Everyday money matters in France: what you need to know

Starting a new life in France means adjusting to a few new systems – and managing your money is one of the most important. Whether you’re moving full-time or spending part of the year here, understanding how things work financially can save you time and worry.

A good place to begin is by opening a French bank account. This is much easier once you’ve bought a property, but some banks will let you open one before that. You’ll usually need to show proof of identity, your residency status, and sometimes a recent bank statement or income information. If you’re buying through an estate agent, they may offer help with this – many agents support new buyers well beyond the sale.

You can walk into a local bank and ask about setting up an account, though not all staff will speak English. An alternative is to use an online bank designed for English speakers, such as Credit Agricole Britline. Once your account is open, you’ll get a bank card and a cheque book. While cheques are used less often these days, they’re still accepted in many places.

Day-to-day payments are usually straightforward. Most shops take cards and cash, and many supermarkets have cash machines inside. But do be aware that some petrol stations don’t accept international cards – it’s sensible to carry a bit of cash when travelling. In restaurants, service is normally included in the bill, so there’s no need to tip unless you want to round up to the nearest euro.

If you hire local tradespeople, always check that they have a ten-year insurance policy – known as assurance décennale – which covers their work in case anything goes wrong later. Ask for a written quote and avoid paying the full amount before the job is finished and you're happy with it. It’s also best not to pay in cash. If there’s no record of payment, any insurance may be invalid, and reliable professionals won’t expect cash anyway.

Once you own property in France, you’ll also need to deal with taxes. This isn’t as complicated as it might seem. Income tax is usually taken automatically from wages, pensions or rental income. Each spring, you’ll declare what you earned the previous year. In the summer, you’ll get a notice telling you if you need to pay more or if a refund is due.

Property-related taxes – such as council tax or wealth tax – are paid separately. These can be settled by card, bank transfer, or direct debit, either monthly or as a one-off payment. You can also pay smaller amounts in cash at certain newsagents. The easiest way to keep on top of everything is to use the French tax website, impots.gouv.fr. You’ll need a bank account in the SEPA area (which includes the UK) to pay this way, but if not, your local tax office can advise on how to transfer money.

If you’re sending money from the UK to France regularly – for example, to pay bills or receive pension income – it’s worth speaking to a currency exchange specialist. High street banks often charge fees and give poor exchange rates, which can add up quickly.

Smart Currency Exchange helps people move money overseas safely and cost-effectively. You can set up a regular payment plan, or if you’re sending a large amount, such as for a house deposit or renovation costs, you might want to use a forward contract. This lets you lock in an exchange rate for up to a year, which means you’ll know exactly what your money is worth, even if the market changes.

Managing your money in France doesn’t have to be difficult – but getting it right from the start makes things easier in the long run. Setting up a local bank account, understanding how payments work, and getting good value when moving your money across borders are all part of feeling at home.

If you'd like to speak to someone about how Smart Currency Exchange can help with international payments, their team is happy to talk through your options.