Whether you’re relocating to France full-time or simply enjoying a second home, getting to grips with how money works here will help everything run more smoothly. From opening a bank account and paying tradespeople to handling day-to-day spending and staying on top of your taxes, understanding the essentials early on will save you time, stress and – potentially – money. France has its quirks when it comes to financial matters, but once you’re familiar with the basics, you’ll be well placed to manage your finances confidently, even from abroad.

This guide walks you through everything you need to know about managing your money in France. We start with the practicalities of opening a French bank account and what to expect from the banking system. Then, we cover how to pay for everyday goods and services – including how tipping works, what to watch out for when paying at fuel stations, and the role cheques still play.

You’ll also find advice on working with artisans, using ATMs, and making the most of currency exchange services for international transfers.

Finally, we’ll explain how to pay your taxes as a non-resident so you can stay compliant without the confusion. Let’s get started.

How to open a French bank account

It is much easier to open a bank account in France once you have bought your property. Having said that, it is certainly possible to open one before you complete on your purchase. In any event, you will need to show proof of identity, your residence status in France and some banks require sight of your bank account in the UK and/or proof of earnings.

If you are buying a property through an estate agent, they should help you with opening a bank account; this is part of what French estate agents generally do for expats. Agents in France don’t stop once you have agreed to buy a property; they should provide further services and generally give you advice on how things work in France.

If you are beginning your search, we can help you find an estate agent in France.

You can walk into any bank and ask for their requirements for opening a new account. However, you do need to bear in mind they may not speak very much English! One option is to go for online banking with Credit Agricole Britline.

An important thing to bear in mind is that going into overdraft without an agreement with your bank is an offence in France. Always make sure you have funds in your account for your own peace of mind.

Most banks offer online services with a secure messaging area. It is worth keeping in close touch with your bank manager (yes, they still have those in France!) This way you are more likely to be helped if ever there is a problem.

Cheques

Cheques are still accepted as payment in stores and for services in France, although they are less common than they once were. When you open your bank account you will receive a cheque book and bank card as a matter of course.

Paying for goods and services

Most stores, supermarkets and small shops take payment on cards as well as cash. Nowadays some supermarkets offer cashback also but normally only on a French bank account. Beware however that in some service stations, International bank cards may not be accepted. It is always wise to have cash on you when you are driving around France.

Paying artisans

Firstly, you need to check that when you employ a workman or artisan of any sort, they are covered by what is called “decennial” insurance. This covers them for 10 years public liability. Never employ anyone without insurance. Should you need to make any sort of claim after the work is completed, this will become very important.

Make sure to get a written quotation for any works you are having done. You may be asked to pay a deposit but never pay all of the amount quoted in full until the completion of the work and you are satisfied with it. Tempting though it may be to offer cash, don’t do it! This will negate any insurance, and a good artisan will not accept cash for this reason.

Tips

Tips are not common in France. When dining out you are not expected to pay any more than your bill as service is normally included. You can round payment up to the next euro but do not feel you have to add on any percentage: it is simply not done!

ATMs

These days most supermarkets and larger stores have in house ATMs. You will find them also in towns and villages although smaller hamlets may not have any. Bear in mind that there may well be a charge for using an international bank card.

Consider a currency exchange specialist

You may need to regularly send funds from your home country account to your new French one. For these sorts of regular transfers, you should investigate using a currency exchange specialist. It’s one way to avoid the transfer fees many high street banks charge and they often offer a better rate than you can get from the big banks.

Book a call with Smart Currency Exchange today to learn more about their services. As well as a regular payment plan, you may want to ask about forward contracts, as these allow you to lock in an exchange rate for a year or more. With a fixed exchange rate, you know exactly how much your money will get you in France, even if the market moves against you.

How to pay your taxes

Even if you’re living outside France, you’ll still need to pay tax if you have ties there – like owning property or earning French income. The good news is that it’s straightforward once you’re set up.

For income tax, payments are usually taken automatically from salaries, pensions or property income throughout the year. Then, each spring, you declare your income and receive a tax notice in the summer. If you’ve overpaid, a refund will be sent straight to your bank account. If you still owe something, the amount will usually be debited directly – either all at once or in instalments if it’s over €300.

Property wealth tax and local property taxes also follow a clear process. You can pay online, set up monthly or one-off direct debits, or even pay by card or in cash at certain tobacconists for smaller amounts. Using your personal account on impots.gouv.fr is the best way to keep everything in one place, and it works as long as you have a bank account in the SEPA zone. If you don’t, you can still make a direct transfer – just ask the tax office for details.

Whichever tax you’re paying, managing it online helps you stay on track, wherever you are.