Personal Finance in France

Bank accounts
Banking options include high street banks, the post office bank La Poste, internet banks, and Crédit Agricole’s English-speaking ‘Britline’ which offers services online, over the telephone and by post.

To open a 'résident' account you must reside permanently in France, i.e. be a French taxpayer; otherwise, you should apply for a ‘non-résident’ account. In either case, be prepared to provide supporting documentation such as birth certificate, passport, proof of address, financial/fiscal statements and references, etc.

‘Free banking’ is not a widely-known concept in France. The lowest-cost deals can often be found amongst online banks. Most French banks charge a monthly fee with additional charges for the issue and renewal of bank cards, internet banking, and other services. They normally offer a range of account packages, with tariffs to reflect the different levels of service.

Cheques
On French cheques, the amount in words is written first, and the name of the payee afterwards. You also write the name of the place where the cheque was issued, as well as the date.

Whenever you pay a cheque into your account, you MUST ALWAYS sign it on the back.

Prélèvements and RIBs
Paying bills by direct debit (prélèvement) is common practice. When setting up a prélèvement, you will be asked for a RIB – Relevé d’Identité Bancaire. A RIB is a slip of paper giving details of your name, account number, and the international numeric identifiers (IBAN/BIC) of the bank. You’ll find RIBs in your chequebook to tear out and send, and many cash machines will print them out. People unfamiliar with this system may initially feel uneasy about disclosing their bank details, but in fact it is perfectly normal in France for suppliers to ask for a RIB.

Property taxes
Taxe foncière is paid by the property owner. When a property changes hands, that year’s tax is normally apportioned between seller and buyer. Taxe d’habitation, together with television tax if there is a TV set on the premises, is paid by whoever occupied (or was entitled to occupy) the property on 1st January. Some communes charge separately for rubbish collection. Billing is per calendar year, and demands are sent out by post during the fourth quarter of that year. The amounts vary hugely from commune to commune. Permanent residents may be eligible for concessions.

Annual income tax return
Every permanent French resident is responsible for submitting an annual Déclaration de revenus. The tax year runs from 1 January to 31 December and déclarations are due during the first quarter of the following year. Forms can be obtained from the local tax office.

To pay property taxes by monthly instalments, you must apply in advance and commence payments in January. Otherwise, bills are payable in full upon receipt.