Banking, Budget and Scholarships

Open a bank account in France

Opening a bank account in France is one of the first steps to take when you arrive in France.

The documents required to open a French bank account are :

• A copy of your passport or European Identity Card
• A document proving your residence in France – a rental contract (or lease), electricity or internet bill. (If you’re staying with a relative, you’ll need proof of address in their name + sworn statement (attestation sur l’honneur) + a copy of their identity card)
• A copy of your school certificate confirming your enrolment.
• A copy of your visa or residence permit

Please note: If you are a student who is still a minor, you cannot open a bank account in France until your 18th birthday. However, a legal representative can open a bank account for you. He or she must be physically present when the account is open, and provide proof of identity, proof of residence in France (address + surname/first name of your legal representative) and proof of school attendance in your name.

Money and banking

For the latest exchange rates, you should contact your local financial institution. The exchange rate varies from office to office. Euro coins are available in denominations of 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, 50 cents, €1, €2. Euro bills (paper bills) are available in denominations of €5, €10, €20, €50, €100, €200 and €500. €100, €200 and €500 bills may not be accepted, and it is best to have smaller bills on hand.

OUR BANK PARTNERS

Caisse d’Epargne branches

Withdrawing money

There are many ATMs (Automated Teller Machines) to withdraw money in all cities, but the exchange rate varies depending on the bank. Please note that throughout Europe, most ATMs only take 4-digit codes. French vending machines do not accept letter codes.

Advice :

Before you travel to France, make sure to:

• Inform your bank of your trip and stay in a foreign country to avoid your card being blocked once used in France,
• Increase your credit card limit,
• Obtain the emergency number of your bank/credit card company in the event of loss or theft of your card.

Use of credit cards

The most commonly used credit cards are Master Card and Visa. American Express cards are less used in Europe. Please note that some smaller restaurants may not be equipped to process North American credit cards due to a different system used in France. Therefore, it is always a good idea to have cash on hand.

Cost of living per month

Please note that these prices are indicative and may vary greatly, and that the cost of living differs from city to city.

You can compare your hometown with the numbéo website.

Useful vocabulary

FRENCH	ENGLISH
Acquitter	To pay the sum owed
AGIOS	Overdraft charges
Chèque	Checkbook
Compte bancaire	Bank account
Un conseiller	Your appointed banker/bank advisor
Distributeur automatique de billets (DAB)	ATM
Endosser	To issue a cheque – sign and write your account number on the back of the cheque.
GAB – Guichet automatique de banque	Like an ATM, but also where you can deal with your banking operations
Interdit bancaire	All your account, card, checkbooks are blocked
Prélèvement automatique	Automatic Payment method for regular spendings or invoices
Relevé d’Identité Bancaire (RIB)	Bank account statement
Retirer de l’argent	To withdraw money
Virement	Bank transfer – wire
Solde	Credit balance (or debit balance)
Verser	To deposit

Scholarships & fundings

Below is a list of scholarships offered by Campus France that you may be eligible for. We invite you to consult them:

• Campus France scholarships for foreign students.

• With the Campus France scholarship search engine, you could find the ideal scholarship for your country of origin, your situation and your program: You can refine your search using the filter on the left-hand side.

If you are a student at a French lycée abroad, you are eligible for the Excellence-major scholarship.

for indian students

For Indian students looking for an education loan to fund your education, you may checkout WeMakeScholars (#1 Platform to fund your Study Abroad – Scholarships, Education loan | WeMakeScholars). It is an organization funded and supported by the IT Ministry, Govt. of India. They have helped a few of our students in the past to successfully secure an Education loan from banks in India. As they are the processing partners for 10+ banks, they will be able to suggest the best education loan option matching your profile. Also, all of their services are free of charge as the initiative is supported under the Digital India campaign.

Before your return

If you wish to close your French bank account, we strongly advise you to wait until you are back in your country of origin. By this time, you may have received your landlord’s deposit, the remainder of your housing assistance, and any reimbursement. Once you have received everything you need, you will need to transfer your money to the account in your home country. Then, you can close your French bank account free of charge by sending your French bank a termination letter by registered mail with acknowledgement of receipt.

The French Public Service will help you create your cancellation letter.

Transfer or direct debit orders are cancelled on the date of receipt of the cancellation letter. The bank will close the account within a maximum of 30 days from the date of your request for closure and return of the means of payment. In practice, this period is generally 10 days.

Updated 1 March 2024