In Brief

• Opening an individual bank account is free.
• Any type of account (current, savings, securities) can be individual.
• The bank can refuse to open an account without justification but must inform you of your right to the Banque de France.
• Closure initiated by the account holder is free and without reason.
• The maximum closure period by the bank is 30 days after request and return of payment methods.

Who Can Take Action

To open an individual bank account in France, you must meet certain legal conditions. You can open this account if you are a foreign national and legally reside in French territory.

Regarding age, you must be an adult or an emancipated minor to open an individual account on your own. If you are a non-emancipated minor or a protected adult, you must have the authorization of your legal representatives to open an account.

It is important to note that specific conditions, such as age restrictions or minimum deposit obligations, may be required when opening a savings book, plan, or account. It is advisable to inquire directly with your bank for these specific products.

Steps

The opening process involves several administrative and legal checks:

1. Identity Verification: To request the opening of an account, you must present an official identification document with a photograph. Accepted documents include:

   • National identity card
   • Passport
   • EU residence card
   • Other residence permit
   • A driver's license may be accepted if the photo leaves no doubt about your identity.

2. Proof of Residence: You must provide a document proving your address. Examples include:

   • Tax notice
   • Rent receipt
   • Water or electricity bill
   • Certificate of residence (if you do not have a stable residence)
   • If you are hosted, the bank may require a hosting certificate. An official template is available.

3. Signature Deposit: You must deposit your signature, which will be recorded by the bank. If you grant a power of attorney on the account, the concerned person must also deposit their signature.

4. Bank Decision:

   • Acceptance: The bank informs you of the terms of use. For a current account, you sign the bank account agreement (rules for opening, operation, closure). For other accounts (savings, securities), you sign a specific contract.
   • Refusal: The bank can refuse to open the account without justifying its decision. However, it must inform you of the possibility of contacting the Banque de France to exercise your "right to an account".

Documents

The mandatory documents to complete your file are:

• An identification document with a photo (ID card, passport, residence permit, or driver's license if the photo is indisputable).
• A recent proof of residence (tax notice, rent receipt, water/electricity bill).
• A hosting certificate if you are not a tenant or owner.
• A certificate of residence if you do not have a stable home.

Cost

Opening an individual bank account is free. However, the bank may charge you fees for account management, referred to as "account maintenance fees." The precise details of these fees must be included in the pricing information provided by the banking institution.

Deadlines

• Closure at Your Initiative: The bank closes the account within a maximum of 30 days from your closure request and the return of payment methods. In practice, this period is generally 10 days.
• Closure by the Bank: If the bank decides to close the account, it must respect a notice period of 2 months. It does not have to justify its decision.
• Bank Mobility: In case of changing banks, within 5 days from the closure request, the bank provides you with a summary of automatic transactions carried out in the last 13 months. Creditors have a period of 10 days to take your new banking details into account for direct debits.

Pitfalls to Avoid

• Do Not Confuse Balance and Closure: Simply withdrawing the deposited funds does not close the account. The account is settled but not closed, which can incur fees for an inactive account.
• Sufficient Provision: When closing at your initiative, remember to keep a sufficient balance in your account. This allows the bank to settle ongoing transactions (notably issued checks) and thus avoids payment incidents.
• Return of Payment Methods: You must return or destroy all payment methods provided to you (cards, checkbooks) before the effective closure.
• Cancellation of Standing Orders: Standing transfer or direct debit orders are canceled on the date the termination letter is received. Make sure to update your details with your various contacts.
• Termination Procedure: In practice, you must send a termination request by registered mail with acknowledgment of receipt. A letter template is available to facilitate this process.

Account Usage

You are the only one who can perform the following operations on your individual bank account:

• Deposit and withdraw funds (unless you grant power of attorney to another person).
• Use the payment methods associated with the account.

You are solely responsible for debts and payment incidents related to your bank account. The bank must address you to regularize the situation.

The account title includes your first name and last name, preceded by Mr. or Ms. If you are married, you can choose to open the account in your family name or your usage name (your wife's name, your husband's name, or hyphenated name). The bank verifies that the usage name appears on your identification document. Note that if you are a single female client, the bank cannot impose the use of "Miss." In the case of guardianship or curatorship, the mention "under guardianship" (or curatorship) of , followed by the name of the guardian or curator, is added.

In the event of the account holder's death, the bank blocks the account as soon as it becomes aware of it. It no longer records any deposit or withdrawal transactions. The account may only be unblocked for the settlement of certain expenses incurred after the death.

Official Source

Service-public.fr - Individual Bank Account