Travel Reference
In-Depth Information
OPENING A BANK ACCOUNT
Banking is done as discreetly as possible in France, to avoid
everyone's embarrassment over dealing with m-o-n-e-y.
French banks look more like second-class airline ofi ces
and French banking personnel dress down, some even
wearing blue jeans. They are often seated comfortably behind
their counters, almost out of view.
Most banks use an open-counter design, creating as
casual a situation as possible between you and the person
The Euro
France, as part of the European Union, replaced the French franc
with the new unit of currency on 1 January 2002. The euro is
available in eight coins (2 euro, 1 euro, 50 cent, 20 cent, 10 cent,
5 cent, 2 cent, and 1 cent) and seven bills (500 euro, 200 euro,
100 euro, 50 euro, 20 euro, 10 euro and 5 euro). Despite the
remarkable success of the transition to the euro, a few of the
French continue to speak of prices in terms of the former currency,
the franc, especially in large sums. Thus, it is useful to know that
1 euro is worth approximately 6.56 French francs (i xed rate).
handling your money. There is a major security effort at
the entrance, where you will often have to go through two
doors, each opening only when the other is closed. If a bank
robber comes in, they simply trap him between the doors as
he leaves. Very efi cient.
To open a French bank account, you must be 18 years
old, have a valid piece of identity (passport or
carte de
séjour
) and proof of residence (telephone bill or
Electricité et
Gaz de France
bill). Most banks offer both savings accounts
and checking accounts. Even the regular post ofi ce offers
banking services.
You will receive your cheques in a few days and your
carte bleue
(CB, the name used in France for any credit or
debit card) in a couple of weeks. Most banks link your CB
card to the bank account in a debit system, so when you pay
with your CB, the amount is deducted automatically from
your checking account the next month.
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