How to open a French bank account when the bank says no
As most of us will have surely found out by now, the pleasures of the French lifestyle can at times be counter-balanced by the tediousness of the bureaucracy…
So, have you found that despite all your best efforts, you still haven’t managed to open a bank account ? Are you getting turned down left right and centre? The “right to an account” , (le droit au compte), ensures everyone’s right to have access to a bank account. But how does it work? What are the conditions ? Here’s the lowdown.
What is ‘le droit au compte’?
Enshrined in French law is le droit au compte, which enables any individual residing in France to have access to a bank account, un compte en banque.
If you have been turned down, the Banque de France can appoint a bank to open an account for you and give you access to basic banking services.
This ensures that everyone over the age of 18 has a bank account to receive their salary, social security benefits, make payments, settle their bills, etc.
Good to know
Banks have a right to refuse applicants. Also considered a refusal, is when a bank does not respond within the fortnight following your request to open an account (the countdown begins when you have the proof that they received your request ). It must then provide you with a refusal letter, lettre de refus, explaining both its reasons for doing so, and your droit au compte.
Who can benefit from the right to an account?
You must not already have any individual account in your own name, and you must have been refused an account.
You must then also meet one of the following conditions:
-you are domiciled in France, regardless of nationality,
-you are French and reside abroad,
-you are legally resident in a European Union country other than France and not acting in a professional capacity.
You can benefit from the right to an account even if you are banned from banking, registered in the FICP file (fichier des incidents de crédit aux particuliers = national register of household debt), or over-indebted.
The right to an account procedure applies to both private and business accounts, and can also be applied to legal entities (companies, associations, etc.) that are unable to open a bank account.
The right to an account can be exercised even if you already hold a collective account (for example, if you are the joint holder of a joint or undivided account).
Good to know
An approved consumer association, your CAF (Caisse d’allocations familiales), your département or your municipal or inter-communal social action centre can also help you with the formalities.
What services does the right to an account offer?
The right to an account enables you to offer basic banking services: receive and make transfers, consult your account remotely, make transfers, cash checks, obtain a systematic authorization payment card, etc
Note that these services must be offered free of charge.
Good to know
The basic banking services offered as part of the right to an account do not, however, include a checkbook or the possibility of an authorized overdraft.
How can I benefit from the right to an account?
By submitting a file to the Banque de France. You can either do this yourself at the actual Banque de France or one if its branches, by sending your file to them, or the bank having refused you can do it upon your request. You will need the following supporting documents:
- a completed and signed application form, available from a Banque de France branch or on its website,
- a letter of refusal to open an account issued by a bank, or proof of receipt of the registered letter / proof of hand-delivery of the application to open an account more than a fortnight old,
- a copy of a valid identity document,
- a copy of proof of address less than three months old,
- a sworn statement that you do not have a personal or business deposit account,
- a sworn statement that you are legally resident in another Member State of the European Union, if that’s the case.
You must submit your application in one of the following ways:
-by going directly to the counter of a Banque de France branch,
-by sending it directly online via the Banque de France website,
-you can also submit your application by post to the following address: Banque de France – TSA 50120 – 75035 PARIS cedex 01.
The Banque de France will appoint a bank to open an account for you within one working day of receiving your application.
That bank then has three working days to send you a letter with the contact details of its branch and the list of required documents for you to provide. Upon reception of these, they then have another three working days to open your account. Et voilà!
Some vocab to help you out:
- Application form = Formulaire
- Banking ban = Interdit bancaire
- Basic banking services = Services bancaires de base
- Business account = Compte professionnel
- Fortnight = Quinze jours
- Over-indebted = Surendetté
- Proof of address = Justificatif de domicile
- Proof of a recorded delivery = Accusé de réception de lettre recommandée
- Proof of hand-delivery = Preuve de dépôt en mains propres
- Refusal letter = Une lettre de refus
- Right to an account = Le droit au compte
- Sworn statement = Déclaration sur l’honneur
- To terminate an account = Résilier un compte
