cash cards and cheque books) will usually arrive within a week to ten days of the account being opened.

Accounts may be held in joint names.

Note that an account held by two parties will have the words "et" or "ou" between the names. In the case of an account held in the names M et Mme Xyz, both account holders must sign a cheque, while in the case of an account in the name M ou Mme Xyz, either account holder may sign.
French banks will charge for certain items, for example in some a fee is payable to have an account, there's a fee to have a card (and second card), there may be a charge for the Internet banking facility and for transactions in certain banks.

Using a French Bank Account
Depending on the type of account chosen a cheque book, and payment and cash withdrawal card (the carte bleue - or "blue card") will be issued.

Reading and writing numbers in France
When writing or reading French numbers, it is important to know the placement of points and commas.

A point marks the thousands, while a comma separates the cents: one thousand Euro is written €1.000,00 (mille euros)
A comma marks the fractions in a percentage: fifty-two point six percent is written 52,6% (cinquante deux virgule six pourcent)
Card Payments
Card payments by carte bleue are accepted in most places in France. Payment is made using the PIN code; signatures may be requested over a certain amount
Look for the CB (carte bleue) Visa or MasterCard symbol
Note that the the CB is a debit not a credit card
Cash machines, ATMs (distributeurs) are easy to find in most towns and villages and are straightforward to use (being much the same as elsewhere in the world): enter the card and follow the text instructions. Many machines allow for the option to select English-language text
There may be restrictions on the use of an account when travelling outside the département where the account is held; speak to the branch to make arrangements.
Cheques
Photographic ID (for example passport or driving licence) may be requested when paying by cheque.

Paying by personal cheque does not incur additional charges in France; however, a fee is charged to use a bankers draft (Chèque de Banque).

Cheques are accepted as a cash payment. French law makes a cheque equivalent to cash; it is therefore illegal to write a cheque if there are not sufficient funds in the account to cover the payment. If a cheque is written that the bank cannot pay because of lack of funds, the bank is obliged to report it to France's national banking authority, the Bank de France, which can impose an interdit bancaire which forbids the account holder from using cheques for five years.
A cheque can only be cancelled if it is lost, stolen or if there is a suspicion of fraud
It is illegal to write a post-dated or open-dated cheque
A cheque is valid in France for one year and eight days (12 months, 8 days).
When receiving payment by cheque, always write the account number, bank code and sign the back of a cheque before depositing it.

As a chequebook nears completions, the bank will send another one if a form requesting automatic renewal has been filled in. Postal fees are charged for registered delivery. Renewal can also be made by filling in the form provided in a chequebook. Collection can be made at the branch.

Completing a French cheque
French cheques should be filled out in French.

RIB: Relevé d'Identité Bancaire
On opening an account, the bank provides several copies of RIB (Relevé d'Identité Bancaire). This is a form which establishes the bank references and account details and identity. It contains the numéro de compte (account number) the code de l'établissement (bank code) and the code du guichet (sort code).

RIBs are requested when establishing regular contract payments by automatic debit on an account (prélèvement automatique) for example, for the payment of utilities. RIBs are also used when setting up automatic payments into an account, for example Social Security, Family Allowance benefits or salaries.

A RIB is also needed when taking out a contract where monthly payments by TIP (see below) are required.

There are usually about three printed RIBs in the back of a cheque book. Printouts of RIBs can also be made from a cash machine, or via the Internet banking facility.

TIP: Titre Interbancaire de Paiement
A TIP (Titre Interbancaire de Paiement) is the authorised permission to debit an account of the sum asked for by the provider (for example EDF, France Telecom or the Tax Department).

The TIP replaces the use of a cheque, and comes attached to the bottom of the invoice (facture). The first time an invoice is received, sign it and enclose a RIB in the envelope provided (there will be printed instructions). The next invoice amount will automatically have all the bank information printed on the TIP and needs only to be signed, dated and posted off.

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