Choosing an Account
Before deciding which account you would like to open, decide which bank will be best for your needs. In France, you can choose to open an account at a traditional bank or via the French Post Office, which offers the same financial management services. You may wish to open an account at a high-street bank, or online using internet banking. While choosing a bank you may wish to consider:
the proximity of the bank to your home or place of work
the opening hours of the bank
the services offered by the bank (including any special account holder offers)
the cost of the services provided (such as overdraft fees)
There are several different types of bank accounts on offer. Each one is designed to facilitate different services and meet different needs. The most common types of account are private current accounts and joint accounts. You can also open several different accounts at one bank, but you will be required to sign a letter of 'accounts unity'. This essentially networks your accounts, and enables the bank to locate funds in one account if another account is overdrawn.
Private current accounts
The account holder alone has the authority to receive payments and authorise withdrawals. Legally, the account holder is solely responsible for their account balance, but anyone can deposit cash into, or write a cheque out to, the holder's account.
Joint accounts
A joint bank account is an account opened in the name of, and accessible for, several people: these are the joint account holders. A joint account is a particularly popular choice for couples who live together and wish to pay bills from shared funds. However, you do not need to be married to, or related to, your fellow joint account holder. For couples, three types of joint account are available:
Mr or Mrs - both account holders can separately authorise banking operations
Mr and Mrs - the signatures of both account holders are necessary to authorise banking operations
Mr and/or Mrs - the signatures of both account holders are necessary for some operations only. These can be agreed when the account is opened.
