For new arrivals, paying for things in France is easy by credit card, but as a resident you will soon need a French bank account. The official French currency is, of course, the euro — the former franc is no longer legal tender although you do sometimes still see prices quoted in francs. Many French people still talk about the cost of things in francs, especially when buying, for example, houses and cars, ie expensive things.

On arrival in France, you should have few problems in paying with your non-French credit card as long as it is with one of the major operators like Visa, MasterCard or American Express. There are 24-hour cash dispensers, distributeurs automatiques de billets, easily accessible all over France, and in cities and towns there is a choice of several on almost every high street, usually on the premises of a bank or at large post offices. Some smaller shops may refuse credit. But if you are resident in France, you will very soon need a French bank account: to be paid your wages and to gain access to many essential services that require your bank details as a guarantee of payment. Without a local account, you will not be able to rent a home on the same terms as locals or subscribe to utility services. The French also often pay with cheques, even for small sums such as in restaurants. Having a French cheque book, chequier, will be a welcome practicality, especially in rural areas.

Opening a French bank account

It is best to choose a major bank with a widespread national network of branches to take full advantage of whatever needs may arise during your travels in France. To open an account with any bank you will need to provide the following:
*personal identification (a residence permit or a passport)
*proof of your home address in France (a telephone bill – landline only, not a mobile – EDF invoice or rental agreement)
*in most cases, some written proof of earnings to decide the limit of any overdraft

Don't hesitate to ask work colleagues, friends or even neighbours to recommend a bank. Having an introduction, however informal, from an existing client can reduce the paperwork demanded and time spent to a minimum. Banks near your workplace or home will also be more receptive. You may also want to consider opening an account with La Poste, the post office, but which also officially became a full-service bank as of 1 January 1, 2006. La Banque Postal now offers the full array of banking services and many French people prefer to keep their money in a public institution. But the primary goal for becoming a bank was to facilitate granting home loans, not to make international transactions, and many rural La Poste employees may look at you blankly if you want to do a currency exchange.

La Banque Postal website (www.particuliers.labanquepostale.fr)features helpful financial information in English, including translations for a list of French financial terms. Online banking services are now widely available as well although the quality differs greatly and many banks charge a monthly fee for online access.

Payment cards

All payment cards in France carry a chip, and whenever you use them you are required to type in a PIN. A basic carte bleue (often called a carte de paiement nationale and used as a generic term for any plastic payment card) is cheaper but will not necessarily work abroad or on non-French internet sites. French bank accounts offer either immediate debit from the account for payment by card or at the end of the month, débit différé, for a small additional fee. The typical annual fee for a card with a Visa or Mastercard facility useable outside of France is EUR 33, or around EUR 85 if you subscribe to a package of basic services, such as itemised statement (NB: if you lose a banking card or it is stolen, you may have to pay full fare for a new one even if you declare the loss or theft immediately to both the police and your bank). Credit cards as understood in the UK are not common, but most banks offer a form of card offering an agreed ‘reserve' of money, with a repayment plan and usually for a hefty annual fee.

Cheque accounts

Cheques take an average three working days to clear. When paying by cheque, you may be asked for proof of identity, such as a residence permit or a passport; French driving licences are sometimes accepted but less often than they used to be.
French cheque books contain a page referencing your bank account details, relevé d'identité bancaire, or RIB. You will be asked for a RIB, which can be cut out of the cheque book, for any ongoing commercial transaction, such as opening a mobile phone account or any kind of utility account.

Some banks charge a small service fee for setting up an automatic deduction for the same amount every month, such as paying your rent or mortgage. If you are engaged in such a contract requiring regular payments (such as utility bills) it is common practice to receive a bill that is paid by returning a signed detachable slip, TIP, already made out with your bank details. This doesn't carry extra service fees but reassures the company you're dealing with that they will be paid as they have your banking information.