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The best banks for non-EU citizens living in France

Many foreigners in France - particularly pensioners - need to keep a bank account in their home country, but not all banks will offer accounts to people living abroad.

The best banks for non-EU citizens living in France
(Photo: Anne-Christine Poujoulat / AFP)

Most people who move to France get a French bank account – but many also maintain accounts with banks in their home countries to receive income in the form of pensions, property rentals, salary, or to hold savings and pay bills.

This is particularly key for pensioners, as some pension providers will not pay into a bank account in another country, but others just prefer the convenience of having a bank account and debit card to use on visits home in order to avoid extra transaction fees.

Banks within the EU benefit from ‘passporting’ arrangements that allow them to operate throughout the Bloc, but for those outside the EU it’s a little more complicated.

Here are the options.

International accounts

Many banks offer ‘international accounts’ aimed at those who have moved to other countries.

The major drawback is the cost; many accounts have a minimum deposit level or stipulate a minimum annual income, so they may not be suitable for pensioners, people on a low income, or those who just want to use their account for a few basic functions while keeping most of their income/assets in their French account.

Most expat/international accounts also charge a monthly fee and some charge transfer fees on top of that. 

They’re really aimed at ‘high net worth’ customers (ie rich) so they’re often not suitable for people who have lower means or have retired to France.

Internet banks 

The last few years has seen a proliferation of new internet banks, which offer online-only services and operate across Europe.

The advantage of these is that you can sign up with a French address and then carry out transactions in another country.

Many people use internet bank accounts – Wise (formerly the money-transfer service Transferwise, now set up as a bank), Revolut or Starling are notable examples – when they first move to France before they set up French accounts.

The disadvantage for some people is their lack of a physical presence so in case of a question or a problem contact can only be made by phone or – more usually – via email or chatbot. Many internet banks also do not issue cheque books or accept queues, which can be a problem for some customers.

Customers can set up accounts in different currencies and depending on the bank and its licencing you may also be account to get an account number and IBAN for your home country as well as a European IBAN.

READ ALSO The best UK banks for Brits in France

It means you can use the account for business back home, but also transfer money quickly and easily to/from France. It might give a better deal on exchange rates than receiving a pension in one currency and then spending in euros in France.

There’s a tendency to assume that internet-only banks are less secure, which isn’t necessarily the case, but if there are problems it can be harder to get redress. Make sure the bank you are using has a banking licence in your home country and France for peace of mind.

French banks

Most people living in France already have a French account for daily life, but can you use this for all your financial affairs?

It depends on your situation. Pension providers may only pay into a home account, while if you still have financial liabilities in another country, such as a mortgage, you may need to keep an account in that country. 

Keeping a home address

Many non-EU residents in France get around the problem by using a ‘care of’ address back home in order to retain their bank account – usually either the address of a property that they own or the home of a relative.

Whether this is allowed is a bit of a grey area. Opening a new account may be difficult, but existing accounts may be kept open. Some banks – especially British ones – seem to be keen on checking whether their customers are permanent residents while others don’t seem to care as much.

Basically you can’t lie to your bank if they ask you outright where your full-time residence or tax residence is, but not all banks ask this. 

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LIVING IN FRANCE

How older people in France can get free assistance for outings

The scheme 'Sortir Plus' (Get out more) is available for some over-75s in France providing support and company for outings. Here is what you need to know and how to qualify

How older people in France can get free assistance for outings

What is it?

The programme is called Sortir Plus which translates roughly to ‘Get around more’. It aims to connect older people with a trusted person to accompany them on outings, whether that be going out on a walk, or heading to an appointment with the doctor or hairdresser, or simply going out for a meal.

The companion will be a professional, usually a home-help, and they cannot offer medical services but can provide aid, company and support on trips out.

Who can benefit?

The programme is intended for people over 75 years old who are in a ‘fragile situation’, whether that be due to isolation, age, or mobility challenges.

However, it is only available to those who worked in France in the private sector – in order to qualify, you must receive the supplementary ‘Agirc-Arrco’ pension.

You only need to have worked in France for a minimum period of three months in order to qualify, but it does not apply for former public sector employees, or to people who worked in another country and then retired to France.

What’s the Agirc-Arrco complementary pension?

Basically, France’s pension system offers a ‘base’ regime, which is what most people think of when discussing pensions. It is calculated based on the number of trimestres (quarters) you worked. 

Then there is also the ‘complementary’ regime, which works on a points system and depends on your sector. You are automatically signed up to a complementary regime when you start working in France.

READ MORE: Ask the experts: What foreigners living in France need to know about French pensions

The Agirc-Arrco complementary pension represents the vast majority of people who worked in the private sector – public sector employees have a different plan.

Similar to the ‘base’ pension system, you can qualify even if you only worked for a short period of time in France, but the amount paid out would be smaller.

If you worked in France, but you are not sure what type of ‘complementary’ pension you fall under, you can check out the website info-retraite.fr and log in using your social security number (or France Connect).

If you have worked and paid contributions for more than one trimestre in France, you will find an account set up ready for you which shows your years of contributions in France, and what pension you can expect.

The advantage of the French system is that your pension contributions are deducted automatically, even when you change jobs, and the government keeps track of it all via your social security number.

So how do I sign up for ‘Sortir Plus’?

You can start by getting in contact with an adviser by calling the phone number 0 971 090 971. You can call anytime from Monday to Friday between 8.30am and 6.30pm, excluding public holidays.

Try to call at least two days ahead of the activity you want to be accompanied to.

Then, a professional will take stock of your situation and determine whether you qualify for assistance. They will also inform you of the amount of aid you are eligible for. 

If you qualify, they will connect you with an approved professional who will come to pick you up at the date and time you requested for your activity. Depending on the situation, they may stay with you or come back to collect you afterwards.

You can also request to have the same person accompany you for future outings. The person you will be matched with is a professional – they will either be an employee of a home help or transport organisation. 

If you prefer not to call, you can also do the request online from your personal space on the Agirc-Arrco website. 

In terms of cost, you will not need to pay anything out of pocket during your outing (aside from the activity you are doing of course). The transport and accompaniment costs are covered by Agirc-Arrco and are limited to a certain amount each year.

This means that when you call to organise an outing, they will look at the amount available to you and determine if it falls under the yearly maximum.

What if I don’t qualify? Are there alternatives?

France has plenty of services to help older people, and there is a government website dedicated to the various forms of assistance available.

You can also visit your nearest point d’information local to find out about elderly care in your area. Find one in your area by entering your postcode here.

READ MORE: Explained: The help available for older people in France

If you need someone to help with daily tasks, such as meals, personal care and housework you can seek out an aide à domicile (home-help aid).

Depending on where you live, organisations that offer auxiliaires de vie (carer) services may be provided by the mairie, the centre communal d’action sociale (CCAS) or private businesses. 

Regardless of who’s providing the services, they have to be accredited by the départemental authorities.

The cost of using these services can be at least partially offset by applying for the means-tested Allocation personnalisée d’autonomie APA à domicile (APA), which is intended to help cover expenses faced by people with reduced autonomy who want to maintain an independent lifestyle, or who live with and are cared for by family members.

APA, available to over-60s, is managed and paid for by the each conseil départemental, which considers each case on its merits, with personalised care plans adapted to individual needs.

If you only need temporary help – for example if you’re recovering after an operation – you may be eligible for aide sociale, although you’ll need a doctor’s prescription. Any required short or long-term care in this case will be paid for via assurance maladie.

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