Do I Need a French Bank Account to Buy a Property in France?

Buying a home in France is an exciting adventure — whether you're seeking a holiday escape, a retirement haven, or a new full-time residence. But as with any international purchase, there are practical considerations to keep in mind. One of the most common questions from foreign buyers is: “Do I need a French bank account to buy a property in France?”

The short answer is no, it’s not strictly required, but it is highly recommended — and in many cases, practically essential. Let’s explore why.

Can You Buy Without a French Bank Account?

Technically, yes. You can purchase a property in France without a French bank account. Funds for the purchase — including deposits and the final balance — can be transferred from a foreign account, and many notaires (the French public officials who handle property sales) will accept this.

However, in practice, most professionals involved in the process — including notaires, estate agents, and mortgage providers — will expect you to have a French account. In fact, some notaires and sellers may be reluctant to proceed without one, especially if complications arise with foreign currency transfers.

Why You’ll Want a French Bank Account

Here are the main reasons why opening a French bank account makes the whole process smoother:

1. Paying the Deposit and Final Balance

The initial deposit (typically 5–10%) is paid when you sign the compromis de vente (preliminary contract). While it can be transferred from abroad, having a French bank account makes the process faster and avoids delays due to currency conversion or bank processing times. The final balance is usually due 1–2 weeks before completion.

2. Utility Bills, Property Taxes & Insurance

Once you own the property, you'll need to pay regular bills such as electricity, water, property taxes (taxe foncière), and insurance. Most French utility providers and insurance companies require a SEPA (Single Euro Payments Area) direct debit from a French account. It’s difficult — if not impossible — to set this up from a non-French bank.

3. Getting a Mortgage

If you plan to apply for a French mortgage, having a French bank account is essential. Lenders typically require an account with their own bank or group to manage repayments and keep your income records.

4. Avoiding Currency Fluctuation Issues

Transferring large sums from a foreign currency account (like USD or GBP) to pay for a property in euros leaves you vulnerable to exchange rate fluctuations. While you can still use foreign exchange services, holding a French account in euros lets you move money at favourable times and manage your budget more predictably.

How to Open a French Bank Account

Opening a French account is relatively straightforward, although banks are sometimes cautious with non-residents. You’ll typically need:

• A valid passport or photo ID

• Proof of address (this could be your address abroad or in France)

• Proof of income or employment

• Your compromis de vente or proof of property purchase (if you’re in the buying process)

Some traditional banks may ask for an in-person appointment, but many now allow remote applications, especially with the help of bilingual advisors or expat services.

Alternatively, online banks like Hello Bank, Boursorama, or Revolut France can offer simpler setup — though not all provide full services for non-residents, so it’s best to check the fine print.

What If I’m Not a Resident?

You don’t have to be a French resident to open a bank account, but it can be more complicated. French banks have strict anti-money laundering rules and may be wary of non-resident clients unless you're able to show clear documentation of your property purchase or financial status. Working with a bilingual property consultant or legal advisor can make this process much easier.

Using Currency Transfer Services

Even with a French account, if your primary income is in USD or GBP, you’ll likely be transferring money internationally. In this case, consider using a specialist currency transfer service (like Wise, OFX, or CurrencyFair) that offers better exchange rates and lower fees than traditional banks.

Many of these services allow you to lock in exchange rates, set up recurring transfers, and even pay directly into French bank accounts.

Final Thoughts

While it’s not a legal requirement to have a French bank account to buy a property, it’s almost always the simplest, safest, and most practical way to handle your purchase and ongoing expenses. From paying the deposit to setting up utilities, having a local account ensures things run smoothly and gives you greater financial flexibility.

If you’re planning to buy in France, opening a bank account early in the process is one of the best things you can do to make your life easier — and enjoy your new home stress-free.

Need help navigating French banking or the property buying process? We’re here to guide you every step of the way — just get in touch for personalised advice or check out our full guide to buying in France.